In the world of blockchain, the old rule is very simple: whoever holds the private key has full ownership of the assets.

But Liquefaction – a new innovation on Sapphire – is changing this principle, opening up the ability to share access safely and in a controlled manner.

1️⃣Liquefaction is a decentralized wallet system, where the private key is fully protected inside the Trusted Execution Environment (TEE).
Users do not need to hold the keys directly, but can still conduct transactions if they meet the pre-programmed policy conditions.

2️⃣When a person sends a transaction request, TEE will perform a check of all conditions:
– Is it time to be allowed to use it?
– Is there a spending limit?
– Is the access permission correct?
Transactions can only be signed when all conditions are met.

3️⃣The first application of Liquefaction is the demo Take My Ape, where users can bid to "rent" a Bored Ape NFT for a short period.
The auction winner has full access to and usage of the NFT, such as verifying ownership, accessing the platform, but cannot steal the asset.

4️⃣This is not just a form of asset leasing. Liquefaction opens up the possibility:
– Share wallet access among multiple people
– Unlock liquidity for locked assets
– Design group ownership models, decentralizing flexibly and securely.

5️⃣The special point is that all actions are guaranteed by the privacy and verifiability of Sapphire:
– No one can steal the private key
– No one can "pull the plug" and disappear with the assets.
- Anyone can check the logic and policies being applied.

6️⃣Compared to traditional wallets, Liquefaction is like a layer of "smart contract" applied to the wallet address, allowing the wallet to operate like an organization:
– Can lease assets
– Can decentralize access
- A DAO model can be deployed based on personal assets.

7️⃣Liquefaction is an important step in redefining the concept of digital asset ownership:
- Not only own, but also control
- Not only secure, but also flexible
The future of Web3 will be built on platforms like these.