Obvious launches a Smart contract wallet on Ethereum, that enables users to pay gas fees in a token of their choice with its intuitive mobile app, solving a major pain point for blockchain users 9233

Obvious, a mobile-based, multichain smart contract wallet is pleased to announce the launch of an Account Abstraction-based Smart Contract wallet powered by Biconomy Account Abstraction Stack. Smart contract wallets are blockchain wallets that use the functionalities of Smart contracts on the blockchain.

Traditional wallets or EOA wallets use private keys, allowing users to access and manage their funds. In contrast, smart contract wallets add an additional layer of functionality by integrating programmable logic. This logic allows for the automation of transactions, the implementation of customized rules, and the facilitation of complex financial interactions.

Obvious is one of the first wallets to use the new technology made possible by EIP-4337 and bring a smart contract wallet to multiple chains on the Ethereum ecosystem. Since the launch of its wallet in May, more than 10,000 wallets have been created on the Obvious app.

What is EIP-4337 and its significance?

EIP-4337 is an improvement proposal passed by the Ethereum community that enables the benefits of Account Abstraction without changing the consensus layer. This enables anyone to create contract accounts on Ethereum.

Accounts created using Account Abstraction are called smart Contract wallets. They provide greater security and flexibility to users as they are based on a smart contract rather than a private key and are made possible by the ERC-4337 protocol. This provides enhanced security and customizations, as the risk of private key exposure reduces.

With its new smart contract wallet, Obvious has enabled ‘Pay Any’ as a core feature. This enables users to pay blockchain transaction fees known as ‘gas fees’ in a token of their choice. This eliminates the inconvenience faced by many users when transacting on crypto wallets as transactions often get blocked due to insufficient balance of tokens needed to complete the transaction.

Obvious is committing to several consumer focussed features for its smart contract roadmap in 2023. Pradeep BV, CPO and Co-founder of Obvious said, “Smart contract wallets bring us close to modern bank accounts, in fact, a step ahead. The ability to customize the wallet based on user needs is really exciting. Some of the features that are expected to be released include setting spending limits, 2FA on transactions, the ability to batch transactions, and support for more chains in the EVM ecosystem.”

Himanshu Retarekar, CEO and Co-founder of Obvious added, “At Obvious we are committed to bringing the best user experience for everyone on the blockchain. Account Abstraction has the potential to massively simplify the user experience for people in crypto and blockchain and help onboard millions to the ecosystem. We are excited to be one of the first ones to power this movement, especially on mobile. We are just getting started, and there is a lot more to come from Obvious in the future.Biconomy has been a really great partner for us in this endeavor. “

About Obvious

Obvious is a mobile-based self-custody wallet that brings together assets across EVM & non-EVM chains and powers your cross-chain transactions by providing you safe, fast, and affordable bridging & swapping routes within the app. Obvious Wallet is one of the best apps out there for your multi-chain experience with its exceptional user experience and a wide variety of features in its mobile app. Obvious is mobile-first and is designed for experiencing crypto on the go. Launched in January 2023 by a team of ex Yahoo, Flipkart, Ola, Swiggy, Grab executives, Obvious (https://obvious.technology) is available to users worldwide on the app store and play store and has users from 100+ countries, using the Obvious app for their wallet needs.

About the executive team

Himanshu Retarekar | Co-founder, CEO

Himanshu is a serial entrepreneur, with 14+ years of Engineering experience leading engineering teams at the top startups across India. His last stint was as VP of Engineering at Freight Tiger. Prior to that, he was the Director of Engineering at Ola for consumer apps. He has had multiple entrepreneurial stints and sold his last startup to Ola.

Ex – Freight Tiger, Olacabs, Citrix

https://twitter.com/hretarekar | https://www.linkedin.com/in/hretarekar/

Jebu Ittiachen | Co-founder, CTO

Jebu leads all things tech at Obvious. He has been a serial tech entrepreneur and has 25+ years of experience in tech. He has worked at major tech companies in various roles. He was also the Architect at Ola cabs and Chief Architect at Freight tiger before starting Obvious. He has substantial experience in the crypto space and understands blockchain at a fundamental level.

