Chain & Account Abstraction with Intents
Lumia L2 is committed to revolutionizing the user experience in the DeFi space by integrating cutting-edge technologies like Chain Abstraction (CA) with Account Abstraction (AA) and Intents. Lumia L2 aims to create a seamless, user-friendly, and secure trading environment for both seasoned DeFi users and newcomers from the Web2 world.
Chain Abstraction with Particle Network
The Web3 experience is far from feeling intuitive or universal. Different chains incentivize users to exclusively utilize their network and require different wallets to interact with them. Meanwhile, protocols decide which chain to deploy on by prioritizing co-marketing activities, TVL, and market sentiment, not technology or innovation. This creates siloed and incompatible ecosystems, stunting Web3’s growth and limiting it to technically aware users.
The solution to this problem is chain abstraction: the simplification of users’ interactions with blockchains, allowing them to use any product and asset without worrying about managing multiple wallets, bridging, underlying blockchains, etc.
By integrating Particle Network, Lumia L2 is working towards creating a unified and seamless user experience across different chains, fostering broader adoption and facilitating easier interaction for users, regardless of their technical background.
Typical Flow in Chain Abstraction
A fully chain-abstracted experience leveraging zkEVM L2 technology could unfold as follows:
Alice discovers a Play-to-Earn dApp deployed on Arbitrum, an Optimistic Rollup L2 solution.
Alice initiates interaction with the dApp using her Universal Account, which is compatible with multiple chains including Lumia. The account abstraction layer, implemented using EIP-4337, manages the complexities of cross-chain interactions.
As Alice starts using the dApp, her assets (native to our Lumia L2) are utilized for basic dApp interactions. The bridging process is abstracted away from the user:
A cross-chain interoperability protocol (e.g., LayerZero or Hyperlane) facilitates the asset transfer.
Lumia L2's built-in bridge smart contract locks the assets on our chain.
A corresponding amount is minted on Arbitrum through its bridge contract.
This process is executed atomically as part of her transaction, leveraging zk-proofs for rapid finality.
After engaging with the dApp, Alice earns tokens native to Arbitrum. She decides to purchase an NFT for her friend Bob's birthday. Unknown to Alice, this NFT is minted on Optimism, another L2 solution.
The purchase and transfer process are seamlessly handled:
The interoperability protocol initiates a cross-chain swap from Arbitrum to Optimism.
The NFT is transferred to Bob's Universal Account, which is compatible across multiple chains.
Throughout this process, Alice only uses a single gas token i.e. LUMIA, with gas fees for other chains being abstracted and handled in the background.
Bob, upon receiving the NFT, decides to take a loan against it on Solana. The process unfolds as follows:
The Universal Account, leveraging a cross-chain oracle network, verifies the NFT's ownership and value across chains.
A smart contract on Solana creates a wrapped representation of the Optimism-based NFT.
This wrapped NFT is used as collateral for the loan, with the loan amount being disbursed in Solana's native token.
Bob then uses the loan proceeds to purchase a Bitcoin Ordinal
An atomic swap is executed between Solana and Bitcoin networks.
The Ordinal is transferred to a Bitcoin address associated with Bob's Universal Account.
This entire process, from Alice's initial interaction to Bob's final purchase, is executed within minutes through a unified interface. The underlying complexity of cross-chain interactions, bridging, and asset transfers is entirely abstracted away, providing a seamless user experience while leveraging the strengths of various blockchain networks.
Account Abstraction with ThirdWeb
Account Abstraction is a game-changing concept that enhances user experience by making user accounts more flexible and functional. Instead of using an Externally Owned Account (EOA), a Smart Contract can act as the user's account, powered by code instead of the Elliptic Curve Digital Signature Algorithm (ECDSA).
Lumia L2 integrates ERC 4337-compliant Smart Account solution, which works with any Paymaster and Bundler service. This integration brings several benefits to the Lumia L2 ecosystem:
Simplified User Onboarding: With AA, users no longer need to worry about creating and managing traditional EOAs. Lumia L2's Smart Account creation process is streamlined, making it easier for Web2 users to enter the DeFi space without the complexities associated with traditional wallets.
Gasless Transactions: Paymaster service enables Lumia L2 to sponsor transactions or accept ERC-20 tokens as payment for gas. This eliminates the need for users to hold native tokens to cover gas fees, providing a frictionless trading experience.
Enhanced Security: Smart Accounts are enhanced by different modules that allow the execution of arbitrary logic before validating a userOp. This enables Lumia L2 to implement advanced security features like session keys, multi-chain validation, and passkeys, ensuring the safety of user funds.
Flexible Authorization: Lumia L2's Smart Accounts are signer agnostic, meaning users can utilize any authorization package as long as a signer is passed to the SDK during Smart Account creation. This flexibility allows users to choose their preferred authentication method, enhancing user experience and adoption.
Intents with Lumia Stream
Lumia L2 integrates Lumia Stream's Intents to provide a superior trading experience for its users. Intents are a novel approach to order fulfilment that offers several advantages over traditional on-chain trading:
MEV Protection: Lumia Stream provides protection against Maximal Extractable Value (MEV) or front-running attacks. This ensures fair trade execution and prevents potential financial loss, instilling confidence in Lumia L2 users.
Optimal Price Efficiency: Lumia Stream's Resolvers source liquidity from across the entire DeFi market, providing Lumia L2 users with optimal order matching and minimizing potential losses from negative price impact.
Intent-based Order Fulfilment: Unlike classic swaps, Lumia L2's integration of Lumia Stream allows for intent-based order fulfilment. Liquidity Nodes compete to fill orders and provide the best price, following a probabilistic order assignment mechanism. This ensures that users receive the best possible price for their trades.
Technical Implementation
To integrate Account Abstraction and Intents into Lumia L2, the following technical components are utilized:
ThirdWeb SDK: Lumia L2 leverages the ThirdWeb SDK, an Account Abstraction toolkit built on top of ERC 4337. The SDK provides a full-stack solution for tapping into the power of Smart Accounts, Paymasters, and Bundlers.
Entry Point Contract: Lumia L2 utilizes the Entry Point contract, a singleton smart contract that acts as the core of the Account Abstraction flow. This contract serves as the entry point to execute bundles of userOps.
Smart Account Contract: Lumia L2's Smart Account is an ERC 4337-compliant smart contract that acts as the user's wallet, storing all user assets. It is programmed to validate transactions before execution and requires a signer to initiate transactions.
Bundler Integration: Lumia L2 integrates with ThirdWeb's Bundler service, which collects, bundles, and submits userOps to the EVM network. The Bundler watches the mempool for userOps and sends them on-chain by calling the Entry Point contract.
Paymaster Integration: Lumia L2 utilizes ThirdWeb's Paymaster service, which acts as a gas tank and sponsors transactions on behalf of the user. The Paymaster can be configured to either sponsor transactions or accept ERC-20 tokens as payment for gas.
Lumia Stream SDK: Lumia L2 integrates the Lumia Stream SDK to enable intent-based order fulfilment. The SDK provides the necessary tools and libraries to interact with 1inch Fusion's Resolvers and benefit from MEV protection to optimal price efficiency.
Conclusion
By integrating Chain and Account Abstraction with Intents into its ecosystem, Lumia L2 is set to redefine the DeFi user experience. The combination of Particle Network's Chain Abstraction with ThirdWeb's AA solution and Lumia Stream's Intents creates a powerful platform that offers simplicity, security, and cost-effectiveness.
With gasless transactions, MEV protection, optimal price efficiency, and intent-based order fulfilment, Lumia L2 removes the barriers to entry for Web2 users and provides a seamless trading experience for all.
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