Sachin | Biconomy.io | sachint.eth
@schin_tomar
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Following
466
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CTO and co-founder @ Biconomy aiming at bringing blockchain to masses using a better UX #entrepreneur #cryptoenthusiast Ex-Makemytrip, Ex-Samsung
New Delhi, India
Joined October 2018
Don't wanna be here?
Send us removal request.
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Just attended
@VitalikButerin
talk about the roadmap of ethereum at
#ETHCC5
Here’s a summary of what future of Ethereum looks like 🧵
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Merge is not the final destination of Ethereum. You will have
The Merge => The Surge => The Verge
Merge is about moving from POW to POS.
Surge is about introducing sharding.
Verge is about verkle tree to help optimise the storage on ethereum and help reduce node size.
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Gas fee too high on Ethereum but you still want to urgently withdraw your funds from
@0xPolygon
to
@ethereum
in most efficient way?
Here's the comparison:
Hyphen Cost: $ 84.66
Polygon Official Bridge: $ 201.97
Hop Exchange: $ 243.14
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Ethereum is now POS 🥳
- World energy consumption will be reduced by 0.02%
- 95% of validators moved from POW to POS
- Merge block is finalized. Merge was success 👏
- No network downtime during transition, blocks are still being mined 🤟
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That ends Vitalik’s views.
Auditorium filled with never ending claps and he exits from the backstage 👏
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Future of wallets are Smart Contract Wallets with social logins.
With SC Wallets, we can truly deliver Web2 Experience on Web3 DApps without compromising with user ownership.
Here's why 🧵
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It’s been a pleasure to hang around with
@sandeepnailwal
for past couple of years and watch him grow in person from level 0 to where he is today.. Consistency, Fast and Relentless execution is one of the things I’ve learned from him.. An inspiration to many entrepreneurs 👏
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If you can understand this, you understand the future of web3 🤟
We are turning web3 gas fees into web2 server costs 🤯
From a burden on users, to operational investment for dApps 📈
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LONG term goals:
Making ethereum quantum resistant so you don’t just run quantum computer to generate someone’s private key.
If zkEVM works well, then making txn space in base layer to make rollups much cheaper.
Look out for better cryptography.
And at last Keep an open Mind!
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L1 is for security and dependability and L2 is for rapid iteration action.
“Functionality escape velocity” thesis: Once L1 is strong enough, rest can be done by L2
Devs need break, new features need time to de-risk
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It's been 2 days since hyphen v2 bridge was opened and because of dynamic nature of bridge, transfer fee has started to become low.
If you transfer ETH from avalanche to polygon right now, your net transfer fee comes down to 0.02%
In V1, it would have been 0.1%
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Blessed with a baby boy yesterday 👼
Time to learn new skills as a Father and all set on this new journey ahead 🙌
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Wondering how much it would cost you to move your $ETH from
@0xPolygon
to
@ethereum
??
Using Hyphen: $30.6
Using Polygon Official Bridge: $67.21
Gas Price: 70 gwei
Hyphen is 15x Faster and 2x Cheaper than Official Bridge and most cost effective than any other bridge.
Wish you could teleport your ETH to Polygon in seconds?! Now you can on Hyphen!
Move some ETH now while the gas is low! 🤫
Then forget about gas as you swap tokens, add liquidity, ape into NFTs & be a smart degen 😎
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We are in a phase where Ethereum capability is increasing by having rapid changes in the protocol (take the *rapid with a pinch of salt :p)
But eventually we’ll stop making rapid changes in protocol and utilise systems like L2 to add more functionality to ethereum ecosystem.
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This vitalik is scared of doing:
Adding support for multiple VM and increasing consensus complexity
Settling for base layer SNARKS than waiting for better circuit designs.
Making ethereum so complex that only devs can understand it’s design.
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Where the focus should be??
Easy to use light clients so anyone can run them.
Making easy for everyone to stake in ethereum via smaller scale decentralised staking pools.
Running full node on lighter hardware.
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Now you can transfer funds to a different address across chains using
#Hyphen
in one click.
What does it mean?
