Technical Documentation
ether.fi is launching ether.fi Cash, an advanced DeFi payment solution designed for crypto users, developers, and institutional investors seeking a secure, non-custodial financial experience.
1. Secure and Non-Custodial Safe
Upon creating an account at ether.fi Cash, a dedicated smart contract, ether.fi Safe, is automatically deployed for you. This Safe ensures secure and non-custodial control, meaning you remain the exclusive owner of your funds, maintaining complete autonomy.
Diagram 1: Safe Ownership/Authentication Architecture
Security as a First-Class Citizen
Your Safe is secured by sophisticated cryptographic management through a secure enclave architecture (i.e., Trusted Execution Environment) provided by Turnkey. This secure enclave generates and manages your keys, significantly enhancing security compared to traditional wallets reliant on seed phrases. The keys remain encrypted and inaccessible outside this secure environment, accessible only via explicit, user-authorized cryptographic authentication.
The enclave-based security design ensures robust protection against both external threats and internal risks, providing a tamper-proof environment where even ether.fi or Turnkey cannot access your private keys, thereby reinforcing the non-custodial nature of your wallet.
Non-Custodial by Design
ether.fi Safe is designed to be entirely user-owned and controlled. Your encrypted keys are strictly managed within the Secure Enclave, accessible exclusively through user-authorized cryptographic authentication. It guarantees that neither ether.fi nor any third-party can ever access or control your Safe or your keys.
Seamless DeFi Banking Experience
ether.fi seamlessly integrates its advanced DeFi primitives, such as Staking and Liquid products, to deliver a premium, frictionless DeFi banking experience. This integration ensures you have effortless access to the top-class decentralized finance products directly within your Safe.
Moreover, ether.fi enables secure direct card spending linked to your Safe, allowing users flexibility between Direct Spend Mode (immediate fund deductions) and Borrow Mode (automatic short-term borrowing). The daily and monthly spending limits are user-configurable, providing an additional layer of security to protect against unauthorized or excessive transactions.
2. Effortless Cross-chain via Universal Address
ether.fi provides a effortless cross-chain deposit service with universal addressing exploting deterministic address deployment.
Diagram 2: Cross-Chain Operation via Universal Address
Universal Safe Address
Through advanced deterministic deployment (using Create3), each user is assigned a universally consistent address across all EVM-compatible blockchains. The address is used for the dedicated Safe contract on Scroll and for the deposit address on other chains.
The unique address assigned to each user can be extended for chain-agnostic smart wallet system in future! Stay tuned!
Near-Instant, Automated, and Transparent Bridging
Funds sent to your unique address on any supported blockchain are swiftly and transparently bridged to your dedicated Safe on Scroll. This process leverages automated & secured smart contract interactions ensuring a superior user experience without cumbersome manual steps.
Handling Unsupported Assets
Assets not directly supported within the ether.fi ecosystem can be securely routed to your individual secure enclave-managed EoA address. Users still retain complete control, free to move these assets to their desired destinations.
3. Modular Design for Security
ether.fi’s Safe contract adopts modular design, delivering both security and flexibility for DeFi banking experiences. This modular architecture enables managed, secure operations through distinct, independently managed modules.
Modular Contract Framework
At its core, the Safe contract serves strictly as a robust multisig authorization and module management hub. Direct interactions with the Safe are securely restricted, ensuring all functionalities are executed exclusively via thoroughly vetted modules.
Module Governance
Modules are individually whitelisted and vetted by ether.fi, designed as non-upgradeable to ensure predictable and stable operations. Each module—such as token management, lending integrations (e.g., Aave), or borrowing—is optimized to perform clearly defined roles, ensuring clean separation of concerns and operational security. The Safe owner needs to approve individual modules to allow the interactions.
Advanced Hook System for Security
Operational hooks reinforce system health, providing additional security layers. These hooks rigorously validate critical metrics, including debt positions, ensuring robust, continuous integrity monitoring and risk mitigation.
Role-Based Access Control
Clear role separation between Owners and Admins provide precise control and secure management. Highly sensitive actions, including administrative changes or fund withdrawals, are tightly restricted to Owner-level authorization, adding a vital layer of governance and security.
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