Idea emerged to becoming a “Vision” when BLOK Capital Founder Sheetal Nehra discussed with few novice investors in crypto about the difficulty of self custody in storing private keys / seed phrases, gas fees & their concerns of losing their crypto with centralised exchanges, like FTX. Our Founder decided to create a protocol solving the complexity of Investment and Wealth Management and it gave birth to “BLOK Capital Protocol” building a Web3 protocol and community for decentralised Wealth Management.
With time, all Core DAO members joined BLOK Capital having great experience and expertise in their respective fields enabling us to build BLOK Capital, the DAO.
Welcome to BLOK Capital: Core Protocol Based on Account Abstraction & ERC-4337 to Revolutionise Investing & Fund Management.
Let’s go deep dive with Account Abstraction and ERC 4337.
What is Account Abstraction?
Account abstraction is a new way of interacting with the Ethereum blockchain. It allows users to use smart contracts as their primary accounts, instead of the traditional externally owned accounts (EOAs). This has a number of benefits, including:
- Improved security: Smart contracts can be programmed with more sophisticated security features than EOAs.
- Greater flexibility: Smart contracts can be programmed to implement a wide range of features, such as multi-signature wallets, social recovery, and transaction approvals.
- Reduced costs: Smart contracts can be used to optimize gas fees via bundlers & paymasters.
What is ERC-4337?
ERC-4337 is a new Ethereum standard that enables account abstraction. It provides a set of rules for how smart contracts can be used as accounts. This makes it easier for developers to build wallets and other applications that use account abstraction.
How BLOK Capital is Using Account Abstraction and ERC-4337?
BLOK Capital is using account abstraction and ERC-4337 to create a new platform that will make it easier and more secure for investors to connect with wealth managers in complete decentralised manner where investors fund will be only allowed to swap by wealth managers. Wealth managers can not withdraw or swap the assets of investors to the tokens which is not whitelisted by BLOK Capital DAO & Community.
The platform will provide a number of features, including:
- Investor onboarding: Investors will be able to onboard to the platform quickly and easily using Web3Auth at the moment. AA is created using Zerodev infrastructure at the moment
- Wealth manager discovery: Investors will be able to discover and connect with wealth managers based on their needs and preferences.
- Asset management: Investors will be able to give wealth managers permission to manage their assets on their behalf.
Why & How BLOK Capital is going to revolutionise Investing & Fund Management?
Using Account Abstraction & ERC 4337 protocol enables incredible feature missing in crypto investing in the world. The technology itself defines the core security required to allow weakth managers to trade assets of Investors without stealing it.
Below is the features BLOK Capital provide :
- Definite security rules, like wealth managers can only swap fund of Investors. Investor can only withdraw their fund which is stored as self custody. Wealth managers can only swap the fund on behaf of user, No withdraw.
- Easy login like Web 2. Google Authentication, Twitter Auth etc..
- No worry about seed phrases & private key.
- Recover your account with guardians.
- Share your account security across trusted devices or individuals.
- No worry of Gas fees complexity as BLOK Capital Paymaster will pay on behalf of user. Easy swap. Single click swap.
- Reduction in fees : Batch transactions together (e.g. approve and execute a swap in one go)
Above is the Architecture Diagram of BLOK Capital Protocol. It may change in future during up-gradation of protocol with technology & features improvement.
How far is the BLOK Capital Protocol & ERC 4337?
BLOK Capital has completed DAO Creation, Protocol Research & Webapp Prototype Phase with tested features and technology integration. Users can create real blockchain Smart wallet account using Google Email authentication and create their gardens(Investor) & assign the gardeners (Wealth manager’s portfolios).
BLOK Capital has completed DAO Creation, Protocol Research & Webapp Prototype Phase with tested features and technology integration. Users can create real blockchain Smart wallet account using Google Email authentication and create their gardens(Investor) & assign the gardeners (Wealth manager’s portfolios).
We are working on Paymaster & Bundlers integration to swap the assets at the moment. You can test prototype here. Create your first BLOK Capital Account fully on chain! This Account will be used in Version 1.0.0 launch and onwards as well forever.
You can learn about ERC 4337 here. There is an implementation in progress here. An early developer alpha version is expected to be coming soon, after which point the next step will be to nail down final details and conduct audits to confirm the scheme’s safety. Read from Author of ERC 4337 Mr. Vitalik Buterin here.
Thank You. Join BLOK Capital community to be updated with upcoming articles of the protocol.
This article only represents overview of the protocol. Microscopic analysis & information about each aspects of protocol will be updated in upcoming articles.
*Above information is subject to change with protocol & technology improvement.