EpheSafe

EpheSafe Project Overview:

Description: EpheSafe is a decentralized solution designed to enhance wallet security by allowing users to safeguard their assets temporarily in the form of NFTs (Non-Fungible Tokens). Users can lock their tokens or funds (like USDC) within these NFTs for a specified period, during which the assets remain untouchable by any party, including hackers, even if they gain access to the wallet's private key. The project introduces a "safe" concept that ensures assets are only claimable after an expiry date. In case of emergency or hacking incidents, the platform also offers an emergency unlock feature to recover funds through multi-signature approvals.

Key Features and How it is Made:

Safe NFT Creation:

Users can create "safe" NFTs that lock specific assets (ERC-20 tokens or native currency) for a set duration. The safe contains metadata, including the expiry date, the locked amount, and multi-signature (multi-sig) safe addresses. The locked assets can only be claimed after the expiry period. Multi-Sig Approval Mechanism:

During the safe NFT creation, the user specifies multiple addresses (multi-sig) to authorize critical actions such as emergency unlocks. A defined number of approvals from these addresses is required to perform certain actions, like emergency unlocks. Emergency Unlock:

If a wallet is compromised, users can initiate an emergency unlock process. This process allows users to transfer their locked assets to a secure address by gaining approvals from the multi-sig addresses. Once the required approvals are met, the funds can be retrieved to a safe address even before the safe's expiry. Safe Expiry & Asset Claim:

Once the safe reaches its expiry period, users can claim back their assets. The assets can be transferred to the original owner's wallet or any other specified address. Hacker Mitigation:

Even if a hacker gains access to the user's private keys, they cannot transfer the locked NFTs or assets before the expiry period, providing an extra layer of security. Emergency Unlock Status Tracking:

The emergency unlock mechanism tracks approval statuses and ensures that funds are only released when all required approvals are met.