HandShake - A gasless, secure and more reliable way of token and NFT Transfers, Ensured by mutual consent

[MirandaKing]

Hello @Anderson,

We are implementing EIP-712 signatures from both the sender and receiver. These signatures, along with transaction data, are sent to the smart contract. The contract verifies that the data—such as receiver address, sender address, amount, and token—is consistent from both parties. It decodes the signatures to ensure they originate from the right addresses. This approach prevents users from sending funds to a misspelled receiver address or wrong amount , protecting them from errors.

[MirandaKing]

hello @ines_valerie . The ads will only be shown one time if the user want to do an sponsored transaction so It will not be that annoying

[manfred_jr]

Fee waiver is really an incentive that comes in handy, thanks for clarifying.

[Anderson]

Got it, thank you sonmuch for prompt reply

[Prince-Onscolo]

oh nice to hear this, all the best

[9jacosmos]

Does everyone know there is already a blockchain called Handshake (symbol HNS) ?

Not sure if that's important

[ines_valerie]

Thank you for you’re replying to me, it is really good thing that the ad will be showing only one time for sponsor transactions, please tell me because I will like to know, how long will the ads last, thank you

[MirandaKing]

It will depend on the advertisers. But we will not keep it more than 1 min max.

[ines_valerie]

Keeping it for 1 minute is very very fair because anything more than that will have to be very boring

[JOHNY]

@MirandaKing

The marketers who want to promote their content or their product will collaborate with us and give us the videos that’s need to be shown. they will also provide us the fees to promote their product which will be used for the sponsored transaction.
For NFT transfer. the user will need to load their NFT for now and provide their token ID. our platform will display that NFT and then It can be transferred with the Handshake model. Will updating it soon and providing the live site link so it would be more easy to relate to what I am saying.

How will you facilitate collaborations with marketers for promoting their content, and can you explain the NFT transfer process using the Handshake model?

[JOHNY]

@MirandaKing

It would be around different web3 protocols who wants to market their product. For NFT transfer, we will have the same model which is their for Tokens. The user will come to the Platform choose between send ERC20 or NFT. he will add their token ID and contract address and then do a EIP712 sign that he want’s to transfer that NFT to someone. the the other person will acknowledge it by doing an EIP712 sign from their end and then the sender can execute the transaction. Our New UI is almost ready. really exited to share it with you all. Will update you once it is ready.

How will users transfer NFTs on your platform, and what is the EIP712 signing process?

[MirandaKing]

Hello @JOHNY . It will be taken care privately for now but we are working on creating a dedicated module for collaboration.

[MirandaKing]

Nice question. So the user will need to load their NFT by adding the address and ID( in future we will list all their NFT’s they hold on the platform). For the EIP-712 signature. It will be first initiated by the sender and he will sign the EIP-712 transaction will all the details of transfer then the reciver will confirm it by signing from their side, now the sender can execute the transaction by sending both the signs to contract which eill verify them and perform the transfer.

[Youngyuppie]

Okay, it does answer my questions. Thank you and all the best to you

[MirandaKing]

Thank you @Youngyuppie.

[MirandaKing]

Hello Everyone. Feel Free to test our website . we would love to hear your feedback and will allow us to learn how can we improve more

[MirandaKing]

Was not aware of it. Thanks for sharing this

[MirandaKing]

Hey Everyone. We have successfully Integrated our Sponsored Transaction model and we have kept it open for everyone to test. Just some quick UI fixes are there. for now we have kept them open so anyone can sponser those transactions and execute those transaction on behalf of other user (which in real case scenario will be sponsored by the Organisation who have added their ads for sponsering transactions). Will soon be updating the steps to do it.

[gamesfi.org]

@MirandaKing

Devpost Project Link: HandShake | Devpost

Project Goal: The main goal of the HandShake Protocol is to make token transfers especially safe and secure, no matter how big the transaction. Before any tokens are moved, both the sender and the recipient have a chance to double-check and agree on all the details. This step is like a mutual thumbs-up — it ensures that everyone’s on the same page, and it prevents mistakes like sending tokens to the wrong place or to an inactive account.

With HandShake, you can relax knowing that every transaction is double-confirmed. It’s perfect for when there’s a lot at stake and you need that extra layer of security. Just a simple and secure way to handle big token transfers without any hassle.

