An Interview With Tidus Wallet
In an exclusive interview with BitcoinWorld, We got a chance to interact with Dan Mulligan, Founder of Nycrypto Labs and Tidus Wallet – the crypto everything app, In this interview, We discuss What is Tidus Wallet all about & Why its been needed ,
What is Tidus Wallet all about, and why is it needed as there are a number of wallets already present in the market?
“Other wallets present in the market require users to juggle different apps and browser extensions to monitor their digital assets. This can intimidate new users. Tidus is the only multi-chain wallet that enables swaps, lending, borrowing, and staking on multiple chains and dApps without leaving the app. Tidus Wallet also eliminates the need for bridging, allowing users to buy with a debit/credit card directly on L1 and L2s, offering a more secure and streamlined user experience.”
Tidus Wallet is designed for both new and experienced users—what makes your user interface (UI/UX) stand out compared to other wallets in the DeFi space?
“The Web3 space can be intimidating for new users, especially those looking to explore DeFi as a whole. Tidus allows users to interact with blue chip dApps out of the box. We are offering a suite of decentralized applications at the users fingertips. Our modular approach gives users a holistic but siloed experience across multiple blockchains. They always know where they are and what they are doing. There’s minimal room for ever and no need to leave the app.
Tidus also integrates educational elements to guide users through DeFi concepts, providing them with vetted links and detailed info anytime. By prioritizing accessibility and education, Tidus Wallet empowers users of all experience levels to navigate the DeFi landscape.
We do all of this while remaining non-custodial and offering account abstraction via local key storage and in-app on/off ramping, giving users a simple, secure and decentralized product.”
Unlike traditional wallets, Tidus offers a multi-chain, non-custodial platform. Can you explain how supporting networks like Bitcoin, Ethereum, Solana, and TON improves the user experience?
“We wanted to create a tool where users could continuously pop in and out of the most active chains without having completely different experiences or having 3+ separate apps. This streamlines transactions and allows users to engage with a wide range of projects and DeFi applications, all from one place. Our modular UI allows the same experience for the user whether they are on TON, Bitcoin, Ethereum, or Solana.”
One of Tidus Wallet’s unique features is its ability to manage, lend, borrow, stake, and swap assets all within the app. How does this integration enhance security and reduce risks for users?
“Each transfer between external platforms introduces potential vulnerabilities, particularly “click fraud” or phishing attacks. However, if a user can manage, lend, borrow and stake without leaving the app, it reduces exposure to external risks while simplifying transactions and lowering the likelihood of mistakes or security breaches. We use our own API/SDK to aggregate data and connect directly to blue chip dApps. This means there’s no middleman and we can ensure a safe experience.”
Bridging between blockchains can be complex and risky for users. How does Tidus Wallet address the typical challenges of bridging assets across different networks?
“The bridging process often involves multiple steps, which can potentially introduce security risks, complexity for beginner traders, and higher fees.
In some cases, bridging is needed for certain DeFi functionality and we aim to provide the best bridging experience when the time comes. For now, Tidus has minimized the need to bridge for the average user. Our modular build allows on/off ramping directly on any chain so users can simply start swapping or playing with DeFi after their purchase. Tidus provides a more secure and streamlined user experience that not only reduces transaction fees/wait time but also empowers users to engage with vast and burgeoning Web3 landscape with a greater sense of confidence.”
Seamless on/off ramping is a key feature in Tidus Wallet. Can you share more about how this functionality simplifies the transition between fiat and crypto across multiple chains?
“We have the lowest on/off ramping fees of any wallet. We integrated with Kado to allow users to use a debit/credit card in the app across any chain by only KYCing once. Soon users will be able to do KYC/AML directly in-app upon wallet creation. This feature provides a more intuitive experience, especially for those managing assets on various chains within one integrated platform.”
Many wallets rely on in-wallet browsers for various transactions. How does Tidus Wallet’s elimination of in-wallet browsers create a more secure and efficient experience for users?
“Eliminating in-wallet browsers streamlines the wallet experience, focusing solely on core functionalities like asset management, lending/borrowing, or staking, without the distractions or vulnerabilities posed by browsing. Navigating across platforms can be distracting or overwhelming to new users. It also increases the potential exposure to phishing attacks or interacting with potentially compromised external sites.”
As you continuously integrate new functionalities, what are the key features or updates we can expect from Tidus Wallet in the near future?
“We are working on a ton of exciting new features including a social patronage function where users can support creators with monthly donations and income management. DCAing into your favorite assets and more DeFi functionality including providing liquidity to pools and more assets staked. We are also rolling out a function where users can send crypto via SMS. We are also developing Tidus Trade and Tidus Chat to allow users to swap NFTs and chat in-app.”
What role do you see Tidus Wallet playing in helping new users navigate the Web3 ecosystem, and how does it bridge the gap between Web2 and Web3 for the mainstream audience?
“Tidus Wallet is designed to be the gateway for new users to easily and securely navigate the Web3 ecosystem without the steep learning curve traditionally associated with crypto. We recognize that many users are coming from Web2 environments where they are used to seamless, intuitive interfaces—think of logging in with your Gmail or Apple ID. We’ve integrated account abstraction into Tidus Wallet, allowing users to create wallets with credentials they already understand, rather than requiring them to deal with complex seed phrases or private keys right away.
Our goal is to remove the friction that keeps the mainstream audience from adopting Web3. By bridging the gap between Web2 and Web3, Tidus Wallet ensures that users can interact with decentralized applications, tokens, and blockchain-based services with the same simplicity they expect from traditional apps. We’re focused on delivering a user experience that feels familiar, while still providing the full benefits of blockchain technology in the background.
This approach not only drives adoption by making Web3 accessible but also opens up opportunities for businesses to integrate wallets into their products without forcing users to adapt to an unfamiliar process. Ultimately, Tidus Wallet is about making the decentralized web as easy to use as any app, while introducing users to the broader possibilities of Web3 without overwhelming them.”
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