## What Is CardWallet (CW)?

CardWallet (CW) is a next generation non-custodial wallet for [Cardano](https://coinmarketcap.com/currencies/cardano/) with FIAT on/off-ramps services. The development of the project began in the spring of 2021 with the goal of shaking up the crypto market and offering users extraordinary utility and functionality. The CardWallet features a combination of useful tools like storage, exchange and trading of native Cardano tokens, staking, delegation and liquidity mining. Thus, CardWallet provides a complete and essential pool of functions for Cardano users as well as a full suite of [DeFi](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance) capabilities.

The project was originally developed for the Cardano ecosystem and was designed to support other protocols, blockchains and native tokens. The developers of the project observed and defined the following problems of the industry: the structure of DeFi is not entirely comprehensible to the audience; the barrier to entry into crypto is high; UX / UI is inconvenient. Thus, the mission of CardWallet was evident: to create a simple and decentralized wallet with a clear interface and a basic set of functions, making the concepts of DEX, staking, yield optimization extremely user-friendly.

CardWallet users have full ownership of their assets. With CardWallet, they can send, store and receive fiat currencies to complete transactions in a secure manner. In addition to supporting crypto assets, the wallet works with Visa, MasterCard and Apple Pay.

CardWallet has a mobile version of the application on the Google Play Store and Apple’s App Store. Moreover, CardWallet is actively developing a [web3](https://coinmarketcap.com/alexandria/article/what-is-web-3-0) implementation for the nascent Cardano ecosystem. With support for over 30 fiat currencies and 5 languages, CardWallet is poised to become one of the leading DeFi wallets for sending, receiving and storing cryptocurrencies.

CoinWallet’s [IDO](https://coinmarketcap.com/alexandria/glossary/initial-dex-offering) (initial decentralized offering) took place from August 16 to 18, 2021 via the OccamRazer platform.

Who Are the Founders of CardWallet?

CardWallet was launched in May 2021 by Tiago Serôdio and Victoria Vaughan.

Tiago Serôdio (CEO of CardWallet) is an industry veteran who was introduced to blockchain in 2012. Serôdio has contributed to the success and recognition of high-profile crypto projects like Cardano, Occam.fi, HUMAN Protocol. He worked with DASH, and invented Masernod as a service concept.

Victoria Vaughan (COO of CardWallet) is the former CEO of Cointelegraph, which she built from scratch and then launched to the forefront of the crypto space. Vaughan has been involved in crypto since 2013. Over the years she has acted as a consultant for the digital asset trading software company, Scalable Solutions, and for Bitcoin.com Exchange. 

Among the advisors of CardWallet are experts like Fernando Gutierrez, Florian Bohnert and Jesus Gonzalez. The list of strategic and technical partnerships includes Scalable Solutions, Simplex, Occam.fi, Nodeseeds and Crypto Dorm Fund.

What Makes CardWallet Unique?

CardWallet is a community-driven product that acts as the foundational tool for managing assets and interacting with applications in the Cardano ecosystem.

CardWallet features:

Users have access to centralized and decentralized execution venues, streamlined exchange processes, placement and delegation of ADA tokens, asset exchange across some layer-1 networks, and a [DAO](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao) governance structure.

How it all works: Users stake CW, vote, and benefit from community participation through CardWallet's utility token - CW. In addition, CardWallet supports NFT storage and trading capabilities.

Cross-chain exchange functionality is provided via the MVP and a liquidity mechanism: major holders of CardWallet tokens can exchange assets with zero commission. Additional benefits include access to a debit card, yield farming, ADA cashback, community rewards for participation in governance, and the ability to influence the development vector of CardWallet.

CardWallet developers have built a clear and accessible interface that offers user-friendly design, easy access via PIN code and biometric authentication, and fast FIAT transactions in cryptocurrency.

CardWallet rewards community members for participating in debates, staking tokens, inviting other users, voting, suggesting improvements, and contributing to the development of the CardWallet ecosystem.

In order to create a shortage of the CW token, and therefore increase its value, the creators of CardWallet use a buy-back system: 25% of the net revenue goes to buy back CW on the open market + burn them. In doing so, users of the ecosystem can receive the benefits guaranteed by CardWallet.

Related Pages:

Read about [Cardano (ADA)](https://coinmarketcap.com/currencies/cardano/).

