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itai (building dynamic.xyz)
@itai
1/ With the rise of embedded wallets, a vital topic to think through is interoperability. That is, how do siloed wallets turn into global wallets. In this thread, I explore a few paths to consider. 🧵👇 Note: approaches 1-3 are simpler; 4-7 more complex; Please consider this a draft for community discussion 🙂
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itai (building dynamic.xyz)
@itai
2/ Definitions: Embedded wallet: Usually an email/phone/social based wallet (e.g. @dynamic_xyz) Branded wallet: Metamask, Coinbase Wallet, Rainbow etc.(a consumer brand; has distribution) AA embedded wallet: a layer on top of the EOA embedded wallet (e.g Alchemy or Zerodev).
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itai (building dynamic.xyz)
@itai
1: Key replication to a branded wallet 🔃 User starts with an embedded wallet. They replicate their private key / mnemonic phrase and import it into Coinbase Wallet / Metamask etc. Pro: user can still use the embedded wallet after replication Con: direct key interaction is risky
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itai (building dynamic.xyz)
@itai
2: Embedded wallet WC connection 🔌 Give the embedded wallet connection capabilities via WalletConnect and allow it to connect to any 3rd party site Pro: straightforward for web3 users Con: you still end up with a bunch of wallets; web2 users don't know WC
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itai (building dynamic.xyz)
@itai
3: Asset migration ➡️ Either via EOA or AA, you “export” your assets into your branded wallet. Embedded wallet becomes less useful after asset export Pro: easy way to move things Con: your embedded wallet becomes useless thereafter
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itai (building dynamic.xyz)
@itai
4: Branded+embedded wallet 🤝 The embedded wallet becomes a branded wallet as well. User logs in with same credentials into embedded wallet that they do into the branded wallet Pro: email/social login everywhere Con: requires distribution
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