CrossWallet Research
A couple of weeks ago I wrote an article about the upcoming launch of TRONPad https://johnnie-jacks.medium.com/tronpad-research-6315c26a65ad
I will look more into how that played out later in the article (spoiler: pretty well!)
But first of all let’s take a look at the first TRONPad IDO — CrossWallet
What is CrossWallet?
CrossWallet is a non custodial crypto wallet that, from the mockups on their website, looks similar to mobile wallets such as Trust and Safepal
It appears that the main differentiator is the inclusion of several different blockchains all in one place, many of which aren’t available on current multi-chain wallet solutions:
- Ethereum
- Binance Smart Chain
- Tron
- Polygon
- Cardano
- Bitcoin
- Solana
They will allow cross-chain atomic swaps within the wallet itself so that you can move supported tokens between blockchains with ease
The inclusion of dex aggregators within the wallet means you can check prices for pairs across different blockchains before trading and potentially take advantage of arbitrage opportunities
The team have stated:
Users remain in sole control of their private keys through our 256SHA encrypted key management system. Our software will also work with hardware wallets, like Ledger and Trezor, for extra peace of mind. Full security.
For those of us concerned about security, the ability to use hardware wallets in conjunction with the wallet is a huge plus.
ROADMAP
The roadmap indicates that the mobile apps will be launched in Q1 2022
It isn’t immediately clear whether there will be a browser based wallet launched before that
On their Telegram they have stated:
CrossWallet has been in advanced development, and sneak peak previews of the UI are dropping in the coming days 👀
So it’s likely there will be more information available soon
Summary of the Project
I think it’s likely that as DeFi continues to expand across different chains, there will be a need for comprehensive cross chain wallets that are easy to setup and use
On one hand, if DeFi is truly going to go more mainstream over time, the market needs solutions that allow users to set everything up with the minimum amount of knowledge and friction
For more advanced users, adding custom networks to Metamask or setting up Sollet for example isn’t a huge deal
But have you ever tried explaining it to someone “new”?
I have — not fun!
On the other hand, crypto savvy users are likely to navigate towards solutions that allow them to do as many of the things they do regularly with as much ease as possible
So with that in mind — could CrossWallet be a major player in the future?
At this point the answer has to be “Yes”
While there is nothing to suggest that they won’t be able to achieve this goal, the details are quite thin on the ground regarding exactly how they will pull it off — team, tokenomics, MVP etc
So really, at this point we have to look at the CrossWallet launch as more of a speculative play in the short term
This isn’t for everyone of course but personally, I am excited to see how it plays out!
Let’s look more into the reasons why
First TRONPad IDO
TRONPad launched on June 4th 2021 during a period in the market where a number of launches were being delayed because of adverse market conditions
The launch was conducted by the BSCPad team, who have built a solid reputation for their IDOs on BSC
The marketcap at launch was just $119,500 with a launch price of $0.0015 BUSD
The public sale price was $0.0014 with 15% of tokens released at TGE
So what happened?
Well, I was expecting it to do very well at launch but, even as someone who has seen literally hundred of DeFi launches at this point, I was shocked at how well it did
I posted this when the price had already done 100x
Well — the price went on to do 275x
There were some dips during the first few hours but they were minor and bought up very quickly
It is one of the only times, certainly for a long time, that the phrase “sellers in disbelief” actually applied
As you might expect there has been some pullback since then but the price is still sitting at 84x the launch price
#TRONSEASON?
There was obviously a lot of demand for the first Tron IDO platform
So now we have to ask ourselves — is there going to be a Tronseason?
Whatever your personal opinions on Tron as a network, if you’re a trader then you want to look for where the narrative is moving and what the opportunities are in the market at any given time
Personally, I’d love a Tronseason!
Firstly, it gives me an opportunity to take part in some exciting and hopefully profitable IDOs
Secondly, it would help keep the market hot and hopefully drag DeFi as a whole out of its current funk
So the first launch on TRONPad is going to tell us a LOT about what we might expect next
How to Participate in the CrossWallet IDO?
I have participated in a Private Round for the project
The public sale for CrossWallet is taking place on June 17th (time TBA) on both BSCPad and TRONPad
The marketcap at launch is set at just $99,500
The IDOs will take place (I assume at the same time) on:
TRONPAD.NETWORK and BSCPAD.COM
You will need to buy and stake the required number of tokens on either platform to attain access to the IDO for your desired level
For more details see:
#TRONPAD: Buy or Bridge & Stake
https://t.me/Tronpadannouncements/126
#BSCPAD: Buy & Stake
https://t.me/Bscpannouncements/755
Depending on your level, you may need to complete the whitelist
Official Links for CrossWallet
🧬#CrossWallet Official Links:
▪️Website: https://crosswallet.app/
▪️Telegram: http://t.me/crosswallet
▪️Telegram Ann: https://t.me/Crosswalletannouncements
▪️Twitter: https://twitter.com/cross_wallet
Conclusion
I am going to be paying close attention to how this launch plays out and will be participating myself through BSCPad
With the small marketcap at launch, full support of the BSCPad (which just reached 100k followers on Twitter) and TRONPad teams, I expect it to do very well once it hits DEXs
Importantly for the short/mid term, it should be a great barometer of what we can expect for upcoming TRONPad IDOs and give some indication of the general interest of IDOs outside of ETH/BSC in the coming weeks