> You can transfer funds from
@0xPolygon
to a
@gnosisSafe
wallet on Ethereum in one transaction
> Transfer funds from
@0xPolygon
to any Binance wallet on Ethereum
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@0xPolygon
team is unreal with the speed and innovation they are doing.. These guys keeps taking it to the next level.. Congrats
@sandeepnailwal
@_jdkanani
@_anuragarjun
@MihailoBjelic
for the acquisition 💪👍
1/14 It is a big day for
@0xPolygon
!
We are announcing a strategic focus on ZK-based scaling solutions and $1B in funding for this effort.
As our first big foray into the exciting world of ZK, we are excited to announce the merger/acquisition of
@hermez_network
! 🔥
Thread.. 🧵
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Hardware Wallet support is live on Hyphen🤘
Switch off the gasless mode and transfer assets across
@0xPolygon
and
@ethereum
using Ledger also 🥳
Also transfer limit has been increased from 20k to 50k 🚀
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EIP-3074 can be the missing piece we all have been looking for in terms of improving UX on Ethereum. A lot can be done without modifying your smart contract to support native meta transactions.
Ethereum wallets may be getting a significant upgrade soon. With the proposed change, EOAs will immediately be able to send batch txs, expiring txs, unordered txs, and more. (thread)
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Short term pain, Long term gain is needed.
Banning SELFSESTRUCT
EIP-4444: Clients must stop serving historical headers, bodies, and receipts older than one year on the p2p layer.
Switch to verkle trees. (Store more data in less space)
It might mean no backward compatibility.
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AA Updates 👇
Gas estimations has been one of the biggest problems in 4337 ecosystem and there's no single solution for all networks.
Our team at
@biconomy
has improved the gas estimations by ~80% and is live on both paymaster and bundler service.
Simpler. Accurate. Efficient.
Exciting news from
@biconomy
! Our Account Abstraction infrastructure stack just got a major upgrade⚙️
Dealing with 4337 gas estimations was tough, but our engineers have worked tirelessly to improve accuracy.
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Spending an hour with
@sandeepnailwal
in general is much better than any textbook about anything 🫡
Full of inspiration, full of knowledge.
Bullish on
@0xPolygon
and
@sandeepnailwal
🙌
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It's not just a 2 day NFT drop but a continuous increased usage of AA based app
@zero________one
with an unique art collection logic.
Whole AA stack (Smart Account, Paymaster, Bundler) powered by
@biconomy
🙌
57k+ transactions and going rapidly 🚀
#AccountAbstraction
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Hey builders, looking for a web3 native kickass front end dev for a full time position at
@biconomy
DM me or send your proof of work at
If your work can talk, that’s enough to apply.
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ERC4337 Bundler Revenue Insights on Polygon!
As per the data majority of UserOps are executed on
@0xPolygon
How much are top bundlers really earning per transaction? Here are the numbers! 👇
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The go-to metric for bridge protocols is commonly TVL, where it’s a game of who’s is bigger.
At Biconomy, we tend to think capital efficiency is where the real bragging rights lie! Let's look at why?👇
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Just saw today APY on
@AaveAave
for USDT deposit was 18% and i had funds on
@ethereum
It took me overall 1.5 min to
1. Move my funds from Ethereum to
@0xPolygon
using
#Hyphen
in 30 sec
2. Approve & Deposit my USDT on
@AaveAave
in 1 min
Now i'm back to having my weekend tea 🫖
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Met
@VitalikButerin
this week in Bangalore briefly to get his views on smart account adoption. Here's what he said 👇
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Not just March, but never a day goes by in Biconomy that is not action packed 💪
March is over. And it was just as action packed for us as Jan & feb!
✅Hyphen 2.0 + LP launch!
✅10 dApp integrations
✅$BICO live on
@kucoincom
Here's a quick recap👇
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Abstracting another blockchain for you to use without worrying about gas fees, gas prices, stuck transactions...
Enjoy gasless on
@FantomFDN
using
@biconomy
🏁
Buidlers on
@FantomFDN
!
Now you can integrate gasless meta-transactions on your dApp on Fantom🤘
Offer a seamless experience where your users don't need to pay any gas! 🆓⛽️
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Build on Base with Biconomy and get $5000 worth of gas credits to select projects.
