The problems we address

Overview

In today's world, a wallet serves as the main interface for users into the blockchain realm. A typical wallet manages keys, updates balances, and profits from swaps (usually via centralized ATMs or DeFi routers) by charging small fees. This approach demands users to understand underlying technologies and solve issues independently. For example, if a user lacks ETH to send an ERC20 token, they face an “Insufficient funds” error, leading to confusion. Another common issue is managing assets across different blockchains, involving generating new addresses, bridging tokens, and securing gas tokens, which can be complex and daunting for users.

Furthermore, blockchain transparency and pseudo-anonymity pose significant privacy risks. Once an address is linked to an individual, all subsequent transactions and balances are exposed. Privacy-preserving pools or mixers could offer better anonymity, but regulatory pressures, as seen with Tornado Cash, complicate their use. Modern privacy protocols now integrate compliance tools to mitigate this. Compliance in the digital era relies on digital documents, necessitating intermediaries and special infrastructures to handle zk-proofs effectively.

Summarizing Problems

• With over 100 blockchains, users face overwhelming technical complexities.

• Simplistic wallet applications require users to deeply understand technologies and solve problems independently.

• Pseudo-anonymity is inadequate for significant financial operations. Once linked to identity, privacy cannot be restored.

• Compliance is necessary and enforced by authorities. There will be no link between TradFi and DeFi without compliance.

Draft Solution

• Wallets can do more for users than they currently do.

• Privacy is a must-have for next-generation DeFi.

• Compliance can coexist with privacy using modern ZK protocols.

Summarizing problems mentioned above:

1. In a world with >100 different blockchains, User is overloaded with technical complexities.

2. Simplicity of wallet applications requires User to have a solid understanding of underlying technologies and be able to do problem solving on his own.

3. Pseudo anonymity is no longer enough when it comes to operating with a significant amount of money. Once linked to identity, it can not be restored. A better level of privacy is required.

4. Compliance is required (and enforced) by authorities. Everyone understands that there will be no link between TradFi and DeFi without a compliance set.