dnalob / daimo

Payments on Ethereum

Daimo is a stablecoin wallet

Single stablecoin, single rollup, payments only. Cross-chain transfers coming soon.

No seed phrases. Keys are generated in your phone's secure enclave and never leave. You can add multiple devices and create Passkey backups to secure your account. Under the hood, it's a ERC-4337 contract wallet.

The mission is to make an excellent experience. Payments should be fast, secure, and permissionless.

FAQ

• How do Daimo accounts work?

  Daimo accounts are Ethereum accounts.

  Under the hood, they're a new and much-improved type called an ERC-4337 contract account. Each device you add to your account stores a secret key. When you send money, your phone first authenticates you with FaceID or similar, then cryptographically signs the transaction using that key.

  Daimo is non-custodial. Your keys, your coins.

  Daimo offers stronger security than traditional wallets. Keys live in dedicated hardware made for storing secrets, such as Secure Enclave on iPhone, and never leave your device.

• Which stablecoin does Daimo use?

  Daimo runs on USDC, a high-quality stablecoin issued by Circle.

  Stablecoins are cryptocurrencies designed to maintain a stable value. Many are pegged to the dollar, so that one coin is worth $1. Circle is a US-based licensed money transmitter partnered with Coinbase. USDC is one of the largest and most liquid onchain dollar equivalents. Learn more on Bluechip.

• Which blockchain does it run on?

  Daimo uses Base, an Ethereum rollup.

  Rollups support near-instant transactions that cost a few cents each. By contrast, transactions on the underlying Ethereum chain (layer 1 or L1) take about 10 times as long and cost a few dollars each. Rollups accomplish this by bundling many transactions into a single L1 transaction. They inherit the strong guarantees of Ethereum: like L1, Base is reliable and secure, and works worldwide. Learn more on L2Beat.

• Can I send other coins like USDT, or use other chains like Polygon?

  Not yet. We plan to support payments in other stablecoins and on other chains soon.

• Who can see my Daimo transactions?

  Currently, all Ethereum transactions are generally public, including Daimo transactions. We plan to add private payments as the infrastructure and support for them matures.

• Is Daimo open source?

  Yes, Daimo is and will always be open-source under GPLv3. We're here to collaborate. We want to make self-custody fast, safe, and easy. See more on our Github.

Audits

• Veridise audit 2023 Oct: Daimo
• Veridise audit 2023 Oct: P-256 verifier
• Veridise audit 2023 Nov: WebAuthn verifier

Development

Daimo is under active development. Now in App Store and Play Store with an invite code. Coming soon: desktop app, no invite code, cross-chain support.

Architecture

READMEs for each app and package.

• apps/daimo-mobile mobile app. Typescript + Expo
• apps/daimo-web web app, including deep links. Typescript + NextJS
• packages/contract contracts, Solidity + Forge
• packages/daimo-api API, including indexer. Typescript + Node
• packages/daimo-common data models common to apps and API. Typescript
• packages/daimo-expo-enclave hardware enclave interface. Typescript, Kotlin, Swift + Expo native module
• packages/daimo-userop account abstraction interface. Typescript

Quick start for developers

Clone the repo, loading submodules.

git clone [e-mail]:daimo-eth/daimo --recurse-submodules

Install prerequisites.

# You'll need Node 20+
node --version

# (Optional) for contract development, install Foundry
curl -L https://foundry.paradigm.xyz | bash
# Reload your terminal, then run:
foundryup

# (Optional) for mobile development, install Expo EAS
npm i -g eas-cli

Next, build the app.

npm i
npm run build

Finally, run the app in the iOS simulator, Android simulator, or on your phone.

If you're in the Daimo team on Expo, you can download the latest development build from there.

Expo apps come in two layers: a native layer and a React Native (typescript) layer. Whenever you add a native module or update @daimo/expo-enclave, you must rebuild the native app. For details, see apps/daimo-mobile.

Once the base app is installed in your simulator, you can run Daimo.

cd apps/daimo-mobile # in one tab
npm run dev
cd packages/daimo-api # in another tab
npm run dev

Use invite code testnet.

API Setup

daimo-mobile and daimo-web both rely on daimo-api.

By default:

• daimo-mobile runs the Expo incremental build server on localhost:8080
• daimo-web runs the web app, including fallback deeplinks, on localhost:3001
• daimo-api runs the TRPC API on localhost:3000

You'll need to either use the hosted Daimo API or run one locally.

• To run the API locally, configure the DAIMO_API_* secrets, then run npm run dev.
• You can run Postgres in the background locally using initdb daimo && pg_ctl -D daimo start. To stop, use pg_ctl -D daimo stop.

Setup for android

• Ensure you have the correct Java version. Version 20 doesn't work, Java 17 works.
• You need to ANDROID_HOME to the local Android SDK.
• Install Android Studio, and create an emulator.
• Download latest Android internal distribution build from Expo, and install it in the emulator.
• Lastly, go to apps/daimo-mobile and run npm run dev:android.