Infinity Wallet - Milestone 2

a47525176a8b4edfbc0351a16
5mos ago
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Dear Dotsama community,


The proposal

This proposal is a follow-on proposal (milestone 2) for further expanding support for both the Polkadot & Kusama ecosystems within the Infinity Wallet. Continuing on from the previously accepted milestone 1 approved on the 10th of May 2024, which was completed as of the 5th of June 2024.

We have successfully completed milestone 1 of the 3 milestone proposals to be completed for both Polkadot and Kusama, with all deliverables pushed live in the latest release of the Infinity Wallet. We welcome everyone to try the Infinity Wallet: https://infinitywallet.io/asset/polkadot




This proposal breaks down the potential benefits, along with what would be required to complete the developments for the successful completion of the proposal for Polkadot, Kusama and the wider ecosystems across the Infinity Wallet.


What Is Infinity Wallet?

Infinity Wallet is a decentralized all-in-one non-custodial wallet ecosystem and Web3 browser, that provides a one-stop solution for all a user's decentralized needs (a Wallet and Web3 browser Super-App). Infinity Wallet is uniquely not a browser extension, but a stand-alone native application, enabling seamless onboarding and easy access and use of crypto, cross-border payments, DeFi, NFTs and Web3. All within a single unique platform on desktop launched in 2020 and supporting around 56,000 MAU as of June, with mobile version launching that aims to redefine the mobile crypto wallet experience.

Our commitment is to deliver a premium, user-friendly, and comprehensive one-stop experience, particularly catering to less tech-savvy individuals. This dedication is reflected in several key aspects: our user-centric interface that prioritizes quality and functionality; ongoing efforts to innovate and to enhance the user experience, simplifying onboarding, navigating and interacting with the decentralized space; dedicated live support ready to assist users in traversing the decentralized landscape; and our overarching goal of consolidating all a user’s needs and features/services into a unified, one-stop cross-chain access point. In doing so, we aim to eliminate the fragmented, low-quality interfaces, limited support, and confusing user experiences commonly encountered with other wallets.

Furthermore, on desktop our Web3 browser solution stands out as the first of its kind, offering enhanced Web3 capabilities and an integrated app store for discovering decentralized applications. This innovative approach ensures a superior, safer, and more intuitive user experience, with a range of unique advantages for users, DApps, and chains alike. This also eliminates the need for the currently existing cumbersome browser extensions that offer limited functionality, as our Web3 browser and wallet ecosystem simplifies and provides a more natural Web3 experience. Unlike traditional browser extension wallets primarily catering to developers, our Web3 browser is tailored for broader adoption by less tech-savvy users.

Overall, our active focus is on enhancing the user experience, aiming to make access to the decentralized world effortless for both less tech-savvy users and seasoned participants. Our mission is to eliminate numerous existing barriers by providing a more enhanced and comprehensive in-wallet user experience, distinguished by a high-quality interface. Acting as a one-stop hub and seamless multi-chain wallet solution, our aim is to continue to deliver unique solutions and features that simplify onboarding and usage of the decentralized space and Web3, mirroring the ease of access seen in Web2 platforms today.

A further introduction can be found in our information deck, along with some UI examples: https://infinitywallet.io/docs/Infinity%20Wallet%20Deck.pdf


Budget for milestone 2

Total amount: 28,755 DOT (EMA7 on 30/06/2024 - https://polkadot.subscan.io/tools/charts?type=price);


Milestone 2 (Current referendum) -

The goal of this milestone 2 proposal is primarily to expand Polkadot & Kusama support, integrating native support across further features and building on top of the previously completed milestone 1, which focused on the core integration of Polkadot & Kusama. A brief overview of the deliverables of this proposal (a more detailed breakdown can be found in the proposal document here https://docs.google.com/document/d/14oH989kdZK_vOqlZ2CIaqjvsyosLpjxq9asq7-Yi9tA/edit?usp=sharing under the section deliverables):

  • Integrate support for Polkadot & Kusama Asset Hubs;
  • Support for Polkadot & Kusama tokens ("assets") across the Infinity Wallet & available features/services;
  • Pay transaction fees using sufficient assets (a big pain point for users is requiring ETH to send their Ethereum tokens. We are excited to integrate the functionality for users to be able to send assets such as USDT/USDC on Polkadot without requiring DOT, which we believe will be a big success with our existing user base);
  • Web3 Browser (not a browser extension but a desktop browser for Web3 to connect and transact with Web3/DApps);
  • DApp Explorer (discover and use DApps);
  • Wallet Connect;
  • NFT support & dashboard; (view, send, receive, sell & manage NFTs);

Milestone 3 (future proposal):

  • XCM transfers;
  • XCM swaps;
  • Account Abstraction;
  • Staking Dashboard;