Let's start building 💻
Onchain Summer has arrived!
To celebrate, we’re offering HUGE rewards for select builders when they utilize our AA stack on
@BuildOnBase
& submit their project on
@nounsprophouse
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Most people don’t invest in the most important asset, your HEALTH.
And $HEALTH is not a token 😅
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Ever wondered one day suddenly your account is credited with thousands or millions of random tokens worth $2-5 which is also listed on uniswap apparently,
and you try to swap them for USDC or ETH.
You could be a target of a malicious actor trying to get your funds. Here's how
🧵
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You must have heard about Account Abstraction (AA) but what exactly AA is?
What advantages and complexity it brings on the table?
What does it mean if as a Dapp you want to support AA?
A Thread 🧵
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We've been brewing something called Multichain Signatures to enable sign once, execute on multiple chains 🤫
More info coming soon 👀
PS: Chain agnostic != Chain aware
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Watch out for this twitter space tonight where we talk about
@biconomy
and
@MoonbeamNetwork
collaboration 🙌
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One of the reason I'll use Hyphen 2.0 is to watch out for Arbitrage opportunity.
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Proud to announce our strategic funding round from leading investors
@borderless_cap
,
@Consensys
,
@jumpcapital
,
@Taisu_Ventures
,
@ManifoldTrading
,
@sidedoor_vc
, and angels
@balajis
,
@gametheorizing
, and
@CL207
( from manifold)!
This validates our mission to bring seamless UX to…
Proud to announce our strategic funding round from leading investors
@borderless_cap
,
@Consensys
,
@jumpcapital
,
@Taisu_Ventures
,
@ManifoldTrading
,
@sidedoor_vc
, and angels
@balajis
,
@gametheorizing
, and
@CL207
(from Manifold)!
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BIG NEWS!!
Welcome JP Morgan to web3 who did their first live DeFi trade on public chain Polygon powered by
@biconomy
🙏
🚨 Huge Update 🚨
As revealed in our call yesterday, multinational bank 🤯JP Morgan🤯 has conducted their first LIVE DeFi trade on a public chain with support from our Gasless relayers!
Small step for Bank, Gaint leap for DeFi!🚀
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Couldn't resist to share that Biconomy Bundler latencies have improved significantly 💪
Avg Latency 380 ms
Proud of our engineering team 🙌
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Imagine each mobile phone turned into hardware wallet with
@WalletConnect
support and interacting with dapps powered by
@biconomy
on L2/roll ups
Everyone would be interacting with blockchains in 1-2 taps anytime anywhere.. with the control in their own hands 😉
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Visa
@Visa
exploring ERC-4337 Account Abstraction using two use cases
Paying with ERC-20 tokens
Sponsoring transaction fees for users
Test transactions were done on Goerli Network.
Real word application of ERC-4337 is closer than we think.
@Visa
continues to explore real world applications for blockchain. UX and payment experience on blockchain
today is suboptimal, for both individuals and businesses. Following our
#AA
publication last year, we are sharing our experiment today on
#ERC4337
#paymaster
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Biconomy SDK is here 👇
After 2 rounds of audits, months of relentless work, and gas optimisations, we bring you all in one solution for enabling Account Abstraction in your DApp/Wallet..
✅AA SDK w/ Social Login
✅AA enabled gas optimised SCW
✅Paymaster Dashboard
✅Bundler
Account Abstraction has truly arrived!
Now integrate AA on mainnet on Ethereum, Polygon,
@0xPolygon
ZkEVM &
@BNBCHAIN
!
Soon on:
@Avax
@MoonbeamNetwork
@arbitrum
@optimismFND
@0xMantle
@routerprotocol
@zksync
Apply as ‘pioneers of AA’ to win free credits👇
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📢 Big News:
ERC-4337 just announced EntryPoint version 0.7.0 🚀
Here are release notes:
Let's simplify this and dive into what this means for EntryPoint, bundlers, paymasters, and Smart Accounts (SA).
A thread: 🧵👇
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I'm always impressed by one piece of software that's so complex yet still robust, modular, composable, modifies itself to handle any kind of inputs that were not even tested ever: Human Body
As a software developer your can learn so much if you study the software inside you.
