Biconomy SDK v2 - Full stack account abstraction services!
July 24, 2023
At Biconomy, we have been betting on account abstraction since the last 6-7 months. We launched our AA SDK v1 on mainnet in April. Since then, in the last 4 months, we have deployed almost 27,000 smart accounts accounting for 86% of the ERC4337 compliant smart contract wallet market share. We have also done 61,000 UserOps transactions with a 65% market share.
And now it’s time for our SDK v2!
Introducing Biconomy SDK v2!
For the last few months, we have been heads down improving our SDK & ERC4337 offerings. With this new release, you can easily plug in these 3 independent & composable services for your account abstraction stack -
Modular Smart Accounts (+ programmable modules)
Paymasters as a service
Bundlers as a service
This means that if you just wish to use our Biconomy paymasters but create your own smart accounts or use some other ERC4337 smart contract wallet provider, you can do so! The paymasters will work seamlessly with your choice of smart account implementation. Similarly, if you want to use our smart accounts package but use some other bundler service, you can do that as well. Each of these 3 core services can now be implemented independently.
Let’s look into these one by one.
Modular Smart Accounts
Biconomy Smart Accounts are now modular. With this upcoming release, devs can build or leverage 'modules' to upgrade regular smart contract wallets into an extremely customizable experience. This is a truly game-changing development that will lead to an exponential increase in smart account & AA use cases.
Imagine plug-ins for your wallets! Just how browser plug-ins add custom features & capabilities to your browser experience, modules will enable customised experiences to improve your web3 UX.
dApps can deploy ERC4337 compliant smart accounts for their users easily with our SDK package. And to further improve the experience for their specific user journey, they can leverage modules.
Modules are plug-ins that can be added to the smart accounts to enable specific functionality. Devs can choose pre-built modules from a wide range of options, and then program them to extreme levels of customization.
This way, devs can save time on building some of these features from scratch, and instead focus on designing the perfect UX for their specific use case or needs.
To start with, we are releasing some interesting modules:
DApps can remove unnecessary signature pop-ups by defining a set of rules & duration wherein they get cryptographically secure permissions to perform actions on behalf of users.
DApps can leverage a range of authorisations to choose what works best for their set of users.
Authorised by 'web2' tech email, social creds
Passkey - authorised by biometrics like FaceId & Fingerprint
Authorised by EOA
There’s a ton of modules coming soon. Some of them we will build, but predominantly the ever-growing community will keep building new modules - which continuously unlocks new features!
We envision a 'module store' where devs can choose, customise, & easily plug-in any module they want. And contributors can build and add new modules.
Paymasters as a service
With the new SDK v2, we now offer paymaster as a service. The paymaster essentially enables 2 key gas abstraction use cases:
1. Gasless: Sponsor gas for your users.
2. Allow users to pay gas in any token.
While we had paymasters even in our SDK v1, they could only be used with Biconomy Smart Accounts. Now you can use Biconomy Paymasters API independently, without using the entire SDK.
Moreover, the v2 has further improvements that makes our paymasters one of the best in the space -
Gas Efficient: Our paymasters are one of the most gas efficient in the market. This saves you, or your users, the amount spent on gas fees.
Support any ERC20 token: Our paymaster package is designed to easily support any ERC20 token to be used to pay gas. This is especially useful if you want to use your own token as a gas token on your dApp.
Major tokens already supported: Our paymaster already supports major tokens such as UDSC, USDT, DAI, WETH, WBTCon most chains. Thus, it’s super quick & easy to start accepting gas in any of these tokens.
Ability to get fee quotes: dApps can get accurate fee quotes in a variety of tokens (as shown below), which allows them to easily offer these gas payment options to their users.
With the new SDK v2, we also offer bundler as a service. This means you can pass on your dApp UserOps to us and our bundlers will get them executed onchain. You can use any other non-Biconomy package to create these UserOps, and still be able to use Biconomy bundlers API independently.
There are some key benefits that come with using our bundlers -
Gas Efficient: Our bundlers are one of the most gas efficient, thus ensuring successful UserOp with the minimum amount of gas spent.
High successful transaction rate: We use multiple strategies such as auto-bumping to ensure the UserOp successfully gets executed.
Biconomy SDK v2 now offers the full stack AA services - Modular Smart Accounts, paymaster as a service, and bundlers as a service. Each of these services can be used independently. You can use some other providers to complete the rest of your AA stack.
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