OpenZeppelin and T-REX Network Introduce new Framework for Regulated Token Eligibility and Recovery

OpenZeppelin and T-REX Network have rebuilt ONCHAINID, an identity infrastructure framework used to check eligibility for regulated tokens, around modular smart accounts. The redesign moves signature validation, claims and recovery into installable modules, according to OpenZeppelin's Sept. 29 announcement.

ONCHAINID records cryptographic keys and verified claims about participants in the T-REX, or ERC-3643, permissioned-token framework. Token contracts consult those identities to determine whether a wallet is eligible to hold an asset. V3 preserves that role while reorganizing how identities authorize and execute transactions.

The earlier documented design already let identities hold tokens and interact with contracts through an execute-and-approve flow. V3 moves that flow into a separate module and replaces the monolithic identity contract with a modular account.

The new architecture uses ERC-7579, a standard for modular accounts, with ERC-4337 account-abstraction support. The changelog says identities can work with transaction bundlers and paymasters. Under the ERC-4337 standard, bundlers package user operations into transactions, while paymasters can pay transaction fees on users' behalf. The redesign also supports passkey-based signing.

The documentation describes a recovery module in which guardians can collectively restore access once they meet a weighted threshold. Recovery is delayed and can be cancelled by the account or a guardian quorum before execution.

Crosschain wallet linking also changes: V3 uses chain-aware addresses for EVM and non-EVM accounts, with crosschain links settled through trusted gateways and verifiers, according to the changelog.