Today, we are thrilled to announce the public TestFlight of Fuse, Solana’s first smart wallet. Fuse has been a long time in the making, and I wanted to share some context on why exploring Fuse is worth your time and how it came to be.
Why Fuse Exists
There were two primary motivations behind Fuse. First, we wanted to bring Squads Protocol smart accounts to mobile. The Squads App is predominantly an enterprise platform, with most users interacting via desktop.
Second, as Squads adoption grew over the past three years, we observed that many security-conscious individuals were creating Squads smart accounts to store their personal assets. A typical setup involved a ⅔ account with two Ledgers and one hot wallet, becoming the norm for many individual users.
The idea for Fuse emerged from our desire to create a mobile smart account experience that simplifies life for individual users of Squads. As a Squads user, a good way to think about Fuse is that it’s essentially an abstraction on top of the Squads, tailored for individuals. A lot of the magic in Fuse is achieved by transaction batching, which is possible because Fuse is single player as opposed to Squads. As a result, changing a Recovery Key in Fuse feels like a single action with just a couple clicks, while doing the same action in Squads would be a multi-stage process with initiation, approval and execution happening separately (I shared more about this in a tweet earlier - ).
Smart Wallets
Fuse is a smart wallet because it uses a @SquadsProtocol smart account to store assets, rather than relying on a traditional key pair. While key pairs are still everywhere in Fuse, they are used for signing things, not storing assets. Access to a single private key does not grant access to the assets in the Fuse 2/3 smart account, thanks to account abstraction.
There is a lot of discussion about smart wallets, and they can mean different things. However, the commonality is that in a smart wallet, the key pair is not the wallet itself; the wallet is a programmable account on the blockchain. The ability to set different conditions for who and how to access the assets in the wallet by adjusting the program's parameters is what makes the wallet smart. This is in contrast to traditional wallets, which only require one condition to access the assets - control of the private key.
The primary reason we believe Fuse is transformative is that it simplifies the creation of a personal smart account on Solana to a few clicks, paving the way for programmable self-custody. At Squads Labs, our mission is to grow the onchain economy. We envision a future where your wallet is your main bank account, equipped with MFA, key-changing capabilities, and configurable access parameters. This is the baseline that’s required from a security and UX standpoint to allow individuals to seriously consider storing majority of their wealth onchain and without single points of failure.
Fuse is designed to solve the problem of securing your long-term assets, not to reinvent how you interact with Solana apps.
Programmability
Another reason we are excited about the programmable nature of smart wallets is that it allows for the creation of new wallet experiences. With smart wallets, the only limit to logic and features you can encode in the wallet is what is possible to program on the blockchain.
A spending limit is a good example of how it works. If you have a ⅔ Fuse wallet setup with Ledger as the 2FA key, a spending limit allows you to set parameters when you can move the assets out of Fuse without needing that Ledger. As we progress, we can introduce more elaborate programmable features and automations, which take advantage of other apps in the ecosystem. For instance, you could set a parameter where 25% of all USDC sent to your Fuse wallet is automatically set to DCA into SOL via @JupiterExchange.
Series A
Another big piece of news we shared earlier today is the completion of our series A round led by Electric Capital (). It’s an important milestone for the company which will allow us to deliver on the promise of Fuse, continue making Squads App better and ensure that Squads Protocol continues to be the most reliable and secure smart account standard for Solana.
The round also means we will continue pursuing our mission - to grow the onchain economy (). We believe that a lot of productive economic activity in the world will be happening on blockchain rails and are building products and infrastructure to accelerate that future. If that resonates with you and you would like to be part of our journey - DMs are open.
Try Fuse
I encourage everyone reading this to try Fuse for yourself () and let me know what you think in DMs or on Telegram (). Don’t think of Fuse as your new daily driver wallet for app interactions, think of it as a secure vault for storing the larger portion of your Solana net worth. Tell me if you are ready to embrace Fuse as your onchain bank account. If not, why not? What are the blockers? Maybe you have questions about security or we are missing some core features that you need to make the transition.
Help us make Fuse better and participate in growing the onchain economy.
sqds.io/about
t.me/+QKzWuyCra345M…
Why Fuse Exists
There were two primary motivations behind Fuse. First, we wanted to bring Squads Protocol smart accounts to mobile. The Squads App is predominantly an enterprise platform, with most users interacting via desktop.
