Account Abstraction

Account Abstraction is an Ethereum update that enables revolutionary user experiences by allowing users to create Smart Accounts instead of relying on an Externally Owned Account (EOA). At Wepin, we integrate the ERC-4337 standard for account abstraction, providing wallet users with the ability to sponsor and manage gas fees. If you are interested in implementing account abstraction through Wepin, please submit a request through the form.

Beyond Onboarding

With Wepin Wallet, which supports social login-based wallet creation, users can easily onboard to your application. This approach opens up new possibilities for users unfamiliar with web3, overcoming the hurdles that previously caused high user dropout rates due to complex mnemonic or key management processes. However, the ultimate goal is not merely onboarding but ensuring that users realize the true value of web3 applications.

During their web3 journey, users will encounter blockchain transactions (e.g., token transfers). In the blockchain environment, native tokens are required for transactions. However, acquiring native tokens can be a significant barrier for users unfamiliar with web3. For instance, when a user wants to simply transfer an NFT obtained from an application or exchange tokens, they must go through a centralized exchange, complete KYC, purchase coins, and then transfer the native tokens to their wallet account within the app. Considering the complexity, costs, and risks during the transfer process, it becomes clear that even after smooth onboarding, the transaction environment can still result in a suboptimal user experience.

Gas Fee Sponsorship through Account Abstraction

Account abstraction allows wallet users to create Smart Accounts, composed of smart contracts, providing an enhanced user experience.

Among the two types of accounts in Ethereum, many wallets, including Wepin, are implemented using EOAs (Externally Owned Accounts) that require user signatures. In contrast, a Smart Account refers to a wallet account composed of smart contracts, controlled by programmable code. A Smart Account holding assets can only be controlled by users registered as signers. The EOA generated by the Wepin wallet is linked to serve as a signer for the Smart Account, and a new Smart Account is created for the user.

Users with Smart Accounts can perform on-chain transactions through third parties known as bundlers, even without holding gas fees directly. The bundler submits the user’s transaction to the blockchain, paying the necessary fees, and then uses a Paymaster to reclaim the amount spent on fees. Application developers can configure the Paymaster to allow the bundler to recover the fees. As a result, end users can have their transaction fees sponsored by the application, enabling them to use the service without bearing the gas fees themselves.

Implementing Account Abstraction with Wepin

By implementing account abstraction through Wepin, you can gain the following benefits:

• Users can perform transactions smoothly within the application even without holding native tokens.

• Application developers can manage fee sponsorships via Paymaster.

• Without complex integration processes, you can simply integrate the Wepin wallet and configure sponsorship policies (e.g., support for the first 5 transaction fees) with minimal setup.

Additionally, by adopting account abstraction, you will have access to features that promise further innovations in user experience in the future.