Take a deep dive into Cardano with [CMC Alexandria](https://coinmarketcap.com/alexandria/article/a-deep-dive-into-cardano).

What is a wallet? [Click here](https://coinmarketcap.com/alexandria/glossary/wallet) and find out.

[Proof-of-Work vs Proof-of-Stake](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake).

[Hot Wallets vs Cold Wallets](https://coinmarketcap.com/alexandria/article/hot-wallets-vs-cold-wallets-whats-the-difference).

How Many CardWallet (CW) Coins Are There in Circulation?

The team created an engagement metric to help facilitate the direction of their community-centric tokenomics: 60% is assigned to systemic performance (how the community interacts with the product) and 40% to personal engagement (trading, staking, voting, testing, participating in competitions, referring others to CardWallet). Thus, this system of community-centric tokenomics transfers all power to the token holders and larger community, which makes the product completely decentralized and centered on the community. 

Collective community action, as well as individual user action, is rewarded through discounts, early access to features, and the opportunity to participate in governance of the ecosystem.

CW tokenomics is divided into 4 stages (stages contain incentives that directly relate to the interaction with CardWallet):

**Stage 1**: Centralized order routing. Users stake and gain access to the exchange mechanism (no commission), receiving discounts in tokens (the amount equal to the commission fee).

25% of net income goes to the purchase of tokens on the open market and subsequent burning.

**Stage 2.** As a result of community voting, stakers receive discounts in the form of additional tokens - this is a variable percentage of stake income. At the end of each month, there is a community vote that chooses a successful Staking Pool Operator (SPO).

**Stage 3. **This is where profitability optimization for platform users takes place, namely, automation of yield farming processes across a wide range of platforms.

Participation features:



* the community votes on proposals and creates new ones for the CardWallet DAO
* there are proposals for upgrading CardWallet - CWIP, which can be submitted by community members
* initiative users are rewarded for their active participation in the life of the community;

    access to DAO voting appears.


**Stage 4**. At this stage, stakers have entry to an exclusive debit card, and can also request cashback in ADA tokens through the application.

How Is the CardWallet Network Secured?

CardWallet is a simple, secure, and decentralized crypto wallet that is hack-resistant and forbids access if the keys do not match. With CardWallet, private and public keys are stored to maintain the status. In order for a user to complete a transaction and gain access to coins in their wallet, they must meet a condition where the private key matches the user's public key.

As for Cardano, it's secured through an "environmentally sustainable, verifiably secure" [PoS](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) protocol - Ouroboros, which improves the security guarantees provided by the [PoW](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) consensus mechanism. Cardano's Proof-of-Stake consensus protocol is designed to reduce the energy cost of the block production process, a distinctive feature that sets it apart from other blockchains.

The non-custodial nature of CardWallet enhances the privacy and security of your digital assets, thereby giving you the autonomy to control your assets.

Where Can You Buy CardWallet (CW)?

As of January 2022, CardWallet (CW) is listed on at least three crypto exchanges, among them [Uniswap (V2)](https://coinmarketcap.com/exchanges/uniswap-v2/), [MEXC](https://coinmarketcap.com/exchanges/mxc/), and [HitBTC](https://coinmarketcap.com/exchanges/hitbtc/).

Download the CoinMarketCap [mobile app](https://coinmarketcap.com/mobile/), and track prices of CW or ADA in real-time.

Need a safe place to store your crypto assets? These [top hot wallets](https://coinmarketcap.com/alexandria/article/10-best-crypto-hot-wallets-for-beginners) can help.

Get the latest product updates, partnerships, and announcements from CMC [here](https://coinmarketcap.com/alexandria/categories/blog).


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Established in July 2020, TrustSwap is a diverse Web3 ecosystem creating secure infrastructure for blockchain builders and communities. The TrustSwap Launchpad is a leading Launchpad and IDO service, achieving the #1 spot on Cryptorank in 2023 for All-time High Returns and Average Returns. TrustSwap has launched over 55 projects with a collective fundraising of over $70 million.

TrustSwap is also the parent company of The Crypto App and Team Finance, which offer a suite of multi-chain services including crypto portfolio tracking, token and liquidity locks, minting, staking, and vesting-as-a-service.

SWAP token is the key to accessing guaranteed allocations in top-tier IDOs via the TrustSwap Launchpad. Staking more SWAP tokens longer increases your SWAP Score and unlocks higher allocations as well as other perks for top stakers.