Ex – Freight Tiger, Olacabs, Yahoo, Infosys

https://twitter.com/jebui | https://www.linkedin.com/in/jebuittiachen/

Pradeep Banavara | Co-founder, CPO

Pradeep leads all things product and community at Obvious. He has been a serial entrepreneur and has 20+ years of experience in product, strategy & growth. Pradeep has led product teams at top startups across India and South East Asia, most recently at Swiggy. He has also started up multiple ventures and has a deep understanding of building consumer apps for billions of people.

Ex – Swiggy, Grab, Olacabs, Flipkart, Yahoo

https://twitter.com/pradeepbv | https://www.linkedin.com/in/pradeepbv/

More Information: https://www.obvious.technology/blogs/best-smart-contract-wallet-for-ethereum-ecosystem

Previous ArticleNext Article

Term Structure Secured an Initial Funding of USD 4.25 Million in a Series Seed Fundraising Round, With Cumberland DRW Leading the Investment 2907

Term Structure, a non-custodial fixed-income protocol that provides peer-to-peer, fixed-rate, and fixed-term borrowing and lending in decentralized finance (DeFi), has secured an initial funding of USD 4.25 million in a series seed fundraising round.

Cumberland DRW led this round, with participation from Decima Fund, HashKey Capital, Longling Capital, and MZ Web3 Fund. The seed fundraising increases Term Structure’s total funding to over $8 million to date. In speaking about why it led the funding round, Cumberland DRW said, “Fixed income products are a foundational element of traditional financial market structure, and demand for these products in DeFi markets is an important signal of the increasing maturity in this market sector. Term Structure, which is led by industry veterans, is an exciting investment for us and reflects our commitment to investing in innovative solutions that solve real market needs.”

In TradFi, fixed-income products enable institutions and individuals to predict future cash flows and evaluate the relative value of different investment opportunities. However, such products are currently absent in DeFi. With the Term Structure Protocol, users can use fixed-income products to earn periodic interest to ensure a reliable income stream or secure fixed rates to control funding costs. Moreover, once fundamental fixed-income products are established, they accelerate the full development of sophisticated financial products, including forwards, futures, and options. These tools can be used for hedging, valuation, and pricing financial instruments.

The Term Structure Protocol testnet is live at https://app.testnet.ts.finance/ on Ethereum Goerli. This protocol currently has two core markets on its platform. In the primary markets, users can place orders to borrow or lend tokens with fixed interest rates and fixed maturity dates. Once orders are matched, borrowers will receive borrowed tokens and must repay their debts before the maturity date to reclaim their collaterals. Lenders will receive fixed-income tokens, redeemable for principal plus interest upon maturity. In the secondary markets, users can buy and sell fixed-income tokens through the orderbook trading system.

To secure users’ assets, the zkTrue-up scaling solution, a customized ZK Rollup, is in place to achieve data availability and enable users to place and cancel orders without gas fees. Users can also initiate Forced Withdrawal on the zkTrue-up contract to directly withdraw funds in case of censorship or any issues. If the withdrawal request is not fulfilled, users can activate the Evacuation Mode and perform the evacuation on the L1 contract to protect their assets.

A workshop will go live on December 4th, 2023 on YouTube to introduce the protocol, and the AMA will be held on December 5th, 2023. Furthermore, a trading competition will be organized after the testnet launch. Prizes, including 10,000 USDC, will be awarded to winners. Programmatic trading APIs and SDKs will also soon become available for professional traders. Please visit Term Structure’s official website, https://ts.finance/, to stay updated.

