Scaling to 13,000 - Holdstation's Journey with AA Wallet

Scaling to 13,000 - Holdstation's Journey with AA Wallet

Pathway into the zkSync Era

Holdstation embarked on a journey marked by innovation when Vitalik Buterin outlined the potential of Layer 2 scaling and account abstraction. This vision led us to zkSync, the pinnacle of zk-Roll Up technology.

zkSync, tier 4 of zk-Roll Up technology, offered high scalability and lightning-fast transaction speeds, setting the stage for a new era in blockchain development. The crucial element was the native support for Account Abstraction in zkSync's codebase, giving it an edge over other chains that relied on relayers to build similar functionality.

Our development journey was both exciting and challenging. Applying zkSync tech posed difficulties as it wasn't fully compatible with the Ethereum Virtual Machine (EVM). This required us to make adjustments and refinements. Fortunately, the comprehensive documentation from Matter Labs, helping the team navigate the complex process of bringing our ambitious vision to life.

Redefining User Experience with Account Abstraction

In essence, it means simplifying the complex world of blockchain technology, making it more accessible and user-friendly. Users don't need to dive into the underlying technology; they want a seamless platform to monitor their assets, make investment decisions, and enjoy the convenience similar to their day to day transactions on banks.

  • 🗝️ Easy Onboarding: Say farewell to seed phrase stress. Holdstation has introduced social login and seedless recovery to make it easy to get started.
  • 💰 No ETH no problem: With Account Abstraction, you can make transactions using stablecoins or authorised tokens.
  • 🆓 Fee-Free Trading and Simple Referrals: Trading without fees, just like your favourite centralized exchanges. And when it comes to referrals, anyone can join in, even if your wallet doesn't have a cent, you can still register for the referral programs.
  • 🔒 Spending Limit: Customize your maximum transfer amount to ensure your assets stay safe.

These are the early chapters in the story of Account Abstraction, and at Holdstation, we are poised to usher in innovative solutions targeting the migration of 30 million traders and trillions of dollars from Web2 to Web3 in the traditional CFD markets.

User Experience, Statistics, and User Feedback

The user experience began with curiosity, and it didn't take long for users to discover the benefits of Account Abstraction. As a result, we saw a remarkable increase in the adoption of Account Abstraction wallets. More users started making deposits and engaging in on-chain transactions for swaps and trades. 

In just one month, we've achieved some remarkable milestones:

Holdstation AA Wallet Created
  • 11,000 smart wallets created on our iOS and Android Apps.
  • Users engaged in a total of 7,500 on-chain transactions on AA wallets.
  • An impressive increase from a modest 8% to a substantial 22% in the transition from EOA to AA transactions on the Holdstation Wallet.
Holdstation AA On-chain Action

We want the user experience on Holdstation to be cost-free, and we're backing it up with action. We had spent over 2 ETH ~ 3,500 USD, to take care of the user's gas. On top of that, we've allocated over 1.5 ETH ~ 2,200 USD, to ensure you can pay gas fees with stablecoins without any worries.

Holdstation Cumulative Gas Fee Covered by Paymaster

On top of that, this data reflects pretty well on tech and user perspective on our product.

Holdstation Cumulative User by Day

The statistics tell the story of a significant shift, and the global user community has been sharing their valuable feedback. At Holdstation, we greatly appreciate these contributions as we strive to enhance our product better every day.

In What Ways Can We Keep Making The Experience Better?

Here's how we're gearing up to make your journey even more extraordinary:

  • Web Access Made Easy: Currently, web access can be a bit tricky, but worry not. We're cooking up solutions to make it a walk in the park. WalletConnect for secure connections and QR Code Security Authentication for added ease are in the works.
  • Simpler Deposits and Withdrawals:  User suggestions for easier deposits and withdrawals, and we're committed to delivering a smoother and more user-friendly process via a slight upgrade on the user flow
  • Growing the Paymaster Suite: We're looking to expand our partnerships with projects within the zkSync ecosystem. By doing so, we aim to create an even more comprehensive Paymaster suite, providing you with a wider array of options and services.

As we continue to harness the power of native AA, you can expect some truly cool features to be unveiled soon. We're constantly innovating to bring you the latest and greatest. Stay tuned for these exciting improvements!