We hosted an AMA on Twitter Spaces with Alex, Iman, Martin, and Philip! During the AMA, we answered some of the most popular questions submitted by the community. We enjoyed answering your questions and want to thank everyone who participated. In case you missed it, here’s a recap of what was said!
Will the team continue adding features to the wallet before launch?
For now, we are 100% focused on preparing for a smooth mainnet launch. We want to deliver the launch as quickly as possible and guarantee the safety of the code. Adding additional features before the launch would introduce more complexity that requires further auditing. For this reason, we plan to audit Blank Wallet’s existing code and introduce features such as hardware wallet and mobile support after the mainnet launch.
Have you been in contact with additional auditing firms?
As many of you know, it’s difficult to get an audit in such a short timeframe. However, we’ve been in contact with several firms and are signing a contract with a top auditing firm. Once everything is set in stone, we’ll have an announcement regarding this audit. In general, it’s important to understand that we’ll be doing everything to prepare for the launch before the second audit, as outlined in our 3 phase release plan. Audits will happen beyond the mainnet launch and are just a piece of how we plan to secure the wallet as much as possible.
What happens if bad actors use Blank Wallet for nefarious purposes?
We came up with the idea for Blank Wallet when we realized that the average DeFi user faces a lot of friction when trying to access privacy. Existing privacy solutions are often cumbersome for the average user, yet have been readily available for those that are willing to use them. Blank Wallet targets the average DeFi user that is not as heavily incentivized to deal with friction as bad actors are. Our position is that bad actors already have the necessary tools for privacy, and Blank Wallet will not change that.
In addition, we feel that the future of privacy should allow for compliance. Regulations have slowly been creeping up in 2021, and look more and more likely. For this reason, Blank Wallet will launch with a compliance tool that allows you to provide a report of your transaction history to stay compliant with regulations. The most important thing is that on a blockchain level, this information remains private, yet the user has the freedom to choose how it is used.
I know the wallet’s main focus is privacy, but do you have any plans for NFT support?
Our goal with Blank Wallet is to make privacy accessible for everyone. This means that widespread adoption is a crucial part of realizing our full potential. Right now we’re laying down solid foundations and catching up to the current industry standard, but for us to fully achieve our vision, we need features that go beyond privacy. With the explosion in the popularity of NFTs, we will inevitably support them in the future. Our initial userbase is privacy-focused individuals, but once we’ve set a good standard there’s no doubt that there are other directions we want to expand into.
What’s your marketing plan?
Our current marketing plan is to run as many experiments as possible before the mainnet launch. The idea behind this is to see what works so that we can go flat out with marketing once we have a fully operational product. We are particularly interested in what can drive wallet installs rather than temporary token price pumps. Blank Wallet is here for the long-term, so we’re laying down solid fundamentals and focusing on sustainable marketing. We’re in this for the long haul and have a marketing budget that makes us think in terms of years, not months. Some of you may have seen our job listing for a Chief Marketing Officer, so we’re looking forward to ramping our marketing efforts. In the future, you can expect content from YouTube influencers, banner ads, text ads, and more!
What’s the planned utility for the $BLANK token?
We outlined five core token features that bring day 1 utility to wallet users:
- Fee reductions for token holders
- Token burn from 50% of fees
- Liquidity providers earn 50% of fees
- Referral programs using only $BLANK tokens
- Exclusive features and access-first functionality.
In addition, we’re always looking to increase token utility. We have a lot of ideas that are in the research stage and it’s in our best interest to ensure the token has a place in the wallet ecosystem. We’re currently investigating token governance, built-in swap integrations, staking, and more. There are a lot of things in the pipeline, however, we don’t want to tease too much until everything is decided!
When will the mainnet launch be?
The nature of development makes it hard to give a specific date. There are simply too many variables that can influence the mainnet launch timeframe. We want to avoid delays and promises so that we have the best wallet possible for the mainnet launch. This isn’t to say that we don’t have internal targets and deadlines. We are all working very hard to get the wallet out and will communicate to the community as certain checkpoints are reached. Mainnet beta testing will start very soon with a small group of people that will slowly expand. We’ll announce the public mainnet launch date as come closer to the end of our release plan.
Do you have any plans to support other chains?
We’re in an exciting time right now, with many layer 2 solutions and standalone blockchains gaining in popularity. As for our product, we’d love to support as many chains as possible in the future. It’d be great to be able to seamlessly use Blank Wallet across multiple blockchains, and it’s something we will investigate as we progress further down our roadmap. As far as the token is concerned, cross-chain bridges have proven themselves in recent weeks to be points of weakness concerning hacks. We’ll look into cross-chain token support again once these bridges are more secure.
When will built-in swaps be functional with Blank Wallet?
We’ve already started working on built-in wallet swaps and we have some good progress so far. They won’t be available for the mainnet launch, as we’re focusing on ironing out the wallet’s basic functionality. Once we’re happy with the wallet’s basic features, we’ll start introducing additional features such as built-in wallet swaps. This information will become clearer as we finish our mainnet release plan and open up our codebase.
If the wallet is a combination of MetaMask and Tornado Cash, why is development taking so long? Isn’t that existing code?
It’s important to make it clear that when we speak about Blank Wallet as a merge of MetaMask and Tornado Cash, it is from a purely conceptual perspective. We aim to give the user something that resembles a combination of these two projects, yet from a technical perspective, this is not the case. Blank Wallet is not simply forking MetaMask and adding Tornado Cash functionality. We make use of existing security-sensitive libraries but write all of our code from scratch. The main thing to understand is that we are not merging existing code and are progressing well in a project built from the ground up.
About Blank Wallet
Blank Wallet is the most private, non-custodial crypto wallet.
Blank Wallet is the ultimate browser extension wallet for full financial privacy, without compromise. Unlock the full potential of Web 3.0 with privacy-enhancing smart contracts at your fingertips.
As crypto sees further adoption, on-chain privacy is quickly becoming a sought-after commodity. For newcomers and enthusiasts alike, blockchain’s lack of privacy poses a real security risk that stems the growth of cryptocurrency. Blank Wallet eliminates the friction faced by millions of users by making privacy accessible for everyone, everywhere.
The wallet uses battle-tested privacy-enhancing technology to protect your financial data. Cryptographic proofs allow users to deposit and mix their funds in a smart contract that renders them untraceable. When you want to make a withdrawal, Blank Wallet creates a fresh wallet address with no links to your history on the blockchain.
Anyone can easily install Blank Wallet and start reaping the benefits. Besides full privacy functionality, Blank Wallet comes packed with an array of features that go beyond privacy for a seamless user experience. With full Web 3.0 support, the wallet allows you to connect to any DApp and harness the power of the decentralized web.
Reclaim your financial privacy. GoBlank.