How Parallel Studios powers LLM crypto trading agents (Wayfinder) with Turnkey

‍About

Parallel Studios is a Toronto-based gaming and entertainment startup developing the next AAA sci-fi franchise in the crypto space. Led by renowned artists and developers from the gaming industry, Parallel continues to break new ground in the realm of crypto-powered gaming.

Challenge

Streamlining transaction approval without commandeering user wallets

As a studio whose IP sits at the intersection of crypto, gaming, and AI, Parallel knew its less tech-savvy users would need assistance navigating its ecosystem. Not only was the studio's sci-fi TCG game fuelled by transactions using its $PRIME native token, but cards were also purchasable as NFTs, adding another layer of complexity for non-crypto savvy users.

After securing a sizable funding round led by Solana Ventures and VanEck, its team shipped Wayfinder, an onchain AI protocol that would help execute crypto transactions on behalf of its users using LLM models.

The only roadblock in their path? Since each crypto transaction requires the user to sign for approval, Wayfinder didn’t see a way to execute multi-step, automated, or scheduled transactions.

To overcome this issue, the Senior Software Engineer at Parallel and Lead Developer of the Wayfinder project started looking for a wallet infrastructure solution that would:

• Provide session-based authentication that would pre-approve user actions after initial login
• Streamline transaction approvals, reducing the need for repeated signatures
• Establish transaction parameters based on predefined limits and conditions

After vetting several authentication and key management solutions to no avail, a colleague recommended Turnkey. Within weeks of his initial pilot of Turnkey during Wayfinder's closed alpha, the team at Turnkey knew they'd found the ideal solution to his dilemma.

“We needed a way to offload signing responsibility without owning users’ wallets. Turnkey provided the perfect balance of security and convenience.”

Solution

Automated transaction approval in just a few clicks with Turnkey

Turnkey provided Parallel with a secure session-based signing model that enables users to authenticate once and make multiple transactions within a valid Wayfinder session. The initial integration was completed in only three weeks, thanks to Turnkey’s well-structured documentation and one-on-one support.

With Turnkey, Parallel users can:

• Sign up for Wayfinder and automatically generate a non-custodial embedded wallet within the platform in seconds.
• Leverage passkey authentication to securely log in and authorize transactions with familiar methods like biometrics (Face ID, fingerprint) or device-based authentication.
• Use session-based signing to pre-approve multiple transactions for a set duration. This creates an uninterrupted experience when users execute trades, rebalance portfolios, and process scheduled transactions.

With Parallel's technical barrier to entry eliminated, its users are free to immerse themselves within the TCG itself rather than its surrounding ecosystem.

"Turnkey’s documentation was solid, their support was excellent, and with a smooth integration process, we had everything up and running in just a few weeks."

Results

Frictionless sign-ups, increased adoption, and higher retention

Several months and 550k wallets later, Parallel has set a new UX standard within the crypto gaming industry.

And the results speak for themselves:

• 550k+ user wallets created
• 90% onboarding completion rate
• 3 weeks to full integration

What’s next? Parallel is now exploring ways to facilitate even more autonomous actions via Wayfinder, such as the monitoring of price movements and identification of optimal trading points. 

“We needed Wayfinder to eliminate unnecessary steps that often complicate the current crypto landscape. With Turnkey, we’ve made our entire ecosystem more efficient and user-friendly.”