Closed InfinityWallet closed 10 months ago
InfinityWallet
commented
10 months ago Hello @realChainLife @ErinOCon @smagdali, hope all is going well. We are reaching out as its been quite a while since submitting the application and were wondering if there was any update or questions? Thanks
ErinOCon
commented
10 months ago Hi @InfinityWallet, thank you for your proposal and for your patience with our review. Unfortunately, we will not be moving forward with a grant at this time. Wishing you the best as you continue building!
Note: To contact our team with grant program related inquiries, please send an email to grants@fil.org.
Open Grant Proposal:
Infinity WalletProject Name: Infinity Wallet
Proposal Category: Integrations
Individual or Entity Name: Infinity Wallet
Proposer: https://github.com/InfinityWallet
Do you agree to open source all work you do on behalf of this RFP under the MIT/Apache-2 dual-license?: Infinity wallet, while free to use for users and developers, is not fully open source due to the pitfalls of being fully open-source for such software.
We do however provide open-source access for developers to our libraries, repositories and smart contracts that we develop.
Some reasons why we are only partially open source:
Open sourcing software brings increased security risks to users, by enabling scammers to target users more easily with fake, malicious, phishing versions of Infinity Wallet. This is already a major problem our team deals with daily, from users contacting about fake versions of the Infinity Wallet that don’t even look or operate like the official version. An open source version would simply enable scammers to clone the wallet and make malicious changes, impacting our resources, increasing overall costs and lowering reputation, as well as affecting users even more greatly.
Open sourcing all aspects of a product (including the design and user interface elements) makes it very easy for anyone to copy and reap the benefits from our hard work, innovation and time/money freely. It would enable mass cloning as seen with DEXs, browser extension wallets, and other open-source front-end interfaces or software, which plagues the industry with many cloned projects launching with low skilled developers, stifling innovation.
In-regards the proposal we follow the grant policy for Filecoin that states "we award funding in the Integration and adoption category to applications seeking to add IPFS, Filecoin, or libp2p support to an existing, closed-source software project", which as an already existing project with years in the space and significant traction in the industry, with over 48,000 MAU, we would fall under this category.
Project Summary
Infinity Wallet is the first all-in-one non-custodial wallet ecosystem and Web3 browser of its kind on desktop (“a Wallet Super App”). Not a browser extension, but a complete standalone desktop application providing a one-stop solution for seamless access and usability of DeFi, NFTs and cross-border payments, with a gateway to the world of Web3/DApps via the first desktop Web3 browser and Dapp store. Fulfilling all a user's decentralized needs in a single platform, while removing the complexities of decentralized finance and Web3, enabling economic freedom for everyone globally!
Infinity Wallet was created to finally enable mass adoption, as a single access point to the entire decentralized world. We have focused on providing the best possible user experience, to lower the barrier to entry and allow for streamlined and secure adoption of DeFi and Web3. Providing a world-class user experience with a seamless user interface, and a full spectrum of constantly growing in-wallet features and services as a one-stop hub. Making Infinity Wallet the complete solution for all crypto users’ needs, while making adoption and usage of cross-border payments, DeFi, NFTs and Web3 easier than ever before for mainstream adoption.
Infinity Wallet is not just a unique one-stop wallet built for the masses, but it is also the first desktop platform to provide users with access to the entire Web3 and DApp space without needing to leave their wallet, with the first Web3 browser and DApp store on desktop as a standalone App. Finally removing the need to use unintuitive, unfriendly and feature-lacking browser extension wallets ever again! Providing a far superior, safer and more natural user experience, with a range of unique advantages for users, DApps, and chains alike, while enabling easier usage and adoption.
Impact
Wallets are one of the most fundamental components required for usage and adoption of DeFi, Web3, crypto payments, a chain and its ecosystem, however they are one of the least well developed applications in the crypto ecosystem.
Today, wallets act mainly as an interface, serving primarily as a transaction signing layer, with very limited functionality or in-wallet features, requiring use of multiple platforms, and are generally lacking in basic UX, while providing very unprofessional, hard to use and aesthetically poor user interfaces, with most platforms built for developers rather than end users. This has been sufficient for the early adopters in crypto, however, for the next billion users to onboard, a more curated, frictionless and high quality user experience is required!
Desktop Web3 wallet options are limited in particular, delivering very little in terms of new innovation, or solving today’s issues, while requiring the user to install a browser extension, which is not the natural flow. Overall delivering an unintuitive and feature-lacking user experience, with limited support for a chain and its ecosystem/DApps, greatly restricting the possibility for discoverability and adoption.