Fireblocks Launches Off Exchange, the First Solution to Truly Mitigate Exchange Counterparty Risk, with Deribit as First Live Exchange Integration 3512

Today, Fireblocks – a platform to manage digital asset operations and securely build blockchain-based products – announced the launch of Fireblocks Off Exchange, the first and only solution that truly eliminates exchange counterparty risk. Off Exchange enables trading firms and asset managers to trade on centralized exchanges from an on-chain MPC shared wallet.

“We are excited to push the envelope of using innovative technology to solve the challenges of counterparty risk in digital assets,” said Michael Shaulov, CEO of Fireblocks. “Fireblocks has closely partnered with leading institutional firms and exchanges to develop Off Exchange, introducing a fundamental shift in how to simultaneously reduce risk and increase liquidity.”

Exchange counterparty risk takes various forms, including cyber hacks, bankruptcy, commingled accounts, and misappropriation of client funds, as evidenced by the FTX incident. These risks stem from the unique structure of the crypto trading market, where exchanges play the role of both a custodian and trading venue. The outsized counterparty risks have restricted the capital that trading firms deploy on exchanges, and prevented traditional firms from entering the crypto market altogether.

Fireblocks Off Exchange leverages MPC technology to enable traders to allocate and mirror assets directly to an exchange from a wallet they mutually control, protecting their principal from hacks, bankruptcy, and fraud, while providing centralized exchanges with complete on-chain transparency that client accounts are fully collateralized. Unlike custodial solutions that transfer counterparty risk to centralized clearing parties, Fireblocks Off Exchange takes a technology-first approach, enabling traders to eliminate all forms of exchange counterparty risk by locking funds in secure MPC-based shared wallets.

“As a strong advocate for the institutionalization of the digital asset derivatives market, the need for institutional-grade security is paramount. We are pleased to be among the first users of Fireblocks Off Exchange, which mitigates exchange exposure through direct custody. This is another pivotal step forward for the industry towards a secure and capital-efficient derivatives trading ecosystem,” shared Melvin Deng, CEO of QCP Capital.

With Fireblocks Off Exchange, traders and exchanges can settle trades in real-time and move capital between venues and counterparties, allowing them to quickly capitalize on new trading opportunities.

Fireblocks Off Exchange delivers the first blockchain-native solution, providing exchanges with complete transparency to monitor and validate client collateral on-chain and enforce risk management without taking custody. This increases liquidity for traders and exchanges by eliminating the need for both parties to lock funds in a third-party cold storage solution. It also empowers trading firms and exchanges to mitigate adverse impact on funds while maximizing their capital efficiency.

“Fireblocks has taken an innovative approach that uses MPC technology to reduce client capital deposited at exchanges, while providing our business with greater liquidity and transparency,” said Luuk Strijers, CCO of Deribit. “We are excited to be the first exchange to integrate with Fireblocks Off Exchange and offer this new model of trading to a large ecosystem of institutional firms on the Fireblocks Network.”

Leading institutional trading firms like QCP Capital, Blocktech and Zerocap are using Off Exchange today to trade on Deribit. In the coming months, Off Exchange will support additional global exchanges including HTX, Bybit, Gate.io, WhiteBIT, BIT, One Trading, Coinhako, and Bitget.

Since its inception in 2018, Fireblocks has consistently strived to eliminate counterparty risk in the digital asset ecosystem, with pioneering innovations such as MPC cryptography, Non-Custodial Wallets, and the Fireblocks Network. The launch of Off Exchange marks an important milestone to further reduce counterparty risk in the crypto trading market, with an innovative approach that introduces new developments in MPC and blockchain technology.

For those interested in learning more about Fireblocks Off Exchange and the Fireblocks Network, please visit fireblocks.com.

Oort: Transforming cloud services with AI and blockchain tech 3828

Oort is redefining the blockchain space with its AI-integrated, privacy-centric cloud services. In Celebration of the Olympus Protocol mainnet launch on November 27th, 2023, we invite the first 1,000 Ale wallets that register to receive 150 Oort Tokens, redeemable upon their CEX listing in early Q1 2024.

