Infinity Wallet - Builders - Cycle 11

ARCHIVED & OLD Missions Grants Council Cycle 10-11
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Basic Details

Project name: Infinity Wallet

Author name and forum name:
Aaron / Email - aron@infinitywallet.io / Telegram - Telegram: Contact @aron_infinity

L2 recipient address: 0x15D645E363c6A2c83Bb3c55325C1Ca9E6936492E

Which Voting Cycle are you applying for?: Cycle 11 - Builders

I confirm that I have read the landing pages for the Builders and Growth Experiments Sub-Committees and that I have determined my proposal is best suited to be reviewed by the Builders Sub-Committee: YES

Project Details

What are you building?:
Infinity Wallet is the first all-in-one non-custodial wallet ecosystem and Web3 browser of its kind on desktop (“a Wallet Super App”), launched in 2019, and supporting hundreds of thousands of users. Not a browser extension, but a complete standalone desktop application providing a one-stop solution for seamless access and usability of DeFi, NFTs and cross-border payments, with a gateway to the world of Web3/DApps via the first desktop Web3 browser and Dapp store. Fulfilling all a user’s decentralized needs in a single platform, while removing the complexities of decentralized finance and Web3, enabling economic freedom for everyone globally!

Infinity Wallet was created to finally enable mass adoption, as a single access point to the entire decentralized world. We have focused on providing the best possible user experience, to lower the barrier to entry and allow for streamlined and secure adoption of DeFi and Web3. Providing a world-class user experience with a seamless user interface, and a full spectrum of constantly growing in-wallet features and services as a one-stop hub. Making Infinity Wallet the complete solution for all crypto users’ needs, while making adoption and usage of cross-border payments, DeFi, NFTs and Web3 easier than ever before for mainstream adoption.

Infinity Wallet is not just a unique one-stop wallet built for the masses, it is also the first desktop platform to provide users with access to the entire Web3 and DApp space without needing to leave their wallet, with the first Web3 browser and DApp store on desktop as a standalone App. Finally removing the need to use unintuitive, unfriendly and feature-lacking browser extension wallets ever again! Providing a far superior, safer and more natural user experience, with a range of unique advantages for users, DApps, and chains alike, enabling easier usage and adoption.

Below are some of the many infrastructure and features/services of the Infinity Wallet:

Send USDC OP
Send USDC OP2298Ă—1201 133 KB

NFT Individual Screen
NFT Individual Screen2298Ă—1201 291 KB

For a detailed look over our many other features/services and future development roadmap please see our information deck available at https://infinitywallet.io/docs/Infinity%20Wallet%20Deck.pdf, or our docs at Features & Notable Advancements - Infinity Wallet (detailing further information on core features/services and secondary features).

We also look to launch our highly anticipated mobile release later this year on Android and iOS, a sneak peak can be found below.

Mobile Wallet
Mobile Wallet1500Ă—1030 274 KB

Why is what you are going to build going to succeed?:
We are a live and well adopted decentralized all-in-one platform, solving many issues within the space today.

We have additionally seen a high user demand through our live support, which has received many requests from Optimism users to expand Optimism support, since we integrated and built out support for Optimism at a basic level over a year ago.

Is your project likely to bring new builders to the Optimism ecosystem? If so, please describe how:
Infinity Wallet brings significant advances in the usability and awareness of Optimism and its ecosystem. This would attract new potential Optimism developers looking to provide the best experience for their project (DApps, Tokens and NFTs).

Is your project likely to improve the quality of developers in the Optimism ecosystem? If so, please describe how:
Infinity Wallet enables Optimism developers to leverage our unique functionality, for enhanced usability and awareness of their project (DApps, Tokens and NFTs). This would enable current Optimism developers to create easier to use DApps.

Is your project likely to improve the commitment of developers in the Optimism ecosystem? If so, please describe how:
Integration with the Infinity Wallet would allow Optimism developers to benefit from easier usability and a wide range of features for their projects (DApps, Tokens and NFTs), as well as ongoing discoverability and adoption, with the potential to bring them greater usage/volume/fees, incentivizing them to continue to build on Optimism.