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Biconomy DAO is here and we need YOU to make it happen.
Grants, Bounties, Votes and more.
Let's make web3 mainstream !!
Introducing BiconomyDAO!
"Ask not what the devs can do for you. Ask what you can do for the devs"
We need YOU to help us make web3 mainstream. Join our movement to onboard a billion web3 users 👉
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Very excited about Account Abstraction to build customised user journeys!
What if you could leverage EIP-4337 & smart contract wallets effortlessly as part of a plug & play toolkit?
Coming soon! Apply for early access 👇
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In Dec 2020, in CDL
@creativedlab
incubator program we were asked to value our company in next 1 Yr
I marked $75 mn and today in 2021
@biconomy
FDV is at $5.1 bn and yes we are just getting started 🤟
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Biconomy relayers are battle tested and till now have
- relayed 18.5 million transactions
- spent $4.4 million worth gas fee
- relayed $1.4 billion worth of volume
All of this done in purely non custodial way on multiple chains.
You ever need relayers?
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Wow.. people are already building using Hyphen 😍
Building using Hyphen is pretty easy..
1 Just interact with Hyphen smart contracts directly to make the deposit.
2 Use Hyphen SDK on client side to track the status of cross-chain transfers.
Thats it.
@ethereum
is still a dominator of crypto-infrastructure, especially
#NFTs
. That's why on
#AstroZero
you'll be able to bridge assets between $ETH and
@0xPolygon
within a few seconds, at minimal fees - thanks to
#Hyphen
by
@biconomy
Empowering creators in every realm possible 💚
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One interesting thing to observe here is $100 mn volume on Hyphen was done using just $6.5 mn TVL only.
Next milestone: 10 figures in volume with 8 figures in TVL.
Just crossed $100M total cross-chain volume transferred on Hyphen!🤩
Here's to the next $100M!🥂
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Proud to introduce Biconomy Sdk V4
yarn add
@biconomy
/account
🗽 viem support
☘️ reduced bundle size
🧪 full test coverage
👨💻 less lines to integrate
📦 AA stack packed in single package
and much more optimisations under the hood.
Migration guide
Introducing Biconomy SDK v4! 🚀
The Easiest & Fastest way to leverage Account Abstraction on your dApp!
Read on to know more👇
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NFT drops using
@biconomy
are GMI 🤟
In last 6 months we’ve added over 640,000 new users to Web3 with Gasless NFT Drops! 🤯
Yes, that's right! We made NFT drops SO EASY to claim 640K+ web2 users could mint it with no hassles!
Here’s how we did it👇🏻
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In all Bridge aggregators,
@biconomy
’s Hyphen being the first choice in terms of returns is becoming normal now..
Checkout the Zapper Bridge and Socket integration below 👇
✨ Unlocking the Big Picture
Zapper Bridge powered by Socket has enabled its users to access all chains & seamlessly move across them!
Users can unlock the whole of web3 without getting restricted by chains ⛓️
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🔐 Security is critical to the adoption of Smart Accounts and ERC-4337.
Account recovery is definitely a MUST security feature in case you loose access to owner keys.
What are the other security features you need in your smart accounts before you can start using them? Comment…
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Debugging errors in AA space has been a challenge which is underrated by builders in the space. Some debugging tools are being built by people in the space but most of them are closed source..
That's why i'm building this UserOp Debugger platform completely open source and need…
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⚖️ Self Balancing Cross-Chain Liquidity Pools
After months of brainstorming we've come up with Liquidity Pool Model that is self rebalancing and creates arbitrage opportunities as pools are being used to do cross chain asset transfers.
🧵
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is so far the most active space to resolve your queries regarding tezos platform.
@tezos
@AsiaTezos
@TezosBaker
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Some Insights on how Base Fee is changing block by block on ethereum.
1/ If current block gas target is 100% i.e., if block contains 30mn gas then the base fee for next block will be increased by 12.5% of current base fee. Which is what we are seeing right now on ethereum.
