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Ambire Wallet

Ambire Wallet is a secure, open-source, self-custodial (hybrid) wallet that supports both Smart Accounts and Basic Accounts (EOAs) on and various , including , , , and . Since its launch on December 16, 2021, Ambire has been dedicated to delivering an exceptional user experience, combining ease of use with robust functionality. Designed to be unopinionated, Ambire seamlessly connects to any and supports a wide range of popular EVM networks.[1][2]

As a comprehensive superapp, Ambire Wallet empowers users to swap, lend, borrow, perform cross-chain transfers, and deposit fiat—all within a single app. Leveraging advanced smart contract wallet technology, Ambire offers powerful features such as transaction batching, account recovery, multisignatures, key rotation, and the ability to pay for transactions in (account abstraction and ERC-4337).

Ambire Wallet also features a tradable native token, represented by the ticker symbol $WALLET, enhancing its utility and value within the ecosystem.[3]

Product Company

Ambire is a dynamic product company known for developing Ambire Wallet and the, formerly known as AdEx Network. Established in 2017, Ambire AdEx began as a decentralized ad exchange aimed at revolutionizing digital advertising. Over time, it has evolved into a comprehensive protocol for digital advertising, garnering over 17,000 registered users to date. Ambire continues to innovate and expand its offerings, making significant strides in the digital advertising and spaces.[4][5]

Overview

wikiAmbire Wallet is a self-custodial smart wallet designed for Web3, with a strong focus on DeFi and EVM compatibility. It offers secure email authentication, blending power with user-friendliness. Supporting over 10 EVM chains—including , , , , , , Andromeda, Gnosis Chain, , , Moonbeam, and more. Ambire Wallet is ideal for both crypto newcomers and experienced users.[6]

Its simplified user interface seamlessly integrates with the Web3 ecosystem, allowing users to effortlessly navigate the exciting world of decentralized finance. Ambire Wallet's robust features include automatic gas management, the ability to pay network fees in stable currencies, hardware wallet support, and human-readable transaction information to enhance user protection.[7]

Ambire Wallet is the only wallet that lets you sign up within 30 seconds, without installing a browser extension or writing down a seed phrase. You can top it up with a credit card and then interact with Uniswap or any other dApp within minutes. It completely flattens the crypto learning curve,” said our CEO, Ivo Georgiev.

Ambire uses a backend service called "the relayer" to broadcast transactions to the network, enabling gas abstraction. This allows users to pay transaction fees in any token, have gas fees managed automatically, and pre-pay gas fees through the Gas Tank functionality. The relayer also handles one of the keys in the email/password authentication system.[8]

Although Ambire can operate without the relayer, it would lose features such as paying gas fees in tokens, Flashbots, transaction tracking, and email/password login. Ambire supports EIP-4337, which will eventually eliminate the need for the relayer by using alternative mempools for smart wallet transactions and paymasters for gas abstraction.

Ambire Wallet offers a sleek and user-friendly interface, simplifying crypto management tasks like trading, transactions, and interactions. It's the go-to choice for users seeking simplicity and efficiency in their crypto experience. Accessible on both iOS and Android mobile devices, as well as on the web, Ambire Wallet provides convenient on-the-go access. Its dashboard allows easy navigation to connected , network switching, utilization of the Earn section, management, balance monitoring, cross-chain asset transfers, Gas Tank feature checks, and a host of other functionalities, all designed to enhance your crypto journey.[9]

Supported Networks on Ambire Wallet

wikiCurrently, Ambire Wallet supports connecting to the following networks:

  • Ethereum
  • Polygon
  • Avalanche
  • BNB
  • Fantom Opera
  • Moonbeam
  • Moonriver
  • Arbitrum
  • Gnosis Chain
  • Base
  • Andromeda
  • KCC KuCoin
  • OKX Chain[10]

Features

Gas Tank & Cashback

Ambire Wallet's innovative Gas Tank feature allows users to prepay or set aside funds for gas fees in various , including stablecoins, native tokens, and the $WALLET token. This feature enables users to pay transaction fees across any network and potentially save over 20% on gas fees. For example, users can deposit on the Arbitrum chain and use these funds to pay for gas on Ethereum.

In addition to the savings from using the Gas Tank, Ambire Wallet offers a "Cashback" mechanism for even more savings. When a user requests a transaction, they receive an estimated fee based on current gas rates. This estimate may differ from the actual fee paid when the transaction is mined. With the Gas Tank, any difference between the estimated and actual fee is returned to the user as "Cashback."[11]

Network Fees Estimation

Ambire Wallet continuously calculates network fees for common actions, such as swaps on , providing users with real-time estimates. To access these estimates, simply click on the gas tank icon in the Web or mobile apps, and you'll find detailed gas estimations presented in a table format.

