In our newest issue of Terra’s Project Spotlight, we’re pleased to introduce Leap — a next-generation wallet for Terra that brings dApp access, staking, DeFi, NFTs, identity, social, web3 and web2 app interactions into one platform. To many LUNAtics in our community, Leap is a familiar face that we would have interacted with. You may have seen it appear in the pop-up when connecting your wallet with many popular Terra dApps including Anchor, Astroport and Stader Labs.
Leap aims not just to be a wallet, but a key to unlocking every exciting aspect of the Terraverse.
The team’s vision stems from Terra’s rapid growth in the past year and its ascension to one of the biggest ecosystems in crypto today, with close to 100 announced dApps and 80k+ new wallet addresses being created every month. Even for the most OG LUNAtics, it has become hard to keep pace with new developments and find the best opportunities to save, invest & track their assets. The team believes that Terra needs a new-age wallet that lets users access this complex and evolving universe through a simple, intuitive and feature-rich interface. Leap’s core team comprises ex-McKinsey, Facebook, Microsoft builders and engineers.
Aligned with Leap’s vision and ability to execute, Terraform Labs has provisioned the team with a grant to kickstart development.
Target User
Leap is built with every Terra user in mind — right from the beginner wanting one-click savings to the advanced LUNAtic using several complex financial products.
The team started development with the most prominent use cases targeting the median Terra user and is rapidly expanding to cover the crypto beginner and advanced users.
Product Strategy
Leap aims to deliver the best wallet experience for LUNAtics by focusing on:
- User experience — drawing inspiration from top web2 consumer apps and through deep user research, Leap wallet will offer a simple and intuitive UX delivered through a clean and well-designed UI.
- Convenience — all critical components of a user’s Terra experience will live inside the wallet, as opposed to requiring navigation between different platforms.
- Trust & security — Building a wallet with best-in-class security and protecting users from scams & phishing attacks is the team’s top priority. Leap is a non-custodial wallet, i.e. it doesn’t store user private keys and can never access user funds.
- Decentralized stablecoins as the future of money — as this vision unfolds, Leap will partner with the necessary dApps/protocols to help users best on-ramp, save, invest and spend Terra stablecoins.
- Next generation wallet features — keeping pace with cutting-edge crypto innovations, Leap will integrate NFTs, gaming, metaverse, identity, social, commerce and interactive media experiences with Leap.
- Composable & Modular architecture — the team is building Leap’s tech stack to be composable & modular, to scale & iterate faster. In the future these modular components can be extended to build adjacent products.
Product Vision
As the first order of business, Leap will make it safe and easy for users to store, send, stake, and swap tokens.
Leap may be downloaded as a Chrome Extension and the team is currently working to expand to other form factors including native iOS, Android and desktop apps, to bring Leap to users where they already are.
Popular Terra dapps such as Anchor, Astroport, Mars may be connected with Leap. The goal is to allow users to swap through Astroport, invest in Anchor, one-click stake through Stader, purchase NFTs and more — directly within the convenience of your Leap wallet. To support this, the team will build tech infrastructure that allows protocols to develop mini-apps inside the wallet.
Further, as the multi-chain vision for UST starts playing out, Leap’s team will integrate with cross-chain bridges to support the import and export of assets from Terra, as well as integrate with new multi-chain protocols that emerge.
With all these in place, Leap intends to become a critical part of the infrastructure layer of Terra.
Here are some directions in which the team intends to expand from here:
Social & Identity
Once Leap wallet has established itself as a product that users rely on daily, it can expand beyond just a transaction enablement layer into:
- Identity — build your decentralized identity on Leap with verified NFTs as profile pictures, a human-readable TNS address, Linktree style links and more.
- Decentralized social graph — build your web3 network on Leap that you own and can take with you to other applications.
- Communication & social layer — Leap itself could become one of those applications with chat, groups, followers and more embedded inside the wallet.
Gaming/Interactive Media/Metaverse
Closely tied to social and identity is the concept of building a gaming profile on Leap, complete with in-game NFT assets that you own, exchange and port across games. Similar concepts could be built for digital assets that you can move through virtual worlds designed for work and play. As play-to-earn becomes more popular, the team will build dashboards that let you easily track, convert and spend your earnings.
Terraverse as a Service
Leap aims to become a critical middleware layer that provides the rails for any application (crypto or otherwise) to access the benefits of UST and other protocols on Terra. Leap’s modularized architecture would allow us to bundle relevant wallet functionalities (e.g. deposits on Anchor) into an SDK that can be made available to other crypto protocols and web2 fintech apps.