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To learn more about this project, check out our deep dive of Karura.

Both Karura and Acala are backed by multiple funds, including Coinbase Ventures, Pantera Capital, Polychain Capital and Hypersphere. Karura and Acala operate in parallel. Specifically, Karura is implementing DeFi on Kusama in the same way that Acala is offering DeFi on Polkadot. The network is built with almost the same codebase as Acala: the two platforms provide scalable, convenient and fast DeFi cross-chain ecosystems for Kusama and Polkadot.

Parachain Karura is a platform that allows users to create effective, low-cost and complex financial applications, saving time and increasing trading efficiency.

The platform itself provides a multi-collateralized stablecoin backed by cross-chain assets (kUSD), a trustless staking derivative (liquid KSM), and an automated market maker (AMM) decentralized exchange (DEX) for unlocking liquidity and supporting financial innovation.

Karura is the decentralized financial hub of Kusama, a scalable multi-chain network for radical innovation and early-stage Polkadot deployments. Karura is the sister network to Acala. It hosts multichain liquid staking token (LST) protocols (such as liquid KSM - LKSM), an AMM decentralized exchange, and an app platform that is EVM-compatible and highly customizable (based on Substrate). Karura is secured by Kusama, and is the liquidity gateway of Kusama parachains, Acala and L1/L2 blockchains

Karura

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What Is Velas (VLX)?
Velas is a pioneering solana L1 Fork with Full EVM blockchain bridging the gap between EVM familiarity and unparalleled performance.

Velas is an highly unique dual-chain architecture, seamlessly merging the best of both worlds: the robust security and established developer ecosystem of the EVM with the lightning-fast transaction processing capabilities of Solana. This hybrid approach unlocks a treasure trove of possibilities for Ethereum projects seeking to escape congestion and scale to new heights.

The defining feature of Velas lies in its full EVM compatibility. Existing Ethereum smart contracts can be migrated seamlessly with a single click, eliminating the need for costly code rewrites and preserving the valuable expertise invested in the EVM ecosystem. This one-click migration paves the way for a smooth transition, allowing developers to leverage their existing skills and tools on a platform built for speed and scalability.

It leverages the power of Solana’s parallel transaction processing to deliver lightning-fast speeds exceeding 75,000 TPS. This translates to near-instantaneous transaction finality and minimal fees, a stark contrast to the congested and expensive environment of Ethereum. For dApps and users, this translates to a smoother, more efficient experience.

But speed is just the beginning. Velas is also:

Decentralized: No central authority controls the network. Power is in the hands of the community through a secure Proof-of-Stake (PoS) consensus mechanism.

Carbon-neutral: Velas is committed to sustainability, utilizing a green PoS mechanism that minimizes energy consumption.

Accessible: Building on Velas is a breeze with its extensive developer tools and EVM/Solidity support.

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The main specialization of the Efinity project is the NFT space. With the protocol, traders and gamers can create, distribute, transfer, sell and buy NFTs. Efinity aims to remove barriers to entry into the NFT space/decentralized gaming, and to simplify user experience and digital asset governance.

Efinity Token powers the entire Efinity ecosystem, EFI aims to prioritize the generation, transfer and purchase of tokens using an inter-chain infrastructure of protocols resulting in lower transaction fees. As for incentives, rewards on PoW blockchains with NFT functionality go to miners who create/trade tokens, thereby forming a community.

One of the long-term goals of Efinity is to become a hub for both fungible and non-fungible tokens, accepting tokens from any other chain, facilitating the pricing and exchange of NFTs, increasing transaction volume, and creating network effects.

In December 2021, the project won the Polkadot parachain auction, and in March 2022, Enjin launched their flagship parachain Efinity on the Polkadot Relay Chain — a blockchain platform that provides a decentralized parachain network where people havecontrol over their data and identity.

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Vega Protocol provides the derivatives scaling layer for Web3. It is a custom-built proof-of-stake blockchain, which makes it possible to trade derivatives on a decentralised network with comparable experience to using a centralised exchange.

VEGA is the network governance and staking token. It is used for:

Voting on the creation of new markets on the network

Running validator nodes on the network via staking VEGA tokens

Earning fees from traders through staking and delegation

Governing important network parameters which ensure markets are secure and fair

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