Getting Started with Locksmith

We are excited to announce the launch of Locksmith on Base Mainnet! This marks our very first mainnet deployment, a significant milestone in our journey. Our mission is to enable a seamless self-custody experience and bring account abstraction to all wallet users entirely on-chain.

In this guide, we'll walk you through the basics of setting up and getting started with Locksmith. Follow along step-by-step on alpha.locksmithwallet.com. Let’s dive in.

1. Connecting to Locksmith

Unlike most smart contract wallets, Locksmith is designed to pair seamlessly with your existing wallet rather than replace it. Whether it's mobile, browser, or hardware, Locksmith integrates with your current set-up instead of forcing you to download yet another plugin. 

Locksmith currently supports two of the most popular wallets in the crypto space: MetaMask and Coinbase Wallet, with more wallets on the way. After signing into your favorite wallet, simply: 

1. Click the connect button 

2. Choose “Base” as your network 

3. Select your wallet. 

And you’re in!  With your wallet connected, you're all set to explore Locksmith and reimagine the way you manage your crypto.

2. Trust Creation

Locksmith introduces the concept of Trusts. A Trust is a self-custody command center, where you can create accounts to deposit and manage your crypto. At its core, Locksmith is a platform to easily generate and manage multiple smart contract wallets that all connect back to the external wallet you already use. Whether you need one account or a hundred, Locksmith has got you covered.

Every Trust in Locksmith comes with a Master Key. This Master Key is an NFT that gives the holder control over all accounts in the Trust. For now, this means creating accounts and adding other external wallets to your accounts. In the near future, holding the Master Key will also allow you to set unique permissions on how each external wallet can access the account – more on this soon™. 

Additionally, the Master Key has its own account, so you can deposit crypto directly on the Key. Access to that crypto and control of the Trust will travel with you if you ever move the Master Key NFT to another external wallet.

Let’s walk through the process of creating a Trust and depositing funds on the Master Key:

1. Click a key, name your Trust, and hit “Create Trust”

2. Select the Master Key you just minted

3. Click “Deposit” and select an asset

4. Confirm the amount and sign with your connected wallet

Our Base mainnet launch supports ETH and USDC deposits, with expanded ERC-20 support under development. To send crypto out of your Master Key, just click on the asset you want to send and follow the prompts.  Now your assets are sitting in a secure smart contract vault that only you, the Master Key holder, can access. Additionally, by creating accounts within your Trust, you can recreate your wallet setup all in one place. 

Locksmith lets you manage all your accounts from a single address, streamlining even the most degen wallet configuration. Switching wallets? Just send a copy of your Master Key, bypassing the hassle of seed phrases. And if you are concerned about losing seed phrases, that's where Locksmith recovery comes in.

3. Setting Recovery

While getting your crypto off your browser’s private key is a small win for personal security, the next major feature release within two weeks will be asset recovery. Locksmith will be the first wallet to provide a fully on-chain asset recovery mechanism that requires no third parties or external servers.

Setting up recovery in Locksmith is akin to using a 'deadman switch'—think of it as an alarm clock for your recovery process. You'll input a backup address (or several) and choose a check-in interval, with the default being every 90 days. Just like hitting 'snooze' on your morning alarm, you'll need to check in within that interval. Miss a check-in? Your designated recovery address(es) can step in to recover your Trust.

4. Get started today

Ready to experience the future of crypto wallets? Whether you're a seasoned crypto enthusiast or just starting out with self-custody, Locksmith offers an experience tailored to your needs. Launch the dApp, join our community Discord, follow us on Twitter, and upgrade your self-custody experience with Locksmith.