Dear Ferrum Community,
We are thrilled to release the new UniFyre Wallet website and begin our pre-launch marketing campaign!
In this post, we discuss UniFyre Wallet v0.1 features, and introduce part one of our multi-pronged launch campaign.
But first, we would like to explain the overall vision for the wallet, and how UniFyre differentiates itself from a crowded market.
UniFyre: A Non-Custodial Wallet For All
First and foremost, we wanted to build a mobile non-custodial wallet that solves real world problems and appeals to a wide range of users.
One of the most significant problems with non-custodial wallets is that a majority of people will never be comfortable being their own last resort in the event something goes wrong. With a non-custodial wallet, if you lose your phone, lose your seed phrase, or mismanage your private keys — you can lose your money forever.
The majority of us are not used to being 100% responsible for our money. The fear of making a mistake, combined with the relatively advanced complexity of private key management, is one reason non-custodial wallets have remained niche compared to custodial wallets.
But what if we could offer the privacy and security of a non-custodial wallet, but the peace of mind of a custodial wallet? And what if it offered comparable features to custodial wallets, like the ability to buy and sell crypto with fiat…
And what if, on top of all of that, it featured groundbreaking technology that will allow you to send crypto to anyone, over any medium, without the hassle of wallet addresses? And what if it empowered the community to decide what features and tokens to add next?
Enter UniFyre Wallet — redefining the mobile wallet experience with a community ethos, unparalleled security, and the ability to send crypto anywhere using a link.
Introducing Link Drop Technology
A massive pain point for the average person getting into crypto is the notion of wallet addresses. Sending money to random string of letters and numbers, without being able to identify the owner of that address, and without the possibility of rolling back the transaction, is too risky, complicated and anxiety-provoking for the average person.
Raise your hand if you ever sat behind your computer freaking out that you sent crypto to the wrong person!?
But what if you could send crypto to anyone just by sending them a link over Telegram, e-mail, Facebook, What’s App, or any other messenger app? And what if you could eliminate the possibility of sending money to the wrong person with a simple security protocol?
With Link Drops, you can send crypto to anyone, over any medium, without knowing their wallet address. In fact, they don’t even need a wallet begin with! You can send money to people who are completely unfamiliar with cryptocurrencies and they’ll have money in their brand new UniFyre Wallet in a few seconds.
How do Link Drops work? Just generate the link using your UniFyre Wallet, input the amount of crypto to send, and send the link to anyone over any messenger app! Need to ensure its going to the right person? Encode a “secret” that only you and the receipt know, and you’re guaranteed not to send money to the wrong person!
We will release an article detailing technology behind this breakthrough, but here is the bottom line: with UniFyre Wallet, sending cryptocurrency is as easy as sending a text message.
Unparalleled Private Key Security
Another major pain point for the average person is that non-custodial wallets provide no back up if something goes wrong. Get hacked, lose your seed phrase, lose your phone, etc. and your money is gone forever. As an industry, we cannot expect most people to be comfortable taking on that much risk.
But what if there were a halfway point between the privacy of a non-custodial wallet and the peace of mind of a custodial wallet? Now there is, with UniFyre Wallet private key back up security.
Here’s how it works. The user completely controls the private key, but the key is not completely on the device. A part of it is on the UniFyre server, but it is not accessible to anyone except the user. At no point does Ferrum Network, nor anyone else, have access to any of your private key information.
How does this help? If someone hacks your phone and takes out the chip, they still cannot access your money. The hacker would need to ask the UniFyre server to unlock the key, which something only the user can do. This means your money is safe from hackers.
Second, there is a double cloud back up system available for users, for easy, yet secure key back up. Part of the key on Unifyre, another on Google server. A hacker needs both, and neither Ferrum nor Google has access to anything. This means that your key is backed up in case you lose your seed phrase.
For the technically minded among us, a full article explaining the technology behind UniFyre’s security measures will be released shortly.
Other Features: Buy Crypto with Fiat, In-App Staking and More!
In addition to the aforementioned innovations, UniFyre Wallet will offer the ability to buy crypto with credit or debit card for low fees, and with many different fiat currencies (as they are rolled out). We will even offer cash back for FRM holders!
In later versions of the wallet, we will add in-app staking of any ERC-20 token based on our previously launched smart contract staking. Our goal is that every UniFyre Wallet listing will include the option to stake those tokens, including tokens that were previously unstakeable!
A Community Driven Ethos
A wallet is more than the sum of its features. What makes a wallet unique? Why should anyone switch from their current preferred wallet? These were some of the questions we were wrestling with when discussing the overall vision for the UniFyre Wallet.
After some thought, we realized the answer was right in front of us. The most unique and valuable thing about any Ferrum Network product is our community! Realizing this, we wanted to build a wallet that thrived off of that strength and rewarded our community for sticking with us for nearly 2 years.
What does this mean in practical terms? It means we have developed a system that rewards users for holding FRM in the UniFyre Wallet and empowers them with certain rights and privileges.
More details will be announced soon, but for now it’s enough to understand that holding FRM in your UniFyre Wallet will entitle you to Link Drop rewards of FRM and other listed tokens, the right to nominate and vote on projects for listing, referral bonuses, cash back on crypto purchases, and much more!
Part I of the Pre-Launch Campaign
For those who have been following us for a long time and are excited to try this wallet, we want to give something back…
For the first 500 people to sign up for the waitlist, we will Link Drop 50 FRM right to your e-mail address!
So don’t delay — sign up here today!
Over the coming weeks, you will see more marketing campaigns surrounding the wallet and more information on the product itself. Furthermore, our dev team, along with our 25 private testers, are hard at work building and testing the wallet to launch it as soon as possible.
A Final Word on UniFyre v0.1
As proud as we are of this version of the wallet, it is critical to note that this is version 0.1 — a minimal viable product. A decade plus in the tech industry has taught us that it is always better to launch as soon as possible, and then improve the product based on user feedback, rather than wait and wait to launch the “perfect” product.
This means that YOU — the user — will have every opportunity to help shape the wallet as we push out subsequent versions with new features and improvements. Want to see a particular feature in version 0.2? You have the power to influence those features. That’s what it means to be “community driven”.
At Ferrum, we are always thinking about 2, 3, and 4 years into the future. We believe UniFyre Wallet reflects that approach with useful features and a community focus.
We are thrilled to be on this journey with you. Together we can bring the world of blockchain and cryptocurrencies to millions more people around the world!
Very truly yours,
The Ferrum Network Team
Ferrum Network Links:
Bitcoin Talk: http://bitcointalk.ferrum.network
Introducing the New UniFyre Wallet Website and Pre-Launch Campaign was originally published in FerrumNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.