By providing a new user experience for decentralized finance and nonfungible tokens, XDEFI will challenge MetaMask’s dominance in the browser wallet space.
The public version of XDEFI Wallet, a browser-based wallet service for users of decentralized finance (DeFi) and nonfungible tokens (NFT), has been released on the Chrome Store.
The XDEFI Wallet, like the popular browser extension wallet MetaMask, supports DeFi applications across multiple blockchains. The browser wallet, according to the announcement, is compatible with the Ethereum (ETH) network and other Ethereum Virtual Machine-compatible chains.
In addition to THORchain and Terra, XDEFI Wallet intends to support Avalanche, Solana, and Arbitrum.
In an earlier interview with ULTCOIN365, Émile Dubié, co-founder and CEO of XDEFI Wallet, argued that cross-chain compatibility was required to ensure better Web 3.0 utilization.
“There’s no need to switch wallets, no need to deal with multiple seed phrases — just use the same vehicle to access different destinations,” Dubié explained to ULTCOIN365.
The XDEFI Wallet includes a “Ape Mode,” which reportedly uses a proprietary gas algorithm to provide users with faster transaction throughput. Ape Mode, according to Dubié, will be a “indispensible advantage” for DeFi and NFT users.
Given the emphasis on DeFi and NFTs as part of the strategy to compete with MetaMask, XDEFI Wallet also includes some “built for NFT” features.
XDEFI, according to the announcement, provides automatic in-wallet NFT detection as well as a grid display for collectibles.
As a wallet platform, XDEFI will also support crypto trading, with users able to purchase cryptocurrencies with fiat via the payment gateway service Ramp.
XDEFI Wallet previously received $6 million in funding from investors including Mechanism Capital, Sino Global Capital, Morningstar Ventures, Alameda Research, CoinGecko, and others.