LayerAkira
Using account abstraction on Starknet, we created a recurring payments architecture for both users and service providers. This allows funds to be pulled automatically from user accounts without the need for the user to approve the transaction each time.
Project Description
Account abstraction in blockchain allows for flexible and customized smart contract execution. Unlike traditional systems, it separates transaction initiation from smart contract execution.
Users can create transactions specifying conditions for contract execution, providing:
- Flexibility: Users control transaction execution with complex conditions.
- Customization: Enables sophisticated smart contracts with user-defined logic.
- Reduced Gas Costs: Optimizes transaction fees by specifying contract execution details.
This project demonstrates the implementation of a recurring subscription model by harnessing the native support of account abstraction on the Starknet blockchain. The mechanics we developed in this Hackathon unlocks the power of transparent, customizable transactions for the future of subscription services.
The smart contract can pull funds automatically from the users account, instead of requiring the user to sign transactions each time money is taken out. This brings real use cases to block-chain technology.
Subscription services may enjoy a high degree of flexibility as they can customize their offerings, including the currency for payment and the duration of subscriptions. This enables services to cater to diverse user preferences and needs.
How it's Made
Our inspiration for this project was the Visa Paper (https://usa.visa.com/solutions/crypto/auto-payments-for-self-custodial-wallets.html) which highlighted the benefits of developing recurring payment mechanisms using account abstraction. Such mechanics have the potential to bring real-world applications to the blockchain.
We started with the account abstraction mechanics available on Starknet.
Utilizing the new feature of Starknet Cairo language called "components," we integrated subscription logic into account flow. This ensures a smooth implementation of recurring subscriptions without any disruptive changes. We referred to sections of the Cairo book to help us with this.
We've leveraged the same “components” to offer subscription service implementations, empowering them to seamlessly broadcast their offerings into the Web3 space. Our approach ensures a unified and efficient method for service providers to embrace the benefits of account abstraction on Starknet.
We've implemented a liquidation-like logic to enhance user experience, enabling seamless and fully shallow auto-prolongation of subscriptions. This innovative approach improves client interactions by streamlining the process for uninterrupted subscription renewals.
Users have the flexibility to customize their experience by setting the maximum period they are willing to auto-subscribe. This empowers users to tailor their subscription preferences based on their specific needs and preferences.
We used snforge for testing which helped us run tests against the fork and make changes. We also used Voyager to run manual testnet testing. We found the Voyager UI very easy to use.
