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1st uses MPC-based smart wallets to let users trade without connecting an external wallet. When a user signs up to 1st using email or a passkey, a decentralized smart wallet is created for them automatically using Privy. This wallet is fully self-custodial and controlled by the user. There is no browser extension or wallet connection required. Once signed in, users can deposit funds and start trading immediately.

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What this means for users

  • You sign in with email or a passkey
  • A smart wallet is created for you automatically
  • The wallet lives on chain and is owned by you
  • You can deposit funds and trade without connecting MetaMask or another wallet
From a user perspective, wallet creation is invisible. From a custody perspective, the wallet is fully decentralized.

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Key ownership and control

Although the wallet is created through the 1st interface, users retain full control at all times. Users can export their private key whenever they choose and use the wallet with any compatible external interface. There is no lock-in and no dependency on 1st to access funds. 1st does not hold user private keys and cannot unilaterally move user funds.