Ushering in a New Chapter: Sunset of Rainbow Wallet and Rise of Enhanced Asset Management Service

Published in

IRISnet Blog

4 min readJun 13, 2024

As the cross-chain world evolves, so must the tools we use to navigate it. After thorough consideration, we have decided to decommission Rainbow Wallet to focus on developing a more comprehensive and efficient asset management tool.

This decision stems from our understanding of the industry’s needs and the rapid technological advancements within the blockchain ecosystem. By reallocating our resources, we aim to create an enhanced service with broader cross-chain capabilities, delivering a superior user experience and meeting the diverse demands of users.

What’s Next?

The official decommissioning date for Rainbow Wallet is September 30, 2024. Until then, we are committed to ensuring a smooth transition for all our users. Detailed guides are provided later in this article, to help you export your wallet and migrate to other recommended asset management tools such as Keplr, Leap Wallet, and Cosmostation as a transition.

Our community interactions won’t cease with the decommissioning of Rainbow Wallet. We will continue to engage with you through channels like Discord, remaining open to your opinions and suggestions. Your feedback is invaluable as we embark on this new journey.

Looking ahead

While Rainbow Wallet is transitioning, this marks the dawn of a new era for us. Our goal is to create a simpler, more efficient, and smarter platform that caters to a wider array of user needs. This new initiative will not only make it easier for more people to enter the blockchain world but also drive the overall development of the industry.

We are excited about the future and are confident that the new tools we are developing will exceed your expectations. We invite you to stay connected with us through our X, Discord and Telegram. We look forward to your continued support as we navigate this exciting new chapter together.

Guide for Transition and Asset Management

To ensure a smooth transition, please follow these guidelines:

1. Asset Management

1.1 Native Token: IRIS on IRISnet and ATOM on Cosmos Hub

Before Rainbow Wallet is decommissioned, you can directly transfer them to addresses you have created in other wallets (Keplr, Cosmostation, Leap Wallet).
Alternatively, follow the steps in section 2 below to migrate the wallet in Rainbow Wallet directly to other wallet software (Keplr, Cosmostation, Leap Wallet) for management.

1.2 IBC Token: IRIS on Cosmos Hub and ATOM on IRISnet

Before Rainbow Wallet is decommissioned, you can transfer them cross-chain to addresses you have created in other wallets (Keplr, Cosmostation, Leap Wallet).
Alternatively, follow the steps in section 2 below to migrate the wallet in Rainbow Wallet directly to other wallet software (Keplr, Cosmostation, Leap Wallet) for management.

1.3 BNB & BUSD

If you still have BNB and BUSD balances on the IRISnet, please transfer them to our operating address on IRISnet (iaa1junhkdhuamtdz3ah6d5mfp6w9sxmlwera7mruz) through local chain transfer. When transferring, make sure to fill in your address on the Binance Smart Chain in the memo. We will manually transfer your BNB and BUSD to your BSC address.
Note: The cross-chain fee to BSC is BNB 0.0045, BUSD 3. Requests less than this amount will not be processed, and funds will not be refunded. More details can be found in the previous guideline.

1.4 IRIS-D88

If you still have IRIS-D88 (IRIS on Binance Beacon Chain) on a Binance Chain address, please follow the Binance official instructions to convert them to IRIS on BSC, which is currently supported for deposit to Binance exchange.

2. Blockchain Wallet Migration

2.1 Migration Methods

Export Mnemonic: You can export the wallet in the Rainbow wallet and then import it into other wallet applications (Keplr, Cosmostation, Leap Wallet, Trust Wallet) to complete the migration. As other wallets do not support Keystore import or use different Keystore encryption algorithms, be sure to export and back up as a mnemonic.
Export Private Key: If your Rainbow wallet cannot export a mnemonic and can only export Keystore, please first export and back up the Keystore. Then download the latest Android version of Rainbow (https://rb-app.oss-cn-shanghai.aliyuncs.com/rainbow-latest.apk), import Keystore, and then export it in the form of a private key. This way, you can migrate it to other wallets by importing the private key.

2.2 Types of Wallets in Rainbow and Corresponding Migration Methods

ChainWallet: Export mnemonic or private key as described above.
RainbowID Wallet (Default): Export mnemonic or private key as described above.
RainbowID Wallet (Index >0): To migrate these wallets to other applications that do not support HD wallets, you can only export the private key. If importing to other applications that support HD wallets (such as Keplr), you can import them as a mnemonic and fill in the corresponding index in the advanced mode of the import interface to restore your wallet.

Note: Whether exporting mnemonic, private key, or Keystore, please keep them properly. Once lost, they cannot be recovered.