novusys

The goal of Novusys is to provide an end-to-end Web3 wallet solution. Newcomers to Web3 often find the onboarding process to be daunting, requiring them to setup a crypto wallet, safeguard their private keys, and create an account with an exchange to fund their account.

Social Recovery System The social recovery system empowers wallet owners to securely transfer wallet ownership in emergency situations. This is achieved by designating recovery voters who participate in the decision-making process and in case of an emergency, the owner or a recovery voter can propose an ownership transfer. This transfer must receive a majority vote from the recovery voters within 24 hours, and the ownership is transferred. To protect against hijacking, any changes to the recovery voter roll can be vetoed by a majority of existing recovery voters within 24 hours.

Global Lockdown Signal The global lockdown signal provides an additional layer of security for users who choose to opt-in for this feature. By linking their wallet to a special Novusys account, users can enable an emergency lockdown of their account in case of a security breach. This lockdown can manually be lifted by the wallet owner at any time.

Savings Account The savings account feature allows users to automatically divert a user-defined percentage of incoming ETH transfers that exceed a specified threshold to a separate savings account.

By abstracting wallet creation, funding, and management we can provide a frictionless Web3 experience. We aim to bridge the gap between Web2 and Web3 by allowing users to interact with blockchain in a familiar way.

Our target chains for this project were Polygon, Optimism, and Ethereum, using Goerli Testnet for our proof of concept. We used auth0 as our user authentication provider due to its convenient and familiar onboarding experience alongside some useful endpoints. We built a Manifest V3 Chrome Extension using Vite, React, Ts and an onboarding site using NextJS, React, Ts. We deployed an Optimism bundler for ERC-4337 We deployed a full suite of custom contracts built on the ERC-4337 infrastructure to support our current and future functionality regarding wallet safeguarding, social recovery, and signature voting. We deployed Paymasters to allow for sponsored transactions covering the fees for onboarded users. Our onboarding website allows users to sign up and configure their wallet, deploying their set of Novusys Smart Wallets to be used in tandem with the extension. We are in the process of building Account Abstraction zkSync Era contracts.