Oort’s Layer 1 blockchain is the backbone of its decentralized cloud services, offering a promise of absolute data privacy and cost savings of up to 80% compared to traditional cloud service providers. This shift is vital for powering various AI services, emphasizing user data privacy and efficiency. Far from being merely conceptual, Oort’s approach combines practical solutions with robust technology and a team of experts, dedicated to transforming how cloud services are delivered and utilized.

What is the Olympus Protocol?

The Olympus Protocol, Oort’s DAG-based network, masterfully balances decentralization, scalability, and security. With over 28,000 nodes, rapid 2-second per block, competitive fees, and a scalable architecture, it’s anchored by their patented Proof of Honesty algorithm, ensuring a transparent and trustworthy platform.

Dr. Max Li, Founder of Oort: “Our patented consensus mechanism is key to ensuring the integrity and reliability of our platform, making it suitable for everyday use by businesses and individuals, regardless of their blockchain expertise.”

Proof Of Honesty

At the heart of Oort’s Olympus Protocol mainnet is the patented Proof Of Honesty mechanism. It not only verifies node integrity and data accuracy but also ensures fair resource distribution, keeping the ecosystem free from bad actors. Proof Of Honesty verifies the legitimacy of nodes as well as the data they are processing. In doing so, POH ensures that the Olympus Protocol incentive layer is distributing resources fairly.

Pioneering the global standard in decentralized AI cloud services

Oort’s innovative product suite, including DSS, TDS, and the upcoming DCS, is revolutionizing AI and decentralized services, offering enhanced security, affordability, and efficiency. These solutions form an integrated ecosystem, elevating AI and decentralized applications.

  • Oort DSS: revolutionizes data storage with heightened security and reduced costs, ideal for big data and AI algorithms.
  • Oort TDS: simplifies AI integration into business processes, enabling the creation of AI agents quickly and cost-effectively.
  • Oort DCS: launching in 2024, will bring scalable, cost-effective computing power, essential for intensive tasks like machine learning.

Vision in action: Oort’s practical decentralization

Oort’s commitment to practical decentralization shines with over 3000 active users. Our collaboration with Dell Technologies in North America, integrating Oort DSS into their loyalty program, marks a milestone in Web3 product adoption, further bolstered by partnerships like Tencent Cloud.

Unprecedented partnerships and support

Oort’s growth is fueled by backing from Ivy League faculties, renowned crypto VCs including Emurgo Ventures (Cardano Foundation), and significant startup grants from Microsoft & Google, highlighting industry confidence in our vision.

A team of visionaries

The core team at Oort is a blend of talent from world-renowned organizations, including Columbia University, Qualcomm, AT&T, and JP Morgan. This diverse expertise converges to create a platform where user privacy is a priority, and efficiency is unparalleled.

A special opportunity for early adopters

To commemorate our mainnet launch for Olympus, Oort announces an exclusive airdrop for new Ale Wallet users that register for this event. Join us and receive 150 Oort tokens, with listings planned for Q1 2024. This offer is more than a token gesture; it’s an invitation to join a community dedicated to privacy, efficiency, and groundbreaking innovation.

Stepping Up the Trading Game: FXGT.com Introduces Pro and ECN accounts 3877

The trading arena today is more active than ever, which means that brokers need to make a great effort in order to cater to the ever-evolving demands of market participants. Tapping into this understanding, the globally noted broker FXGT.com is now elevating its game. With the launch of their FXGT.com Pro and ECN accounts, the firm is rolling out the red carpet for advanced and professional traders with a thirst for exceptional working conditions.

“We have always been steadfast in our dedication to empowering every trader with seamless services and unwavering reliability,” stated a spokesperson for FXGT.com. “After months of hard work, our ECN and Pro accounts are nothing short of a revolution in terms of excellent trading terms. We’ve put an emphasis on the things that our more experienced clients require, such as asset variety, raw spreads, flexible margins and much more. We invite every trader who is dissatisfied with what their broker currently offers to check out the advantages of our Pro and ECN accounts, which are now available on our website.”