Provide us with links to any of the following for the project:

Do you have any metrics on the project currently? (TVL, transactions, volume, unique addresses, etc. Optimism metrics preferred; please link to public sources such as Dune Analytics, etc.):

  • 46,000 MAU;
  • $600,000,000+ TVH;
  • 100,000+ users subscribed to be notified of mobile release;
  • Most used chain is ETH;

Some metrics/evidence of Infinity Wallet’s success:

Who are your competitors?:
In the crypto and non-crypto space our current competitors are far from ideal for users. We are one of very few in the space redefining the wallet experience, creating a complete one-stop DeFi and Web3 solution focused on delivering a new and enhanced experience for less tech savvy users. A few general competitors can be found below:

Partial competitors with accepted OP Proposal:

Other competitors in the space could include a range of platforms from wallets, payment apps, portfolio/DeFi dashboards, NFTs, exchanges, bridges, staking platforms and much more.

  • Metamask (in terms of Web3/DApp access)
  • Trust Wallet (in terms of mobile and Web3/DApp access)
  • Exodus (in terms of UX, as like us they are focused on end users that are less tech-savvy)

Browser-extension wallets (competitors in access to Web3 & DApps) - These generally lack accessibility/usability, limited features/services, high fees, limited chain types, lack a standalone web3 browser, no live user support, and have an overall poor user experience. They act more as an interface than a wallet, with us finding that many of our users happily moved from other browser extension-wallets to the Infinity Wallet when they learned of us;

Desktop wallets - These generally have no open access to DApps and Web3, poor user interface, high fees, lack a one-stop solution, provide few features/services, and have limited token support

What differentiates you from your competitors?:
Infinity Wallet provides a unique wallet and the first Web3 browser solution on desktop, with a mobile version also in the works that will redefine the Crypto, DeFi & Web3 experience on mobile. Bringing a wide range of advantages, such as:

  • A unique platform in the space providing a complete experience in a standalone desktop app, rather than a browser extension. Delivering a high quality, one-stop user focused experience required for mass adoption;

  • The first desktop Web3 browser & DApp store. Finally freeing desktop users from having to use unintuitive and feature-lacking browser extension wallets to access Web3 and DApps. While providing a simpler, easy to use medium to access Web3 and discover DApps;

  • The Infinity Wallet enables users to directly connect to a DApp on the web, but also to connect with DApps that require connecting via their own downloadable software/app rather than a domain. Making Infinity Wallet the only desktop wallet to support true unlimited access to all of Web3;

  • An encompassing approach to provide an all-in-one multi-chain platform, supporting all chain types (EVM and non-EVM, L1 and L2) across the Infinity ecosystem. Enabling seamless use of all chains within a single platform, for easier interoperability between chains and removing the need for multiple wallets;

  • We are delivering a more curated in-wallet experience, with a focus on providing a far superior and seamless user experience, as a one-stop solution for all a user’s DeFi, Web3, NFT, Crypto and Payment needs. With all features, services and protocols directly accessible within a single platform, and working with users on constant new developments to meet their demands;

  • We are actively solving issues within the space today. Such as, the need to learn and use multiple platforms, lack of live user DeFi & Web3 support to help users learn and onboard, lack of new innovation and limited features/services (limiting the user experience, along with user accessibility/usage), high fees, bad user experience and unprofessional user interfaces. With most other platforms built with a focus more on developers rather than less tech savvy end users;

Will your project be composable with other projects on Optimism? If so, please explain:
Yes, we will be looking at working closely with Optimism projects on integration across all areas, from DeFi to NFTs, and GameFi etc.

Team

Who are your founders?:
Our team is made up from individuals that have extensive experience in the space, with a complete crypto experience from Smart Contracts, DeFi/Web3 projects, DApp development, Wallet and more. Additionally, we have a general background in software development and UI/UX, as an already established ecosystem;

Information on the core/founding team members can be found at the following link Infinity Wallet Core Team Information - Google Docs

What makes your founders well-positioned to accomplish your goals with this project:
We are an already established project supporting hundreds of thousands of users globally. Built from the ground up as a complete self funded project, providing free to use infrastructure and a one-stop wallet/Web3 ecosystem.

Additionally, our team members have between 5-10 years of experience within the space (as investors, miners and developers), so we have a vast amount of experience and understanding of major shortcomings in the market, along with what is needed to enable mass adoption.

