XDEFI Wallet is a browser-powered wallet service that caters to nonfungible token (NFT) and decentralized finance (DeFi) users. On October 12, 2021, reports emerged that XDEFI launched its public version on the Chrome Store.
Resembling the highly popular browser extension wallet MetaMask, XDEFI supports decentralized finance applications across many blockchains. Based on this announcement, this browser wallet works with the Ethereum (ETH) network and several other Ethereum Virtual Machine-compatible chains.
XDEFI is set to challenge MetaMask’s dominance of the browser wallet space by providing a new user experience for DeFi and NFT.
Supporting Terra and THORchain, XDEFI Wallet has defined plans to feature Solana, Avalanche, and Arbitrum. Previously, the co-founder and CEO of XDEFI Wallet, Émile Dubié, insisted that cross-chain compatibility was important to guarantee enhanced use of Web 3.0.
“No need to switch from a wallet to another, no need to deal with several seed phrases — just use the same vehicle to access different destinations.”
XDEFI Wallet comprises an “Ape Mode” that allegedly uses a proprietary gas algorithm to provide quick transaction throughput for the users. Based on the statement by Dubié, Ape Mode will be an “indispensable edge” for decentralized finance and nonfungible token users.
Given its focus on NFTs and DeFi as part of the move to challenge the MetaMask dominance, the XDEFI wallet also comprises some “built for NFT” features. Also, XDEFI is designed to offer automatic in-wallet NFT detection capabilities and a grid display for collectibles.
Being a wallet platform, XDEFI will also support cryptocurrency trading with the users who can make fiat purchases for cryptos through the payment gateway service Ramp. In the past, XDEFI Wallet received backing from different investors like Alameda Research, CoinGecko, Morningstar Ventures, Mechanism Capital, Sino Global Capital, and others of up to $6 million.
