This week, Soramitsu, a fintech company based in Tokyo specializing in blockchain technology and building next generation financial applications, announced the release of Fearless Wallet, a feature-rich and intuitive DeFi wallet for the Polkadot and Kusama networks.
Fearless is a custom native mobile application built to support all Kusama and Polkadot network features, including advanced features such as staking and governance. The project aims to radically expand access to DeFi by seamlessly combining technical functionality with an intuitive and elegant user interface.
A DeFi Wallet Funded by the Community
The Fearless Wallet project has been funded by the Kusama Treasury. Kusama, the "canary network" of Polkadot, is a scalable network of specialized blockchains built using Substrate and almost the same codebase as Polkadot. The network is an experimental development environment for teams that want to move fast and innovate on Kusama, or prepare for the deployment on Polkadot.
The Kusama Treasury holds a pot of tokens collected through transaction fees, slashing and staking inefficiencies on the Kusama Network. Any community member holding Treasury tokens may submit spending proposals which, if approved, will result in the allocation of funds from the Treasury in support of new projects. This is exactly what happened with the Fearless Wallet. The community voted to provide Soramitsu with a funding grant from the Treasury, which allowed the company to begin the development of the wallet and ultimately launch the first implementation this week.
Fearless Features
The wallet features best-in-class fundamental wallet functionality, allowing users to easily send and receive tokens; view their total, available and frozen token balances in real time; view token fiat rates and total balance fiat equivalents; view deposit information; and view their transaction histories. Fearless Wallet supports eight languages and is available for Android and iOS.
Fearless also offers a convenient interface for account management and robust network management. Each user’s accounts are securely stored on their device within a secure application. Users have the option of adding additional security to their accounts through biometric authentication. Users can easily setup new – or restore existing – accounts for the Kusama, Polkadot and Westend networks in-app. Through the app, accounts can be rearranged, modified, exported or removed. Users can also view lists of default network connections (Parity and W3F nodes); add, update, rearrange, and remove custom nodes; and easily switch between accounts, networks and nodes.
But this launch is only the beginning. The Fearless Wallet roadmap outlines a range of future additions and revisions to the wallet. Many of these developments will facilitate interactions with the Kusama and Polkadot networks straight through the Fearless Wallet app. Users can stake tokens directly through the app, then nominate validators and bond tokens on Kusama and Polkadot. They can access the Polkaswap DEX and participate in token swaps and liquidity pool management within Kusama and Polkadot ecosystems. Finally, users can use the app to cast their votes in governance decisions related to Kusama and Polkadot.
In addition, a functionality that will allow users to purchase KSM and DOT tokens via credit/debit cards as well as via alternate payment services such as Apple Pay and Google Pay is being developed, along with advanced on-chain identity features and a local contacts book that aim to make the app even more user-friendly.
The Fearless Wallet looks set to unite the Polkadot and Kusama ecosystems by offering new and existing users an easy-to-use wallet that facilitates interactions with advanced network features. As the project develops and more of the advanced features outlined in the roadmap are added, Fearless should evolve into an essential tool for all players interacting with these next generation multi-chain protocols.