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Give a like If you are also tired of doing multiple transactions to do one simple action like
1. Swap using a DEX (3 txns => 2 Approve + Swap)
2. Add Liquidity to DEX (3 txns => 2 Approve + Add Liq)
3. Stake your LP Position (2 txns => Approve + Stake)
Here is the solution 👇
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Sometimes you have to be patient to realise someone's full potential
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Guys at
@0xPolygon
stops at nothing and this is how it looks like when some of the best minds work together.
Cheers to web3 🍷
@sandeepnailwal
@_jdkanani
@MihailoBjelic
@_anuragarjun
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Thanks
@Woodstockfund
for the early support we needed and being with us in the journey so far and the future 💪
(1/n) We're pumped to present our
@biconomy
Investment thesis 🚀
Our journey with the team through the bears and the bulls, experience with the product, and other insights into one of the fastest-growing Web3 projects 👇👇
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Ethereum Testnet experience is way different than mainnet experience.
Every developer should at least do 1 transaction on mainnet and even if it cost you some $ , consider it as a small investment to learn more about blockchain technology.
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To make web3 mainstream, we don't want users to get confused by long seed phrase every time a user sets up a new wallet. We need familiar authentication methods to provide security to private key in a non-custodial way.
Solution: Social Logins like
@Web3Auth
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Do attend the community call tomorrow to know about our upcoming launch and roadmap ahead
@biconomy
👍
Lots of new things to be unveiled this month, you don't wanna miss this call !!
Hello gang, we're stoked with exciting news!
We're building up to an important launch, so catch founders
@AraBalaghi
,
@aniket_jindal08
and
@schin_tomar
in a Community Call discussing our roadmap, strategic innovation and how we’re doing even more to empower developers!
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Managing multiple Smart Accounts across different chains comes with its own UX issues.
Imagine adding a new signer to your account but on 10 chains, you'll need to give 10 signatures to do that.
To tackle this, we've designed Multichain Validation Module which enables
Sign…
According to
@VitalikButerin
, users are going to exist on lots of L2s & roll-ups.
But imagine the UX nightmare of being on so many roll-ups!
Creating a wallet on every new roll-up, constantly changing network & signing pop-ups.
But we have a solution!
👉
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It was fun utilising
@MetaMask
Snaps to build Smart account sessions using
@biconomy
SDK and Relayers over the weekend 🤟
Result => 1 click txn without signature pop up every time
Here’s the video walkthrough
#accountAbstraction
#eip4337
#UX
@MetaMask
Snaps Prizes
🥇 Smart Account Sessions by Biconomy ($7,000)
⁃
@AraBalaghi
⁃
@schin_tomar
⁃
@shrewtea892
🥈 MPC w/ snaps ($3,500)
⁃
@zenzhenyu
⁃
@bluzuli
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Fees on
@maticnetwork
is so cheap, we can sponsor the fees for you. Use
@biconomy
on Matic Network and we'll take care of the transaction fees 💪
Imagine a world where DApps have no gas fee!
Build on
@maticnetwork
, integrate Biconomy, & we will pay the gas fee for all your users! 😎😎
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Build Modules using Module Kit by
@rhinestonewtf
and use those modules with
@biconomy
Smart Accounts and SDK 💪
The ModuleKit now supports the
@biconomy
account to empower developers to build once and deploy across multiple platforms
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Simple explanation of
@eigenlayer
Ethereum has around 6k+ validators around the world basically computers that can do networking, storage and compute. It has very large network of computing power.
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Modular Smart Accounts is the future 🤘
With custom validation logic, you can control your wallet the way you want to. With
- EOA (Metamask)
- MPC based accounts (Email)
- Passkeys (Face ID or Fingerprint)
Soon launching the contribution guides so you can also build modules 😉
Biconomy Smart Accounts are becoming modular!🔥
With this upcoming release, devs can build or leverage 'modules' to upgrade regular smart contract wallets into an extremely customizable experience.
AND save tons of time & effort on development!
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Do you really want your users to switch networks while browsing different Dapps? That's not how you achieve mainstream adoption
Solution: Smart Wallet that's truly chainless & user doesn't need to know, dapp is on which network. User txns are relayed by relayer on right network.
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Smart Accounts and Session Keys live in action..
Security + UX = One of the reasons to switch to Smart Accounts.
