Team-Based Wallet Solution for Hackathons, Grants, and Accelerators
The blockchain industry is constantly evolving, and hackathons, grants, and accelerators have become important events for developers to showcase their skills and compete for prizes. However, managing teams and distributing funds can be a time-consuming and risky process for both organizers and participants. Our proposed solution is to create a team-based wallet that streamlines the process of team creation, fund management, and prize distribution while addressing security concerns associated with EOA wallets.
The primary objective of this project is to create a secure, efficient, and user-friendly team-based wallet solution for hackathons, grants, and accelerators. The solution should address the following key challenges faced by organizers and participants:
The proposed solution will leverage web3auth for user authentication and address storage, enabling team leaders to easily create and manage teams. Upon team creation, a new multisig safe wallet will be automatically created with the restriction that every team member must sign every transaction.
To address the security concerns with EOA wallets, the team-based wallet solution will leverage the account abstraction feature provided by the Safe Core SDK. This will ensure that the private keys of team members are not exposed and the funds in the team wallet are secured against attacks.
The Gelato Relayer will be used to make the transaction gasless, reducing the burden of gas fees on participants. The option for every team to submit a refundable stake using the Stripe SDK will add an extra layer of security and trust for organizers.
One of the key benefits of the team-based wallet solution is its flexibility. Team members can distribute funds between themselves in any way they choose. They can divide the funds equally or set up a payment stream using Superfluid to keep funding future work on the project. The possibilities are endless.
Overall, the team-based wallet solution will streamline the process of team creation, fund management, and prize distribution while addressing the security concerns associated with EOA wallets. The use of account abstraction and the flexibility of the solution make it an ideal choice for hackathons, grants, and accelerators.