Circle Workshop - ETHGlobal San Francisco 2024

[Music] so uh my name is Cory Cooper I'm the developer relations manager at Circle I've been with circle for about 2 and a half years started out as a senior solution engineer and then went over to the dev rail team because I'm excited to connect with people like you in this room so first foremost I appreciate you all taking the time to even come and listen to this talk uh the focus of this talk is is going to be on the developer tooling that Circle has been building to make it easier for developers to uh accelerate the movement of money uh you know through our stable coin infrastructure on chain and um one of the most valuable assets that Circle has uh created and and is the sole issuer of is usdc which most of you all may be aware of uh if you're not um usdc was first introduced on uh the ethereum blockchain in 2018 and so the vision was that uh money movement could be frictionless and um you could have faster settlement times uh by leveraging public blockchains to move dollars across the internet but there's a key component that you know we introduced to make sure that uh businesses and developers could trust our infrastructure to be something that they could use to build business businesses off of and that is being regulated so we want to make sure that you all understand that we we put regulation first and we are a regulated a US regulated stable coin and we are actively um getting licenses in other jurisdictions to make it easier for developers to build these experiences all around the world um obviously we use the blockchain for efficiency of settlement and transfer of value and so uh it gives us the ability to be able to do near instant settlement lower the cost of settlement but also um make these transactions a little bit more programmable than traditional Financial rails can offer and so today I'll give you an overview of all the developer tooling that we offer uh starting with um our programmable wallet solution and so programmable wallets is basically a wallets is a service infrastructure that developers can use to be a ble to build uh experiences where they can either offer custodial experiences for the end user or non-custodial experiences and so if you need to you know manage uh very robust wallet operations you have the ability to use our apis and sdks to deploy wallets and store assets like usdc our EC stable coin as well as other digital Assets in uh in wallets that you can deploy and manage for in use users we also have a smart contract platform in our cross chain transfer protocol as well as at the bottom of this slide our stable coin infrastructure which is usdc and URC currently right now so with our web through Services business um it's built you know on programmable wallets and so U you know the the idea is that developers want to integrate wallets within applications that they already have these applications could be peer-to-peer payment apps where you want to create some sort of interoperability between stable coin payment rails and traditional rails and give the end user the ability to uh do peer-to-peer transfers with stable coins and so uh we offer like flexible ownership models around the wallets and so we have our user control wallets which basically uh gives more sovereignty to the end user they have a pin code that gives them access to B basically a u golden key we call that is the key that kind of connects all the key shards and our MPC wallets together to be able to withdraw assets from that wallet so if you're building an experience where um you know that your end user wants to make sure they have complete control over those funds or user control wallets is a good option because in order to withdraw assets from that wallet the end user who only has the PIN code that's stored on their device is the only person who can actually initiate withdrawals from that wallet and then we have our developer control wallets and these are wallets that the developer who owns has access to the API keys can basically uh initiate transfers and so uh more for like a a truly web to embeddable experience where you may want to abstract away a lot of the blockchain N clature from your enduser and uh and and just create more of like a a cash experience but you want the stable coin to be The Ledger system so Dev control Wallace is like more of a use case for that that model U we also uh again offer familiar development tools um so everybody's familiar with rest apis but we also have sdks which has become the standard in the space uh to make it easier to interact with our web through services and perform these operations with our wallets and so we currently have uh server out sdks and then we have mobile SDK so the server side SDK basically is a typescript s SDK that a developer can use to uh build backend operations that interact with our apis to to do things with our wallets and then our mobile SDK is basically a front-end uh authentication component that you can add to your user control wallets for U you know IOS and Android and also web to create that experience where the user can one create their PIN code and two uh once they create their pin code they can add the security questions to it as well as when they initiate a withdrawal there is a model that pops up where they enter in their P code and that that UI basically is a UI SDK that we offer we are multi-chain uh Dev tool platform um right now our um web 3 Services is not up to Purity uh as from a chain support status as usdc is but we are getting there um so but we we we off