Is this your first Web3 project?: No

I understand that Builders grants are subject to a 1 year lock-up, as explained further in this post :
YES

Is your project funded?
Infinity Wallet has been in live use and constantly built on for almost 3 years, as a self funded platform/ecosystem.

Grant Request

What is the size of the grant request? 46,000 OP

How do you justify the size of the grant?
The grant amount would enable us to build out further Optimism support across a wide range of other features/services/infrastructure. As well as integrate additional Optimism projects (DApps, Tokens and NFTs) in an effort to drive easier ecosystem discoverability and adoption for developers building on Optimism. While enabling users to have an improved experience and usage of Optimism DApps, with the ability to learn about OP projects.

Roadmap

Describe in discrete steps your plan for accomplishing your project:
Once the grant is accepted we will begin the outlined integrations/developments to expand Optimism, within 4 weeks from grant acceptance.

Our team will complete the outlined integrations and infrastructure/developments within an estimated 3-4 months, and provide ongoing DApp and Token support for free to Optimism ecosystem projects that meet our general requirements.

Additionally, we will provide ongoing support for Optimism into future developments on our overall roadmap on a case by case basis. Some of the many future developments we have planned on our roadmap that could benefit Optimism can be found in our information deck on page 27 here: https://infinitywallet.io/docs/Infinity%20Wallet%20Deck.pdf (eg. Mobile release, Hardware wallet, Lending/Borrowing, DeFi Indexes and more).

Please provide any additional information that will facilitate accountability:(smart contracts addresses relevant to the proposal, relevant organizational wallet addresses, etc.)
OP Wallet Address - 0x15D645E363c6A2c83Bb3c55325C1Ca9E6936492E

Does your plan depend on the receipt of OP tokens?:
Not entirely, however it would greatly speed up and enable us to focus on further building out OP and support the OP developer ecosystem.

What is your plan for the use of the OP token after the 1 year lock-up?:
After the 1 year lock-up our team would cover the costs associated with building out the Optimism developments and support. If after the 1 year period OP is valued higher than it is today, the remaining funds would be used to continue to build out on-going support of Optimism into future developments and features (eg. Mobile Release, Lending/Borrowing, Hardware wallet and more).

Please provide benchmark milestones for this project. These milestones should guide the Optimism community on the progress of your project during the 1-year lock-up period.

  1. Optimism Social Wallet support, removing the need for a seed phrase and enabling users to create an Optimism wallet via social login, allowing for easier onboarding and usage of Optimism and the Optimism Ecosystem by the general web2 user. Expected release in Q3 2023;

  2. Ongoing support for OP DApps that meet our general requirements in the Web3 DApp store for free, and further collaborate with project’s developers. Targeting collaboration with 25+ OP DApps before 2023 end;

  3. Support Optimism Tokens that meet our general requirements with free integrations into the Infinity Wallet ecosystem as default tokens. Removing the need for them to be imported and allowing for instant usability across the Infinity Wallet and features/services, while enabling easier discoverability and awareness of projects by users. Targeting collaboration with 20+ OP token projects before 2023 end;

  4. Integrate various Optimism protocols for contract resolving, enabling DApp transactions to be decoded and linked to a specific protocol. Targeting 25+ OP protocols before 2023 end;

  5. Continue to support Optimism upgrades, maintenance and expand Optimism support across a wide range of future Infinity Wallet developments, including our highly anticipated Mobile release that is estimated to launch in late 2023 (December) to early 2024 (January)

Please define critical milestones for this project. Critical milestones are meant to show good-faith efforts to accomplish the project. Non-completion of these milestones could lead to revocation of remaining grant rewards.

  • Critical Milestone 1 (by May 5th, 2023) - We will deploy the ability for Optimism Dex Aggregation support within the Infinity Wallet, integrating and expanding aggregation of OP DEXs within a single one-stop platform and enabling DEXs access to the Infinity Wallet user base and increased volume;

  • Critical Milestone 2 (by June 30th, 2023) - We will deploy functionality for Optimism users and developers to store, send, receive, view all Optimism NFTs, view each individual NFT and its details/stats, and easily trade NFTs, via a single NFT gallery and manager interface .

