TanglePay Joins the Touchpoint Open Builders Program

Touchpoint Aug 31, 2022

Providing an All-In-One Wallet for the IOTA Ecosystem

We are excited to welcome TanglePay, the first project in the Touchpoint Open Builders Program that is dedicated to building a wallet for all tokens and digital assets within the IOTA ecosystem. Find out how the wallet by the community open source project differs from the IOTA Foundation's own Firefly wallet!

Everyone in crypto knows the dilemma: you need a separate app for every token, exchange, or financial institution you use! Heck, even your pets have their dedicated app on your smartphone – thanks, 2022! At TanglePay, we’re on a mission to counteract this flood of apps by providing the IOTA ecosystem with one wallet to rule them all!

TanglePay will support the IOTA, Shimmer, and Assembly tokens. It will also be compatible with the ShimmerEVM, the upcoming Assembly network, and other EVM chains.

A self-custody wallet like TanglePay is the key ingredient to every successfully growing ecosystem. Depending on the purpose of use, the desired functions of crypto wallets differ tremendously: our wallet features a wealth of functions, which will include fiat gateways, dApps, and assets on multiple chains.

Five thousand users already use TanglePay, and with the upcoming launch of the ShimmerEVM chain, we expect this number to explode. TanglePay will be the first wallet that can be used via WebExtension to log in to the myriad of Shimmer dApps. To help the accessibility and acceptance of crypto and DeFi in general, we’re making every effort to ensure that the user experience leaves nothing to be desired.

Our team consists of several crypto and DeFi veterans. Garrett Jin, one of our co-founders, has worked for major crypto exchanges since 2014 and co-founded BitForex, a leading crypto exchange in Asia. Our team has the necessary experience in building wallets, exchanges, and dApps – and we’ve always considered security as the centerpiece of our applications. Thanks to our presence, resources, and strong community in Asia, we’ll also act as an ambassador for IOTA and drive local adoption.

TanglePay was launched last October. Since then, IOTA token holders have been able to use our app to manage their token holdings. And we’re convinced that we will soon see a real boom! In fact, TanglePay will support assets and tokens on Shimmer from Day 1. Our goal is to build the most comprehensive wallet in the IOTA ecosystem and gain the trust of the IOTA community in our product.”

As stated above, TanglePay is already available to IOTA token holders since last year, and we welcome it as a new entry point to the Shimmer ecosystem. You can follow TanglePay on Twitter and download it via its website.

About Touchpoint

TanglePay joins the Touchpoint Open Builders Program, offering participants a community of like-minded builders, direct access to funding, experts, knowledge, and general support to launch and scale the next generation of decentralized applications and infrastructure on the Assembly and Shimmer networks. You can learn more about how Touchpoint works and how to become a part of it here.

About Shimmer

Shimmer is an L1 innovation network providing the core building blocks for a scalable, modular multi-chain architecture. Similar to the IOTA network, Shimmer is built on a UTXO-based parallelized, directed acyclic graph (DAG),  guaranteeing higher scalability than conventional Blockchains. At the same time, Shimmer ensures interoperability and composability of L2 smart contract chains, capable of connecting any type of L2 smart contract chain anchored to it. With its unique tokenization framework, Shimmer will become a multi-asset ledger for feeless minting and transfer of native assets without middlemen or crippling gas fees.

The native token of Shimmer is SMR, which serves as the network’s economic backbone, facilitating value transactions and interactions within the Shimmer ecosystem. Shimmer users use the SMR token to launch new DeFi applications, DEXs, NFTs, DAOs, and other dApps.

About Assembly

Assembly is a scalable multi-chain network for sharded, composable smart contracts. It will deliver flexibility, scalability, and interoperability, and is a smart contract network for mainstream innovation and mass adoption. It does so by offering inexpensive, fast, and secure smart contracts, trustless and feeless smart contract interoperability, full customization and composability of dApps, compatibility with Ethereum virtual machine, and other benefits. In Assembly, anyone can launch their own smart contract chains with the flexibility to customize fee and incentive structures. The chains are overseen by permissionless and decentral dynamic validator committees of nodes that execute and validate smart contracts; these validators are assigned to their chains by a root chain through a marketplace, and the validators are rewarded with the network’s native token, ASMB.

Disclaimer

Every project that participates in Touchpoint is given the opportunity to introduce itself in its own words. Statements made by projects are not verified by Touchpoint, Assembly, Shimmer, or the IOTA Foundation and should not be taken as an endorsement. Individuals are advised to always conduct their own due diligence when engaging with any crypto projects.


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