Transaction Batching and Management

Ambire Wallet offers a unique feature that allows users to combine multiple transactions and sign them as a single transaction, reducing gas fees. This bundling feature is particularly beneficial for users conducting multiple transactions, such as swaps on or token approvals, as it streamlines the process and saves on gas costs. In addition, Ambire Wallet's transaction history is presented in a user-friendly format, showing all pending, completed, and waiting-to-be-signed transactions, as well as any signed messages. This clear and concise display makes it easy for users to track their transaction history without the need to navigate complicated logs.

Furthermore, Ambire Wallet provides Transaction Simulation, which estimates the outcome of a transaction and shows users their balance post-transaction. This feature not only offers a useful visualization but also acts as a safeguard against malicious transactions. By providing users with a clear understanding of the transaction process and its implications, Ambire Wallet enhances the overall user experience and security of transactions.

Account and Network Management

Creating an account with Ambire Wallet is a simple process, users can establish a self-custodial wallet using just an email and password, eliminating the need for a complex seed phrase. Alternatively, users with existing or hardware wallets can seamlessly sign up with Ambire. The wallet also offers email recovery, providing a solution for users who may forget their password.

Ambire Wallet allows for easy management of different accounts, with users able to switch between accounts from a dropdown menu on both the web and mobile apps. The wallet currently supports more than 10 EVM chains, including Ethereum, Polygon, BNB Chain, Optimism, Arbitrum, Avalanche, Fantom, and Gnosis. Users have a single address across all networks and can utilize the built-in bridge for cross-chain transactions, enabling operations such as bridging USDC from Ethereum to , swapping USDC for MATIC, and then bridging it from Ethereum to the Polygon chain—all in a single transaction.

Earning Opportunities

Ambire Wallet offers users the ability to earn interest on their cryptocurrency through integrated lending and trading services. Users can also stake WALLET or ADX tokens for attractive APYs and deposit assets into AAVE and Yearn pools.

Rewards for Simply Using the Wallet

Ambire Wallet offers rewards through its Early User Incentives Program. Users who maintain a wallet balance of over $1000 in eligible tokens qualify for rewards, regardless of whether the balance is in a single currency or a combination of currencies.[12]

Easy Interaction with Your Favorite dApps

Ambire Wallet allows users to access their favorite directly within the wallet. In the web wallet, users can find a catalog of verified dApps and add custom dApps they frequently use. Ambire also supports connection to other dApps via WalletConnect. For mobile users on Android and iOS, there's an in-built dApp browser where they can search and access any dApp they wish to use.

Deposit, Swap, or Send in Seconds

Users can easily deposit tokens and NFTs into their Ambire Wallet by copying or QR-scanning the wallet address. For those new to cryptocurrency, Ambire offers in-built on-ramp solutions, allowing users to buy crypto with fiat via credit card or bank transfer from seven different providers directly within the wallet. Selling crypto is just as straightforward, with options to receive fiat currencies or gifts through various pre-integrated providers.

Ambire Wallet also enables users to swap tokens directly within the wallet, powered by Uniswap, and to swap across chains using the cross-chain bridge. Sending tokens and NFTs to friends or other wallets is simple: users can paste an address, type an ENS or Unstoppable Domains address, or add frequently used addresses to their Address Book for a more convenient experience.[13]

The $WALLET Token

$WALLET is the governance token of the Ambire Wallet. The token was launched as an token on and later bridged to and BSC. There was one funding round: the seed round that distributed 10% to early backers.[14]

At token launch, around 1% of the supply was in circulation, with 0.6% from the initial auction and around 0.4% from unlocked rewards. The rewards started on the 16th of December, together with the product launch, and were claimable shortly after the token launch. The purpose of $WALLET is to be used for rewarding Ambire Wallet users and to enable governance.

