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Abstract

With the LSP11 - Social Recovery Contract a user is able to regain access after losing access to his/her UP.

To do that the user can add different guardians who vote for a his new address to regain access.

A user is able to add Guardians like family members or friends. But a user don’t just wants to have friends and family members as guardians. Users should be able to authenticate themselves with 2FA, Social Logins or even Biometric authentification.

For this we created the LSP11 - Recovery Service Contract, which allows external operators to act as Guardians for the LSP 11 - Social Recovery in a standardized way.

With recovery.social, we offer a UI, which helps the user setup everything and interact with Recovery Services.

We also provide sample projects and docs on how to become a Recovery Service and how to communicate with the LSP11 - Recovery Service and recovery.social.

Our vision is to build an open ecosystem where anyone can build a Recovery Service. The user decides, which services he trusts to help recover his profile. Because the number of guards (threshold), which are needed to recover, can be set individually so a user don't has to trust one service alone. This makes the system very flexible and trustworthy.

FAQ

How can account recovery work?

If you setup your own social recovery contract (LSP11), you add several guardians to it. If you lose access to your 🆙,those guardians can vote for your new address. If a threshold of votes is met, you can regain access to your 🆙🎉.

What is a Recovery Service?

A recovery service is basically a service that verifies the users Identity when setting it up (which method is up to the recovery service), and stores this information safely. A recovery service always has to follow the standard. If the user reaches back to the recovery service, because he lost access to his 🆙. The recovery service will identify the user and will vote for his new address. A user always has to decide which recovery service, friends and family members he trusts and adds as guardians 🛡️.

Why should someone operate a recovery service?

In the standard, a recovery service can define a price the user has to pay, if he wants the recovery service to vote after the user got verified. Another option could be a monthly subscription model the user pays to the service.

Best price guarantee✅:

If the user adds the recovery service as a guardian the current price gets saved. Therefore if the recovery service changes prices afterwards, the user don't has to worry.

If the recovery service reduces the price, the user will pay the reduced amount.

Video

Full Video: https://youtu.be/ymi8fKFvod8

Product Video: https://youtu.be/ymi8fKFvod8?t=117