  • Critical Milestone 3 (by July 30th, 2023) - We will deploy the ability for Optimism users and developers to buy or sell OP and ETH OP directly within the Infinity Wallet, enabling a single point of access for users to easily onboard and start using/accessing Optimism and the Optimism Ecosystem;

  • Critical Milestone 4 (before 1 year lockup end) - We will support a minimum of 15 DApps/Developers with direct integration for increased discovery and easier use in the Infinity Wallet Web3 Browser and DApps store.

  • Critical Milestone 5 (before 1 year lockup end) - We will support a minimum of 15 OP ecosystem Tokens with default integrations, enabling them to be accessed across Infinity Wallet features/services without needing to be imported.

Note: All milestones will be publicly verifiable within the latest Infinity Wallet release.

Optimism Relationship

Does your project solve a problem for the Optimism ecosystem?:
Wallets are the most fundamental component required for usage and adoption of DeFi, Web3, crypto payments, a chain and its ecosystem, however they are one of the least well developed applications in the crypto ecosystem.

Today, wallets act mainly as an interface, serving primarily as a transaction signing layer, with very limited functionality or in-wallet features, requiring use of multiple platforms, and are generally lacking in basic UX, while providing very unprofessional, hard to use and aesthetically poor user interfaces, with most platforms built for developers rather than end users. This has been sufficient for the early adopters in crypto, however, for the next billion users to onboard, a more curated, frictionless and high quality user experience is required!

Desktop Web3 wallet options are limited in particular, delivering very little in terms of new innovation, or solving today’s issues, while requiring the user to install a browser extension, which is not the natural flow. Overall delivering an unintuitive and feature-lacking user experience, with limited or no native support for OP and its ecosystem/DApps, greatly restricting the possibility for discoverability and adoption.

For Optimism to compete and attract users and developers, it needs a one-stop wallet super app providing a seamless user experience, to enable users to onboard and adopt Optimism, and discover the OP ecosystem as their home.

How does your proposal offer a value proposition solving the above problem?:
Infinity Wallet steps in as a one-stop hub for all payment, DeFi, NFT and Web3 activity. Providing a unique all-in-one standalone wallet solution and first Web3 browser with DApp store, removing the need for unfriendly and feature-less browser extension wallets. Enabling easier usage, onboarding and discoverability of Optimism and its ecosystem, along with a full spectrum of in-wallet services, features and protocols, as an all-in-one wallet super app for all a user’s decentralized needs!

We are focused on redefining the wallet experience and solving today’s issues, delivering a premium platform and enhancing the user experience, while providing a user centric interface for a frictionless and high quality decentralized experience that users are generally used to with web2/centralized solutions. Lowering the barrier to entry, to allow for easy onboarding and true adoption of DeFi, crypto payments & Web3 globally, while allowing users to maintain complete privacy and self-custody!

Why will this solution be a source of growth for the Optimism ecosystem?:
Wallets are the core component required for usage of any chain. We would enable users to more easily interact with and onboard to Optimism, as well as access the OP ecosystem (DApps, DeFi, Web3, NFTs and much more). Making Infinity Wallet the defining factor for usage, discoverability and adoption of Optimism and its entire ecosystem!

Infinity Wallet would provide a complete user-friendly one-stop experience in a single platform, necessary to enable onboarding of new users directly to Optimism, and for users to continue to explore the ecosystem to drive continuous ongoing usage, adoption and discoverability.

Additionally, as a top desktop wallet and one-stop ecosystem in the space redefining the wallet experience, while already supporting hundreds of thousands of users, we can provide significant exposure and growth to the Optimism ecosystem from our current and constantly growing user base.

How committed are you (and your team) to building on Optimism?:
We have already invested in Optimism with development and integration of initial support for Optimism more than a year ago as one of the first projects to do so (Wallet, Web3 Browser, Cross-chain Swaps and Bridge), and are now looking to expand our support for Optimism with additional features, integrations and support for the developer ecosystem.

Is your project Optimism Native?:
Yes, we provide default support for Optimism as a native chain, allowing users to start using Optimism straight away.

Confirmations

I understand that I will be required to provide additional KYC information to the Optimism Foundation to receive this grant: YES

I understand that I will be expected to following the public grant reporting requirements outlined here: YES

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This is great!!!
What a beautiful, well thought out presentation.
Great job.

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Thanks! We put quite a bit of effort into it.

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Hey @InfinityWallet

Giving you a heads up that all our communication will be on this forum. Grants council comprises @Gonna.eth @kaereste @danelund.eth and myself.

