[SEP 34] [OBRA] Resource Lock Module - Cometh & Gnosis Guild & OneBalance

Please refer to the full proposal text on the SafeDAO forum. Some parts may have been removed to fit within the character limit on Snapshot.

Title:

[SEP 34][OBRA] Resource Lock Module - Cometh & Gnosis Guild & OneBalance

Authors:

@Ankit_Chiplunkar

Created:

2024-07-04

Abstract

The Ethereum network transitioned to a rollup-centric roadmap in 2020. This has resulted in an abundance of blockspace, but has resulted in a broken cross-chain UX. Users today have to either wait 10s of minutes or pay 10s of dollars to execute a cross-chain transaction.

This proposal is to develop a new module on top of SAFEs which makes cross-chain interactions instantaneous. This module enables resource locks in SAFEs and removing cross-chain friction.

Aligned strategy

Which pre-approved strategy is this initiative driving forward?

Strategy 2: Foster Module Ecosystem

Funding request

What resources are being requested from SafeDAO in USDC?

75k USDC

If applicable, upfront funding

Indicate if upfront funding is needed. Refer to 'Payout’ under [Get funding from SafeDAO] for lump sum payment options.

N/A

Relation to budget

State the requested funding as a percentage of the total initiative budget (e.g. if you ask for 50k for Strategy 1: 25%)

33%

Metrics and KPIs

Which metrics and KPIs will the initiative be measured against?

1. Increase in cross-chain SAFEs with Resource Lock Mod enabled.
2. Increase in TVL in Safes with Resource Lock Mod enabled
3. Increase in Total number of Safes with Resource Lock enabled
4. Increase in developer engagement with Resource Locks
5. Increase in network penetration of SAFE (total number of networks where SAFE is used)

Initiative description

What is the initiative about?

The Ethereum network has adopted the rollup centric landscape for scaling itself. Although this has resulted in abundance of blockspace (we can one click deploy a new L2 using RAAS) cross-chain UX is the bottleneck now. Gone are the days of the last DeFi summer when everyone was experimenting with blockchains at scale and retail interaction with EVMs were seamless.

An Ethereum user today needs to hold balances in different EVM chains, spend 10s of dollars or 10s of minutes moving those balances to a target chain and perform the action that they want to do. Causing significant drop-off or migration of retail users to the Solana ecosystem.

A cross-chain interaction today comprises of three core steps.

1. Input transaction on origin chain: The user locks their state and makes a request in an escrow contract or pings the bridge contract on the origin chain.

2. Waiting for finality of the input transaction: A trusted third party either a L1→L2 bridge (Optimism Bridge, Arbitrum bridge), an validator enabled Arbitrary Message Bridge (LayerZero, Wormhole) or a solver network (Across, UniswapX) waits for finality on origin chain.

3. Output transaction on target chain: After waiting for finality the trusted party satisfies users request on the target chain.

Today step 2 i.e. waiting for finality is the cross-chain UX bottleneck. OneBalance introduces the concept of credible accounts:

Smart Accounts + Resource Locks = Credible Accounts

Using resource locks smart accounts can lock their state at the speed of signing removing the need to wait for finality and unlocking instantaneous cross-chain UX.

After resource locks the solver on the target chain can instantaneously satisfy the users intent on the target chain, without waiting for finality and decoupling the input and the output transaction.

We already have a host of partners ready to design, build and distribute credible accounts across the EVM ecosystem. This module is a way to convert SAFEs into credible accounts.

1. List of partners
2. How we will work together

Current status

Does the offering (product/service) already exist or is the funding used to create it?

The design for Resource Lock Mod contracts is ready and discussed with Gnosis Guild and OneBalance team. We need the grant to:

1. Implement the design in solidity
2. Get the module audited
3. Integrate Resource Lock Module in Safe Wallet and Safe Core SDK

Risks

What risks does the initiative entail?

The risks involved are implementation and execution risks. Given the experience of author teams the risks should be minimal.

Timeline and milestones

Provide a detailed timeline or roadmap, include key milestones

| Week | Focus | Outcomes | USDC | $SAFE | | --- | --- | --- | --- | --- | | 1-4 | Design, Documentation and Development | Development of Module contracts | 25k | N/A | | 5-8 | Auditing the module | Auditing the module | 50k | N/A |

Initiative lead

Who is the accountable initiative lead? (individual or organization)

1. Cometh
2. Gnosis Guild
3. OneBalance

Team

How many individuals in total will be working on this initiative and what role do they have? Please provide a brief background of the team members, highlighting their relevant experience and expertise

We would have 1 full time engineer working on this module, and will also share architecture design resources from the three teams.

Additional support/resources

Are there any resources (non-financial) requested from the Safe Ecosystem Foundation or the core contributors?

TBD

Implementation dependencies

Does the implementation of this initiative require any prior changes in the current governance processes, e.g., updates to the governance framework, or have any other dependency? If yes, please specify these. *Note that the funding of the initiative will be dependent on the approval and (if needed) successful implementation of such necessary governance modifications or any other dependency.*

The Resource lock Mod depends on the Delay Mod.