PGP Proposal: Banana wallet by Infinito labs

🌱 Push Grants Program (PGP) Proposals
1

  1. Project Name Banana wallet Infrastructure

  2. Email h.farazul@gmail.com

  3. About You
    We are a team with skillsets in product and software development. We have professional experience in web2 and web3 and have worked on multiple side projects together.

Haque Farazul has worked with Push protocol and Mastercard as a product manager and has been exploring and building projects on blockchain for 1.5 years.

Rishabh Gupta has worked for Goldman Sachs, and has helped multiple web3 startups with developing using account abstraction and zero-knowledge. He has also been in this space for 1.5years.

  1. Project TL:DR
    Banana wallet is a smart contract wallet Infrastructure that any application can integrate and provide their users with a UX and security at par with a centralised solution with a non-custodial wallet.

  2. Proposal Category

  • Other \ Infrastructure

  1. Project Overview
    A few months back, a centralised crypto platform for staking froze withdrawals, Both my co-founder and I here have funds still stuck on that platform. Lately, we have also seen a few such platforms being hacked or going bust and users losing all their funds. It’s increasingly becoming difficult to trust centralised platforms.
    So we started exploring decentralised solutions. But unfortunately, they are difficult to use, and it’s time-consuming and **mentally exhausting **to learn all the jargon, create a wallet and get funds on it to do anything. Then there is a threat of compromise of private keys and many smaller UX concerns.
    We at Infinito labs are building banana wallet, a smart contract wallet Infrastructure that any application can integrate and provide their users with a UX and security at par with a centralised solution without compromising on ownership of the user.
    We achieve this by using smart contract wallets based on an account abstraction solution. This enables us to provide custom features such as zero-knowledge proof-based two-factor authentication system. This 2FA prevents a single point of failure, and even if your private key is compromised, the hacker will not be able to drain users’ funds.
    In our roadmap, we aim to integrate more such functionalities which could improve the UX and security for the user, such as authentication using touchID and faceID, social login, self-recovery (without seed phrase) etc.

  2. Value Proposition to Push Protocol
    All kinds of notifications/ communication with the user is powered using Push protocol.
    Currently, when the a hacker makes three wrong attempts, the user is notified wrong attempts are being made and private key might have been compromised.
    In future, notification for transaction, request for transaction, and recovery could be done using push protocol.

  3. Funding Requested
    Figure should be in $PUSH tokens
    $10k in Push tokens

  • $3500 - 2 Smart Contract dev interns to integrate safe(gnosis safe) and launch on polygon, and optimism
  • $1500 - Full stack intern to build SDK
  • $2500 - Generalist for user research, designing user experience and BD.
  • $1500 - Infra costs
  • $1000 - Marketing/ Business Development/ Misc
  1. Milestones
    Milestone 1:
  • Build the functionality of zk two-factor authentication (fraud management) on the application (done)
  • Validate the prototype with ~50 users. (In-progress)
  • Talk to customers to define and refine the needs (In-progress)

Milestone 2:

  • Build SDK of two FA(fraud management) (To-start)
  • Build the functionality of authentication using touch ID (To-start)

  1. Wallet Address
    0x2e6A50599c211Fc563439383aB8112ed3De2CB69

  2. Relevant Links & Attachments
    Github: https://github.com/nlok5923/hacking-at-ethindia
    Application Link: https://banana-smart-wallet.netlify.app/
    Demo: https://youtu.be/pwRpqJxBWdg
    devfolio link: https://devfolio.co/projects/banana-smart-wallet-efca
    Twitter: https://twitter.com/wallet_banana

  3. Referral
    Harsh Rajat, co-founder of Push Protocol
    Richa Joshi, co-founder of Push Protocol

2

Adding a few other details.

Other Recognition
We participated in ETHIndia with this project. We won a few bounties which are listed below

  • First prize :1st_place_medal: from Ethereum Foundation
  • First prize :1st_place_medal: from Safe(prev. Gnosis safe)
  • First prize :1st_place_medal: from Gnosis chain
  • Third prize :3rd_place_medal: from Coindcx
  • And pool prizes from filecoin and push protocol

Partnerships

  • We are currently working with two dApps to build an in-app wallet for them.
  • We are having conversations with the Shardeum community to integrate our wallet with dApps that have high engagement.
  • There is interest from the reef community as well.

Redefined Milestones

Milestone 1: (Dec 2022 - Jan 2023)

  • Build a wallet app with zk-2FA (done)
  • Validate the wallet experience with 50 people (In-progress)
  • Partner with 5 dApps to integrate our wallet. (In-progress)

Milestone 2: (Jan 2023 - Feb2023)

  • Build SDK for partner dApps (To-start)
  • Integrate the SDK with 5 dApps (To-start)
  • Measure the performance of the wallet in comparison to other wallets on the dApp
  • Build an authentication mechanism using Touch ID for better UX and security
  • Build a wallet recovery mechanism

Future
Build an end-to-end wallet service for applications that solves onboarding and provides a secure and seamless experience.

Push Protocol benefits:

  • The users we test with will be new users to the Push protocol. So we aim to get 50 new end users to Push when testing our product.
  • The five dApps that we integrate with. All the users on the dApp that would integrate us will also be new users of Push.
    One of the potential customers of the banana wallet has 80k users. So even if 10% of those users use the banana wallet, Push gets 8k more users just from one Integration of our wallet.
3

thank you very much for the detailed information provided here @hawk
Being in build stage its always tough to forecast, but in order to provide more quantifiable goals to measure the ROI for Push it would be great if you could also attach numbers like

  • Partner with 5 dApps - does this mean a full implementation?
  • How many users are you targeting for Milestone 1?
  • How many notifications in total per user?
    • can you list them?
  • Whats the recurrence (tentative/Avg) of these notifications?

Can you also elaborate a little more on your strategy for more users acquisition?

As per Milestone 2 would be interesting to learn more how your team is planning to increase the users adoption.

Now that we have the new Push Grants Program v2.0 installed your grant can take that route, however these are points the committee always take in consideration when analyzing applications.

As discussed, please feel free to join us on Office Hours so you also get feedback from the community and end up with a proposal that already passed some level of validation by community members.