News

The 1inch Hardware Wallet Project has been approved for completion of the product trade version

Jyotirmoy Barman

Jun 12, 2023 — 1 min read

On June 12, 2023, the 1inch Hardware Wallet proposal was approved for completion. The project has been coordinated with the 1inch core team and seeks funding of $2 million to complete the product trade version (PTV) of the 1inch hardware wallet. The grant will allow the team to finalize product development, establish the manufacturing process, and pass technical and security audits for a successful launch.

The hardware wallet is being built as a fully open-source project to enhance the 1inch ecosystem and empower the DeFi community with a cutting-edge solution for handling their crypto assets in a simple, convenient, and secure way. The wallet will include transparent signing, data decoding, open-sourced hardware & firmware, seamless navigation, HD-wallet support, and a multi-seed wallet.

The 1inch hardware wallet will be integrated into the 1inch, expanding the 1inch Mobile Wallet ecosystem. It will provide a safe option for storing and managing private keys simply, easily, and offline. The team aims to launch the product for sales (first batch) by the fourth quarter of 2023.

The project received a grant of $175k from the 1inch Foundation in 2022 to develop an MVP (Minimal Valuable Product) of the hardware wallet. The team has successfully moved from MVP to the EVT1 stage and completed a working engineer prototype. Currently, the team is conducting the alpha test and working on device integration into the 1inch Mobile Wallet app.

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