Private key management for a custodial account

Opeerah · May 3, 2024, 8:18am

Hello,
In my DApp most of accounts are no-custodial and all transactions require the owner’s signature, except one or two accounts that are needed to configure or delete the contract because this is not guaranteed by the owner(he may or not accept signing this Application Call), so to guarantee this logic I thinked to use an own account for most of contracts and set the appropriate logic in the contract itself(Assert Txn.sender() == App.globalGet(my_own_account_address)
The issue is in the private key which will be risky to store it anywhere in the DApp, so I have a couple of questions :
1- Is it a good practice to use a private account to configure or delete or doing something that MUST be done ?(because I can’t rely on user’s decision for that)
If not, what are the alternatives please ?
2- How can I store securely the private key for that account to sign Application Call transactions ?
Thank you

scholtz · May 3, 2024, 8:49pm

i recommend the my_own_account_address to be multisig of multiple ledger accounts

we have something similar… anyone can deploy their own amm pool, but we can configure our service fee…

github.com

scholtz/BiatecCLAMM/blob/9906610e25108cb79e63e8e788c64177f016819f/contracts/BiatecConfigProvider.algo.ts#L171


      
          
          /** 
           * Fees in 9 decimals. 1_000_000_000 = 100%
           * Fees in 9 decimals. 10_000_000 = 1%
           * Fees in 9 decimals. 100_000 = 0,01%
           *
           * Fees are respectful from the all fees taken to the LP providers. If LPs charge 1% fee, and biatec charges 10% fee, LP will receive 0.09% fee and biatec 0.01% fee
          
           * @param biatecFee Fee
           */
          setBiatecFee(biatecFee: uint256) {
            assert(this.txn.sender === this.addressExecutive.value, 'Only executive address can change fees');
            assert(biatecFee <= (SCALE as uint256) / 2, 'Biatec cannot set fees higher then 50% of lp fees');
            this.biatecFee.value = biatecFee;
          }
          
          /**
           * addressExecutiveFee can perfom key registration for this LP pool
           *
           * Only addressExecutiveFee is allowed to execute this method.
           */

Opeerah · May 3, 2024, 9:45pm

Hi @scholtz,
what do you mean please ? if possible to explain with some details Iam not very expert with Algorand

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Private key management for a custodial account

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