Mint an ERC-721 representation of an account's assets to provide verifiable account information (wallet validation).
You wouldn’t go to your local coffee shop with every asset to your name so why do we interact with web3 in this way? every time we connect our wallets and interact with applications we are putting holdings at risk. Because many applications involve proof of ownership users frequently interact with web3 with accounts that hold a significant percent of their portfolio. To solve for this I have created Wayval - a wallet validation platform that allows you mint an ERC-721 token called a wave. A wave acts as a proof of an account’s holdings at a given point in time. Why is this helpful? This allows for a user to provide an account with proof of ownership without the account having to hold the underlying assets. If an account holding a wave is compromised or you no longer want to provide that account with proof of ownership you can recover any waves that are held by other accounts. Wayval v2 will incorporate a smart contract in the minting process where a user can deposit funds into a contract to mint a wave as proof of collateral. This would enable a user who holds a wave to borrow against this proof of collateral and access funds on an as needed basis. Each time a user borrows funds it will update the metadata on the wave to update the collateral balance accordingly. Now when a wave is recovered, if the remaining balance is 0 a user can simply burn the wave and liquidate their collateral or deposit the wave into the contract and receive their leftover collateral.
How it's made