Our Goal For Season 7:
In this Season,we are posting our project again in the builder track. Our primary goal is to elevate the HandShake Protocol by enhancing user engagement and expanding its utility. We aim to successfully implement our sponsored transaction model, creating a win-win scenario for users and marketers alike. By introducing this feature, we hope to attract a wider audience and make token transfers not only secure but also rewarding. Additionally, we plan to finalize our NFT transfer capabilities, empowering users to trade digital assets effortlessly. Our vision is to cultivate a vibrant ecosystem where every transaction adds value, ensuring that HandShake becomes the go-to platform for secure and engaging token exchanges.

Updates:
In this new version, we are upgrading the project to focus more on sponsored transactions. Our sponsored transaction model allows both parties to benefit: users will need to watch a promotional video provided by our platform in collaboration with third-party marketers to facilitate the transaction. Additionally, we are enhancing the protocol to support the transfer of NFTs, further expanding its utility.

Prev Season and Post-Hackathon Progress:

We were glad to win the first prize in the DeFi category, thanks to the judges and community members. However, we recognize that many people still do not fully understand the value of our project, and we aim to onboard more users. We are currently improving the project UI, as we believe there is a significant user base that are going to use this product . In this season, we are introducing exciting features that will attract more users to our product, particularly focusing on sponsored transactions—who doesn’t love free transactions? With this aim, we want to make transferring tokens more secure and accessible to everyone. We are also implementing an NFT transfer feature with the help of HandShake.

Project Value: Why HandShake Protocol Stands Out:

1. Peace of Mind with Double Confirmation: The HandShake Protocol isn’t just about sending tokens—it’s about sending them the right way. Before any tokens change hands, both the sender and the recipient check and agree to the details. This double confirmation process means you can always be sure that your tokens are going exactly where they should, reducing errors and enhancing security.
2. Flexibility in Gas Payments: One of the biggest hassles with traditional token transfers is the gas fee—especially if you don’t have enough in your wallet at the right time. HandShake changes the game by allowing the gas fee to be paid by the sender, the recipient, or even a third party. This flexibility means that transactions can go through smoothly, no matter who is footing the bill.
3. Ideal for Both Big and Small Transfers: Whether you’re dealing with a huge number of tokens or just a few, HandShake makes the process straightforward and secure. It’s designed to handle transactions of any size with the same level of care and precision, ensuring that everyone, from individual users to large organizations, can benefit.
4. Boosting Transaction Security: In the world of digital tokens, security can’t be taken for granted. HandShake boosts your transaction security by requiring active participation and verification from both parties involved. This not only prevents funds from landing in the wrong hands but also confirms that the recipient’s account is active and ready to receive, which is crucial for maintaining trust and reliability in digital transactions.
5. Enhancing Trust in DeFi: By ensuring that all transactions are mutually verified and agreed upon before they are executed, HandShake builds a stronger foundation of trust in decentralized finance (DeFi). This trust is essential for the growth and widespread adoption of DeFi platforms and services.

The HandShake Protocol adds immense value by addressing key pain points in the token transfer process, making it safer, more flexible, and more reliable for users everywhere. This approach not only enhances user experience but also fosters a more trustworthy and secure ecosystem for digital transactions.

Project Info -

HandShake Protocol leverages the EIP-712 standard, which allows users to see clearly structured data when signing transactions. This clarity ensures that all parties understand exactly what they are agreeing to, enhancing trust and security in decentralized transactions.

Project Website:

Testnet: Testnet link
Mainnet: Mainnet link

Project Test Instructions:

Step 1: Visit the Site and Connect Your Wallet

1. Open your preferred web browser.
2. Enter the URL of the project site to navigate to the homepage.
3. Locate and click on the “Connect Wallet” button. This is typically found in the top right corner of the webpage.
4. Select your wallet provider (e.g., MetaMask) from the list.
5. Follow the prompts to authorize the website to access your wallet. Ensure that the connection is secure.

Step 2: Access the Dashboard

1. Once your wallet is connected, click on the “Dashboard” link, located in the top right corner.
2. On the Dashboard, you will see an overview of all transactions associated with your connected wallet.

Step 3: Initiate a Transaction

1. Locate and click on the “Initiate Transaction” button on the right side of the dashboard.
2. A form will appear asking for transaction details. Fill in the necessary fields such as amount, recipient address, and any relevant notes.
3. Review the details and confirm the transaction. This action will trigger MetaMask to display the transaction for approval, showcasing the EIP-712 formatted message.
4. Approve the transaction in your wallet to proceed.

Step 4: Review and Sign the Transaction

1. Navigate to the the receiver side if you are sending to you own different address or ask the person to sign the transaction which you have initiated the transaction.

