Introducing Fund Deposit Kit

Overview

Today, we are thrilled to announce the launch of the Fund Deposit Kit. The Aarc Deposit Kit is a key component of our advanced Smart Transaction Protocol. This innovative kit aims to simplify asset transfers from externally owned accounts (EOA), major centralized exchanges, or fiat on-ramps to any chosen destination address.

With features such as batch transactions, gas abstraction, and fiat-onramp integration, this toolkit streamlines the complex asset transfer process into just a few simple steps. It simplifies the fund onboarding process, supports various token standards, and offers unique features to enhance the efficiency and security of transactions. It is designed to facilitate asset onboarding from the following sources to any destination address:

• Browser wallets and any externally owned accounts (EOA)
• Popular centralized exchanges (CEX)
• Fiat on-ramps for new Web3 users

The Fund Deposit Kit streamlines asset transfer, combining the ease of web2 with the full functionality of web3 under the hood. The key components of the Kit include:

• SDK: This versatile library facilitates the deployment, seamless integration, and utilization of the deposit kit.
• Widget: An intuitive user interface allowing end-users to deposit their assets effortlessly.
• API: A programmable API that provides the necessary call data for an optimal flow, including sponsoring gas fees or enabling cross-chain asset transfers.

Helping dApps to onboard the next million dollars.

To improve the user experience of web3 and attract more users, many dApps are adopting Smart Contract Wallets (SCW) or embedded wallets. Many DEXes and Perps also incorporate 1CT (1-click trading) experiences. However, this transition will only happen if adding funds to wallets becomes smooth and seamless.

Common Issues in Fund Onboarding

1. Multiple signatures are required to transfer multiple assets, adding an extra layer of manual overhead and costing energy and time.
2. Most first-time users acquire assets through a centralized exchange (CEX) before transferring them to a wallet.
3. Gas tokens are necessary when transferring assets to cover transaction fees on the blockchain.
4. Challenges may arise with cross-chain bridging, which involves transferring assets across different blockchain networks. Delays can occur due to network congestion.
5. Spend Approvals to random contracts compromise security and prevent unauthorized transfers.

Each of these problems results in the loss of valuable customers. To make web3 accessible to the next billion users, we need to implement a more efficient fund onboarding process. Aarc Deposit Kit is here to solve these issues! 🚀

Key Features of the Deposit Kit

1. Single-stop solution for fund abstraction: We combine inflows from exchanges, browser wallets, and on-ramps into a single kit, solving all fund-related issues in one place.
2. Dynamic Smart API for Developers: Aarc offers an API that dynamically returns call data based on developer preferences, improving the development experience.
3. Enhanced User Experience: End-users can migrate to smart accounts without incurring gas fees or choose to pay gas fees using any token. The SDK also supports batch approvals through the permit2 feature.
4. Fast and Accurate: No phished RPCs, no wrong addresses. Developers get the best route and accurate call data, and end-users experience fast deposits with zero failures.
5. Security: We do not require asset approvals to any smart contracts on-chain, except for Permit2 by Uniswap, which facilitates gasless and forwarder flows.

How can you have a smooth and easy fund onboarding?

Consider the following UX improvements to simplify the fund onboarding process for every user.

Batch Transactions

Execute multiple asset transfers effortlessly with just a single click. The Fund Deposit Kit allows you to bundle transactions into one operation, reducing time and gas fees whenever possible. The Kit does not require asset approvals for any on-chain smart contracts, except for Permit2 by Uniswap. For example, you can transfer assets like USDT and DAI from one address to any destination address in a single on-chain operation.

Gas Abstraction

With the Fund Deposit Kit, you can eliminate the most significant obstacle: gas fees. Users can transfer assets to the dapps embedded wallet by covering gas expenses without needing native gas tokens. Additionally, you can offer them the option to pay gas fees using the same asset they are moving.

One flow to rule them all

You can now serve and onboard users from all segments - Web2 users, Exchange users, or users on other chains - through a single solution. There is no need to guide the user through different onboarding steps in different UIs across various vendors. This approach is intuitive for the user and makes it easy and fast for developers to integrate everything simultaneously.

Ready to maximize your application's potential?

The next set of users will not be adopting traditional browser extension wallets. Instead, they prefer Smart or Embedded wallets that offer a seamless experience.

Prepare your app for mass adoption by using the Fund Deposit Kit now.

If you're as excited about the future as we are, we want to hear from you. Reach out to us via Twitter. If you have any inquiries about integrating with us, please book a meeting with our team!