Introducing the Biconomy Network Litepaper!
Following our recent Network announcement, it's time to share how things work under the hood! What is the Biconomy Network? What is asynchronous orchestration? Supertransactions?
Learn about all of this in the Litepaper 👇 🧵
What if Ethereum accounts became up to 80% cheaper and more efficient overnight?
Biconomy’s PREP method makes it possible, cutting costs, enabling cross-chain functionality, and proving no hidden keys exist.
A major breakthrough?
Absolutely. This advancement is backed by Biconomy’s latest research. An old EVM cryptographic trick, Nick's Method, served as the inspiration for building PREP accounts.
Meanwhile, EIP-7702 brings smart contract capabilities to EOAs. It allows gas payments in any token, batch transactions, and custom execution rules, all while maintaining the same address.
Biconomy’s PREP integrates these innovations in Nexus 2.0.
However, EIP-7702 has a critical vulnerability: the EOA key can override security features like multisigs and account locks. Biconomy’s PREP method addresses this risk. By combining Nicks’ Method with EIP-7702, PREP ensures secure smart accounts through randomized signatures, recovered addresses, and EIP-based authentication.
How does PREP achieve this?
1️⃣ EIP-7702 message: chain ID 0, smart contract code, nonce 0, prefix 0x05.
2️⃣ No key: Uses carefully constructed r, s, v values with intentional design.
3️⃣ r secures the initialization hash.
4️⃣ s signals ‘no key present.’
5️⃣ Address is derived mathematically and verified on-chain.
6️⃣ The EVM validates via its signature scheme.
7️⃣ Up to 80% cheaper, cross-chain compatible, and multi-sig ready without compromising security.
8️⃣ Nexus 2.0 will introduce this in March 2025 (Pectra upgrade).
The PREP Advantage:
🔹 No frontrunning risk: r locks the initialization hash.
🔹 Security-first design: s proves key absence, making it infeasible to brute force.
🔹 Gas-efficient execution: A significant cost reduction for Ethereum users.
Big kudos to the Biconomy's fantastic team for coming up with PREP, @ox_shaman, @itxenjoyer, @filmakarov, late contributors such as @optimizoor, @ThogardPvP
Acknowledgment goes to the early contributors of EIP-7702, @VitalikButerin, @samwilsn, @ansgar, and @0xmattg.
PREP is a step forward in account abstraction, combining the simplicity of EOAs with the power of smart accounts, all while driving down gas costs.
Nexus 2.0 will bring PREP alongside ERC-4337 and MEE support, ensuring universal compatibility with r/s/v derivation. Seamless portability, security, and efficiency are the future.
📖 Read our full research here:
👉 https://t.co/OygK81t50X
📢 TokenFi ($TOKEN) Just Got Listed on Binance Alpha!
TokenFi just got listed on Binance Alpha, a platform within Binance Wallet that is used as a pre-listing token selection pool by the Binance exchange!
Binance Alpha showcases early-stage crypto projects with potential to grow in the Web3 space, and the $TOKEN listing on the platform is a big feat and an important acknowledgement of our potential in this space.
Stay tuned for more exciting updates!
Some AI ideas are too spicy to tweet. That's why we're meeting in person.
While you're at @EthereumDenver, join us with @ZeePrimeCap for the hottest side event: an afternoon of unfiltered AI discussions where top #BUIDLers expose their most controversial takes.
Brave minds taking the stage:
👉 @ox_shaman - Biconomy's lead innovator challenging blockchain UX norms
👉 @j_schwartzz - @glifio founder, who deployed $100M+ in DePIN infrastructure
👉 @prashant_xyz - Pioneering AI-driven compute with @spheron
👉 @WtsSeanBuilding - Building autonomous agents at @Infomon_ai
Join us for "The Most Controversial AIdea I Hold (And I'm Willing To Share)"
🎟️ RSVP: https://t.co/WEsP5QY9OS
Secure your spot early, registration IS required and the space IS strictly limited.
📅 Friday, Feb 28, 1:30 PM MST
📍 Thompson Denver by Hyatt
@DMTLAND_ The best American-themed coin on ETH.
Months of constant development.
Tweeted by Elon.
Top content in the space.
You have the opportunity not to fade $ABE
🤖 Biconomy MEE changes the game for AI Agents by giving them multichain execution powers!
Take a look at this demonstrator agent we built!
The Looper Agent Demo fetches the gas and bridging costs for multiple chains, yields on AAVE across those chains and decides where to put user funds for optimal yield generation.
Because it's using Biconomy MEE - it can effortlessly encode an action which:
✅ Pays for gas with USDC on any chain
✅ Moves user funds from all chains to the chain where the user needs them
✅ Supplies to a yield bearing protocol
As the name implies, the agent runs on a loop and decides - every 60 seconds - whether or not it should rebalance the user position.
⚒️ Agent builders, we're waiting for you - get started at https://t.co/YhDuyOnviv
🤖 Agent builders! Make your life simple by using the Biconomy stack!
Here are the three core reasons why you should choose AbstractJS and Biconomy for your AI Agent project 👇
1. Security
By leveraging our Session Keys module, you can set guardrails on your agent. For example - allow an agent to only call specific DEX pools, with specific parameters. Since this protection is on the smart contract level, even if the agent has a bug or hallucinates, it can never do anything the user hasn't explicitly permitted.
Example
Only allow trading between ETH and USDC on Uniswap V3 Pool on Base.
2. Multichain Execution
The Biconomy Modular Execution Environment is the easiest way for an agent to execute transactions on multiple chains. By leveraging the automatic multichain transaction orchestration capabilities of MEE, the agent only needs to specify which actions it wants to achieve, MEE handles the rest. It will also pay only one transaction fee for all of the execution on all chains.
Example
Optimize yield across multiple chains and multiple lending protocols. Unwind a position on AAVE on Polygon, use Across to bridge to Base and then supply to Morpho on Base. All automatically orchestrated by MEE - the agent just states the intent.
3. Gasless Execution
Enable your users to pay for execution fees of their agent with ERC20 tokens like USDC or USDT or fully sponsor the execution of agent transactions. By making the execution gasless, you're making onboarding simple and conversion rates high!