Smart Drop

Smart Drop

Smarter and Safer Token Drops for Seamless Payments

Created on 27th June 2024

Smart Drop

Smart Drop

Smarter and Safer Token Drops for Seamless Payments

The problem Smart Drop solves

Token distribution is a big deal in the crypto world, whether it's for ERC-20 tokens, native currencies, or NFTs. But let's be real, the process isn't always smooth. Here are some common headaches:

Technical Know-How: Setting up token drop contracts and apps can be tricky and time-consuming.
Security Risks: There have been plenty of instances where tokens got lost due to flawed distribution contracts. One tiny mistake can make tokens inaccessible.
Centralization: The process often involves some level of centralization with offline distribution strategies.
SmartDrop aims to fix these issues by offering a secure and easy way to distribute tokens using smart accounts like Safe and Coinbase. With SmartDrop, the token distribution strategy is encoded in a module that you can attach to a smart account, allowing for direct distribution without any escrow. This makes use of the strong security features already built into these smart accounts.

On top of that, SmartDrop uses account abstraction tech, like the ERC-4337 spec, to make the experience even better. Think gasless transactions and bundling, which make token distribution super smooth and user-friendly.

Challenges I ran into

Most of the project has been smooth to build since the tech stack was easy to integrate. This includes the Safe account stack, Coinbase smart account, and the relevant account abstraction APIs like paymaster and bundler using permissionless.js.

However, we did hit a major snag. The Coinbase paymaster and bundler still operate on the V6 Entrypoint, while we needed all the other tech pieces to support this version. For instance, we use the modular smart account standard ERC-7579, which is currently only supported in the V7 Entrypoint. To bridge this gap, we had to do a significant amount of refactoring to make everything compatible.

Tracks Applied (3)

Coinbase Smart Wallet

The smart account module is integrated with the Coinbase smart wallet to provide a seamless token drop claim feature for...Read More

Paymaster and Bundler

The smart account token drop claim is designed to interact seamlessly with the smart account module, which is compatible...Read More

Payments Track

Our solution enhances the payment flow by using a claim-based system integrated with smart accounts, where conditions ar...Read More

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