Introduction

Miki represents the next generation of Chain Abstraction interfaces, designed to streamline the growing complexity of blockchains and revolutionize user experiences. Through this platform, users can effortlessly initiate transactions on any chain, freeing them from the concern of which Dapps they are utilizing. This document elucidates Miki's vision and our commitment to the future.

The Growing Challenges of Blockchain Complexity

As blockchain technology expands, it ironically complicates the user experience. Users face three main challenges in this fragmented ecosystem:

1. Native Assets: To execute transactions on various chains, users must possess the native token of each chain. This necessity can become challenging, especially when direct transfers of these assets across chains are limited by the lack of comprehensive bridge support.

2. Balance fragmentation: Managing and transferring a variety of tokens across chains demands significant time and effort, involving complex processes like swaps and bridging.

3. Network Configuration: Using new chains requires cumbersome network configurations, similar to constantly switching internet protocols, adding needless complexity.

Despite its potential to drive innovation, the growing diversity of blockchains burdens users with a complex maze of tasks, complicating their interaction with the technology.

Streamlining the Dapps Experience: Miki’s Chain Abstraction Solution

Miki cuts through the complexity of blockchain, enabling effortless interaction with Dapps across any chain for all users. The process is straightforward:

Deposit and Execute: Just deposit your assets on your preferred chain, and you're ready to access and transact on any blockchain. Think of it like a bank deposit: just as you can shop worldwide with a debit card after a single deposit, Miki allows access to all chains with one initial deposit. Whether you're looking to engage in swapping, lending, or providing liquidity without having assets on that specific chain, it's no issue. Miki references your deposited assets to facilitate transactions, ensuring you can engage with any application, anytime, without the need for assets on multiple chains.

Asset Yield Generation: Just as deposits in a bank accrue interest until withdrawn, Miki utilizes the assets users deposit to generate yields. This not only enhances the user experience by offering financial benefits beyond mere transaction facilitation but also contrasts with traditional Centralized Exchanges (CEXs) and bridges. In traditional settings, assets must be held in a wallet without yield potential until exchanged. Miki revolutionizes this by allowing assets to work for the user, generating profit even when not actively engaged in transactions.

Unlocking the Full Potential of Transactions with Miki

Miki is capable of executing any transaction across the blockchain universe, but let's highlight some particularly beneficial uses for users.

Effortless Token Transfers

Imagine a common scenario among crypto users: Alice wants to receive 10 USDC on the Optimism chain, but Bob only has ETH on Arbitrum. With Miki, cross-chain token transfers are streamlined, allowing Bob to easily send the USDC to Alice, regardless of the chains or currencies they hold. This functionality eradicates the hassle of navigating multiple chains and currencies for simple transactions.

Seamless Payments Across Blockchains

Ever wanted to buy an item or an NFT on a blockchain where you don't hold assets? Miki makes this possible. By utilizing Miki, users can conduct payments on any blockchain without worrying about having assets on that specific chain. This opens up a world of shopping and trading opportunities across the entire blockchain ecosystem without the traditional barriers.

AI-Enhanced Intents

Miki has the potential to offer new user experiences by leveraging AI. With Miki providing access to all chains, it becomes possible to use AI to select the appropriate chain and application based on user intentions. For example, AI can analyze user queries like "Show me lending platforms with high interest rates" or "Which chain is likely to have an airdrop next?" and offer suggestions. Of course, these transactions can be executed seamlessly using Miki.

Product Design Breakdown

Describe the design of Miki's product, breaking it down into its major components. Combined, these provide users with an innovative Chain Abstraction experience.

1. Ethereum-based Asset Management: Users' assets, deposited across various chains, are primarily stored and managed on secure chains like Ethereum. Miki moves a majority of these assets to Ethereum using Native bridges, then allocates them to trusted protocols like Eigen Layer to generate returns.

2. Hubchain: The Transaction Management Core: Serving as the ledger and ATM of Miki, the Hubchain controls all transactions. It manages updates to users’ deposited assets and selects the appropriate bridge routes for transaction requests across any chain.

3. Bridge Functionality for Hassle-Free Asset Preparation: Miki prepares assets for transactions on behalf of users. For instance, if a user wants to purchase an NFT for 1ETH on Chain A, Miki bridges 1ETH between Hubchain and Chain A. For simple transaction requests, it communicates with the target chain using AMB (Navigating Arbitrary Messaging).

4. Gas-less Transactions and Intents: To relieve users from holding native assets for gas fees, Miki developed a gastank to cover these costs. Additionally, the implementation of intents allows users to execute any transaction post-bridge without worrying about gas fees, enhancing the accessibility and ease of interaction between blockchains.

How can the user experience be improved?

Miki significantly alters the landscape of existing user experiences in the blockchain domain. To understand the magnitude of this change, let's first examine the typical process a user goes through when minting an NFT on a new chain:

Preparing Asset: Users often have various types of tokens in their wallets, necessitating asset preparation through swaps or liquidity removal before bridging.

1. Finding Bridge Route: Identifying a bridge route compatible with the destination chain can be time-consuming, especially for emerging chains. Some bridges may require wrapped tokens or specific stablecoins.

2. Execute Bridge: Users pay gas fees to execute the bridge transaction.

3. Token Swap: Assets are swapped to purchase the desired NFT.

4. Acquire Native Assets: To execute transactions on the destination chain, users may need to bridge again or acquire native assets through a Centralized Exchange (CEX).

5. Token Swap: Swap assets on the destination chain to enable NFT minting.

6. Mint NFT: Finally, the user can mint the NFT.

Contrastingly, with Miki, once users deposit their assets, they can immediately mint NFTs on the destination chain without undergoing the aforementioned cumbersome process.

Miki differentiates itself from existing solutions in significant ways:

• Gas-less: While going gas-less eliminates the need to hold native assets on the destination chain, users still need to possess assets on that chain for transactions.

• Composable Bridge: Enables the execution of any transaction on the destination chain, such as swaps or NFT minting. However, users must still find a bridge route, prepare assets, and pay gas fees on the source chain.

By leveraging technologies like gas-less transactions and composable bridges previously developed by many projects, and uniquely integrating asset management, Miki dramatically enhances user experience.

Notably, users no longer need to concern themselves with "which chain to execute on" at any stage of the process, allowing for seamless transactions across multiple platforms.

Conclusion

Miki stands at the forefront of simplifying the blockchain experience, offering users seamless interaction across various chains without the typical hassles of asset management, network configuration, and transaction fees. Our innovative approach not only improves user experience but also opens up new possibilities for asset utilization and earnings.

We invite you to join us in this journey towards a more accessible and profitable blockchain ecosystem. Explore Miki today and discover the future of decentralized transactions. Together, we can shape a world where blockchain technology is intuitive, efficient, and universally accessible.

If you're interested in exploring Miki further, we'd love to chat with you. Click here for the link or email us at info@futaba.dev to start a conversation with us.