Bigger, faster, better

Among the many interesting features of FXGT.com’s new Pro and ECN accounts, some elements are especially worth noting. While the Pro account guarantees commission-free trading on no less than 10 different asset classes, traders who choose the ECN accounts can enjoy spreads that go as low as zero, alongside negative balance protection and the option for a 40% stop-out bar. Both accounts are coordinated with the reputable MetaTrader 4 and 5 platforms and mobile apps.

The spokesperson for FXGT.com also empahsized that all clients can benefit from these accounts, regardless of their trading background, as well as from the other accounts that the broker currently offers.

About FXGT.com

FXGT.com is an FSA-regulated brokerage firm that offers an extensive range of features for its clients The brand enlists a diverse mix of assets: from classic forex and stocks to the avant-garde realm of NFTs and crypto. Moreover, the broker integrates the prowess of MT4 and MT5 terminals, amplified by the VPS sponsorship facility. The broker also assimilates 24/7 multi-lingual support and four account types, enhancing diversification optionality. Functioning more than just a brand, FXGT.com ensures that traders are equipped with the right toolkit to stay ahead in the competitive trading arena.

Website: https://fxgt.com/

Gaming Revolution! SpookyZ’s technology instantly transforms any game you love into a Play-To-Earn Web3 game 4827

SpookyZ Gaming Studio is disrupting and reinventing the future of gaming by creating the first truly agnostic universal inGame wallet and payment gateway platform integrated with its own native token (SPZ). This key innovation allows SpookyZ’s technology to be seamlessly integrated into any existing classic Web2 or MMO game turning it instantly into a Web3 Play-To-Earn game, bringing new life and excitement to the games you love. SpookyZ is currently integrating the best in class multiplayer adventure games like Grand Theft Auto and DayZ, layering them with our technology to enable instant Play-to-Earn (P2E) immersive functionality.

SpookyZ’s technology is bridging the gap for traditional Web2 gaming studios to seamlessly enter the fast growing Web3 games market which is projected to grow to $67 Billion by 2027, by simply integrating and layering our technology effortlessly to their existing games.

SpookyZ has created a new metaverse ecosystem with innovative gaming economies, monetization models and game asset tokenisation, which is integrated with our SPZ native token. This ensures that gamers can earn real-world money while playing their favorite games, with an advance inGame wallet that seamlessly connect to MetaMask and other secure wallets allowing tokens to be freely traded, swapped, sold using both DEX and CEX exchanges ensuring unprecedented transparency of all inGame digital transactions. SpookyZ is providing the most sophisticated inGame economic model that can be easily and cheaply integrated into existing Web2 games, bringing a previously unimaginable layer of inGame dynamism to classic games we all love.

SpookyZ have implemented a simple, sophisticated inGame tokenomics model that always ensures that 2% of all transactions are burned, a 5% tax on transactions and 3% of SPZ tokens are paid to the inGame reward pool. SpookyZ has passed a comprehensive and stringent technology and Smart Contract Audit and KYC compliance conducted by SolidProof, a leading Tier-One German Blockchain Security Company. Giving Web2 gaming studios total confidence when integrating our technology including our investors, gamers and community.

SpookyZ allows players to have full access to all information about transactions, providing a Provably Fair and secure platform for total inGame peace of mind. Our technology gives gamers the ability to use their skills to make real-world money and build profits from playing their favorite games. How much money they make depends entirely on their inGame strategy and skill level, the possibilities is endless.

Another key SpookyZ innovation is that gamers will have full digital ownership of all their assets including any SPZ tokens. They have complete freedom to use, trade, swap, store, sell or cash out for real-world money, the choice is completely theirs.

