- This program will be the first multi-chain, multi-layer, non-custodial wallet to offer in-app lending, borrowing, trading, and staking with the intention of lowering bridging risks.
With the goal of quickening the Web2 to Web3 shift, the blockchain development hub Nycrypto Labs has announced that it has successfully collected $800,000 in pre-seed funding.
The release of Tidus Wallet, the main product of Nycrypto, and this financial milestone occur at the same time. As the only multi-chain wallet available, this wallet enables cross-chain borrowing, staking, and lending within the app.
The investment round was led by DNA Fund and included a number of notable angel investors as well as Transform Ventures, which is run by Michael Terpin.
Tidus Cash
The wallet was developed in order to mitigate the risks involved in bridging, or the movement of assets across other blockchain networks. Token conversion through the use of intermediary protocols or platforms is a common practice in bridging.
Multiple processes, more complexity, greater fees, and security threats are all associated with bridging, which can be especially difficult for novice traders.
Tidus Wallet offers a safer and more effective user experience by eliminating the need for bridging. This lowers transaction costs and gives consumers more confidence to explore the Web3 environment.
With its multi-chain interoperability, Tidus lowers the possibility of click fraud. It is a complete answer for all of your DeFi needs since it offers decentralized security and privacy, training materials, and smooth integration with native Dapps.
The wallet addresses the challenging learning curve and perceived security threats while increasing blockchain and DeFi accessibility, facilitating Web3 engagement for millions of users. It is a non-custodial wallet that can be found in the iPhone and Android app stores and is accessible on PC and mobile devices.
According to Dan Mulligan, the founder of Nycrypto Labs and Tidus, three basic principles—accessibility, decentralization, and security—are essential for any cryptocurrency enterprise. Many platforms prioritize decentralization and security over other principles, such as accessibility, and security is frequently jeopardized in the absence of decentralization. These ideas are smoothly combined with Tidus and TidusDAO, which also give users rewards for utilizing the software.
Tidus is a flexible tool that is appropriate for users, supporting networks like Ethereum, Solana, Base, TON, Optimism, Arbitrum, Polygon, and Bitcoin.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
