Overview and Background:
Recognizing the persistent challenges linked to traditional EOA wallets, such as complex key management, the risk of losing vital seed phrases or private keys resulting in asset losses, and an unwelcoming user experience, we set out on a journey to create Self Chain. This infrastructure, tailored for MPC (Multi-Party Computation) and keyless wallets, seeks to simplify crypto management, heighten security, and offer a seamless user experience, ultimately making blockchain accessible to all. Through our innovative approach, we address these crucial pain points, aiming to democratize access to the world of decentralized finance and blockchain technology.
Frontier, The Unified Non-Custodial Wallet, and Hot Cross, an extensive multi-chain and cross-chain tool suite, are joining forces on a transformative journey to tackle the complexities of crypto wallet management and build a more inclusive blockchain ecosystem. The official acquisition of Hot Cross by Frontier on June 26th, 2023, marked a pivotal moment where their visions and resources aligned perfectly. This merger brings together the strengths and experiences of both Frontier and Hot Cross into one unified team.
This merger isn't just about business; it's about a shared commitment to overcoming the hurdles that have held back the wider adoption of blockchain technology. With a united vision, Frontier and Hot Cross are set to revolutionize the crypto landscape. Our goal is to simplify crypto wallet management and make blockchain accessible to everyone. Together, we're crafting a more user-friendly and efficient blockchain ecosystem, ensuring that blockchain benefits reach people from all walks of life.
Starting as early as Q4 2022, the team has already started developing Self Chain's blockchain modules, explorer, staking app, and migration module. By Q4 2023, we rolled out our mission at community building and educational content. Looking ahead, we're excited to introduce Self Chain tokenomics, the Self Chain mainnet, and innovative products like MPC wallets, the Intents SDK, and AA plugins, paving the way for an exciting future for Self Chain.
The team envisions the creation of Self Chain, a Modular Intent-Centric Access Layer 1 Blockchain and Keyless Wallet Infrastructure Service. This innovative blockchain employs MPC-TSS/AA technology to streamline the crypto experience, addressing issues such as seed phrase complexities and user-unfriendly dApps.
In addition to this pivotal proposal, it's essential to note that Frontier products will persist in its commitment to developing and maintaining its wallet apps and wallet web extension.
New Ecosystem Mechanics:
Self Chain expands the utility of SELF tokens, with SELF, you can do a lot:
- Gas Fees: SELF tokens are used to pay for transaction fees on the Self Chain blockchain. This ensures that the network remains efficient and accessible.
- DPoS Validator Staking: SELF holders can actively participate in securing the network by delegating their holdings to validators or running their own validator nodes.
- Governance: SELF holders have the opportunity to engage in future governance decisions.
- Native Collateral: SELF tokens can be utilized as native asset liquidity or collateral within applications built on the Self Chain.
- Fee Markets: Users can incentivize validators with SELF tokens to prioritize their transactions, creating a dynamic and efficient fee market.
- Trading Fees: SELF tokens can also be used as trading fees on exchanges built within the Self Chain ecosystem.
Switching from FRONT to SELF opens up more opportunities and puts you at the forefront of a growing Layer 1 blockchain community.
Token Swap and Brand Support:
To streamline this transition, we are initiating a token migration from FRONT to the new SELF token. Our brand partners, which include prominent VCs and exchanges, are fully behind this move, further enhancing our control and ecosystem integration.
FRONT token holders will have the opportunity to vote on this proposal. Detailed information on token migration and community engagement via Telegram and Discord is forthcoming.
The Rebranding proposal is live on the Self Chain DAO, addressing the rebranding initiative. Our community is encouraged to engage in this collective governance process.
HOTCROSS allocation and migration will be proposed at a later date.
In essence, Self Chain embarks on an ambitious journey to create a user-friendly blockchain ecosystem, transforming the role and functionality of SELF for the broader crypto community. This evolution aims to simplify crypto for all and drive mainstream adoption.
About Self Chain
Self Chain is the first Modular Intent-Centric Access Layer1 blockchain and keyless wallet infrastructure service using MPC-TSS/AA for multi-chain Web3 access. The innovative system simplifies the user experience with its intent-focused approach, using LLM to interpret user intent and discover the most efficient paths.
Self Chain ensures that onboarding and recovery are effortless with keyless wallets that grant users complete self-custody over their assets. In addition, it provides automated rewards to dApps when they efficiently resolve user intent, further enhancing the user experience. Moreover, Self Chain incorporates Account Abstraction with MPC-TSS to provide secure signing and reduce transaction fees. It's a platform that redefines blockchain interaction, making it more secure and user-friendly for everyone.
In a world where blockchain technology is becoming increasingly essential, the user experience remains a critical factor in its adoption. Intents and Keyless Wallets are set to transform the landscape, making blockchain interactions more accessible, efficient, and secure. As we move forward, the blockchain industry has the opportunity to provide users with a seamless and enjoyable experience, unlocking the full potential of this groundbreaking technology.