C-Wallet Operational Transition to OccamFi
Continuing its mission to become “DeFi In Your Pocket”, CardWallet recently rebranded to C-Wallet.
C-Wallet’s team set out to conquer the roadmap presented in August 2021. The first mission was our MVP launch, followed by the first phase of development.
We are proud to say we have delivered on this first phase without any slip in the roadmap.
During this time, as the community witnessed, several strategic partnerships were forged with several top projects in the Cardano ecosystem. The intention, of course, to bring in their products natively in-app.
Our partners, on their side, are dependent on Cardano’s protocol. The Alonzo hard-fork gave us Smart Contract capabilities, however, concurrency and other scaling issues slowed everyone down on development and delivery. Hence, it slowed down C-Wallet’s ability to keep on adding features and functionalities almost to a halt.
For example, these issues drove all DEXs to compete in finding L2 or centralized solutions to be able to go to market as soon as possible, sacrificing their original design logic and perhaps user experience.
C-Wallet is forced to do the same and not sit idly waiting for Cardano’s protocol to mature so our partners can deploy their original vision, and enable us to bring in a quality DeFi user experience in-app. Our mission is to simplify DeFi, not make it more cumbersome.
Our initial plan was to activate Cardano DeFi, and then extend it to other chains. We will reshuffle our priorities and start enabling other chains first and loop back to Cardano at a later stage. We are already in conversations with several top protocols to begin integrations in the near future.
This also means C-Wallet’s team must restructure internally. Adding new chains means learning several codebases, protocols, and increasing backend requirements considerably, and providing maintenance.
In order to best make use of our funds, instead of hiring, onboarding, and training a slew of new developers, C-Wallet’s parent company OccamFi will absorb the operational side. The OccamFi team is far better equipped for such an increase in the development and operations demand.
This results in a side effect that works very much in favor of the C-Wallet community.
Effective March 31st, my role as CEO becomes redundant. I will transition into an Advisory position for C-Wallet, and continue to actively contribute to its long-term success!
COO Victoria Vaughan will continue on track and ensure a smooth transition.
We still very much believe in Cardano and support its vision for the long run.
As stated above we simply cannot just take a break and wait for Cardano’s DeFi to mature. Rather, continue with our mission to offer a simple and seamless multi-chain wallet experience that caters to both the complete crypto newcomer, as well as the seasoned DeFi practitioner.
About C·Wallet
C·Wallet is a non-custodial wallet solution built for the Cardano blockchain and several other protocols, incubated by the Occam Association. With out-of-the-box support for Cardano native tokens and Visa, Mastercard, and ApplePay fiat on-ramps, C·Wallet is expected to rapidly become a major wallet provider for the entire crypto ecosystem. C·Wallet’s strategic and technical partners already include Scalable Solutions, Simplex, Occam.fi, Nodeseeds and Crypto Dorm Fund. Learn more at C·Wallet’s website.
Follow C·Wallet’s social media channels to stay up to date with the latest news:
- Twitter — https://twitter.com/CWallet_fi
- Telegram — https://t.me/cwallet_community
- Medium — https://medium.com/cwallet
- LinkedIn — https://www.linkedin.com/company/cwallet
