Multi-Chain Ambire Wallet is Out of Beta, Focus on DeFi after Raising $3 Million in a Private Funding Round
The multi-chain Ambire Wallet is now ready for use after completing weeks of rigorous audits and beta testing by over 5k individual accounts.
Interoperable Ambire Wallet Released
In a press release on December 17, the Ambire Wallet development team said their primary focus lies on the multi-billion DeFi scene.
Towards that end, the wallet will initially connect to four DeFi-active blockchains of Ethereum, the Binance Smart Chain (BSC), Polygon, and Avalanche, with plans to add more networks in the days ahead.
Focus on DeFi, Different Approach
Unlike other wallets, Ambire is non-custodial. It is also the first wallet solution to eliminate the need for installing web extensions or writing down seed phrases as is the norm.
Instead, by using an email registration or connecting an existing browser or hardware wallet as a signer, the user can secure their assets without giving control to third parties.
Notably, the Ambire wallet remains non-custodial and under the user’s control. Therefore, in this arrangement, the required all-important private key will be under the user.
However, the registered email will be used to provide security as a two-factor authenticator. Once registered with Ambire Wallet, users can, as in any other wallet, send and receive crypto assets, even purchase cryptocurrencies using fiat ramps.
Interoperability and Gas Management Automation
To stand out, Ambire Wallet has introduced nifty, client-facing features. Aware that leading networks like Ethereum can struggle with congestion forcing Gas fees to astronomic levels, Ambire Wallet automates Gas management.
At the same time, to inherent lower transaction fees, the wallet introduces batch transactions and skipping protocol approvals saving clients from paying more when transacting via the wallet.
Considering the cyclic nature of blockchain and DeFi demanding the need for interoperability and collaboration, Ambire Wallet supports Ledger and Trezor hardware wallets. These two leading hardware wallets command considerable market share, allowing HODLers to store their crypto chunks safely and under their control.
Ambire Wallet Development Team Raised $3 Million, Plans for a Liquidity Mining Program
The Ambire wallet release comes after the team completed a $3 million private round sale from Ascensive Assets, LaunchHub Ventures, Metacartel Ventures, Daedalus, Zee Prime, and others Spark Digital.
Following the product’s release, the Ambire team also plans to launch a liquidity mining program. Participants will receive their WALLET token. The team has allocated 300 million WALLET for distribution to early adopters who fund their Ambire wallets in the next four years.
