BI 005 Passive Investing Mobile App with AA
Problem Statement
- The goal of this idea is to give a simple investing experience on mobile using AA, for simple retail users who don't want to deal with web3 complexities, but also want custody of their own assets
- The target market for such apps are either people who don't know much about blockchain but want to invest in crypto, or folks who just don't have much time to manage their regular investments.
- Building with AA gives you a slick, easy to use app that saves time and effort while not compromising on self custody or transparency.
Potential solution
- You can give users a mobile native smart account using passkeys, and allow social recovery of their account as well. You can give a gasless experience in-app, or allow users to pay gas in stablecoins or whatever tokens they are dealing with.
- You can have an in-app onramp to allow easy onboarding of funds. You can batch multiple transactions and give one click user flows to buy multiple tokens, deposit those tokens in DeFi to generate yield, or both, together in a single click.
- These can be offered as different investment strategies. None of this will require you to create your own contracts and can be done easily with an AA wallet itself. You can create DCA strategies into tokens from stablecoins with an automation module within the smart account as well.
Challenges you may have to overcome
- Implementing effective portfolio diversification strategies in The crypto space can be challenging. Developing algorithms or strategies to automatically balance portfolios across different cryptocurrencies, tokens, and Asset classes while considering risk tolerance and market conditions requires careful planning and expertise.
- Cryptocurrency investing can be complex for newcomers.
- Building a user-friendly and intuitive mobile app is crucial for attracting and retaining users. Designing a responsive and visually appealing interface, providing personalized investment recommendations, and Offering easy navigation and portfolio tracking are key aspects of enhancing The user experience.
Business model
- You can have one time fee required to invest in more complex strategies. You can have recurring payments required to access recurring features like DCA. You can have a swap feature in The app where You can take your own fees on top of The DEX.
- You could also sell ad space in The app on reaching scale, as You are likely to have a very large audience of retail users.
Market Opportunity
The TAM will range based on the customer base you hope to target with this mobile application. The TAM is the retail size for crypto over the next 10 years, which is a massive TAM.
- This would be a B2C application, so the GTM strategy could involve a token that is also used for incentives. Work closely with the chain and have strong marketing, by running community campaigns and rewarding early users, either with solid rewards and/or with the tokenomics structure.
- Developer's guide to Account Abstraction
FAQs
Polygon zkEVM is the leading zero knowledge scaling solution that’s equivalent with the Ethereum Virtual Machine, this means that most of the existing smart contracts, developer tools, and wallets work seamlessly.
Polygon zkEVM harnesses the power of ZK proofs to reduce transaction cost and increase throughput, all while inheriting the security of Ethereum L1.
1- Ethereum-equivalence: Most Ethereum smart contracts, wallets, tools, etc. work on Polygon zkEVM seamlessly.
2- Inherits Ethereum security
3- Lower cost compared to L1 and better finality than other L2 solutions like Optimistic Rollups
4- ZKP-powered scalability, and aiming at similar throughput to PoS
Many people in crypto believed that a zkEVM was years away, and might never be practical or competitive with other ZK L2s. This was framed as an unavoidable tradeoff: we could have either full EVM equivalence or high performance, but not both. However, with the proving system breakthroughs pioneered by Polygon Labs, we belieive we can achieve full EVM equivalence while offering better performance (higher throughput, lower latency, and lower cost) than alt-L1s, optimistic rollups and other ZK rollups.
EVM-equivalent: Ethereum isn’t just a blockchain. It’s a rich ecosystem of smart contracts, developer tools, infrastructure, and wallets. It’s a vibrant community of developers, auditors, and users. The best way to scale Ethereum is to strive to maintain equivalence with this ecosystem, and the Polygon zkEVM will give users and developers an almost identical experience to Ethereum L1 -- just with a significant scalability improvement.
The ultimate goal is not compatibility. The ultimate goal is equivalence. Solutions that are compatible enable most of existing apps to work, but sometimes with code changes. Additionally, compatibility may lead to the breaking of developer tooling. Polygon zkEVM strives for EVM Equivalence, because it means that most applications, tools and infrastructure built on Ethereum can immediately port over to Polygon zkEVM with limited to no changes needed. Things are designed to work 100% on day one. This is important, because ideally:
1. Development teams don't have to make changes to their code, which could introduce a security vulnerability
2. Since no code changes are needed, you dont need additional audits, which saves teams money
3. The experience for a developer is much better. Since he/she is not rewriting the application, valuable time is saved.
4. The solution ultimately benefits from the security and decentralization of Ethereum, since transactions are still finalising on Ethereum
5. Allows Polygon zkEVM to benefit from the already vibrant and active Ethereum community
6. Allows for significant and quick dApp adoption, since apps built on Ethereum today are designed to be compatible.
SELFDESTRUCT: removed by SENDALL
EXTCODEHASH: returns hash contract bytecode from Polygon zkEVM state tree (do not check if the account is empty)
DIFFICULTY: returns 0
BLOCKCHASH: returns all previous block hashes (not just the last 256 blocks)
BLOCKCHASH is the state root at the end of a processable transaction and it is stored on the system smart contract
NUMBER: number of processable transactions
zkEVM supports all opcodes but SHA256, BLAKE and PAIRINGS.
ecRecover and identity are presently supported. Others return a revert.
At the moment, the answer is No. Aspirationally, the goal in the future is to build one of many chains that allow for users' assets to move from layer 2 (L2) to layer 2. With that being said, users will not be able to utilize this functionality at launch, but L2 to L2 movement is something road mapped for the future.