$WALLET can be traded on some of the largest crypto exchanges in the world, which includes Huobi Global, , Gate.io, ZT Global, BitYard, EXOLIX, and .[3]

$WALLET distribution

wikiThe maximum supply of WALLET is 1 billion, distributed as follows:

  • 12.7% to the early backers with 1 year linear vesting
  • 10% to the team on a merit basis, with 3 year linear vesting; allocations to team members are distributed as long as the given person is part of the team - if they leave, they lose the remainder
  • 10% to ADX stakers
  • 30% allocation for early users and stakers, distributed over 4 years as WALLET rewards
  • 35.5% allocation to the
  • 0.6% for initial liquidity on Huobi Primelist, 1% for marketing activities and 0.2% for market making.[15]

$WALLET Rewards and xWALLET Staking

30% of all WALLET tokens will be distributed as rewards to encourage users to use Ambire Wallet. Users will receive WALLET tokens based on the proportion of their digital asset value held in their wallet account over the Total Value Locked (TVL) of the Wallet in the first 4 years after its launch, as part of a liquidity mining program. WALLET holders can stake their tokens in a single staking pool to receive xWALLET tokens representing their share of the pool. Additionally, WALLET holders can provide liquidity to third-party protocols to earn various token rewards.

$WALLET Utilities

  • Users can hold WALLET tokens in their Ambire Wallet or any other compatible wallet.
  • Stake WALLET tokens on the Ambire Wallet platform to earn additional rewards.
  • Trade WALLET tokens on different cryptocurrency exchanges.
  • Provide liquidity for WALLET tokens on automated market makers (AMMs).
  • Participate in WalletDAO governance using their WALLET tokens.[14]

WalletDAO

The WalletDAO is a governed and owned by WALLET token holders. Its primary purpose is to oversee the development and integrations of Ambire Wallet. The DAO's treasury is managed by a , which is controlled by delegates. This treasury comprises 35.5% of the total WALLET token supply, along with revenues from transaction fees collected by the Ambire Relayer and swaps. Proposals related to spending from the treasury for project development can only be submitted by the core team. However, all token holders can vote on these proposals, which would require a quorum to pass.[14]

The DAO Relies on The Following Revenue Streams:

  • Swaps: swaps made using the built-in UI (swap, diversify) charge a 0.5% fee
  • Relayer: if the relayer manages to save from gas fees by rebroadcasting the txn (with Flashbots, transactions can be re-broadcast with a lower fee), then a portion of the amount saved goes towards the DAO
  • Revenue share deals with FIAT on-ramp partners
  • Yearn revenue share: Yearn has a rev-share program for dApps that integrate their vaults
  • Plugin visibility: revenue from purchasing premium spots in the Ambire Wallet plugin catalog.[6]

Team Members

The Ambire Wallet team includes dedicated and vibrant individuals in the space.

  • Ivo Georgiev - Co-founder & C.E.O.
  • Dimo Stoyanov - Co-founder & C.O.O.
  • Ivan Manchev - Marketing
  • Lachezar Lechev - Distributed systems engineer
  • Emil Stojnovsky - Product lead
  • Veselina Yaneva - Business development
  • Miroslav Krastev - Visual Designer
  • Aleksandar Naydenov - Customer Service
  • Lyubomir Nanev - Front-end Developer
  • Ivo Paunov - Core Developer
  • Nadia Ivanova-Banda - Marketing
  • Tomasz Rokita - Software Engineer
  • Alessya Ivanova - Designer
  • Emiliya Emilova - Business Administrator
  • Stefan Stefanov - Growth Marketer
  • Robert Edwards - Community Builder
  • Petar Kashev - Social Media Manager
  • Krum Kostov - QA
  • Yosif Hamed - Software Engineer
  • Aljaž Kanalec - Community Manager
  • Monika Ivanova - Office Manager.[16]

Roadmap

2019-2021:

  • Deployment of Ambire's underlying smart contracts on the mainnet, which have undergone continuous testing and validation.

2021:

  • Conceptualization and development of the Ambire Wallet, with funding secured for the project.
  • Release of a beta version of the Ambire web wallet in December 2021.

2022:

  • Launch of $WALLET, the governance token for the WalletDAO, distributed as rewards to users of the Ambire Wallet.

2023:

  • Release of Ambire's mobile app for Android and iOS, providing users with access to the same Smart Account features on their mobile devices.

2024 Q1:

  • Beta testing of the Ambire browser extension wallet.

2024 Q2:

  • Addition of support for hardware wallets to the Ambire browser extension wallet, enhancing security for users and their digital assets.

2024 Q3:

  • Introduction of a decentralized recovery mechanism in the Ambire browser extension wallet, enabling users to regain access to lost accounts.

2024 Q4:

  • Full launch of the WalletDAO, empowering $WALLET token holders to participate in steering the future development of the Ambire project.[17]
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Ambire Wallet

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Edited On

June 8, 2024

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