The Good Tech Companies - How XDEFI Plans to Provide the Best Wallet Experience for Web3 Users and Why It's Crucial

Episode Date: June 17, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/how-xdefi-plans-to-provide-the-best-wallet-experience-for-web3-users-and-why-its-crucial. Explore the founding story of XDEFI and their vision for Web3 with co-founder Emile Dubié. Learn about their multi-chain wallet, security measures, and future. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #defi, #xdefi, #blockchain, #dlt, #cryptocurrency, #futurism, #technology, #good-company, and more. This story was written by: @ishanpandey. Learn more about this writer by checking @ishanpandey's about page, and for more stories, please visit hackernoon.com. Emile Dubié, co-founder of XDEFI, talks to Ishan Pandey about his company and its vision. XDEFI is the first wallet that supports the most chains, with over 1,700 networks. The company's mission is to help people access more financial opportunities than they would if they kept assets off-chain.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. How XDEFI plans to provide the best wallet experience for Web3 users and why it's crucial, by Ashan Pandey. In this captivating interview, we dive deep into the world of Web3 and blockchain technology with Emile Dubier, the visionary co-founder of XDEFI. Discover the inspiring journey behind XDEFI's creation, ITS mission to revolutionize the multi-chain ecosystem, and its unique approach to navigating the competitive landscape of Web3 and blockchain interoperability. Ashan Pandey. Hello, Emil. It's a pleasure to welcome you to our Behind the Startup series. Can you tell us about the founding journey of XDEFI and what inspired you

to create XDEFI? Emile Dubier. Hello Ashan. Thank you for having me. Both my co-founder and I were early investors and community members of the THOR chain ecosystem. At that time, MetaMask was the only wallet extension available, and it was exclusively focused in Ethereum. We were convinced that the future would be multi-chain, and we decided to focused in Ethereum. We were convinced that the future would be multi-chain, and we decided to address this gap in the market. Our initial goal was to create the best wallet for users to interact with any interfaces built on top of THOR chain. This goal then evolved into providing the best wallet for anyone. Ashan Pandey. How does XDEFI plan to differentiate itself in the Web3 and

blockchain interoperability competitive landscape? Emile Dubier. As of today, we are the wallet that supports the most chains, with over 1,700 networks. We provide the best way for users to navigate from one ecosystem to another. Our swap feature supports more assets than any other wallet, and our gas tank abstracts the concept of gas, allowing users to migrate seamlessly between ecosystems without leaving the wallet or worrying about gas. We have implemented chain and account abstraction features that make the overall experience for the end users seamless when interacting with several ecosystems. Ashan Pandey. How are you navigating these challenges to ensure compliance with increasing

regulatory scrutiny on cryptocurrencies and blockchain projects? Emile Dubier. We are following closely what is happening at a regulatory level. As we are not in the custody of users' funds, we do not have the same requirements as centralized venues. We believe that self-custody is a fundamental right. Ashant Pandey. Given the rising price of Bitcoin and other cryptocurrencies, how do you see this trend affecting the adoption and development of crypto wallet platforms? Emile Dubier. We estimate there are over 500 million crypto holders globally,

but only 10% currently use a self-custody wallet. Most opportunities are now on-chain, requiring a wallet to access them. We believe that in the next 24 months, Most opportunities are now on-chain, requiring a wallet to access them. We believe that in the next 24 months, more users will install wallets for on-chain activities. In the long term, we anticipate users will interact with wallets daily without realizing it's different from the fintech apps like Revolut or N26 they use regularly. As more corporations enter the space, further adoption will drive the necessity for wallets among users. Ashan Pandey. Can you discuss XDEFI's business model and how it aims to generate revenue while providing value to its users? Emile Dubier. We generate revenue from

fees collected on swaps and bridging happening directly within the wallet. More revenue-generating features will beat it in the future. Wallets are the first interfaces users interact with when they start on-chain. We believe they will add differentiating features that are easier to use than those on ADAPT, creating new opportunities for revenue generation. Ashan Pandey How do you envision the future of Web3, and what role do you believe you can play in shaping that future? Emile Dubier

The future of Web3 lies in its potential to create a decentralized, user-controlled internet. Our mission is to help people access more attractive financial opportunities than they would if they kept their assets off-chain. Don't forget to like and share the story. Tip Vested Interest Disclosure. This author is an independent contributor publishing via our business blogging program. Hacker Noon has reviewed the report for quality, but the claims herein belong to the author. Hashtag D-Y-O-R. Thank you for listening to this Hacker Noon story, read by Artificial Intelligence.

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