Gate.io AMA with Ambire Wallet-To Make Crypto Self-Custody Easy And Secure for Everyone

Time: Apr 28th, 2022, 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Georgi Vladimirov, Community Manager of Ambire Wallet in the Gate.io Exchange Community.
Official Website: https://www.ambire.com/
Twitter: https://twitter.com/AmbireWallet
Follow Ambire on Discord and Telegram

Guest

Georgi Vladimirov — Community Manager in Ambire

Q&A from Gate.io

Q1: Please tell us a few words about the purpose of Ambire Wallet? How did you come up with the idea about it?

Georgi: Ambire Wallet was launched in December, 2021, from the same team who created Ambire AdEx (originally AdEx Network) in 2017.

Naturally, with time, as everyone in the team is crypto-savvy, we started seeing things in the non-custodial wallets out there that were bothering us and that we were able to fix with a new product. When we validated that the market needs the same, we decided to create Ambire Wallet and solve the common UI/UX pain points that the other wallets were having, adding even more great functionality on top of that.

And to give you a better perspective about this, Ambire Wallet is a full-featured open source and non-custodial Smart DeFi wallet with email authentication, designed for anyone from the absolute beginner to the DeFi degens. It brings a number of innovative features like automatic gas management, paying network fees in stablecoins, hardware wallet support and displaying transaction info in a human readable way for increased user protection.

Q2: Why should people choose Ambire Wallet over the other wallets on the field?

Georgi: Most of all - because if you love crypto and DeFi, there is no better way to utilize your belongings and get the best UI/UX while doing so. But if we are to be more specific:

-User Rewards incentive - you get this only for holding your tokens in Ambire Wallet, no other requirements, recommended minimum is $1000 but even with less you will be part of it. You get your airdrop in WALLET tokens and you can withdraw your funds anytime you want. Currently sitting at around 12% APY and again, no bonding requirements.

-Quick and fast email/password registration, no seed phrases or private keys, register for a few seconds safe and easy and jump in the DeFi world.

-Pay the network transaction fees in other tokens, not just native tokens. Super useful if you hold stable coins, for example, or if you want to pay in WALLET tokens.

-Human-readable transaction visualization - never make the mistake of signing the wrong transaction and get hijacked anymore.

Q3: Could you introduce the concept to us?

Georgi: I would love to actually! It is a great step ahead in adopting crypto wallets for everyone.

Ambire implements traditional authentication with an email and a password like traditional web2 apps. This authentication mode is completely non-custodial. It is an absolute innovation because it offers a great balance between security and ease of use.

It works by leveraging smart contract wallet technology, and using two separate keys, one associated with the email address and the other encrypted with the password. That way, if one key is compromised, you’re still safe.

Q4: Ambire Wallet’s token is called WALLET and was recently listed on Gate.io. Can you tell us a few words about its use case?

Georgi: Yeah, the WALLET token is already live on Gate.io for a few weeks with an USDT pair, so if anyone hasn’t started trading it yet they should hurry up.

WALLET is an unique addition to our eco as it’s the first governance token for a mass-consumer wallet.
This allows many unique use cases:

-Voting for future developments and putting up proposals.
-Incentivizing usage: User Rewards for holding tokens in Ambire Wallet.
-Referral bonuses, gas rebates and other incentive mechanisms.

In short, WALLET is a governance token, it will control the WalletDAO and determine the future of the product, but also a great growth mechanism for Ambire.

Q5: What should we expect from Ambire Wallet by the end of 2022?

Georgi: We are strictly following our roadmap. This being said:
-Very soon the mobile application for Ambire Wallet will be available in Google Play and Apple Store and will mark another step in bringing the smart-wallet technology closer to everyone.

-We plan to release our Debit Card this year. The card owners will be able to withdraw funds from their wallet at an ATM or POS terminal, without having to go through a third-party.

-The WALLET DAO will add another use case for our $WALLET token, allowing governance for its holders and other perks, which we will announce on the go.

-More features that will help our users Maximize the profits they make from their crypto.

And just so that i don’t forget, we are soon implementing a very nice NFT surprise too!

You can follow us in DIscord and stay up-to-date with all the progress we make:
https://discord.gg/erA5Z3PU