actually believe in a multi-chain future and so we want to support as many blockchains as possible uh for developers and then you know we also proud ourselves on security and like I said before we're we're using MPC uh security for these wallets so we have various NPC nodes that split out the shards of the private key to protect basically the U assets and the wallets that you deploy with our our tooling and then one thing that we um make sure that we we offer is uh gas abstraction uh functionality we make it super easy for developers to create basically gasless onboarding experiences for their end users with our gas station uh component to our programmable wallet solution and so um you know developers can spin up these these pay masters really quickly um that actually are Tethered to the wallets that they deploy and um they can sponsor those transactions from just having a debit card on file in our console so they don't have to go Source you know eth or native tokens to basically um you know deploy into that that that smart contract that pay master that is all OB raed away and you know you can spin up basically a smart contract account with our API and by default you know it has pay masters that can sponsor the gas fees for those wallets oops okay uh he he did warn me but I didn't know it would go out here too I thought it would just be there here okay let's see okay all right thank you thanks okay and so so the last thing is you know the simplify management so what this is is we we have dashboards within our console that track the API logs track the web hook notification logs as well as all Wallet transaction activity uh within your wallet operation so it makes it really easy for you to uh really manage you know wallets at scale and troubleshoot things really quickly if you are scaling your business or your project or you have you know multiple team members who need to kind of check on what's going on with the activity of transactions so this is a diagram of of basically you know the the wallet models but also the infrastructure that powers it so you have your def control on the left side user control on the right and then we we have these server side sdks the user controls obviously comes with the client side SDK that's the mobile SDK that gives you the actual UI SDK for handling the um pin code authentication security questions um and that that nature of stuff and then um you know at the bottom layer We have basically the things that we we offer from you know infrastructure perspective to make it easy for you to manage wallet operations our policy engine our console and uh our gas station and so the the policy engine is is something that basically you know we we just launched it's called really compliance engine and so it allows for you to one do transaction screening on wallets so uh this is very beneficial if you're trying to to build a product that is in compliant with certain regulation and so you can actually um you know use this compliance engine to screen transactions um to protect yourself against sanction wallets and and also just just add more of a layer of um security around the wallets that you are managing for your end users that abide by um any regulatory um bodies that you have to adhere to based on the jurisdiction so it is very important um especially when you're building products with usdc and EC you want to make sure you understand the compliance part and that you can offer that as a technology component and so what we do is we make it super easy for you to offer that by actually embedding that in the product the next part of our our stack is our smart contract platform and so uh this makes it really easy for developers to basically interact with smart contracts that the wallets that they deployed with our platform they can easily call Smart contracts to add more utility to those assets and do very complex things um you know uh automating you know transactions uh tokenization of assets uh connecting to defi all of those things that you can do with the smart contract platform you can actually uh deploy your own smart contracts or you can import existing contracts with the platform and out of the box it becomes connected to the wallet infrastructure um component of our platform so really makes it easy for a developer to add smart contract logic to their web or mobile app and so I actually talked about some of the things but you know here are some of the bullet points of of what you get uh with the smart contract platform you know really one thing that's really cool for developers is when you import a a smart contract into our platform or deploy it it basically scans that solidity code parses It Out by all the ABI functions within the smart contract and gives you code Snippets uh in JavaScript and other languages of how to call those functions so it it's a really cool tool to make it easy for you to like connect these smart contracts to a web application because now you can connect it through a API and you can easily kind of test out and simulate some of the actual functions within the smart contract as well so um it's a a very very cool tool that makes it easy for you to embed smart contract logic into applications uh now we're talking about the cross chain transfer protocol um cctp is is a way for developers to call a smart contract set that we we've deployed on chain to natively move usdc from one blockchain to another um how we do that is through a methodology we call burn and mint so if you wanted to actually move liquidity from uh you know let's say you wanted to go