xDefi Wallet is a multi-chain non-custodial wallet designed to facilitate the management and exchange of digital assets across various blockchain networks. It addresses the complexities associated with operating on multiple chains by providing a unified interface for asset management, swapping, bridging, and NFT handling.
Key Features
Chain Abstraction
xDefi Wallet provides a landing page that abstracts the concept of chains, displaying all user assets regardless of their native chains. This feature enables a consolidated view of the portfolio, eliminating the need to switch networks for asset management.
Aggregated Balances
To address the issue of managing assets across multiple networks, xDefi Wallet aggregates balances for tokens across different networks, providing a breakdown by chain. This simplifies portfolio visualization and enhances the self-custody wallet user experience.
Swap & Bridge
The proprietary DEX and Bridge aggregator of xDefi Wallet supports a broad spectrum of networks, enabling users to trade assets and migrate between different ecosystems effortlessly. This functionality enhances cross-chain liquidity and asset movement.
NFT Management
xDefi Wallet offers a unified interface for NFT holders to consolidate and manage their NFTs from various blockchains, providing easy access, management, and cross-chain interoperability.
Economic and Governance Model
Utility of $XDEFI Token
The $XDEFI token serves multiple utilities within the ecosystem, including staking, governance, gas abstraction, and access to premium features. Staking follows a veModel, allowing token holders to earn a share of the wallet’s swap and bridge fees. Governance rights enable token holders to vote on platform developments, while gas abstraction and premium features are slated for future release.
Staking and Revenue Distribution
Staking $XDEFI tokens allows holders to earn from the net revenue generated from all swaps, bridging, and staking. The wallet buys $XDEFI tokens on the open market with 75% of the net revenue to reward stakers.
Supported Chains
- Akash (AKT)
- Arbitrum (AETH)
- Aurora (AURORA)
- Avalanche (AVAX)
- Axelar (AXL)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- BNB Beacon Chain (BNB)
- BNB Smart Chain (BNB)
- Canto (CANTO)
- Cosmos (ATOM)
- Crescent (CRE)
- Cronos (CRO)
- Crypto.org (CRO)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Fantom (FTM)
- Gnosis (xDAI)
- Juno (JUNO)
- Kava (KAVA)
- Klaytn (KLAY)
- Kujira (KUJI)
- Litecoin (LTC)
- Mars (MARS)
- Near Protocol (NEAR)
- Optimism (ETH)
- Osmosis (OSMO)
- Polygon (MATIC)
- Sei Testnet (SEI)
- Solana (SOL)
- Stargaze (STARS)
- Stride (STRD)
- Terra (LUNA)
- THORChain (RUNE)
Historical Development
Genesis and Evolution
xDefi Wallet emerged as a solution to the fragmentation in the blockchain space, where users were required to manage their digital assets across multiple networks separately. The wallet’s development focused on simplifying the user experience by providing a single interface for all assets, irrespective of the native chain. Over time, xDefi Wallet has integrated with several Automated Market Makers (AMMs), Decentralized Exchange (DEX) aggregators, and bridge solutions, including prominent names like 1inch, Circle Bridge, and THORChain.
Technological Advancements
The wallet’s architecture is built to support a wide range of networks, allowing for seamless trades of over 10,000 assets. Its routing API has been a significant development, integrating multiple AMMs and DEX aggregators to facilitate efficient asset exchange and migration between ecosystems.
Future Prospects
Roadmap and Upcoming Features
xDefi Wallet’s roadmap includes the introduction of gas abstraction by Q4 2023 and premium features by 2024. These developments aim to streamline the user experience and provide additional benefits to $XDEFI token holders.
