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https://warpcast.com/~/channel/consumercrypto
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Darryl Yeo 🛠️
@darrylyeo
All for making crypto apps easier to onboard to and all, but it’s important to remember that abstractions have costs. Any kind of vendor lock-in at the wallet / account level is a losing strategy in the long term. https://x.com/0xmakesy/status/1909258082414133268
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Henri Stern Ꙫ
@henri
Happy to chat through this -- it's something we discuss with every customer of @privy First and foremost, Privy will never lock you in. Customers can always export their user tables from Privy, and end-users can always export their keys (even when customers discontinue service with Privy). As it were, we’ll be setting up an external export site in addition to the export page that already exists on http://friend.tech to guarantee users can manage their wallets indefinitely. This is something we work on with all our customers. Lots more to come here, including the ability for users to fully recover keys even when Privy itself is down (something no other vendor provides iirc). Ever grateful to the friendtech team for catalyzing the biggest consumer adoption wave we've seen in our market!
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shoni.eth
@alexpaden
serious Q is friendtech still getting any use?
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Hoot 🎩
@owl
😂😂 welcome to the reality of “better onboarding ux”
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Andrei O.
@andrei0x309
The strategy for all kits out there to monetize is to offer some kind of embedded wallets that work with social. But when you have a lot of users the cost can be huge, a few connect kits allow you to configure only external wallets and you don't have to pay anything. So if you don't want lock in or a high bill allowing only external wallets is a great choice, it also preserve the Web3 wallet login ethos. Depends a lot on your product, if is Web3 heavy I would never enable email/social/embedded wallets, you might lose (5 or 10)/100 users, but IMO is better than having a huge bill plus lock-in.
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Mikko
@moo
How much is Privy charging?
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tree girl 🌲
@treegirl
at which level would you recommend vendors to recoup their costs?
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Tudor 🟣🟡
@tudorizer
wow, the circle is closing
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web3Gurung
@web3gurung
what alternatives would you consider to not burn a hole in your pocket much?
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Just a Guy In The Onchain World
@hoveryl
I agree with you. But in order to encourage adoption, having a good UX is necessary
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