Bii ati Nibo ni lati Ra CWallet ( CW ) - Itọsọna Alaye

What Is CardWallet (CW)?

CardWallet (CW) is a next generation non-custodial wallet for Cardano with FIAT on/off-ramps services. The development of the project began in the spring of 2021 with the goal of shaking up the crypto market and offering users extraordinary utility and functionality. The CardWallet features a combination of useful tools like storage, exchange and trading of native Cardano tokens, staking, delegation and liquidity mining. Thus, CardWallet provides a complete and essential pool of functions for Cardano users as well as a full suite of DeFi capabilities.

The project was originally developed for the Cardano ecosystem and was designed to support other protocols, blockchains and native tokens. The developers of the project observed and defined the following problems of the industry: the structure of DeFi is not entirely comprehensible to the audience; the barrier to entry into crypto is high; UX / UI is inconvenient. Thus, the mission of CardWallet was evident: to create a simple and decentralized wallet with a clear interface and a basic set of functions, making the concepts of DEX, staking, yield optimization extremely user-friendly.

CardWallet users have full ownership of their assets. With CardWallet, they can send, store and receive fiat currencies to complete transactions in a secure manner. In addition to supporting crypto assets, the wallet works with Visa, MasterCard and Apple Pay.

CardWallet has a mobile version of the application on the Google Play Store and Apple’s App Store. Moreover, CardWallet is actively developing a web3 implementation for the nascent Cardano ecosystem. With support for over 30 fiat currencies and 5 languages, CardWallet is poised to become one of the leading DeFi wallets for sending, receiving and storing cryptocurrencies.

CoinWallet’s IDO (initial decentralized offering) took place from August 16 to 18, 2021 via the OccamRazer platform.

Who Are the Founders of CardWallet?

CardWallet was launched in May 2021 by Tiago Serôdio and Victoria Vaughan.

Tiago Serôdio (CEO of CardWallet) is an industry veteran who was introduced to blockchain in 2012. Serôdio has contributed to the success and recognition of high-profile crypto projects like Cardano, Occam.fi, HUMAN Protocol. He worked with DASH, and invented Masernod as a service concept.

Victoria Vaughan (COO of CardWallet) is the former CEO of Cointelegraph, which she built from scratch and then launched to the forefront of the crypto space. Vaughan has been involved in crypto since 2013. Over the years she has acted as a consultant for the digital asset trading software company, Scalable Solutions, and for Bitcoin.com Exchange.

Among the advisors of CardWallet are experts like Fernando Gutierrez, Florian Bohnert and Jesus Gonzalez. The list of strategic and technical partnerships includes Scalable Solutions, Simplex, Occam.fi, Nodeseeds and Crypto Dorm Fund.

What Makes CardWallet Unique?

CardWallet is a community-driven product that acts as the foundational tool for managing assets and interacting with applications in the Cardano ecosystem.

CardWallet features:

Users have access to centralized and decentralized execution venues, streamlined exchange processes, placement and delegation of ADA tokens, asset exchange across some layer-1 networks, and a DAO governance structure.

How it all works: Users stake CW, vote, and benefit from community participation through CardWallet's utility token - CW. In addition, CardWallet supports NFT storage and trading capabilities.

Cross-chain exchange functionality is provided via the MVP and a liquidity mechanism: major holders of CardWallet tokens can exchange assets with zero commission. Additional benefits include access to a debit card, yield farming, ADA cashback, community rewards for participation in governance, and the ability to influence the development vector of CardWallet.

CardWallet developers have built a clear and accessible interface that offers user-friendly design, easy access via PIN code and biometric authentication, and fast FIAT transactions in cryptocurrency.

CardWallet rewards community members for participating in debates, staking tokens, inviting other users, voting, suggesting improvements, and contributing to the development of the CardWallet ecosystem.

In order to create a shortage of the CW token, and therefore increase its value, the creators of CardWallet use a buy-back system: 25% of the net revenue goes to buy back CW on the open market + burn them. In doing so, users of the ecosystem can receive the benefits guaranteed by CardWallet.

Related Pages:

Read about Cardano (ADA).

Take a deep dive into Cardano with CMC Alexandria.

What is a wallet? Click here and find out.

Proof-of-Work vs Proof-of-Stake.

Hot Wallets vs Cold Wallets.

How Many CardWallet (CW) Coins Are There in Circulation?

The team created an engagement metric to help facilitate the direction of their community-centric tokenomics: 60% is assigned to systemic performance (how the community interacts with the product) and 40% to personal engagement (trading, staking, voting, testing, participating in competitions, referring others to CardWallet). Thus, this system of community-centric tokenomics transfers all power to the token holders and larger community, which makes the product completely decentralized and centered on the community.

Collective community action, as well as individual user action, is rewarded through discounts, early access to features, and the opportunity to participate in governance of the ecosystem.

CW tokenomics is divided into 4 stages (stages contain incentives that directly relate to the interaction with CardWallet):

Stage 1: Centralized order routing. Users stake and gain access to the exchange mechanism (no commission), receiving discounts in tokens (the amount equal to the commission fee).

25% of net income goes to the purchase of tokens on the open market and subsequent burning.

Stage 2. As a result of community voting, stakers receive discounts in the form of additional tokens - this is a variable percentage of stake income. At the end of each month, there is a community vote that chooses a successful Staking Pool Operator (SPO).

**Stage 3. **This is where profitability optimization for platform users takes place, namely, automation of yield farming processes across a wide range of platforms.

Participation features:

• the community votes on proposals and creates new ones for the CardWallet DAO

• there are proposals for upgrading CardWallet - CWIP, which can be submitted by community members

• initiative users are rewarded for their active participation in the life of the community;

  access to DAO voting appears.

Stage 4. At this stage, stakers have entry to an exclusive debit card, and can also request cashback in ADA tokens through the application.

How Is the CardWallet Network Secured?

CardWallet is a simple, secure, and decentralized crypto wallet that is hack-resistant and forbids access if the keys do not match. With CardWallet, private and public keys are stored to maintain the status. In order for a user to complete a transaction and gain access to coins in their wallet, they must meet a condition where the private key matches the user's public key.

As for Cardano, it's secured through an "environmentally sustainable, verifiably secure" PoS protocol - Ouroboros, which improves the security guarantees provided by the PoW consensus mechanism. Cardano's Proof-of-Stake consensus protocol is designed to reduce the energy cost of the block production process, a distinctive feature that sets it apart from other blockchains.

The non-custodial nature of CardWallet enhances the privacy and security of your digital assets, thereby giving you the autonomy to control your assets.

Where Can You Buy CardWallet (CW)?

As of January 2022, CardWallet (CW) is listed on at least three crypto exchanges, among them Uniswap (V2), MEXC, and HitBTC.

Download the CoinMarketCap mobile app, and track prices of CW or ADA in real-time.

Need a safe place to store your crypto assets? These top hot wallets can help.

Get the latest product updates, partnerships, and announcements from CMC here.

CW ti ṣe atokọ lori nọmba awọn paṣipaarọ crypto, ko dabi awọn owo nẹtiwoki akọkọ miiran, ko le ra taara pẹlu owo fiats. Bibẹẹkọ, O tun le ni irọrun ra owo-owo yii nipa rira akọkọ Bitcoin lati eyikeyi awọn paṣipaarọ fiat-si-crypto ati lẹhinna gbe lọ si paṣipaarọ ti o funni lati ṣowo owo-owo yii, ninu nkan itọsọna yii a yoo rin ọ nipasẹ ni awọn alaye awọn igbesẹ lati ra CW .