Clave: The Ultimate Web3 Wallet?

What is Clave?

Clave is a non-custodial smart wallet designed to be user-friendly while offering robust security. Powered by Account Abstraction and fortified with hardware-grade security elements like Secure Enclave and Android TrustZone, Clave aims to simplify on-chain experiences for the next billion users. By providing a secure, intuitive bridge for users to integrate their digital assets into daily life, Clave delivers a comprehensive fintech solution, ensuring a seamless financial experience for everyone.

What sets Clave apart from other wallets?

Unlike traditional non-custodial wallets that use Externally Owned Accounts (EOAs), Clave leverages Account Abstraction. This enables users to benefit from programmable wallet features and user-friendly recovery methods without the need for seed phrases. Moreover, transactions like sending, swapping, and earning on Clave are entirely free of charge.

What is a seed phrase?

Seed phrases are typically a series of words that act as a backup to recover a crypto wallet. Clave, however, eliminates the need for these, offering a more streamlined and secure approach to wallet recovery.

Meet the Team Behind Clave

Baki is the Co-Founder of Clave and also the Founder and Researcher at DeFi Library. His background includes working as an ADAS Engineer at TOGG | Türkiye’nin Otomobili Girişim Grubu and holding various roles at Aselsan, including Senior Technical Product Manager and Electronic Test Design Engineer.

The Clave team comprises seasoned Web3 enthusiasts from across Europe, who together clinched the ETHGlobal Scaling Ethereum Hackathon 2023, securing grants from ENS DAO and ERC4337.

Clave is backed by $1.6 million in funding from world-class teams and VCs, including Matter Labs, Safe, Lambda Class, Mirana, and several angel investors like Sandy Peng, Anurag Arjun, Kofi, Doruk İmen, Raj Parekh, Kristof Gazso, Aayush Gupta, and Turan Sert.

Clave’s Mission

Clave’s mission is to bridge the gap between traditional finance and the seemingly distant world of crypto by prioritising user experience and security. The goal is to make crypto accessible to everyone, allowing users from all walks of life to securely own their assets through hardware-level security.

How to Create a Clave Account

Download Clave: Find it on the App Store or Play Store.
Open the App: Click “Create New Account.”
Sign in via Face ID: And you’re done!

Yes, it’s that simple—no seed phrases needed. You might be wondering how to recover your account. Don’t worry; we’ll cover that soon.

Currently, Clave only supports the ZKsync Era network.

Adding Guardians for Social Backup

Clave uses a social recovery system that allows you to appoint trusted family members, friends, or even another wallet as guardians of your account. This ensures that even if you lose access to your account, you can recover it safely with the help of your guardians.

To add a guardian:

Open the Clave app and navigate to your profile.
Select “Social Backup.”
Add your guardian by entering their username (if they use Clave), ENS, or 0x address. Guardians can help you recover your account if you lose access. Make sure to always have at least one guardian assigned.

You can also provide your email address to receive notifications about account security and important updates.

Creating an account on Clave is incredibly easy—so much so that even David from Bankless took less than two minutes to set up his Clave account and add a guardian. Clave has also partnered with ENS, so your username on Clave is already on-chain, formatted as [username].clv.eth, and all of this is 100% free!

Funding Your Clave Wallet

Haven’t funded your Clave wallet yet? No worries! You can deposit funds from another Web3 wallet or a centralised exchange (CEX). We recommend using the ZKsync network for your deposit as it incurs no additional fees and is completely free.

Here’s a guide to funding your Clave wallet from CEXs and other wallets:

From a Web3 Wallet on the ZKsync Network:

Open the Clave app and click “Get Started” or “Deposit” from the Hub menu.
Select the wallet you wish to use to send tokens, such as Metamask, Phantom, Zerion, Rabby, or Rainbow.
Choose the token: ETH, USDC, or USDC.e.
Select the ZKsync network: Currently available networks include ZKsync, Arbitrum, Base, Ethereum, and Optimism.
Copy your Clave username or wallet address and send the funds from the selected wallet.

From a Web3 Wallet on Networks Other Than ZKsync:

Follow the same steps as above but select a network like Arbitrum, Base, or Optimism instead of ZKsync.
Note: There is an additional $2 fee and a 2-minute wait time for transactions via Arbitrum, Base, and Optimism, and a $3 fee with a 6-minute wait time for Ethereum.

