Mentors:

Jack Melnick

DeFi Lead, Polygon Labs
DeFi

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
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FAQs

For anyone not familiar, What is Polygon zkEVM?
What are the main features of Polygon zkEVM?
What is so unique about zkEVMs?
Why is EVM Equivalence needed?
What is the difference betweeen EVM compatbility and EVM equivalence?
What EVM opcodes are different on Polygon zkEVM?
Which opcodes are missing in the current zkEVM version?
What precompiled smart contract functions does Polygon zkEVM support?
Can this layer 2 zkEVM work with other chains?
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