Announcing | imToken 2.0

Published in

imToken

7 min readAug 1, 2018

Welcome to the stage: imToken 2.0, our new completely overhauled wallet app.

imToken 2.0 comes with support of Ethereum, all ERC20 tokens, Bitcoin Segwit and EOS as well as the EOS StakeVote DApp; with the first built-in DEX, an address book that synchronizes across multiple devices via IPFS, an updated DApp browser, and the cold wallet function for securely air-gapped access of your tokens.

To understand, where imToken 2.0 comes from, we would like to introduce a short history and then present the exciting new features.

A short history of imToken 1.0

Back in 2016, our small imToken team started with the principles we held dearly: Decentralization, permissionless, users controlled, constituted to the blueprint we crafted for our very own decentralized wallet.

After a month long of research, designs and proof-of-concept, we committed the first code on the 11th of June. A team of 4 in a 12 square meters co-working space and 5 months of sleepless nights later, the iOS beta was submitted to the appstore on the 11th of November. Friends became beta testers, we started a feedback, improve, feedback, improve loop. And finally our first Android beta version was released on the 31st of December!

In April 2017, our users surpassed 10 thousand
In February 2018, our users broke the 1 million mark
In June 2018, our users exploded past 6 millions with no signs of slowing

Currently the total number of devices with imToken installed surpassed 6 million, with a quarter growth of 300%, cumulative value of assets moved sits at US$45billion, we now supports more than 50 thousands ERC20 tokens.

The monthly active users are above 6 million, with daily active users at an average of 400 thousands. Daily transaction number is at 70 thousands, which makes up to about 10% of the total Ethereum network transactions.

imToken has grown in this past 18 months, from the stage to establishing trust with first group of users to becoming the world’s largest Ethereum wallet.

Here comes imToken 2.0

We began working on imToken 2.0 back in July 2017. Rethinking our product, based on what we collectively learned and understood about the technology over the span of time.

Redesigning our product, from App to Server, from information architecture to service framework, a complete makeover.

Satisfying the needs of our target audiences, we focused on 3 core ideas to improve imToken:

Multi-chain, you can now manage multiple blockchain wallets with only one set of digital identity.
Decentralized exchange, utilizing the permissionless blockchain smart contract to execute token to token exchange within imToken.
DApp browser, a robust portfolio of DApps with different applications, paired with better user experience. Sharing imToken’s strengths in mobile wallet and user base with developers through our open API & SDK.

We spent one year to design, develop, test, and improve imToken 2.0. 8 months of coding, 4 months of beta, a total of 12000 commits, with the support from 100 thousand beta testers. 4 rounds of security code audits done by 2 renowned auditing firms, complemented with community bug bounty program. Today, we launch imToken 2.0!

Thanks to 0x and Kyber, to make our DEX Tokenlon dream come true.
Thanks to Amber, TerminalTrade, and TokenMania for the support on market depth.
Thanks to Decentraland, HyperDragon, Delphy, AirSwap, DDEX, Joyso, Maker, Digix, Gnosis, Ethfans, Etherscan for building amazing DApp products, and working with imToken to share that with our users.

imToken 2.0’s amazing new features

Ethereum, Bitcoin Segwit, EOS

imToken has simplified transactions and wallet management by now enabling users to import cryptocurrency wallets supporting Bitcoin, Ethereum and EOS blockchains under just one mnemonic passphrase. In other words, users can manage all the wallets that specifically supported individual cryptocurrencies and tokens, under a single identity in imToken.

Built-in DEX

imToken’s own decentralized exchange, Tokenlon, now offers two unique trading functions, catering to users with different needs under different circumstances.

Instant Exchange (IEX), based on Kyber Network protocol

Kyber Network protocol will select the best exchange rate across multiple reserves within the network to ensure the best experience for speedy token-to-token conversion with fair market price. In the near future, collaboration with Polkadot, Cosmos and other cross-chain protocols will allow users to execute cross-chain transaction (not only ERC 20 tokens) seamlessly using Tokenlon’s Instant Exchange function.

2. Spot trading, order book system, based on 0x protocol

As the most popular and innovative decentralized exchange protocol, 0x has already been adopted by many renowned decentralized exchanges. Given that 0x protocol enables order sharing system between platforms, the adoption of 0x on Tokenlon would mean that there is greater market depth to fulfil orders quickly.

More importantly, Tokenlon aims support more decentralized trading protocols in the future to further improve users experience and allow seamless digital asset movement within imToken. That aside, the newly introduced liquidity offered on Tokenlon plays a part in making the technology more accessible for users, thereby encouraging mainstream adoption of the blockchain technology.

DApp browser

imToken’s DApp Browser supports the most popular DApps and decentralized exchanges, introducing an additional channel for engagement for users. At the same time, users can access multiple DApps without logging in, and execute rapid payments through a supported token of your choice.

In addition, to further support the development of the DApp infrastructure and ecosystem, imToken is announcing imToken Venture, which will invest in teams with strong technical backgrounds that are dedicated to innovative infrastructure projects and decentralized applications.

Besides a financial investment, qualified candidates will also get comprehensive support from imToken such as technical expertise and displaying their Dapps in imToken DApp browser, an immediate access to millions of users globally.

Air-gapped Cold Wallet

Offline signing eliminates the risk of private key theft over the internet. With imToken, you can use an old mobile phone as the secure storage of your private key. Smoothly broadcast transactions online using your smartphone.

To set the cold wallet up you should:

Have two phones without root access.
Download the app from token.im or your favorite app store.
Use one of the phone in Airplane mode as a cold wallet, and keep it always offline to securely save your private key.

Find out how to set it up at our help center.

IPFS-synchronized address book

Enables selective storage of your friend’s wallet addresses through convenient transactional logistics. Encrypted backup synchronization to IPFS. Instant access without third-parties stealing your data.

imToken developer API documentation

Compatible with Web3 APIs and comprehensive imToken SDK documentation. Provides extended functions such as identity interaction, token payment and distributed storage management.

Tokenlon-SDK is designed by imToken team, it based on 0x protocol and 0x.js, provides some APIs for developers to create automated tradings.

Helps decentralized application (DApp) developers using the imToken Wallet app to leverage all functions of the imToken DApp SDK.

And more

Security risk reminder on suspicious addresses
Privacy mode
Import old accounts from imToken 1 or any other wallet app
Efficiently send tokens via QR-code scanning
Easy backup: Choose between Keystore, private key, Mnemonic
Security reminder for interaction with potential fraudulent contracts/ addresses
Blacklist database of rouge addresses shared within the network

What’s next for imToken 2.0

With the roadmap presented at the imToken 2.0 launch event, we are set for a decentralized future.

Today, imToken introduces a DApp browser, alongside imToken Venture, the company’s newly announced venture arm to fund DApp development; new features in Tokenlon — imToken’s decentralized exchange. The company also announces 6 million monthly active users in 150 countries and $45 billion in pass-through transactions between January 2017 and June 2018, a yearly transaction volume that rivals Paypal’s Venmo.

“We’re excited about imToken’s new developments and believe that with a mature regulatory environment, Singapore is the ideal launchpad for us to kickstart our global ambitions,” said He Bin, imToken CEO. “With countries including Indonesia rapidly growing into one of imToken’s largest markets, we’re looking forward to building out our initiatives in Asia, particularly in Southeast Asia.”