The pricing model

Wallet as a Service
1

Hi, got several questions:

  1. what would the pricing model look like once you are out of beta?
  2. is it possible to reconstruct/export the private key/seed phrase to have a backup of the wallet?
1 Like
2

Hi @fwes

Welcome to the Forum! We’ve referred your queries to our internal teams and we’ll get back to you as soon we get an update on this. Appreciate your patience & understanding.

3

Hi @fwes

Hope you are doing good. Please the find the answers for your questions below:

  1. what would the pricing model look like once you are out of beta?

WaaS will offer a pay-as-you-go billing model (launching soon) based on # of wallets. Billing will be directly accessible in the Coinbase Cloud portal (https://cloud.coinbase.com/) and customers will be billed monthly based on their consumption.

  1. is it possible to reconstruct/export the private key/seed phrase to have a backup of the wallet?

Yes, it is possible to export the private key and it is possible to obtain a backup of the wallet.

WaaS ensures that end users are able to export their full private keys out of a WaaS-controlled wallet without any interaction with Coinbase or any other entity. This will be coming in GA.

We hope this helps. Have a great day ahead!

4

Thanks and straight to follow up questions:

  1. Is it right that pricing will be based solely on the # of wallets, and not the # of txs those wallets perform? Asking because each MPC tx requires some computation on your end afaik.
  2. Do you plan to add m/n keys support? Or is your protocol tailored only for 2/2?
5

Hi @fwes

Thanks for reaching out again. We are yet to receive the answers for your questions from our internal teams. We request you to stick around and we shall get back to you soon.

1 Like
6

Hi @fwes

Hope you are doing good. Below are the answers to the follow up questions:

  1. Is it right that pricing will be based solely on the # of wallets, and not the # of txs those wallets perform? Asking because each MPC tx requires some computation on your end afaik.

Yes, pricing is based solely on number of wallets.

  1. Do you plan to add m/n keys support? Or is your protocol tailored only for 2/2?

Although our current MPC configuration model is based on a 2 of 2 signing scheme between Users & Coinbase, we do plan to support M of N signing in the future.

We would be interested to hear more about your use case and how you plan to utilize M of N support.

7

Hi @Caleb,

For " Yes, pricing is based solely on number of wallets.". Is this the number of newly created wallets or the active wallets in month?

Thank you in advance.

8

Hi @Hayden

Welcome to the Forum! This is based on the number of newly created wallets for now. We hope this helps and feel free to ask if you have any other questions.

9

@Caleb, I’m not sure having a monthly price based on wallets created makes sense.

I notice there is no method in the API to destroy a wallet. Since this is MPC and non-custodial, I understand the challenges of “destroying” a wallet.

But this means that, as a developer, my cost to use the service grows irrespective of actual usage. Said differently, any user who I give a wallet to I’m signing up to pay $0.12 per month for the wallet in perpetuity. Even if they abandon.

Maybe it’s worth thinking about billing based on active wallets? Or allowing wallets to be marked dormant such that they cannot be used (and are not billed against) until they are marked active again?

10

Appreciate the well versed response!

We agree with you on this and we’re actively working on improving our pricing to better fit developer needs.

11

Awesome. And as I hoped. I think this is important to work out for someone to consider building on the platform.