From a CEX:

Follow the steps above, selecting your preferred CEX, such as Binance, Coinbase, Paribu, BtcTurk, Bybit, or Kraken.
Choose your token and network as per the options available.

Note that there may be additional fees and wait times when funding from a CEX.

Sending Tokens on Clave

Clave offers four ways to send tokens: via username, QR code, request, or payment link. The best part? It’s all 100% free.

Via Username:

Open the Clave app and click “Send.”
Search for the recipient’s Clave username, ENS, or wallet address.
Enter the amount of tokens you wish to send.
Review the transaction details and swipe to confirm.

Via QR Code:

Open the Clave app and click “Send.”
For the sender: Select the QR scan in the upper right corner.
For the recipient: Display the QR code.

Via Request:

Open the Clave app and click “Request.”
Enter the amount and token you wish to request.
Click “Request” to generate a payment request.
Share the QR code or wallet address, or create a payment link to share via messaging platforms.

Via Payment Link:

Open the Clave app and click “Send.”
Select “Send with Link.”
Enter the amount of tokens to be sent.
Confirm the details, swipe, and complete biometric authentication to proceed.

The payment link is ready to be shared via messaging platforms like WhatsApp, Telegram, or Twitter.

Swapping Tokens on Clave

Swapping tokens on Clave is straightforward, and the best part is, you retain full control over your funds without paying gas fees.

Open the Clave app and click “Swap.”
Select the token you wish to swap from the “From” field and input the amount.
Select the token you wish to swap to in the “To” field.
Click “Review Swap” and proceed to the next step.
Verify the swap details.
Confirm the swap with biometric authentication.

It’s easier, faster, and cheaper because Clave doesn’t charge gas fees for swaps.

Earning Passive Income with Clave’s Earn Feature

Clave has integrated DEX Pools and staking pools from various DeFi projects on ZKsync, allowing users to earn passive income by staking their assets. Thanks to Account Abstraction, users no longer need to perform multiple transactions when using DeFi apps. This means earning on Clave only requires a single click!

Steps to earn passive income with Clave:

Select “Earn” from Quick Actions or enter the Hub and choose “Earn.”
Select the asset you wish to stake and proceed.
Determine how much you want to deposit into the Earn Pool and continue.
Complete biometric authentication after reviewing the transaction.

You can then either collect your earnings or withdraw your staked assets:

Go to the “Earn” section.
Choose the asset from the “Positions” list.
Select “Withdraw” to remove your staked assets.
Or choose “Collect” to take your profit.

Recovering Your Clave Account

Clave offers various recovery mechanisms to ensure your wallet is always within reach.

Passkey: The primary mechanism is the Passkey, allowing you to easily recover your account through iCloud or your Google Account.

Social Backup: If you lose your phone or cannot access your iCloud or Google Account, your guardians can recover your account. The social backup process takes 48 hours to complete.

Social Backup with Clave Wallet:

If your guardian uses the Clave wallet, follow these steps:

Click “Recover your account” when you open Clave.
Enter your Clave username and guardian’s name.
After completing this process, Clave will notify your guardian, or you can share a recovery link with them.
Once your guardian accepts and approves, your account will be ready for recovery within 48 hours.
You have 48 hours to cancel the recovery if it wasn’t initiated by you.

Social Backup with Another Wallet:

If your guardian doesn’t use the Clave wallet:

Click “Recover your account” when you open Clave.
Enter your Clave username and your guardian’s address.
Clave will generate a link for your guardian.
Open the link and connect your guardian’s wallet.

You also have 48 hours to cancel the recovery if it wasn’t initiated by you.

Conclusion

Clave makes crypto adoption effortless—just one click with a Passkey, and you’ve got a new blockchain account. Clave also provides the best user experience thanks to Account Abstraction, where sending, swapping, and other features require just one or a few clicks, all without paying gas fees. Biometric authentication further enhances wallet security, protecting your transactions.

What’s Next?
Clave has some exciting features in the pipeline, along with opportunities for active earnings for its users. What could they be? Join the Clave community to stay updated with upcoming announcements and developments!

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Written by: Royani Rahman