Modular Smart Accounts

Modular Smart Accounts based on Account Abstraction (ERC-4337) are a new approach to managing digital assets and interacting with blockchains. They aim to offer greater flexibility, customization, and security compared to traditional EOA wallets.

Dextr uses Biconomy SDKs to build upon account abstraction, offering users flexibility and security. This enables innovative features such as:

Social Recovery: A Community-Driven Safety Net

Dextr addresses the issue of inaccessible accounts due to lost private keys. The Social Recovery feature allows collaborative account access through a trusted group of guardians. For details on how the social recovery process works, check Biconomy docs.

Decentralized Inheritance: Ensuring Your Legacy Endures

Dextr enables a smooth transfer of digital assets to chosen heirs through a decentralized inheritance mechanism, addressing estate planning challenges. Users follow these steps:

  1. Activate 'dead man's switch': Signal the intent to transfer ownership by activating a switch after a set duration or inactivity period.

  2. Define trigger conditions: Set conditions for the switch, like a specific time frame or inactivity period without on-chain transactions.

  3. Specify nominated addresses: Whitelist addresses of chosen nominees, typically family members or trusted individuals.

  4. Allocate percentages (if applicable): Distribute asset percentages among multiple heirs for proportional allocation.

  5. Execute autonomous transfer: When trigger conditions are met, the protocol autonomously transfers assets to nominated heirs based on predetermined percentages.

Multi-Factor Authentication (2FA): The Keys to Unbreakable Security

Users can boost security by implementing two-factor authentication for specific transactions. This involves requiring multiple key signatures for actions such as withdrawals or account adjustments. Users set criteria for triggering this extra security and assign specific accounts to collectively validate actions meeting the criteria, providing an additional layer of security in case of a compromised key.

New features will subsequently be added to the Modular Smart Account such as spending limits, pass keys, etc.

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