Custodial Invictus Wallet
M
Martin
Recently I've been recommending Invictus to people with various degree of interest in crypto.
The point is for those who don't care about ETH, fees, blockchain, etc. not to be exposed to it. They could lock their funds, change auto-renew lock or claim and sell ICAP through Invictus without paying fees.
This wallet should not get voting power. Voting will be on-chain and while Invictus could theoretically make one Yes and one No transaction on all custodial users behalf, it would require trust that Invictus is voting faithfully.
Matthew Finlayson
Currently I don't think we'll go the custodial route, the goal is instead to have users be in control of their assets, but with the UI/UX being friendly such that new users don't need to know anything about ETH and fees. This will be a reality once we move across to L2 wallets as we can pay for all user fees using relayers :)
M
Martin
Matthew Finlayson: Cool, feel free to close this. No point in going for inferior solution after getting L2 done. Do you have a tentative ETA for L2? I'm curious, what did you pick?
Matthew Finlayson
Martin do you have any L2 solutions that you'd recommend? We are busy looking into a few alternatives, this seems like the likely winner as even if we had full custody and kind of voting or on-chain tx would still incur tx fees if not on L2
M
Martin
Matthew Finlayson: OK, so first off, here's how seriously you should take my words: not much.
I follow the tech aspect probably closer than most with me being a dev, but I'm not a blockchain/Solidity dev.
From a user perspective I own SNX on optimistic rollups and Loopring wallet on zk-rollups. I'm satisfied with both.
Another project I'm involved in as a user is planning to adopt Arbitrum. I am not familiar with any project trying to switch to Matic/Polygon. So that's my practical L2 knowledge.
My theoretical knowledge says you probably want optimistic rollups. They are EVM compatible so the transition should be easier, composable and while the 7 day withdrawal period may suck but I don't see it as much of a problem for a buy-and-hodl fund. ZK is more involved and OVM is "here". On the ETH mainnet. Right now. Albeit as a test run.
In case you didn't have the time to catch up about L2s Vitalik had a nice post on his blog accompanied by explanation at Bankless, but I'm pretty sure I'm not saying anything new.
So what I'm trying to say in such a long post, maybe try contacting DeFi people facing similar decision, e.g. Kain Warwick (SNX) or 0xMaki (SUSHI) and ask them about their opinions and experiences. I'm sure they'd spare a paragraph of their time to explain their issues and experiences.
M
Martin
I forgot to mention that Uniswap v3 will probably also roll with ORs. If the Unipig test is anything to go by.
Edit: "dYdX plans to launch their scaling solution in partnership with StarkWare in the next two weeks..." (as of 2021-2-20)
M
Martin
Alternatively, an L2 smart contract wallet could also work and it would solve the voting issue, but to be honest I just really want to be able to tell my non-crypto friends or parents "Hey, just drop $100 on C20, and forget about it, you might thank me in a couple of years."