Product Roadmap
Leap is being developed in multiple phases after the rollout of the initial MVP. The goal is to ship additional features iteratively in short cycles, to make sure that the team is always delivering value and keeping the roadmap flexible for user feedback.
Phase 0 — MVP (Completed)
Leap launched with a basic version of the product that covered the most critical wallet workflows and got them immediate feedback from users.
- Onboarding — create a new wallet or import an existing Terra wallet
- Portfolio Viewer — see total and splits across Terra-native assets
- Transfers — send and receive Terra-native assets
- Auto-lock — wallet locks after 15 minutes of non-activity as an additional security measure
- Dark mode default 😎
Phase 1 — Wallet Basics (Completed)
Rapidly bring the most-used and most-requested wallet features into Leap with a simplified and more user-centric design:
- Support for CW-20 tokens
- Address book — easily save and access frequently used addresses
- In-wallet Swaps — powered by integration with Terraswap, Astroport & Loop
- In-wallet Staking with easy access to validator metrics and visibility into rewards and airdrops
- Connect your Ledger — includes multiple wallet support
- NFT Collectibles — view NFTs inside the wallet with useful metadata around price, collection and floor prices (live in phase 3)
- Activity log — see recent transfers and swaps
Phase 2 — Traverse the Terraverse (Complete)
The team completed Phase 2 by Mar, 2022 (three months ahead of schedule) to make Leap the gateway to all major the dApps and protocols on Terra
- Protocol Integrations — Connect Leap on all important Terra protocol webapps. Access the most relevant protocols directly inside the wallet — Anchor, Stader, TNS, etc.
- Fiat on & off ramps — easy on-ramp from fiat to UST through an integration with Transak and Kado
- Staking v2 — One-click staking through Stader integration (Stake Pools, Liquid Staking, Stake+) along with Vanilla staking
- Detailed portfolio tracking — breakdowns into different asset holding, profitability, etc.
- DEX Aggregation — access the best swap rates across Astroport, Loop and Terraswap
Phase 3 — One-stop gateway to Terra (Current development phase as of writing)
- iOS and Android apps — Access Leap in the form factor that you are comfortable with
- Enhanced Activity Page — An activity log to provide readable protocol level activity
- Auto-fetch assets — Automatically fetch all the important native and custom tokens that the user owns
- DeFi opportunities in-wallet — Invest in Liquidity Pools, vaults, and other yield farming opportunities from within Leap
- NFT Gallery v2 — Easily send NFTs to another address. View important metadata around floor price, last sold price, and activity
- Cross-chain Transfers — Transfer Terra-native assets to other chains from within the wallet
- NFT Marketplace — Integrate with NFT Marketplaces to let users discover and purchase NFTs from within the wallet
Phase 4 — Mini-apps & going beyond the Terraverse (May — Dec 2022)
- Mini-apps/Marketplace of integrations — Protocols/developers can integrate their existing dApps or build new dApps that can be directly accessed within the wallet.
- Cross-chain transfers —
a. Aggregation across cross-chain bridges to offer the cheapest transfer rates
b. Integration with cross-chain yield protocols - In-wallet notifications — Modeled around EPNS, Leap plans to build a notification system for alerts on liquidation, airdrops, governance notifications, etc.
- Launchpads — invest in exciting new Terra projects from within Leap
- DeFi/Invest — To enable every yield opportunity through Leap — One place to browse through and invest in — savings (Anchor), Liquidity Pools (Astroport, Terraswap), lending & borrowing (Mars, Edge), staking (Stader), yield autocompounders (Apollo, Spectrum), yield optimizers (Nexus), Degen Vaults (Stader), single side staking of protocol tokens
- Play to Earn
- Virtual Asset Management
- Easy off-ramp from in-game tokens to fiat
- Miscellaneous
- Multisig Support
- Fiat On/Off Ramp Aggregation — Access the best ramp rates across all major On-ramp providers from inside Leap
The LEAP Token
Finally, the LEAP token is launching soon, and more details will be released in the tokenomics section of the upcoming Leap Wallet Litepaper.
Hint — LEAP token rewards will be distributed to active wallets…
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Leap’s vision and plans to improve the wallet experience on Terra is one that would benefit every LUNAtic. We are committed to supporting Leap’s development atop of Terra and give LUNAtic a wallet experience that goes beyond just supporting transactions.
Say hello to your new Terraverse passport, fellow LUNAtic.
For more information about Leap, make sure to check out their website and socials below!
Website — https://leapwallet.io/
Telegram — https://t.me/leapwallet
Discord — http://discord.gg/6CaMD28th7
Twitter — https://twitter.com/leap__terra