For FileCoin to compete and attract users and developers, it needs a one-stop wallet super app providing a seamless user experience, to enable users to onboard and adopt FileCoin, and discover the FileCoin ecosystem as their home.
As of today the FileCoin ecosystem has very few wallet solutions! The wallet solutions that do exist today are not built for mass adoption or use by less tech savvy users, they are more built with a focus on usage by developers and generally provide low quality user interfaces, lack a curated in-wallet experience, lack many features/services that users require and overall provide a terrible UX.
Infinity Wallet steps in to fill this need, as a one-stop hub for all payment, DeFi, NFT and Web3 activity. Providing a unique all-in-one wallet and Web3 browser solution with a full spectrum of in-platform services, features and protocols, focusing on delivering a premium platform and enhancing the user experience, while providing a user centric interface for a seamless decentralized user experience. Streamlining accessibility and lowering the barrier to entry, to allow for easy onboarding and true adoption of DeFi, crypto payments & Web 3.0 globally.
Project Metrics
Outcomes
The goal of the proposal would be to enhance FileCoin FVM with a much needed one-stop user focused wallet and web3 browser ecosystem, providing FileCoin access to the many advancements we have, bringing much needed valuable infrastructure, services and ecosystem support, which FileCoin currently lacks (for DeFi, Web3, and cross-border payments). While enhancing the user experience and bringing new utility, and allowing for easier usage, access and adoption of FileCoin and its ecosystem by less tech-savvy users, while also empowering developers with easier discoverability and usability of their DApps & Tokens, driving easier adoption.
Infinity Wallet, as a unique first of its kind one-stop wallet and Web3 browser ecosystem on desktop (with unique ux focused mobile release to come), built for the masses and supporting hundreds of thousands of users, can help excel FileCoin by improving the user experience and lowering the barrier to entry. Delivering an all-in-one ecosystem platform that will provide access to multiple unique in-wallet features/services with constant new developments, along with a focus on delivering a high quality and user-centric interface, redefining the DeFi & Web3 user experience and providing users direct access to all their needs in a single platform. Allowing for streamlined adoption and onboarding of FileCoin and its ecosystem, for DeFi, Web3, and cross-border payments.
Additionally, FileCoin currently lacks streamlined Web3 support for connecting and transacting with DApps. As the FIRST desktop Web3 browser and DApp store, we bring a unique more natural user experience and value to any chain integrated when accessing DApps and Web3 (compared with browser-extensions), finally freeing desktop users from having to use unintuitive, unfriendly and feature-lacking browser extension wallets to access Web3 and DApps, while enabling easier DApp/developer discoverability!
Below are some of the key infrastructure and features/services that could benefit and bring value to FileCoin FVM and its ecosystem:
Portfolio and Analytics Monitoring/Dashboard -
One-stop DeFi Wallet Solution with a strong focus on user experience -
First desktop Web3 Browser (One-click connect and transact with Web3 DApps, with utmost discoverability and use of a chains’ ecosystem) This removes the need for unfriendly and feature-lacking browser extensions to access Web3 and decentralized applications on desktop -
Web3 DApp Store (Enables easier DApp & ecosystem discoverability, adoption and usage) -
Cross-chain swap & bridge (Swap/Bridge between multiple supported chains) -
In-wallet decentralized exchange aggregator -
NFT support and Gallery to manage (view, send and receive) and easily trade NFTs -
Complete Transaction History for all transaction types with DApp linking and balance/performance tracking -
Custom Token Importing (Allowing any token to be imported on any supported chain) -
Desktop QR Scanner (Drag to scan Desktop scanning for payment requests, wallet connecting and etc.) -
Live user and chain support, with a focus on delivering the best possible user experience to make onboarding and learning for users as easy and seamless as possible -
For a detailed look over our many other features/services please see our information deck available at https://infinitywallet.io/docs/Infinity%20Wallet%20Deck.pdf, or our docs at https://docs.infinitywallet.io/infinity-wallet/features-and-notable-advancements (detailing further information on core features/services and secondary features).
We also look to launch our highly anticipated mobile release next year on Android and iOS, a sneak peak can be found below.
Adoption, Reach, and Growth Strategies
Our target audience are primarily retail users (for wallet, payments, accessing DeFi, NFTs and Web3/DApps), along with a secondary focus on developers and driving further awareness, adoption and easier usage of their project (DApps, Tokens and NFTs).
If applicable, how do you intend to onboard new users? If you are just starting to interact with your target audience, how will you onboard your first 10 users? Your first 100?