✨The magic of session keys in action✨
1 click trading - Trade perps on
@DexodusGenesis
without constantly signing wallet pop-ups!
When you open the first position, you also create a ‘session’. Later when you open other positions, you won't need to sign any pop-ups!
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My newborn is just 1 week old and he already got his first web3 gift : ahaan.eth
Thanks
@ankurdubey521
@AmanRaj1608
for the gift 😍
What should i do with his account?
I'll probably create a SmartAccount that will act as piggy bank for him later.
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If you are a Dapp with your own token and want your users to pay gas fee in your token, reach out to
@biconomy
@TheSandboxGame
just didi it 🤟
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You are familiar with in-app purchases in web2 so why not in-dapp bridging in web3..
With in-dapp Hyphen integration, no need to leave the
@perpprotocol
UI whenever you needs funds on
@optimismPBC
🤟
Something more coming than just the bridging on Hyphen Widget soon 👀
New Hyphen integration! 🚀
Wanna use
@perpprotocol
but don't have funds on
@optimismPBC
?
⚡️No worries, now onboard in seconds!
Perpetual protocol has added our new Hyphen Widget to support lightning fast in-dapp transfers on 👇🏻
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Biconomy SDK v2 is here. A one stop solution for your AA needs 👇
It comes with improved documentation now at
Biconomy SDK v2 is now modular!🔥
Plug any (or all) of these 3 services from our full stack account abstraction SDK -
👉Smart Accounts (+ programmable modules)
👉Paymasters as a service
👉Bundlers as a service
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@biconomy
workshop happening in Room1 at
@ETHIndiaco
🤘
Do join to know more about Biconomy SDK live integration.
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@TrustlessState
How about using smart contract wallets in coming months and you never have to give infinite approval to any contract.. just use batching and give only required approval in the batch..
Rotate your controller keys and your funds stays in one wallet only
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Forward enables dApps to charge their users gas in ERC20
No more “I spent [1 private jet] worth of ETH on gas 😭”
No more “Why do I need ETH to deposit dollars to lend?? 🤔”
Devs, read this 👇 or scroll below for TLDR
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More than half million dollars have been staked via Bico Staking (Safety Module) in 1 hr 🚀
If you have $BICO in your wallet, do your part in making
@biconomy
ecosystem more secure by staking your tokens 💪
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I just tried out
@itsobvioustech
Smart Wallet powered by
@biconomy
. I can finally pay gas in a token other than native.
Complete the quest and download obvious:
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@Uniswap
@0xPolygon
I hope your contracts are EIP-2771 compatible for your users to be able to enjoy gasless transactions on
@0xPolygon
easily 🧐
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This is how
@biconomy
SDK integration would look on
@Uniswap
Live on
@0xPolygon
Mainnet
Hosted at
Try out now !!
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Yes rollups are cheaper than L1 but there's room for more gas savings.
Checkout this article that focuses on different ways to save gas on rollups.
1. Data compression
2. Proto Dank Sharding (EIP 4844)
3. Alternate DA solutions
4. Using wasm + evm
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So excited to support
@TrustWallet
with their new Swift Account (Smart Account) powered by Account Abstraction Infra
@biconomy
I've already tried this. Super easy to setup, pay gas in any tokens in your wallet with 1-click transactions 💪
#TrustWalletSwift
Say hello to a new era of smart wallet technology, with
#TrustWalletSwift
!
No
#crypto
experience? No problem. Our new
#TrustWallet
addition enables anyone & everyone to explore the
#web3
world easier than ever before.
Try the BETA👉
Learn more 👇🧵
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Without commitment you'll never start, Without consistency you'll never finish.
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Happy New Year everyone 🥳 Here is to new heights we are all going to achieve next year 🍾🎉
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Use Hyphen to move your $BICO from ethereum to polygon 🤟
And be an LP on
@QuickswapDEX
to get dual mining rewards 🙌
Welcoming
@biconomy
to the
@0xPolygon
fam!✨
🐲Earn dual mining rewards for providing liquidity to the $BICO- $ETH pool, live now!
💰$1,000,000 in $BICO rewards has been allocated for dual-mining & syrup pools
👉APYs like this won't last, be $QUICK:
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