Wallets
Wallets are used to sign operations
Blockchain wallets are a key element in onchain finance. You can see all the supported wallets on our platform here.
You will need a wallet, to be able to sign smart contract transactions. Within our platform, users will need one to perform the following actions:
- Token issuers and their agents: they use wallets to trigger the management functions of their smart contracts such as deploying a token, changing the ownership, adding agents, defining compliance rules, etc.
- Token holders: they need wallets to receive tokens and to perform actions such as transferring tokens, giving allowances to DeFi protocols, or to manage their onchain identity.
With the ERC-3643 framework, wallets are tied to onchain identities, allowing for the definition of permissions for each smart contract. This means that wallet addresses can be easily updated at any time. For example, the owner can appoint agents using their wallet addresses but can change these agents at any point. If one of these agents' wallets is compromised, it is easy to remove access and grant access to another wallet address. Similarly, if token holders lose access to their wallets, they can request the issuer of the token (or its custodian) to trigger the recovery function. This function transfers their assets from the lost wallet to a new one without altering blockchain ownership record, as ownership is tracked via onchain identities rather than wallets.
Tokeny enables users to connect with a wide range of wallet providers that can offer features such as multi-signature and policies for governance management. For this type of provider, Tokeny’s platform prepares and verifies the blockchain transaction, ensuring they meet gas requirements, involve only qualified parties, and will execute successfully once onchain. The platform then sends the prepared blockchain transaction to the chosen connected wallet provider, where customers can review and sign it according to a governance model. This ensures that the transaction is secure and aligns with our user’s preferences.
Updated about 2 months ago