Rivo Smart Contract Wallet

Overview

Rivo wallet is an Account Abstraction (AA) Wallet and DeFi Marketplace offering one-click access to DeFi yields across multiple blockchains. Combined into one DApp, it leverages new crypto technologies (ZAPs, Account Abstraction) to create a familiar Web2-like experience of earning in DeFi.

Rivo Wallet is designed to simplify and enhance your investment experience in the DeFi space. Utilizing account abstraction technology, you can sign up and log in to your web3 wallet using Google or your social media accounts like X (Twitter) or Discord, eliminating the need for a seed phrase. This makes Rivo more accessible to new users unfamiliar with crypto wallets and provides enhanced security.

Key Benefits of Smart Contract Wallets

Not all of the features described below are available in Rivo Wallet at the moment, the wallet is still under active development.

• Two-Factor Authentication (2FA)

Smart contract wallets have two-factor authentication, which requires two different components to confirm a user’s identity, such as: a password; a phone; a fingerprint. This is a habitual web2 tool that provides an extra layer of security and prevents unwanted access.

• Easier Recovery

Smart contract wallets are programmable. Imagine a situation — you’ve lost your original private key and can’t get access to your funds. In a pre-AA era, it was a real issue. But now thanks to a multi-sig transaction with predefined ‘guardians’ e.g. friends or relatives. This removes the need for the owner to store seed phrases.

• Flexible Gas Fees

Using APIs that support ERC-4337s, smart contract wallets create more flexible fee policies. By having this in an arsenal, developers can sponsor transactions on behalf of users and provide so-called gasless payments. Besides, this makes it possible for users to pay for gas in any ERC-20 tokens (e.g. USDT).

• Various Signature Schemes

Smart contract wallets could be programmed the way making it possible to use a different signature scheme apart from ECDSA used in Ethereum by default. This signature scheme could be substituted with multi sig, social recovery, or a quantum-resistant option like Crystals-Kyber.

• Spending Limits For Different Signers

Smart contract wallets can be set to recognize more than one valid signer, which could be used to set different spending limits for different signers. For instance, a user could add both their laptop and Ledger hardware wallet as signers, allowing transactions of up to 0.05 ETH through their laptop, but requiring that the hardware wallet be used for larger transactions.

• Addresses: Allowlisted and Denylisted

Smart contract wallets empower users to allow or refuse one or more wallet addresses access to their account. Allowed addresses enable the user to grant access, and denied ones would block or deny accounts access. This improves security and gives users additional control over their account.

• Multi-Sig Wallet Safety

Multi-sig wallet support strengthens the security of transactions by requiring various people to authorize them. This makes it rather hard for a single person to steal funds or execute unauthorized transactions.