Waymont Recovery Module
Securing private keys can be intimidating. That’s why we’ve introduced the concept of Trusted Devices. You can secure your assets across multiple devices, each protected by three layers of security.
But, what if you lose all your Trusted Devices? That's where Waymont's Recovery system comes into play.
Overview
The Waymont Recovery Module is a Gnosis Safe smart contract module that can be enabled on your Waymont Vault.
It supports social recovery by distributing recovery signers across your trusted friends and family via the same Waymont Mobile App experience. Together, these recovery signers can then be used to recover your account in case you lose your Trusted Device.
The Waymont Recovery Module cannot initiate transactions besides the secure recovery of your funds.
Enrolling Trusted Guardians
Waymont supports social recovery via an intuitive flow.
Invite your friends and family to be your “Trusted Guardians” via email in the Settings page.
Your invited parties will receive an email invitation to download the Waymont Mobile App.
Once the invited Guardians download the Waymont Mobile App, it creates a private key secured via the Secure Enclave of their mobile device. It also asks the invited Guardian to backup an encrypted version of their keys to iCloud.
Confirm and approve their enrollment as a Trusted Guardian.
In the event that your Trusted Guardian loses their device, they will be able to restore their recovery signer via their iCloud backup. iCloud backups are encrypted and an attacker would need to gain access to multiple Trusted Guardian accounts to trigger recovery.
You may always cancel recovery from within Waymont Web and SSO.
Recovering your keys
We’ve introduced account recovery to eliminate single-points of failure. A user may recover the following assets via the following steps:
Download the Waymont Mobile app and scan QR code on Waymont Web to login
Select "I have lost my Trusted Device," which triggers the Recovery process
Ask guardians to open their Waymont Mobile App and approve the recovery request via their biometrics
If 51% of the guardians approve the request, the device that triggered the recovery is designated as the new signer following a 48-hour waiting period.
If you trigger a recovery request via your Trusted Guardians, the Waymont Recovery Module verifies that 51% of your Trusted Guardians have approved of the recovery and the Policy Guardian enforces a 48 hour delay on any recovery.
You may always cancel recovery from within Waymont Web and SSO.
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