Project Details
What are you going to build?:
Locksmith is a fully on-chain and decentralized smart contract wallet that does not rely on relayers, servers, or indexers. As the first token-gated smart contract wallet, Locksmith uses semi-fungible ERC-1155 tokens to assign, track, and monitor the permissions of token holders over assets held in user "Trusts." Rather than build our own plugin, LSW is designed to pair with existing EOAs to enable account abstraction on any EVM chain. We therefore complement EOA wallets such as MetaMask or Coinbase Wallet, allowing their users to upgrade instantly to smart contract wallets.
However, the Locksmith Wallet is more than just a wallet; it's a comprehensive suite of smart contracts that serve as a new standard for permissions in the Ethereum Virtual Machine (EVM). The project is open source, and we believe the underlying smart contracts will become a foundational component of the Ethereum wallet infrastructure. Our tech stack allows for a wide range of applications and use cases, from wallets to novel DeFi applications and much more.
In addition to the wallet itself, we will also develop a Software Development Kit (SDK) to encourage other developers to build on top of our infrastructure. The SDK is the main focus of our grant application and will be our primary use of funds. The SDK will foster an ecosystem of applications that leverage the composability and trustlessness of Locksmith, driving further growth and innovation in the Optimism ecosystem.
Locksmith Wallet introduces a novel, fully decentralized, and fully on-chain approach to account abstraction without relying on private mempools or off-chain relayers. Open-source and envisioned as a new developer standard for self-custody, Locksmith complements existing EOA wallets to let users consolidate their addresses, forget their seed phrases, and personalize their wallet security without the need for an additional plugin