Second, as Squads adoption grew over the past three years, we observed that many security-conscious individuals were creating Squads smart accounts to store their personal assets. A typical setup involved a ⅔ account with two Ledgers and one hot wallet, becoming the norm for many individual users.
The idea for Fuse emerged from our desire to create a mobile smart account experience that simplifies life for individual users of Squads. As a Squads user, a good way to think about Fuse is that it’s essentially an abstraction on top of the Squads, tailored for individuals. A lot of the magic in Fuse is achieved by transaction batching, which is possible because Fuse is single player as opposed to Squads. As a result, changing a Recovery Key in Fuse feels like a single action with just a couple clicks, while doing the same action in Squads would be a multi-stage process with initiation, approval and execution happening separately (I shared more about this in a tweet earlier - ).
Smart Wallets
Fuse is a smart wallet because it uses a @SquadsProtocol smart account to store assets, rather than relying on a traditional key pair. While key pairs are still everywhere in Fuse, they are used for signing things, not storing assets. Access to a single private key does not grant access to the assets in the Fuse 2/3 smart account, thanks to account abstraction.
There is a lot of discussion about smart wallets, and they can mean different things. However, the commonality is that in a smart wallet, the key pair is not the wallet itself; the wallet is a programmable account on the blockchain. The ability to set different conditions for who and how to access the assets in the wallet by adjusting the program's parameters is what makes the wallet smart. This is in contrast to traditional wallets, which only require one condition to access the assets - control of the private key.
The primary reason we believe Fuse is transformative is that it simplifies the creation of a personal smart account on Solana to a few clicks, paving the way for programmable self-custody. At Squads Labs, our mission is to grow the onchain economy. We envision a future where your wallet is your main bank account, equipped with MFA, key-changing capabilities, and configurable access parameters. This is the baseline that’s required from a security and UX standpoint to allow individuals to seriously consider storing majority of their wealth onchain and without single points of failure.
Fuse is designed to solve the problem of securing your long-term assets, not to reinvent how you interact with Solana apps.
Programmability
Another reason we are excited about the programmable nature of smart wallets is that it allows for the creation of new wallet experiences. With smart wallets, the only limit to logic and features you can encode in the wallet is what is possible to program on the blockchain.
A spending limit is a good example of how it works. If you have a ⅔ Fuse wallet setup with Ledger as the 2FA key, a spending limit allows you to set parameters when you can move the assets out of Fuse without needing that Ledger. As we progress, we can introduce more elaborate programmable features and automations, which take advantage of other apps in the ecosystem. For instance, you could set a parameter where 25% of all USDC sent to your Fuse wallet is automatically set to DCA into SOL via @JupiterExchange.
Series A
Another big piece of news we shared earlier today is the completion of our series A round led by Electric Capital (). It’s an important milestone for the company which will allow us to deliver on the promise of Fuse, continue making Squads App better and ensure that Squads Protocol continues to be the most reliable and secure smart account standard for Solana.
The round also means we will continue pursuing our mission - to grow the onchain economy (). We believe that a lot of productive economic activity in the world will be happening on blockchain rails and are building products and infrastructure to accelerate that future. If that resonates with you and you would like to be part of our journey - DMs are open.
Try Fuse
I encourage everyone reading this to try Fuse for yourself () and let me know what you think in DMs or on Telegram (). Don’t think of Fuse as your new daily driver wallet for app interactions, think of it as a secure vault for storing the larger portion of your Solana net worth. Tell me if you are ready to embrace Fuse as your onchain bank account. If not, why not? What are the blockers? Maybe you have questions about security or we are missing some core features that you need to make the transition.
Help us make Fuse better and participate in growing the onchain economy.
https://x.com/simkinstepan/status/1753427106107891870?s=46&t=iFaUunsHdca8O_CN3NINJw
https://x.com/SquadsLabs/status/1800180765873086904
sqds.io/about
https://x.com/fusewallet/status/1800168186337497453?s=46&t=iFaUunsHdca8O_CN3NINJw
t.me/+QKzWuyCra345M…
• • •
Missing some Tweet in this thread? You can try to
force a refresh