Milestone 1 (completed):

  • Core wallet integration (Store, send, receive, create/restore, request, balance tracking and other core wallet functionality);
  • Complete Transaction History with support for different transaction types;
  • Portfolio and analytics dashboard;
  • Cross-chain swaps;
  • Fiat on/off ramp;


Value add of the proposal

  • A unique platform delivering a one-stop in-wallet experience as a native desktop wallet & web3 browser, which is currently lacking in the Polkadot & Kusama ecosystem to tap into an unserved user base (instead of the saturated unintuitive existing browser extensions). Providing a more complete and premium user experience, with a user first approach to deliver what is required for mass adoption by less tech-savvy users on desktop and soon coming to mobile;
  • Enable Web3 to be more easily adopted and used on desktop via the first native desktop Web3 browser & DApp store. Finally freeing desktop users from being limited to using only the currently existing solutions (unintuitive and feature-lacking browser extension wallets) to access Web3 and DApps. While providing a simpler, easy to use medium to access Web3 and discover DApps across multiple chains & parachains at the same time (no more manually switching between chains);
  • A platform actively looking to solve issues within the space today. Such as, the need to learn and use multiple platforms for each chain, lack of live user DeFi & Web3 support to help users learn and onboard, lack of limited in-wallet features/services with no complete one-stop wallet solution (limiting the user experience, along with user accessibility/usage), limited wallet solution types (mainly limited to seed phrase wallets), gas requirements (requiring a chain’s token to pay a fee rather than paying in the token transacting with), high swap as well as on/off-boarding fees, and outdated user interfaces with limited functionality. These all contribute to a bad user experience, which users currently have with many existing wallets in the space, and are all points that we look to solve. With most platforms focusing more on the current existing crypto community, rather than building to onboard the masses of less technical end users and providing unique and innovative solutions to user’s needs;
  • Enable easier ecosystem (Parachains, DApps, Tokens & other services) discoverability & accessibility, while increasing/simplifying adoption through the Infinity Wallet & Web3 Browser;
  • A simplified multi-chain experience, as the first multi-chain wallet to completely support Polkadot as a default native chain with all native Polkadot features delivering a unified wallet experience. This eliminates the need for multiple wallets or platforms, streamlining the user experience and enabling easier onboarding and interoperability between Polakdot and other ecosystems;
  • Meet the high demand of user requests for us to integrate and expand the Polkadot ecosystem;
  • Gain a valuable new ecosystem participant/partner that looks to heavily invest and contribute on an ongoing basis to Polkadot and its ecosystem for years to come, from new developments, features/services, partnerships and driving adoption;


Goals:

Below are some goals that we look to achieve with the completion of the 3 milestone proposals:

  • Completion of all deliverables, with live public release to over 2.5 million wallets created with Infinity Wallet since inception;
  • Support a minimum of 40 Dapps within the first 6 months of completion of all the milestones;
  • Integrate, collaborate & partner with Polkadot ecosystem projects (DApps, Parachains, tokens & other services), looking to work with at least 20 projects within the first 3 months of completion of all milestones;
  • Onboard over 50,000 new wallets interacting (holding, transacting, taking part in governance, utilizing DApps and more) with Polkadot & Kusama ecosystems within the first year of completion of all milestones;
  • Establish Infinity Wallet as one of the top choices for Polkadot users on Desktop (mobile in future), and actively contribute to and participate in the Polkadot ecosystem.


Open Source & Releases:

Infinity Wallet is an already established platform built from the ground up that has been in the space for 4 years. We open source some libraries, SDKs and other code that we use, allowing for open access and sharing of knowledge with the development community.

All Infinity Wallet versions are internally audited prior to each release. In addition, each release is signed with EV code signing certificate and PGP signatures, ensuring the security of each release signed with our EV code signing hardware security module. The releases are publicly shared on Github, allowing for easy validation of each build's signatures.

While the Infinity Wallet interface is currently not open source (mainly to protect users from scams and clones), this does not mean that users are at any increased risk by using it over an open source code wallet. In both cases users are still required to trust the developers building and distributing the releases. This is because an open source wallet release may not always be based on the same open source code as displayed in a public repo. And more crucially they may not be following strict security standards.

Infinity Wallet may open source the interface in the future with the public launch of Infinity DAO (with possible token airdrop). We hope to eventually become a wallet that enables users and the wider community to be a part of shaping and having a say on its future.



Please review the full proposal for a more detailed description, along with all deliverables & the cost breakdown for Milestone 2: https://docs.google.com/document/d/14oH989kdZK_vOqlZ2CIaqjvsyosLpjxq9asq7-Yi9tA/edit?usp=sharing



All the best,
Infinity Wallet Team

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