CVP Proposal for Ambire Wallet: A non-custodial smart wallet with exceptional UX

Ambire Wallet

Ambire is a non-custodial open-source smart wallet that sets new standards for user experience and ease of use. It is customer-centric and focused on seamless user experience, which makes it a perfect choice for both crypto veterans and people who are just making their first steps in Web3.

Website: https://www.ambire.com/

Audits: List of Ambire Wallet audit reports

Ambire Wallet Features

Ambire Wallet comes packed with the following features:

  • A dashboard that automatically displays all your assets: tokens, NFTs and deposits to DeFi protocols
  • Hardware wallet support: Trezor, Ledger and Grid+ Lattice1
  • Connecting to any dApp via WalletConnect
  • Automatic transaction fee management
  • Paying for fees in stablecoins
  • Transaction preview: before signing a transaction, we show a human-readable description of what it does, step by step
  • Built-in swaps and cross-chain transfers
  • Account recovery for email/passphrase accounts
  • Multiple EVM networks: Ethereum, Polygon, BSC, Avalanche, Metis, etc.

In addition, we offer features intended for crypto beginners:

  • Sign up with an email/password without compromising the non-custodial nature of Ambire (read on to find out how this works)
  • Deposit FIAT with credit card or bank transfer via our on-ramp partners

And some power user features:

  • Transaction batching: ability to perform multiple actions in one transaction
  • Automatic frontrunning/sandwiching protection via Flashbots
  • Multiple signers (keys) can be used to control the same account: e.g. a hardware wallet AND a software wallet; those can be easily enabled or disabled

Now available as a browser dApp, Ambire Wallet will soon be released as a mobile app too.

Learn more at https://www.ambire.com/.

Security & Audits

The Ambire Wallet smart contracts have been vigorously audited by various independent organizations like CertiK for example.

You can see all of our audit reports here: GitHub - AmbireTech/wallet: Ambire Wallet: A full featured non-custodial DeFi wallet that combines power, security and ease of use.

In addition, our smart contracts are battle-tested as they have been live since 2019.

We employ a hybrid model that allows users to select a security configuration that best suits their needs. For example, some people are more confident and will want to use a hardware wallet for everything, while others might prefer to also have a recovery option and use their smart crypto wallet with an email and password authentication.

You can learn more about our security model here: Ambire-Wallet-security.md · GitHub

The WALLET Token

The WALLET token is used for governance - we will soon establish the WalletDAO that will be able to drive the development direction of Ambire Wallet. The DAO will have a treasury managed by a delegate-controlled multisig; it will consist of the 35.5% of the total WALLET token supply allocation, as well as revenues from transaction fees collected by the Ambire.

The maximum supply of WALLET is 1 billion, distributed as follows:

  • 12.7% to the early backers with 1 year linear vesting
  • 10% to the team on a merit basis, with 3 year linear vesting
  • 10% to ADX stakers
  • 30% allocation for early users and stakers, distributed over 4 years as WALLET rewards
  • 35.5% allocation to the DAO
  • 0.6% for initial liquidity on Huobi Primelist + 1% for marketing activities + 0.2% for market making

The 30% allocation for early users and stakers is already in distribution - any user who maintains a balance of $1,000 or more in their Ambire Wallet accounts, WALLET rewards. In addition, the token can also be staked.

Currently, WALLET is available on Ethereum only but it will be bridged to other chains in the future.