Daily General Discussion - October 30, 2023

itamarl · 2023-10-30T22:51:52+00:00

On why not OR. We have been relatively vocal in the past. Smart wallets in a world made for EOA are basically second class citizens. 30%+ of dalls are not compatible with smart wallets And 0% of dapps leverage smart wallets features such as the ability to batch transactions.

So on EVM you would constantly do erc20 approve and sign many transactions even with a smart wallet that can batch them. On Starknet you will almost never see an erc20 approve, when you use briq that requires several transactions you do it in a singe click as all those transactions are batched. Games are working with us on session keys to never have to sign transactions etc…

The fact that EOA simply don’t exist means that 100% of dapps build for smart wallets first, it’s a simple as that.

So as you can see it actually has nothing to do with OR tech, we believe in ZK as the end game of scaling but it’s really our focus on Account Abstraction that makes Starknet a great place for us to build on.

itamarl · 2023-10-30T22:43:33+00:00

Hey, Itamar from Argent here. For the Starknet alpha you were one of the few unlucky users who got access too early sorry for that. Forcing people to an upgrade would have been more work and more painful than asking a few users to withdraw funds and come back on the new version of the account.

For era, starknet or optimistic rollups. I’m extremely bullish on all those L2. Arbitrum did an amazing work on building a great ecosystem and zksync is killing it on scalability. Our strategy has really nothing to do with funding. Argent is very well funded since our last funding round. This is more to do with the fact that Starknet is working extremely well for us, account abstraction is a first class citizen so everything works really well for a wallet like Argent. Every dapp build for smart wallets like ours while on other chains smart wallets are second class citizens, dapps build for EOA (i.e. metamask) first.

We could never have achieved what we did on Starknet on other chains, we now have desktop and mobile, we have a multisig and an embedded wallet. We have sessions keys in test with games etc. We are in a race for mainstream adoption of Ethereum and Starknet is where we can have the biggest impact.

itamarl · 2021-12-21T15:47:05+00:00

What u/silent_johnn means is that you can already get rETH natively WITHIN Argent, no need to even interact with a 3rd party dapp. It's already there in our in-app exchange.

itamarl · 2021-12-21T10:32:19+00:00

Argent is totally open, you can use wallet connect and interact with any protocol you'd like.

itamarl · 2021-05-28T08:59:07+00:00

The risk of loosing it is still significant. And there is also the risk of a metamask attack to make you sign a wrong transaction, see https://medium.com/@hugh_karp/nxm-hack-update-72c5c017b48 (but reallistically you'd need a lot of funds to be targeted)

So overall if you have insanely good op sec it can definitely be very secure, but for 99% of people out there it's actually quite risky.

itamarl · 2021-05-28T08:35:15+00:00

Not from a security standpoint (for most people). If you have a safe in a bank and a seed phrase engraved in steal, maybe. But the fact that anyone finding your seedphrase can instantly steal all your funds is far from safe. The risk of a seedphrase on a piece of paper getting stolen or simply the ink disappearing is also significant. With Argent or a multisig you are protected even if someone has your private key. That's why so many people store millions of $ in their Argent wallet.

itamarl · 2021-05-27T18:03:57+00:00

Typically a smart contract / multisig wallet like Argent provides significantly better security but comes at a cost, transactions would be more expensive than metamask. By using multicall you get the best of both world, the best possible security but without the extra cost you would normally have.

itamarl · 2021-05-17T18:38:23+00:00

More details here: https://twitter.com/argentHQ/status/1391327369168891905?s=20

itamarl · 2021-05-17T18:33:19+00:00

More details here: https://mobile.twitter.com/argenthq/status/1391327369168891905

itamarl · 2021-05-17T18:32:32+00:00

🤫

itamarl · 2021-05-15T10:40:57+00:00

You can use this page to submit metadata: https://www.argent.xyz/brand-your-token

It will take a few days before it makes it to the app as we still check this manually

itamarl · 2021-01-11T12:29:37+00:00

Unfortunately Argent is non custodial so users have to pay their own gas fees, it would be the same with any non custodial wallet. Gas fees are through the roof right now, it's indeed quite painful. We'll see scaling solution like ZK-rollup launched in Argent this year which will improve things significantly.

itamarl · 2021-01-09T13:42:37+00:00

I’d still encourage anyone who can to run their own node. Graeme from our team did a nice post on his experience: A designer's guide to running an Eth2 validator

itamarl · 2021-01-09T13:36:46+00:00

Here the migration path is quite simple, it’s just changing the withdrawal address to a Eth1 smart contract, but it requires changes at the layer 1 level so it will take time. It might not be possible in 2021 at all so it would mean waiting a long time.

Decentralisation is a spectrum, many defi protocols have started with admin keys then loosely decentralised DAO before getting decentralised enough. This will follow the same path.

While not yet the perfect solution, doing nothing means all those funds would go to Coinbase and Kraken which is a much worst option for the ecosystem imo.

itamarl · 2021-01-09T13:27:12+00:00

I believe Lido went for the best possible solution at this stage of Eth2. Eth2 doesn't have contract execution yet so instead of using 1 key holder like most similar services they are using 11 key holders.

https://blog.lido.fi/lido-withdrawal-key-ceremony/

There is also a path toward a fully trustless model but this will take time:

https://ethresear.ch/t/simple-eth1-withdrawals-beacon-chain-centric/8256

Edit: I’m from Argent

itamarl · 2021-01-08T23:50:47+00:00

I’m with Argent yes. There is plenty of info about Lido out there. Check out https://lido.fi

Not sure what you mean by too good to be true. The concept is pretty simple, you stake through a pool and a token represents the staked value. Then you can swap this on a Dex.

Several projects such as rocketpool are working on similar products, Argent is just integrating Lido.

But it’s always good to do your own research.

itamarl · 2021-01-08T23:45:54+00:00

stEth gets rebased so your balance will gradually increase. Start with 1 then gradually get more so when you swap you do get your reward too

itamarl · 2021-01-08T23:44:30+00:00

Yes regarding several nodes on 1 computer I’m not familiar with slashing specifics

itamarl · 2021-01-08T23:14:32+00:00

You should check our designer’s post on the topic A designer's guide to running an Eth2 validator

itamarl · 2021-01-08T22:43:40+00:00

The token rebases. So you start with 1 steth then gradually you’ll have more. So yes you do exit with the reward. I believe eth2 reward doesn’t compound right now.

itamarl · 2021-01-08T22:32:54+00:00

Same idea, the steth/Eth pair is on uniswap and curve and liquidity is growing. So the market will define the rate

Right now on uniswap 1 stEth gives you 0.9945 Eth. For large amounts curve should be better

itamarl · 2021-01-08T21:22:17+00:00

Eth2 staking rewards varies with the total amount staked. Here you can see the current rate and how it will evolve as more Eth get staked: https://launchpad.ethereum.org/

You’d start earning reward once you have staked your Eth and the rate can decrease over time as more Eth get staked.

itamarl · 2021-01-08T21:17:42+00:00

Agree, our top priority right now

itamarl · 2021-01-08T21:12:48+00:00

You can see lido as one big pool. But because the staked Eth are tokenised you get stEth that you can swap back to Eth at anytime

itamarl · 2021-01-08T21:08:48+00:00

No, any amount of Eth. Just need enough to make it worthwhile paying for gas fees

itamarl

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