What is a SecureKey?
In GRVT, the SecureKey serves as the essential Web3 credential for users engaging in trading activities. This self-custodial credential is designed to enhance security and facilitate asset management on the platform.
SecureKey under the hood
The SecureKey consists of Ethereum public/private key pairs, ensuring that only the user has access to their private keys. This setup guarantees that any action altering asset ownership requires a signature from the SecureKey, thereby adding a crucial layer of security.
GRVT Native SecureKey vs. External Wallets
Users can opt to use an external wallet, such as MetaMask, as their SecureKey. This allows them to sign messages using the private key stored in the MetaMask extension. However, signing transactions on GRVT does not incur gas fees, except when bridging assets. Alternatively, GRVT offers a built-in SecureKey powered by Privy based on email. This option is particularly beneficial for users who prefer not to manage private keys directly. If you opt for this option, you will get an email from Privy to authenticate your SecureKey and GRVT does not have control over this.
Advantages of Privy-secured GRVT Native SecureKey
Enhanced User Experience: Privy enables users to sign trades on GRVT by authenticating based on an email OTP.
No Key Management Required: Users do not need to handle private keys directly.
Secure and self-custodial architecture: Privy upholds SOC2 compliance and strictly implements least-privilege principles with granular access controls across all data and infrastructure. Its self-custodial embedded wallets are designed so that only users can access their private keys, and each action requires explicit user consent.
Walkthrough Video
Check out this video to see how to create your GRVT SecureKey, protected by Privy.