We’ve recently entered into a partnership with Safient, a non-custodial secret recovery and inheritance protocol that is solving a critical problem related to self-custody in the crypto ecosystem– the lack of a seamless crypto-asset backup and inheritance mechanism. Through this partnership, Safient is leveraging Arcana’s Auth SDK, Storage SDK, and Access Control to store secret information, authenticate users, and enable the transfer of crypto assets.
According to a survey conducted by our partner, close to 50 percent of crypto holders admitted to not creating a backup of wallet and seed phrases. It was also found that only one in five individuals shared their crypto portfolio and wallet details with at least one other person in their lives. In case of an unforeseen event, such as losing seed phrases and keys, or death, recovering assets is impossible if the portfolio and wallet details (keys and seed phrases) aren’t available. The immediate family or whoever has to inherit the crypto assets will have no means to transfer or recover them. That’s when Safient (Safe + Convenient) protocol can help.
Safient enables seamless backup and recovery for crypto assets. All users have to do is create a safe to store seed phrases, keys, and other secret information, and appoint beneficiaries as well as the various claim conditions under which these assets can be transferred.
Arcana Network’s Authentication SDK and Arcana Access will help Safient onboard users through social signups and passwordless magic links for non-custodial wallets, on top of supporting other web3 wallets for authentication and onboarding. We’ll also help co-create custom, rule-based access control that best fit Safient’s claim conditions and other requirements.
As a part of our partnership commitment, we will also be providing Safient with resources in areas such as product, growth, community and marketing to help them go live on our mainnet towards the end of this year.
"Arcana, which provides the decentralized privacy stack, is an ideal partnership for us at Safient to make our non-custodial digital secret recovery and inheritance protocol much safer and convenient by leveraging their well-tested secure protocol," says Koshik Raj, Co-Founder & CTO - Safient.
“Onboarding Safient on Arcana will be an exciting step for us, as we can empower our partner’s users with easy, hassle-free onboarding and secure access control for seamless non-custodial secret recovery and inheritance,” says Aravindh Kumar, Co-Founder, Arcana Network.
The partnership between Arcana and Safient is a step in the direction of improving web3 adoption, since it will unlock several use cases and solutions around crypto asset recovery and inheritance.
About Safient Protocol
With its alpha test network on the polygon test network, Safient is a decentralized protocol that aims at helping its users securely manage all critical information in a non-custodial way and help recover or inherit the assets so that your loved ones have access to them with 100% surety at the right time, even in case of any tragic event. Since Safient is a generic protocol, it can be used to build solutions for the recovery of any digital assets, information, and secrets.
Currently, three solutions are being built by the team on the Safient protocol leveraging its recovery and inheritance mechanism. This includes
- Safient Wallet( https://wallet.safient.io/gm): A non-custodial recoverable and inheritable wallet application.
- Safient Voucher( https://voucher.safient.io/): This is the safest and most convenient decentralized way to gift crypto without intermediaries.
- Inheritable Safes ( https://safient.io/safes): A recovery and inheritance solution for crypto and other digital assets.
A plenty of other use cases are being explored using the Safient SDKs (https://docs.safient.io) on the Safient Alpha test network.
About Arcana Network
Built for Ethereum and EVM-based chains, Arcana is the web3 infrastructure to easily onboard dApp users and enable user data privacy and ownership. Web3 developers use Arcana’s SDKs for a seamless, familiar user onboarding experience via social authentication and passwordless login. All user data is encrypted, secured with data access fully controlled by the users, and powered by blockchain.
Arcana has raised 2.7Mn USD from some of the leading investors and founders in the ecosystem such as Balaji Srinivasan, Founders of Polygon, Woodstock, Republic Crypto, and Digital Currency Group.
Want to know more about our latest testnet features? Book a demo.