Key Takeaways
- Safe, Rhinestone and Pimlico launch new developer tooling around the ERC-7579 standard.
- These tools are designed to onboard Safe users to the new standard, increasing flexibility and reducing fragmentation in the smart account space.
- To encourage adoption of ERC-7579, Safe is offering a prize for the best app integrating the new standard, with winners to be showcased at ETHCC in Brussels.
Core Contributors, the team behind Safe{Wallet} and Safe{Core} source code, has partnered with account abstraction leaders Rhinestone and Pimlico to enhance developer tooling around the ERC-7579 standard.
Safe7579 Adapter and Smart Account Modules
At the heart of this initiative is the Safe7579 Adapter, developed by Rhinestone in partnership with Safe, alongside more than 14 smart account modules that are already available. The goal of this partnership is to onboard Safe users with the new standard, thereby increasing interoperability and addressing the fragmentation within the smart account space.
ERC-7579, co-authored by Rhinestone, ZeroDev, and OKX, and published in December 2023, aims to transform the interoperability and functionality of smart accounts. This standard provides guidelines and protocols that enable seamless interaction between smart contracts and modules, empowering developers to create versatile and robust applications. It sets the minimum requirements for modules to be easily interoperable between smart account implementations, heralding a new era of smart account development.
The significance of ERC-7579 lies in its user-centric design. It addresses the limitations of Externally Owned Accounts (EOAs), the backbone of most DeFi infrastructure, which require users to manage complicated private keys.
This complexity has created significant security threats for self-custody users, evidenced by the loss of over $239 million in digital assets in Q1 2024 alone due to private key compromises.
Enhanced Security and User Experience
The collaboration between Safe, Rhinestone, and Pimlico aims to address fragmentation, champion interoperability, and reduce dependency on specific platforms, allowing Safe developers to deploy and manage smart contracts with greater flexibility and enhancing the user experience.
Early adopters of this launch include the zkEmail recovery module and Bico session keys, showcasing their support for the new standard.
Lukas Schor, Co-founder at Safe, commented on the collaborative push for smart account interoperability: “This is the app store moment for smart accounts! Aligned on a mission to simplify building and motivate developers to choose smart accounts, we have the opportunity to transform user experience in crypto. This integration represents a key turning point for the space, and we are on our way to onboarding the next billion users.”
Rhinestone Co-founder, Kurt Larsen, believes that the path to mainstream adoption is paved with seamless developer tooling and modular smart accounts will be the next composable platform that drives innovation and sets the stage for the next killer Web3 app.
Pimlico Founder, Kristof Gazso, emphasized the importance of modularity and excellent developer tooling: “ERC-7579 and smart account modules represent a transformational moment for smart accounts, letting developers write standardized modules for custom features that become day-1 compatible with major smart account implementations without any further modifications. We’re proud to have permissionless.js support the Safe ERC-7579 adapter, allowing Safe developers to now also plug into this growing ecosystem.”
Safe Offering Incentives to Boost ERC-7579 Adoption
To further encourage the adoption of the ERC-7579 standard, Safe is offering a prize for the best app integrating ERC-7579 Safe smart accounts. This initiative, aimed at fostering innovation and engagement within the developer community, will be featured at ETHCC in Brussels. Qualified apps must support Safe accounts v1.4.1, integrate Pimlico’s permissionless.js, utilize Rhinestone’s ModuleKit, and use the Safe7579 Adapter to deploy or connect existing Safe accounts and execute gasless transactions.
More information on the ERC-7579 can be found here https://erc7579.com/ or https://docs.safe.global/advanced/erc-7579/7579-safe.
Read Also: Safe and Base Collaborate to Boost Smart Account Adoption on Ethereum