Monad

Petra Upgrade will go live in a week, and one of its most anticipated features is account abstraction

🧵

Some of the functionalities that account abstraction will enable are:

> Fee abstraction
> Gas sponsorship
> Bundled txs
> Social recovery, etc

FastLane (https://x.com/0xFastLane?s=09) will integrate fee abstraction & gas sponsorship. Here’s how 👇

Fee abstraction: users can pay gas fees in other tokens besides the native token of the blockchain.

> Stake MON to get shMON

> Commit shMON to the "4337 Paymaster." That way, gas fee for your 4337 txns will be paid in shMON

Gas sponsorship: In the above explanation, users self-sponsored their gas fee using shMON, but third parties like apps can also sponsor gas fees for their users.

These apps simply commit some shMON to the paymaster, and users of the apps will have their gas fees (for UserOperations) automatically covered.

TLDR;

> Fastlane Paymaster is like a smart contract that allows anyone to allocate shMON to cover gas fees for a certain type of tx.

> Fee abstraction is using a non-native token (shMON) to pay for gas fees.

> Third-party gas sponsorship allows dapps to pay their users’ gas fees. So, txs become gasless for users.

Account Abstraction is basically replacing EOAs (externally owned accounts) with smart contract accounts.

We currently use EOAs to interact with dapps. They offer limited functionalities, unlike smart contract accounts that offer more advanced/unexplored functionalities.