Infinity Wallet is an already live platform supporting hundreds of thousands of users and has over 48k MAU during the current market. All adoption and growth of the Infinity Wallet up to now has been mainly from organic growth (partnerships and word of mouth) due to the inherent issues we solve, as well as the value and unique premium experience we provide users, projects and chains within the space, as we continue to redefine the wallet, DeFi and Web3 experience.
Development Roadmap
We would operate via a single milestone, which would be the completion of all deliverables and live launch of FileCoin developments and integration. This expedites the process and allows us to focus on fully completing, before receiving any payment.
While we operate via a single milestone, you can find our internal milestones/deliverables below to give a deeper insight:
- FileCoin FVM core functionalities to be able to interact with and utilize the FileCoin FVM chain (store, send, receive, create/restore, balance tracking and other core FileCoin FVM functionality);
- Contract resolving for linking/resolving protocol transactions and DeFi positions to a specific DApp;
- Complete transaction history with advanced in-wallet information ($ value at time, $ value now, balance movement chart and etc…);
- Integrate/develop portfolio & analytics management for FileCoin;
- Develop out support for FileCoin tokens across Infinity Wallet (send, receive, balance, transaction history, DApps and etc) and available Infinity Wallet features;
- Support top FileCoin tokens as default enabled/integrated for instant use;
- Web3/DApp Store to allow for easy discoverability and adoption of FileCoin ecosystem projects;
- Payment requests;
- Desktop drag and drop QR scan;
- Live Market stats;
- Price Alerts;
- WalletConnect;
- Etc..
- On-going support for Support as a default enabled native chain;
- Announcements across all social channels;
- Creation of a custom FileCoin web page on the website;
- Announcement in the wallet of the integration of FileCoin;
- Announce in newsletter to 110k+ subscribers;
- Provide on-going support to the FileCoin ecosystem of DApps/Projects with direct integration into the Infinity Wallet for free (waiving our usual fee) to drive increased FileCoin ecosystem adoption and discoverability;
Total Budget Requested
Budget = $29,000
Maintenance and Upgrade Plans
Specify your team's long-term plans to maintain this project and improve it over time. On completion of the proposed deliverables and integration of FileCoin we will provide ongoing maintenance support for FileCoin chain as well as development support with integration into future available features/services on a case by case basis, along with integration for free into our unique user focused mobile launch expected early 2024;
As a project we have a lot of goals we look to accomplish and developments planned over the next couple of years, some of these can be found on our roadmap on page 27, here: https://infinitywallet.io/docs/Infinity%20Wallet%20Deck.pdf
Team
Team Members
Information on the core team members can be found at the following link: https://docs.google.com/document/d/1c4fpyzI64569uNr8l9Ygo_G3x2NTs_Dq8wRGSnOXH14/edit?usp=sharing
Team Website
infinitywallet.io
Relevant Experience
Our team is made up from individuals that have extensive experience in the space, with a complete crypto experience from Smart Contracts, DeFi/Web3 projects, DApp development, Wallet and more. Our team has a general background in software development and UI/UX.
Additionally, our team members have between 5-10 years of experience within the space (as investors, miners and developers), so we have a vast amount of experience and understanding of major shortcomings in the market, along with what is needed to enable mass adoption.
Additional Information
How did you learn about the Open Grants Program? Our support team has received requests from users reaching out regarding integrating support for Filecoin, so we looked to see if there was a grant program to be able to accomplish the integration.
Security & Auditing? As a fully decentralized and non-custodial wallet the user is in full control of their wallet, funds and data. This removes the vast majority of security risks, in comparison with centralized platforms. As for wallet security, the user's private keys are only held locally on the user's own device, while being encrypted, with the option to add D2FA to each individual wallet to add an extra layer of encryption and security. In the future we are looking into enabling users the option to encrypt their wallet with a U2F key, which would then require a U2F hardware device to unlock their decentralized wallet for maximum security, providing nearly the same degree of security as a hardware wallet.
In addition to providing the highest level of security for users' private keys, we also provide users that access the Web3 browser with phishing and scam protection, by blacklisting known scam and malicious apps/smart contracts to warn users of potential scams and increase user protection.
As a constantly evolving wallet ecosystem platform with updates every few weeks, it is unfeasible to get an external audit for each release. This is why we have a dedicated team that internally audits and tests each release, in addition to us maintaining strict internal policies to ensure user and app security at all times.
Please provide the best email address for discussing the grant agreement and general next steps aron@infinitywallet.io