Summary
Today, an implicit/temporary address is used to fund the creation of a new NEAR account. On one hand, this is necessary to pay the gas and the storage fees. On the other, this can be cumbersome if the funding transaction is slow to happen, or the user closes the funding window before completing the process.
As a result, many users abandon the wallet creation flow or fund their temporary address more than once, producing confusion in the management of their available funds.
Intended Outcome
As a new wallet user, I want to create a new account without the need to advance NEAR Tokens to temporary addresses.
Overall, this feature will reduce the onboarding friction, and will be measured with the retention % of the onboarding process.
How will it work
A smart-contract will temporarily lend the funds that are necessary to pay gas and storage fees, letting the user go to an exchange or source the funds only after their account was created, the recovery methods were configured, and their wallet is 100% ready to receive funds.
In practical terms, the owner will see a negative balance (or similar UX) until they reimbursed the onboarding amount. If they fail to do so, after a given amount of time (from hours to days) the account will be deleted, and the funds will be sent back to the onboarding smart-contract.
Summary Today, an implicit/temporary address is used to fund the creation of a new NEAR account. On one hand, this is necessary to pay the gas and the storage fees. On the other, this can be cumbersome if the funding transaction is slow to happen, or the user closes the funding window before completing the process. As a result, many users abandon the wallet creation flow or fund their temporary address more than once, producing confusion in the management of their available funds.
Intended Outcome As a new wallet user, I want to create a new account without the need to advance NEAR Tokens to temporary addresses.
Overall, this feature will reduce the onboarding friction, and will be measured with the retention % of the onboarding process.
How will it work A smart-contract will temporarily lend the funds that are necessary to pay gas and storage fees, letting the user go to an exchange or source the funds only after their account was created, the recovery methods were configured, and their wallet is 100% ready to receive funds. In practical terms, the owner will see a negative balance (or similar UX) until they reimbursed the onboarding amount. If they fail to do so, after a given amount of time (from hours to days) the account will be deleted, and the funds will be sent back to the onboarding smart-contract.