This DeFi founder explains why all users need a multi-chain wallet
CryptoSlate recently had the opportunity to chat with Emile, the co-founder and CEO of multi-chain DeFi wallet XDEFI.
XDEFI Wallet’s Chrome extension is engineered to deliver the fastest possible experience for DeFi and NFTs. Unlike its competitors, it achieves this through native integrations with nine blockchains, proprietary gas pricing algorithms to ensure users never miss a block, and by automatically adding new token contracts to users’ wallets.
Émile was in traditional finance working for Bloomberg and Reuters before moving into tech. He launched XDEFI Wallet with co-founder David in August 2020 whom he met after being hired by BCG to participate in the launch of Blockchain ventures for the De Beers group. Since then, XDEFI Wallet has grown from a team of four to around 35 and has a user base of over 70k.
What is the professional background of the XDEFI founders and what is their previous experience in crypto or DeFi?
Our team has talents who were previously at Bloomberg, Consensys, B2C2, and Boston Consulting Group. Our team members have worked across the board in Blockchain, having experience in onramp/offramp solutions, as well as the development of decentralised applications themselves.
What problem is XDEFI solving? Why do DeFi users need a multichain wallet?
XDEFI Wallet Wallet is built to address a gap in the market for a fast and powerful cross-chain DeFi wallet. We were motivated as DeFi users who wanted to build a better product for people like us. Compared to our competitors, XDEFI Wallet has superior cross-chain support, offering native integration with nine chains including THORChain, Terra, Ethereum, and most EVM Networks. We are planning to add Avalanche, Arbitrum, and Solana soon.
DeFi users need multichain wallets because DeFi opportunities are no longer limited to Ethereum and are becoming increasingly common across multiple chains.
How many people are working on XDEFI and where is the team located?
We are a remote team of around 30 individuals based around the world.
Does XDEFI have any notable partnerships?
While we don’t have any formal partners, we are closely linked with the THORChain and Terra ecosystems.
Which types of DeFi users would benefit from using the XDEFI wallet?
XDEFI Wallet is built with DeFi and NFT users in mind. For DeFi, this includes users who are new to DeFi, who will benefit from the easy-to-use wallet interface and be incentivized to learn more about DeFi with our future Play-to-(L)earn features. However, apes and degens will benefit from power features like our Ape Mode and advanced settings. Similarly, we offer the best display options for NFT collectors and traders.
What is the biggest pain point for DeFi users who are managing multiple DeFi wallets across multiple chains?
We believe the biggest pain point for DeFi users is swapping between multiple DeFi wallets across multiple chains. A fast and secure multichain wallet allows users the convenience of one wallet without sacrificing opportunities on any chain.
Where do you see the XDEFI ecosystem over the next few years? What will be the major milestones?
In the future, we see XDEFI Wallet as being the center of a larger XDEFI suite that will encompass a mobile app, web app, and cross-chain API.
What is the utility of the XDEFI token?
$XDEFI token was designed with the help of Delphi Digital. It has four main utilities: staking, governance, building, and play to (l)earn.
Token holders will be able to stake their tokens in order to receive rebates, claim rewards and participate in the future governance of the XDEFI Wallet.
Community members will be incentivized to learn how best to use the tools necessary to unlock the full potential of DeFi.
What can you tell us about the XDEFI product roadmap?
Our short term product priorities include plans to:
- Deepen our existing integrations with LUNA, RUNE and our 7 other supported chains
- Integrate SOL, AVAX and FTM
- Launch the XDEFI Wallet Firefox extension, mobile app, web app and cross-chain API
- Launch a multichain DEX aggregator within the wallet.
What is the best way for those interested to learn more about XDEFI?
Stay up-to-date with all the XDEFI Wallet news by joining our Discord and following us on Twitter and Medium.