Critical milestones look good, but I’m not entirely clear on how to differentiate these from the benchmark milestones, which are also effectively deployment milestones.

I think you could stand to include some benchmark milestones that demonstrate not just progress but success of this program, something that tracks use, onboarding, connections, etc.

Completion of benchmark milestones is not required for the full award of a grant; rather, the completion or non-completion of benchmark milestones will inform the community of a proposer’s commitment to the Optimism community and may factor into future grant decisions.

For more information on milestones here’s a link: Milestone Assessment

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Hi @jackanorak,

Thanks for reaching out.

Regarding publicly tracking new OP users and onboarding, as an EOA wallet users generate unlinked private addresses, so it wouldn’t be possible to verify their usage stats publicly.

However, in our benchmark milestones we listed some extra goals that could be publicly tracked, which we hope to achieve on top of the critical milestones.

Regarding connections, we have listed in the critical milestones how many projects/developers we look to collaborate with. We could also add a target amount in the benchmark milestones as well?

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yes, absolutely – this is the stated goal of the builder grants program

i generally think that to improve your candidacy you’ll want to pay special attention to what this will bring that makes optimism the best place in crypto to build.

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Thanks for the suggestion, we have now also added a target amount of developers/projects to the benchmark milestones.

As for how we will make Optimism a better place for builders, I believe this has been explained in the other proposal sections.

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Hi, @InfinityWallet - we are suggesting to a few projects to consider lowering the requested OP grant size to improve their chances of finishing in the top 10 of the final list. Changes are not required - we’re merely asking that people think critically about their ask.

Also please verify whether your milestones are crystal clear, meaning they have: potential dates of completion, clear objectives to be accomplished, and an open source of truth to verify their completion.

The sooner these edits are made, the greater the chance they will be considered in the final review, which we are looking to wrap up on Monday. Please tag me if you make any edits.

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Hi @jackanorak,

The critical milestones already have potential dates of completion. I am guessing its not needed for the benchmark milestones to also have dates of completion?

As for the objectives we have tidied these and provided some more details. In regard to verifying the deliverables, each is openly verifiable by anyone.

If there are any other parts of the proposal that are unclear, just let us know and we can provide further clarification. Also if you have any suggestions we would be happy to talk or look into applying them.

Regarding the amount, due to all the deliverables proposed it would be difficult to lower the amount requested.

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I’d say it’s generally appropriate to have at least rough dates for benchmark milestones. The intention is to track progress against benchmarks on a few axes, one of which is time.

For instance: you intend to deploy a mobile wallet. I think it’s reasonable to have an expected launch date with greater specificity than later this year, same as I’m sure you have internally.

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Hi @jackanorak, hope you are having a great weekend.

I wanted to follow up and let you know that we have reduced the grant amount slightly and provided estimated timeframes on the benchmark milestones as you suggested.

If there is anything else we can provide more clarity on just let us know.

Thanks

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Definitely think browser wallets are over-rated, and appreciate the desktop application approach. I’m surprised you didn’t mention Frame Wallet as a competitor? Are you familiar with them? How do you differentiate from them? One feature that is challenging with Frame is injecting their wallet into optimism apps - this hasn’t been the most dependable UX. How will Infinity handle this? And with Frame, there’s no clear way to connect to my ETH node. I’m assuming Infinity will allow (or does already) make it easy to connect to your own node/rpc? One of the biggest hurdles with a desktop browser has been documentation. Have you seen users requesting support getting familiar/trouble-shooting a desktop experience over a browser wallet?

Thanks!

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Frame Wallet is quite different to us in that it functions effectively as an external wallet with a browser extension needed to be able to connect to Web3/DApps, making it quite difficult to use, similar to browser-extension wallets covered in our comparisons. With Infinity Wallet we provide a complete standalone Web3 browser fully integrated with the wallet, allowing for a much more fluid and user friendly experience unlike nothing before. Removing the need for Web2 browsers and wallet extensions to access the world of Web3.

Regarding user support, we have documentation and video guides, however we find users generally prefer to use the live support available on the website for any questions and assistance with using their wallet or interacting and learning how to use DApps. Although we have a strong focus on user experience and app interface, and our goal is to make its use as intuitive as possible for users of all levels of crypto (un)familiarity.

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