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Varun Srinivasan pfp
Varun Srinivasan
@v
Wallet UX is an existential problem for Farcaster. If we don't make it easy for users to do things onchain and easy for developers to build farcaster apps, we can't scale the network. We're thinking about solutions right now, but want to share the problem statement the team is thinking about. Feedback welcome!
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Corbin Page
@corbin.eth
I’ve thought about this a lot: All good UX crypto apps will have an embedded wallet. This is pretty clear now and will be best practice next cycle. You can roll your own (as you have) or use WaaS provider like @privy @web3auth etc. 1 - This is a feature for advanced users. Put it in Settings. Most users will just send all their assets to an external wallet anyway vs exporting the key. 2 - Chain abstraction solves this and you can still do in-app Apple payment for value+gas and it gets executed via a solver network. No need to have native tokens in EOA on all chains. 3 - Most users just want to do simple transactions. Keep it simple and let advanced users export seed. In my opinion, you can solve this whole problem with the Verified Addresses feature. Allow users to create WC embedded wallets there and set which one the app should prioritize for Frame/app actions. They can manage their current FC EOA and/or sign up for a Privy embedded wallet and set their preference.
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@18kgoldsouvenir.eth
embedded wallets are horrible. i dont want 1000 different wallets i want one wallet for each of my identities and connect that identity to whatever I want it makes no sense that everyone hates chain fractionalisation and now they want to fractionalise wallets
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@baseddesigner.eth
for us who have external wallets already it makes sense to keep using them for new people to crypto they’d love embedded wallet and they’ll have better experience than us
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@18kgoldsouvenir.eth
it's cool for onboarding but having 20 wallets will be as much as a burden as for any 'native' person right now its not the solution
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@baseddesigner.eth
I’m thinking ideal situation is having a ground level app like we have passwords in IOS now and before that 1passwords and from there you connect with session keys to apps you want and with limits you set once that is done you can use these apps as if they were web2 apps
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@18kgoldsouvenir.eth
the ground level app you are describing is what an external wallet is. i dont say external wallets currently are perfect, but the UX is 1000% better than any embedded wallet (apart maybe for onboarding a noob, but that noob will b sick of it as well after getting into crypto) external wallets are like a backpack you carry around, filled with different identities and data, connecting you to every on-chain activity you want to do. No need for signups, no need for top-ups or transfers. you simply have your few identities and money tied to them and you can connect them and start using the service (this is what makes crypto so great!!) also, current crypto UX is way better than current web2 apps. you take your 'data' with you wherever you go. compatible everywhere. no need for seperate accounts (what embedded wallets enable, so bad) think about the hassle to open 2 bank accounts to get an IRL loan VS connecting one of your identities to Aave&Comp. or opening a broker acc vs connecting to @morpho
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@baseddesigner.eth
ground level app can be an external wallet, but they’re doing swaps and many other things they don’t suppose to do / make decisions for the end user and none of them have session keys - you have to sign in with your wallet every time you login and do a tx embedded wallets seem to be like a hot fix on top of something broken already so I agree it’s a bad solution zooming out but within the app it works if the ground layer is setup correctly you don’t need embedded wallets and it’ll still work for loans etc UX is a large and wide term, I meant web2 as if using a web2 app like a mobile game or imagine a betting website, you don’t need to sign anything there for every action
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@18kgoldsouvenir.eth
agree there, we need to improve base layer. embedded wallets make everything seem easier in short term but adds a new layer of complexitiy in the long term
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@baseddesigner.eth
exactly what it is, theyre more like a disposable debit cards you can buy/top up as a gift vs an actual bank account
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@18kgoldsouvenir.eth
imagine the future of finance running on gift cards 😎
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@baseddesigner.eth
lol
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@baseddesigner.eth
they’re great for their intended purpose though
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@18kgoldsouvenir.eth
the gift cards, or the embedded wallets? 🤣
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