Step 5: Verify the Signed Transaction

1. Connect back to your address from which you had initiated the transaction where you can see all transactions waiting for final approval.
2. Locate the transaction you have been working on. It should now show as being signed by both parties.
3. Click on the “Execute” button to finalize the transaction.

Step 6: Confirm Transaction Success

1. After clicking “execute”, your transaction should be processed. A confirmation message or transaction receipt will be displayed.
2. Verify the transaction details in your wallet and on the blockchain to ensure everything matches and that the transaction is successfully recorded.

Project Details:
Handshake_pitchdesk.pdf (369.0 KB)

HandShake Protocol: How It Works and Innovates

Initiation by Signature:

HandShake Protocol begins with the sender initiating the transaction. Instead of immediately triggering a transfer and incurring gas fees, the sender signs a digital proposal using their private key. This signature effectively states their intent to send a certain amount of tokens to a specified recipient.

Recipient’s Consent:

Upon receiving the notification of the proposed transfer, the recipient reviews the details carefully. If they agree to the terms, they too provide their signature as a form of acceptance. This dual-signature approach ensures both parties are fully informed and consenting before any tokens are moved.

Using EIP-712 for Enhanced Security and Clarity:

A standout feature of HandShake Protocol is its integration of EIP-712, a standard for typed structured data hashing and signing within Ethereum. EIP-712 allows the data involved in these transactions to be structured clearly and securely, which is particularly beneficial in a protocol like HandShake. When users are prompted to sign a transaction, EIP-712 ensures that what they see is not just a confusing hash but a readable, structured summary of the transaction details. This clarity helps prevent mistakes, enhances user understanding, and builds confidence in the safety of the transaction process.

Completion and Gas Fee Flexibility:

Once both signatures are collected, the sender can proceed to finalize the transaction. This step involves the actual transfer of tokens, which now can be done knowing both parties have agreed to the terms. HandShake Protocol also offers flexibility regarding who pays the gas fee—be it the sender, the recipient, or another party. This feature is particularly useful in scenarios where the original sender may not have sufficient funds for the gas fee at the moment of the transaction.

On-Chain Verification:

All signatures and consents are verified directly on the blockchain, providing a secure and tamper-proof system. This verification ensures that all parties are legitimately agreeing to the transaction, which is crucial for maintaining integrity and trust in the transfer process.

Why EIP-712 Matters Here:

Leveraging EIP-712 significantly enhances the user experience by making what you are signing clear and understandable. For a process that relies heavily on mutual consent and understanding, such as in HandShake Protocol, having a transparent and straightforward method of displaying transaction details is invaluable. This use of EIP-712 not only aids in user comprehension but also plays a critical role in security by reducing the risk of fraudulent or mistaken transactions.

By leveraging advanced features like EIP-712, HandShake Protocol not only modernizes token transfers but also addresses key issues of security, consent, and flexibility, making digital transactions more reliable and user-friendly.

New Feature - Sponsored Transactions:

In this updated version, HandShake Protocol introduces a sponsored transaction model, where users can engage with promotional content from third-party marketers. To facilitate a transaction, users will need to watch a video provided by our platform. This feature creates a win-win situation for both parties involved, enhancing user engagement while supporting marketing initiatives.
By leveraging advanced features like EIP-712 and the new sponsored transaction model, HandShake Protocol not only modernizes token transfers but also addresses key issues of security, consent, and flexibility, making digital transactions more reliable and user-friendly.

Smart Contract links:

Deployed Testnet Contract Link: (HandshakeTokenTransfer | Address 0x0856Ab13d8BFC644c1096554Bd23779dc42e4cDE | BTTCScan)

New Feature
Update Testnet Contract Link with NFT Transfer Feature
(Contract Address 0xF38B64E2FA2eD1Bc9A80Cd3c4F5AF4ABEC909c17 | BTTCScan)
(handshake/contracts/handshakeV2.sol at b72eb3b7bdb1272cc029f81255d4c4783fd0da55 · MirandaKing/handshake · GitHub)

Hi HandShake team,

How will sponsored transactions help users? How will you keep them comfortable with ads?

What security measures are implemented for the sponsored transaction model?

[MirandaKing]

Hello @gamesfi.org . The sponsered transaction will help those users who have ERC20 token and want to transfer then but no native token to pay for the gas. Our platform will assure 100% security of the funds.
We have kept one ad per transaction only so it is feasible that every one would give their 30 secs foe a free transaction