SpookyZ have assembled an expert multidisciplinary team that is absolutely passionate about the transformational power of Web3 gaming. The aim of our team is to fundamentally change the way games are perceived and played. Our technology which can instantly transform any existing Web2 game into a dynamic Web3 game seamlessly is now commercially available bringing a new era in gaming. We are keen to work, collaborate or partner with investors, distributors or content creators. Please feel free to reach out to our team and let’s build the future of Web3 gaming together.


SpookyZ is disrupting gaming by utilising Blockchain to create new inGame economies and asset tokenisation that allows gamers to earn real-world money in our metaverse .We have created an agnostic universal integrated crypto wallet and payment gateway platform with its own native tokens (SPZ) that can be integrated into any Web2 game enabling it to become a Web3 P2E game, seamlessly bringing Blockchain and crypto to the masses.

Klever announces major investment commitment of $20M from GEM Digital Limited 5378

Klever is overjoyed to announce a defining moment in our pursuit of blockchain innovation: a remarkable $20 million investment commitment from GEM Digital Limited. This significant infusion, equally distributed with $10 million dedicated to each of our KLV and KFI tokens, is a resounding vote of confidence in our vision to transform the world of blockchain and web3. At Klever, we’re passionately crafting a future where blockchain technology and crypto wallets aren’t just powerful and secure but also incredibly user-friendly and inclusive. This milestone is a giant leap forward, reinforcing our unwavering commitment to innovation and our goal to democratize and make finance accessible for all.

Klever: A P2P Network For Everyone

Klever is a p2p network for everyone and is the embodiment of our commitment to pursue the dream of creating the most user-friendly and inclusive blockchain ecosystem.

At Klever, we’re driven by a core belief: Finance should be accessible to everyone. Since launching our first blockchain wallet in 2017, our mission has been to make finance universally accessible and free. We strive to unravel the complexities of blockchain technology, transforming it into a user-friendly blockchain tool for daily life. Today, with a fully-fledged blockchain ecosystem, we enable users to effortlessly invest, stake, create, and manage decentralized digital assets on one of the most sophisticated blockchains in existence.

For the first time, people in Nigeria can pay for food and goods using our Klever Wallet.

We’ve witnessed the challenges faced by developers and users in navigating the complex landscape of blockchain technology. Our solution? A platform where anyone, regardless of their country, beliefs, or technical expertise, can build and interact with blockchain technology. We make it so easy that everyone can use it.

Finance is complex and financial services are often exclusive, slow, expensive, and complicated.

We have found an opportunity to provide a blockchain hub and financial tools beyond the boundaries of social status, gender, religion, or nationality.

Looking ahead, this significant funding will accelerate our mission to make p2p financial services borderless, open, and accessible to all through our public blockchain network. We’re making waves towards a more inclusive, innovative, and user-friendly digital world.

Reinforcing the Open Source Movement

Klever’s investment in the open-source movement signifies our dedication to transparency, collaboration, and community-driven innovation. We believe that by embracing open-source principles, we can accelerate the development and adoption of blockchain technologies, making them more robust, secure, and versatile. This commitment to open source reflects our ethos of empowerment, inclusivity, and continuous learning within the blockchain community.

Control and Strategy in Token Utilization

Importantly, the decision to sell the tokens under this agreement rests entirely with Klever. We maintain full control over the timing, pricing, and quantity of tokens sold. This strategic approach ensures that our actions align with market conditions and our long-term vision, underscoring our commitment to responsible and thoughtful expansion. By retaining this control, Klever ensures that the investments are executed in a manner that best serves our community, stakeholders, and the overarching goals of our ecosystem. Through this multi-faceted approach, Klever is not just growing its financial and technological capabilities but is also strengthening its role as a leader in Blockchain and Web3, paving the way for a more inclusive and innovative digital future.

About GEM Digital Limited

GEM Digital Limited is a digital asset investment firm. Based in The Bahamas, the firm actively sources, structures, and invests in utility tokens listed on over 30 CEXs and DEXs globally.

Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group with offices in Paris, New York, and Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 530 transactions in 72 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments.