In this update, we will talk about the latest developments in regard to dua.com's upcoming wallet. What is it? When is it expected?
dua Wallet is a self-custodial wallet embedded in the dua.com application on iOS and Android. The wallet allows dua users to create a blockchain identity allowing financial transactions on-chain. By morphing dua.com from a social to a socialFi app, we get one step closer to making a real impact on the lives of millions of people.
Self-custodial means users completely own their wallets and assets. While self-management and full ownership of digital assets are advantageous, they increase users' responsibility toward their digital holdings. So, for instance, if the private key is lost, funds are lost forever with no option for recovery. But recently, a new solution has been found to the main problem of self-custody. By combining off and on-chain data, smart contracts or smart wallets like Argent or ZenGo found a way to offer users recovery alternatives.
The in-app wallet is the next milestone in our 2023 roadmap. We estimate that within Q1 of 2023, the first version (v0.1) of the dua wallet with limited features will be live for users to test. We expect to collect as much feedback as possible from our existing and new dua users who will join the testing period.
The future wallet iterations will communicate with all in-app modes (duaLove, duaBiz and duaFriends), each creating unique use cases for the $DUA token. In the beginning, the wallet will be accessed via the “Switch Mode” feature in the upper middle screen where the logo is located. From there, users can scroll through all modes and switch to the dua Wallet.
For the first iteration, there will be no changes in the current onboarding process of the app, meaning new users who join the app and create a dua profile need to self-activate their wallets, as explained above. Regarding existing users, once the wallet is live, they will be notified accordingly of what steps they need to follow to create the wallet.
To create a simple and intuitive user onboarding, we have designed a 3-step process that includes:
- Switch Mode (from duaLove to duaWallet)
- Introduction to Wallet
- Securing the Wallet via a Passcode (Activation)
2–3 weeks before release, we will launch a campaign for the community and the existing dua users who want to battle-test the wallet. We are looking for early adopters who are familiar with the realm of crypto and can provide us with feedback. A special pool of $DUA rewards will be ready for every user that is chosen between the first batch of early adopters.
This is a unique opportunity for every crypto passionate out there who wishes to experience the building of the wallet that will soon be adopted by millions of dua users. In addition, this campaign will run a few weeks before the $DUA public sale, so buckle up because your time is coming.
In the next article, we will discuss the next dua wallet iteration, where the NexeraID SDK shall be utilized, giving the user wallets superpowers. Some of them include the ability to recover your identities via the MetaNFTs, set up rules on different wallet activities, embedding compliance and much more. Stay tuned.
- Website: https://www.dua.com/token/
- Whitepaper: https://whitepaper.duatoken.io/docs/
- Telegram: https://t.me/duacomchat
- Twitter: https://twitter.com/duadotcom
About dua Foundation & dua AG
dua Foundation is a Dutch-based non-profit organization central to promoting, growing, and developing globally fragmented communities.
Its strategic and blockchain advisors include AllianceBlock Co-Founders Rachid Ajaja (CEO) and Matthijs De Vries (CTO), SEBA Crypto AG and IBM Former Executive Christen Oesterbye, dua AG Founder and CEO Valon Asani, and Entrepreneur and DeFi specialist Dite Gashi.
dua AG is a Swiss-based company in the business of online matchmaking. The company owns and manages dua.com — a community matchmaking platform for reconnecting globally fragmented communities. It also owns Spotted — a dating app that provides users to make new connections based on real-life interactions.