A new browser extension is on its way that will operate similar to Metamask, but in a cross-chain environment. A new project called XDEFI made the following tweet a few days ago:
It was suitably vague, but linked to the announcement post on Medium. Again, nothing too specific in the post, just general goals and ambitions. So far, no clues as to who is behind this project, and what it will really be all about.
But, of course there is other places to find information...
thorchain needs cross chain infra; put the word out for a team who can build the extension. initially it was called asgard chrome extension (ACE) but renamed to xdefi and now it's an autonomous project. simply incubated by tc
Link
The team fully funded the project from day 1. Cover all monthly costs. Set the product vision & direction, architecture & features. Work with the team closely; mentor & guide.
Once the team complete their raise, they'll be completely autonomous.
Link
The source of these quotes is a since deleted account in the unofficial $RUNE trading channel on telegram, but was presumably a Thorchain team member.
So, it can be assumed that XDEFI will be a browser extension, like Metamask, that will enable activity on Thorchain, and act as a cross-chain wallet for interacting with Thorchain. It appears that the Thorchain treasury funded it's development. These comments appeared in the telegram channel on September 27.
The prospects of a cross-chain, metamask style extension are fairly exciting to consider, and I for one will be looking out for their launch, which I'm guessing will be around the time of multi-chain chaosnet launch. This is my personal speculation, but considering the XDEFI project has announced its arrival, it can't be too far away. I'm looking out for any token they may issue, as I think the prospects for a multichain interface to thorchain (and likely other defi projects) is interesting and could be a huge success.
As always, not financial advice here, DYOR.
I'll leave you with a quote from their medium launch post:
With XDEFI Wallet, users can:
- Receive, send and store digital assets irrespective of their native chains
- Connect to any blockchain applications
- Swap seamlessly between protocols
- Access native DeFi features
All of this, from a single wallet — in which digital assets are safely stored and easily accessible.
And here is a link to their website which at this point still has nothing much on it but an email form to sign up for updates.
The Thorchain team has also tweeted about it, confirming their involvement and incubation of the project.
A few months the ago THORChain reached out to the community for help to build a better cross-chain chrome extension wallet focussed on Defi.
— THORChain ⚡️(ᚱ) (@thorchain_org) November 25, 2020
This is the result of months of incubation, introductions, technical advice and help.
XDEFI: The Future of DeFi is Crosschain. https://t.co/Ks3HtBpJzj
I can't wait to learn more and for the ball to get rolling on this one.
Thanks for reading,
JK.
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Considering the growth of defi tokens and the market for it, wise to enable the crosschain use in an extension to enable an easier time for those with tokens available in the extension.
Was definitely, only a matter of time and we can only hope it will be a solid project with solid team members so it stays reliable and usable.
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The team will be interesting, but they have been incubated and fully funded so far from Thorchains treasury reserve, so I'd assume they have the credentials to get this up and running.
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This is hot shit, can see why you're excited about it!
It'll be interesting to see if hardware wallets are supported (like they are on Metamask). Excellent to see this project originated in Thorchain....all this chat about Rune on LF got me interested and I have speculated on a few hundred tokens which are currently on Binance and I'd like to have them somewhere else more under my control.
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If you have a ledger, you can put the binance chain app on it and move them there. They don't show up on ledger live, but it works and you can link your ledger to either binance dex or bepswap (thorchain initial platform) to interact.
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Thanks for the tip JK, I've got a ledger and will look into this....great stuff!
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I tried looking further no information not even on chromes extension search of xDeFi, Hmm keeping an eye out for this.
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This is some amazing news. Maximalism on blockchain has not worked out well for anyone who embraced it. I expect BTC to be dethroned as the #1 Crypto and I don't expect any single cryptocurrency to become a replacement and be a "leader" in the market. We will have many winners at top and interoperability is going to be one of the most important things for the future.
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I'm looking forward to a lot more links and interoperability between chains. Need a store of value - BTC, need a smart contract platform - ETH or an alternative - Need a Social layer - HIVE, need something linking them together for swaps and liquidity - RUNE. Chains that specialize, and then work together will be key.
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Interest to read your sharing!
If it is better than Metamask, remind me please.
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I'll keep everyone updated as I learn more.
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Is there a possibility of integrating this with hive ?
Down the track, if the primary hive devs wanted it. I wouldn't expect it in the next 12 months. Wrapped tokens like WLEO, different story and quite likely within 3-6 months. Thhere could well be a wleo/rune erc20 pool on uniswap before christmas.
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This feature is actually waiting for. I hope hive and leo can make such a cool apps or wallet where we can swap to btc, ltc, dash or doge
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Leo or HIVE can connect with THORchain, so it's all possible in the future
I think in the short term, linking the wrapped tokens - WLEO and hopefully WHIVE once that project gets up and running. Eventually linking native HIVE and some token layer would be great, but I think it would require some effort from HIVE dev's to participate. HIVE is not really on Thorchain's radar for now, a few of us are working to put WLEO on their radar.
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