The Guardian Contract and Lock Registry are exciting new mechanisms for securing your NFTs! The new system comes from the CyberKongz developers and will give users the ability to secure the NFTs in their hot wallets. Significantly this will provide much-needed security against scams.
About The Guardian Contract and how it can secure your NFTs
To sum up, this new method of on-chain two-factor authentication (2FA) comes from the devs for the CyberKongz NFT collection. In particular, the project’s solidity dev Owl (@OwlOfMoistness on Twitter), outlined how this new system came to be as a result of an incident with the VX CyberKongz.
Basically, the CyberKongz team put together its Lock Registry as it would help owners when it came to staking their assets. Then, on the day that CyberKongz launched Play & Kollect, one holder had their seed phrase compromised. However, due to the Lock Registry, the hacker could not access the holder’s VX CyberKongz.
It’s important to note that the hacker might have been able to access the NFTs with a bit more time. This is where the addition of The Guardian Contract comes into play.
In essence, the Guardian Contract allows a user to set up an Ethereum address as the guardian for assets in a different address. Then the guardian, and only the guardian, has the power to lock, unlock, and unlock & transfer those NFTs.
What’s more, The Guardian Contract has an unlockAndtransfer call which can automatically transfer NFTs to a safe wallet. Obviously, this feature could be a lifesaver for people who have their wallets compromised through a hack or scam.
Overall this amazing feature could allow NFT owners to keep their NFTs in a hot wallet, while adding the security of a cold wallet on top. Given the growing number of NFT scams, the Guardian Contract could be an absolute game-changer.
You can read more about how The Guardian Contract works in Owl’s full blog post here.