Biweekly Dev Update: May 22, 2024
Hey friends, and welcome back to another biweekly update. This week, I thought I’d share some sneak peaks of our long-awaited wallet SDK teased multiple times in previous updates, and what this means for our wallet app users going forward.
If you recall from last week, I mentioned that KryptoGO’s entire suite of products (KryptoGO Wallet Applications, KryptoGO Studio, and our Wallet SDK) will be designed with a focus on servicing stablecoin-based, real-world applications. For businesses, this can mean having a one-stop platform — KryptoGO Studio — to manage orders, stablecoin transactions, and customer data. For liquidity providers, this can mean having the option to open digital storefronts to buy and sell stablecoins — think web3 Shopify. However, today I want to focus mainly on the everyday consumer, and talk about the ways that these individuals interact with web3.
The perspective reader may have already noticed: KryptoGO Wallet Applications? Not just KryptoGO Wallet? That’s right, we’ve expanded our services to also help other businesses and institutions formulaically set up and launch their own web3 wallet app, with our domain expertise and mature tech stack that has been proven to work.
Wallet applications are meant to serve at the application level, that is, the front-end, or gateway, for users to interact with web3. This means our vision stays the same — KryptoGO wallet applications should allow users to unlock a world of possibilities within web3, allowing them to:
- Effortlessly acquire, manage, and invest in cryptocurrency.
- Oversee their crypto portfolios, including tokens, NFTs, and DeFi positions, with the ease and familiarity of managing finances in a banking app.
- Acquire cryptocurrency through fiat purchases or over-the counter trading with off-exchange liquidity providers
- Explore investment opportunities such as swapping, staking, and airdrops.
The only difference is, KryptoGO Wallet will become the official app that focuses on our stablecoin vision (video linked below, for those who missed it), while also showcasing our wallet app as an effective and efficient product for companies looking to enter web3 with a similar app of their own.
While KryptoGO Wallet will be one app out of many in KryptoGO Wallet Applications, KryptoGO Wallet Applications refer to all apps built on top of KryptoGO’s wallet infrastructure.
What are these “other apps?” They mainly take on two forms: built using our white-label wallet service, our wallet SDK, or both.
White-label wallets, as part of KryptoGO Wallet Applications
Our white-label wallet service offers a streamlined solution for businesses to launch their own app on both the App Store and the Google Play Store. Since it is built on top of KryptoGO Wallet’s codebase, every wallet app launched using this method also gets simultaneous biweekly app updates alongside KryptoGO Wallet, complete with the latest features and improvements. We are also continuously expanding the breadth of customizable visual elements and feature modules so that these wallet apps can visually represent their own brand and emphasize the features most important to their business model.
white-label wallet design guideline: click here
For instance, imagine a GameFi company looking to launch their own wallet to help their players trade game tokens and collectible NFT trading cards. Instead of hiring an entire development team to develop a wallet from scratch, which is both time-consuming and highly expensive, they can get a carbon copy of KryptoGO Wallet, rebrand it with their own theme colors, icons, and links, and voilà, done.
As an ongoing effort to increase customizability and flexibility, we are updating KryptoGO Wallet’s Home screen in a way such that features are modularized into independent blocks that can be freely reordered based on its perceived importance under that company’s business model. KryptoGO Wallet, for example, with an emphasis put on stablecoin transactions, could have the following features present from on the Home screen, from top to bottom:
- Portfolio Balance: Shows the total aggregated value of all asset classes within all user wallets.
- Action Buttons: Receive, send, and swap, and buy cryptocurrency.
- My Wallets: A place to manage all wallet groups, imported wallets, and observer wallets.
- Quick Send: Send cryptocurrency to contacts that you’ve recently transacted with.
- Recent Activities: A list of the most recent wallet transactions.
Businesses that build their wallet app using our white-label solution can move features around the main screen as they see fit. The most important features can be moved to the top where it is the most prominent. Back to the above example of the GameFi company, they might want features listed in this order instead:
- NFT Collection: Shows a grid view of in-game assets that the player owns.
- Action Buttons: Trade game tokens, list NFT collectible cards for sale, and chat with contacts.
- Close friends: A list of contacts most frequently interacted with.
By redesigning the Home screen, we open up vast potential for businesses of all sorts to tailor a wallet app for their business purposes, and with an ever-increasing amount of successful customer case studies, all these different wallets backed by KryptoGO Wallet architecture will fall under the umbrella term KryptoGO Wallet Applications, offering a multitude of frontends that service everyday consumers and their many different needs to interact with web3.
Wallet SDK, for more highly-coupled and integrated scenarios
Though serving a similar purpose with modularized feature blocks found in our white-label wallet solution, our wallet SDK provides packaged wallet functionality that other developers can utilize in their own app and web platforms.
One of the primary benefits of using our Wallet SDK is the abstraction of complex functionalities. Each SDK is designed to handle specific tasks efficiently, and other developers and businesses can utilize these SDKs to incorporate similar functionalities into their own applications. This approach largely reduces development time and costs, and developers can focus on delivering a seamless user experience without getting bogged down by the intricacies of web3 financial protocols and security measures, which KryptoGO handles for you. This modular approach also means that any improvements or updates to the SDKs can be swiftly incorporated into the apps that utilize them, ensuring they remains up-to-date with the latest technological advancements and security standards.
KryptoGO Wallet will also be updated to use our own SDKs for major features like sending, receiving , and swapping crypto. The interface may look similar to what we had before, but this approach inherently promotes greater scalability and flexibility.
Here are the SDKs for a few major features that have already been implemented.
We’ll be expanding other major features into our Wallet SDK in the coming months.