from ethereum to base uh instead you could just go straight usdc from usdc from ethereum to usdc on base by calling our cctp smarty contract set and you would call you know a function on the source chain and pass the amount of usdc that you want to send the destination address and then the chain ID that is a source chain ID and then the destination chain ID and you can burn that usdc out of the ecosystem on the source chain uh you will be emitted a message from that smart contract you can take that message hash and then you can pass it to our attestation service which is a API point it's publicly accessible so this is permissionless you don't need to sign off for anything and then what it would do is it would give you basically uh keys to and signature to sign a minting uh function on the destination chain to Mint that usdc to the destination wallet so um currently uh these are the routes that we support these are bidirectional routes by the way so you can go uh 56 you know different routes uh we support eight different blockchains and it's a very popular product uh because you know we've been able to uh get a lot of data and insight back from a lot of companies that use it and you know they were finding out that it's more efficient way to move Capital across chain so it's Capital efficient way some of the use cases I've seen developers use is like cross chain onboarding so you may have a situation where a developer wants to create an on- ramping experience that any user gets to the platform they don't have a wallet on the particular chain that that dat works for and cctp is a way to you know lower that friction where you can create these cross chain on ramping experiences and there's a lot of other cool stuff that's being built with it today too and so um you know what what we want to see is um you know we want to see developers build some really cool stuff and just wanted to inspire you all some of the use cases that we've seen so far and these are these are not all of them but the more popular are dollar access so someone's creating an edable Financial product where maybe they're trying to offer dollar denominated accounts and they can do that with usdc um in programmable wallets crossb payments is is a big one talked to a few people some of them in the in the crowd about crossb payments uh that's a huge use case in the B2B space with uh usdc and then uh decentralized Finance you know people want to access some of these cool decentralized Financial products that offer things that you know traditional Financial products may not be able to offer and they can build these things with usdc uh these are like a lot of Novel Financial products are being created today which is very cool from the developer community so um here are some of the prize pools just to let you all know if you haven't seen them but um we we C encourage you all to kind of build in these different Lanes um you know for for the actual hackathon but um what I'll do is I'll switch it over to questions anybody have any questions yeah would you maybe not Dem the from Smart contract to do that could [Music] yeah I can do that just to repeat his question he wanted to see a demo of the uh creating a smart contract from this I I just took an existing smart contract I wanted to see the API that you guys uh I guess you generate host apis to make function calls is that how it works so we have an API that you can call to deploy or import the smart contract so were you trying to deploy a new smart contract no I I understood it as maybe I it wrong you put a smart contract but then if you want to have your app call it you API that correspond to the call yeah what I can do is I can pull up um right now let me pull up the console and show you if I have some imported can everybody see okay I think I may have some contracts in here I already imported yep so I have a few imported a usdc on seoa so here is the list of ABI functions right and then you can view the Snippets of code which show you the rest API in points and you can just copy this or run it and you can perform these uh different ABI functions on here so is this what you were looking for yep so yeah yeah you all you would need to do is like you can just copy this code into your IDE and just run it and and test it out yeah yeah are a chains that you support cctp on are those the ones that this works with or great question so we are you know still in the process of getting up to parity with our onchain infrastructure and uh the web 3 services so currently we we don't support eight chains with the web3 services tooling right now we support Avalanche ethereum um arbitrum polygon and yeah so those those are the the um the four that we support right in salana I'm sorry uh for web3 services so that that support is for programmable wallets and smart contract platform yeah yes I I didn't see the things I was curious was price how do somebody honor your platform allow someone to build something so that someone can connect and really easily onramp um a customer like mobile usdc us great question I'll repeated it he he wants to know if we offer any on- ramping functionality within our developer platform So currently right now we we're in beta with a tool called Circle access so that's a um tool that you can sign up for for the beta through our Dev dos U and that handles kind of like on wrapping opportunities for end users and then um you know we're we're actually working very hard to um create basically you know uh a bunch of uh integration points with different on and off ramp providers [Music]