Update from the CEO
Dear Community,
I’ve been relatively quiet over the last six months because Thorwallet was under attack. A team very close to Thorwallet intended to launch a 1:1 copy. The team had intimate insights into everything related to Thorwallet. Unsurprisingly, the copycat intended to be a non-custodial DeFi wallet with a VISA card offering, swapping, lending & borrowing, and everything else that contributed to our success. While I don’t fear competition and am considering going open-source soon, I had to respond to the unfriendly behavior of a close team. During their pitches for funding, the team gave potential investors the impression that they were the team behind Thorwallet. This raised some questions, and given my connections in the crypto space due to the various positions I hold, it was no surprise that I was informed about it within days. I assembled a killer team to address the situation. It took 5 months, but it is solved now.
JPTHOR — Founder of Thorchain invests in the vision of THORWallet
JPTHOR, aka LEENA, was an early investor and believer in Thorwallet. But in 2024, things changed when, during his visit to Zurich, Switzerland, he doubled down with a $2M $TGT investment after fully immersing himself in Thorwallet’s vision to onboard the next 100M users to DeFi. The moment it clicked was when I paid for lunch with my Thorwallet VISA card, which I had topped up with native USDC.
“You are like Crypto.com!?”
“Yes, just better. We are non-custodial. And we have lending too.”
“You are the DeFi version of Crypto.com. All you need is to iron out the last bugs and marketing.”
“Yes, that’s correct.”
“I think I’m underexposed to $TGT.”
Within 24 hours, we closed the deal that included a $1M $TGT OTC investment and an obligation to buy $1M worth of $TGT on the open market over the next six months. Yes — in the open market. This guy is solid. The deal also included an agreement that I could become the first investor (I’m an active investor who supports wherever possible) in Vultisig — a product he showcased to me, and I immediately understood its importance for Thorwallet and the space. The tech is brilliant, and the problem it solves is real. JP does not need equity investors, nor does he need another token. He can self-fund everything. Well, lucky for me (and us), we were both keen on closing the deal and now we have $VULT.
Another important factor in doubling down with JP is his sheer will and determination. He explained that he wanted to get back into the arena and get his hands dirty. He identified that what Thorwallet (V3, that is) needs is marketing, and that is one aspect he will support us extensively with over the next few years through all his socials. We also agreed that during his upcoming exploratory trip, where he will be flying from pole to pole, the secondary helicopter (the Dash two, the one that will be filming the main helicopter) will be fully Thorwallet-branded. How freaking cool is that? This latest expedition comprises a 30,000 nm, six-month journey around the world via both the North and South Poles, and the Thorwallet-branded helicopter will be visible on seven continents and in 50 countries. JP plans to capture this exciting journey in a Netflix docu-series, and I intend to join him for at least one leg of his 50-country trip.
Absolutely, we want a unicorn builder with JP’s proven track record and integrity on our team. We are meeting regularly to discuss product, strategy, and the roadmap. Welcome aboard! You’ve earned your co-founder level.
Introducing the All-New Thorwallet Mobile App: Rebuilt from the Ground Up
Thorwallet began as a blank slate in January 2021. We launched a minimum viable product (MVP) in September 2021, and officially launched alongside $TGT in December 2021. A year later, we began working on V2, which featured a new frontend and some UI/UX improvements. However, under the hood, it was still the original version. Eventually, we hit the limits of its capabilities, especially on older mobile phones, which struggled with the CPU-intensive architecture. Version 3 is a complete overhaul. We incorporated all our learnings, JP’s feedback and rebuilt the mobile app from scratch, leaving no stone unturned. The result is a blazing-fast, state-of-the-art Web3 neo-bank app. Our goal is clear: to onboard the next 100 million users to DeFi and provide all the essential services, including an unparalleled Crypto <> FIAT gateway. It’s our best product so far and we will launch is later this year.
Truly independent banking is Mine.
Let me introduce you my new project. Mine Wallet.
Mine Wallet gives you full control over your finances. Buy and exchange cryptocurrencies or pay, invest and save. Everything on a single platform and yet completely decentralized — without a bank and without borders.
Independence is Mine.
Banking without borders, politics, or banks — that’s what true DeFi means to us. Mine Wallet grants you the key to independent banking. Your money is truly autonomous and yet globally connected.
Security is Mine.
Our Swiss-based engineering team combines Swiss quality philosophy with cutting-edge blockchain technology and crypto expertise, ensuring your finances are always secure and remain under your control.
The Future is Mine.
Pay, exchange, invest or save on one platform: across all cryptocurrencies and assets. Because no matter what the future holds: with our approach, your money will continue to do the right thing for you.
You might wonder why we need a new wallet. It’s very simple: to onboard 100 million users to Decentralized Finance, we need a beginner-friendly DeFi app. Mine is this beginner wallet. Eventually, users of Mine will progress to becoming Thorwallet users, which caters to the DeFi degens, the experienced pro users.
Thorwallet’s focus is purely on crypto, catering to users who already embrace the crypto lifestyle. Mine, on the other hand, focuses on FIAT, aiming to onboard FIAT users into the crypto world.
Mine behaves like a CeFi app. The tokens and chains available are pre-selected. It is gasless. Because, what is gas? The Fiat <> Crypto gateway is the centrepiece. We make DeFi fun to use. After a year or two, users will want to upgrade to the app with less restriction, the degen world of Thorwallet.
Mine does not have its own token because it doesn’t need one — that’s reserved for the degen world of Thorwallet. However, Mine Wallet will utilize the node infrastructure of the Thorwallet ecosystem. In return, 20% of the fees generated by Mine will go to the $TGT staking pool, increasing the real yield of $USDC cashback. In fact, Thorwallet is opening its infrastructure to any other wallet that wants to enter the Thorchain cross-chain world, in exchange for 20% real yield to $TGT.
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