On Wednesday, May 24, Temple Wallet achieved a remarkable milestone as it unveiled a major update, introducing the TKEY token. With this release, Temple Wallet created history by introducing the first-ever wallet token on the Tezos blockchain.
Renowned as the leading non-custodial wallet in the Tezos ecosystem, Temple Wallet is widely celebrated for its extensive functionalities, including seamless interactions with Tezos DeFi protocols, secure storage of NFTs and tokens, as well as the capability to delegate TEZ. Since its inception in 2021, Temple Wallet has garnered a user base surpassing 250,000 installs.
In a recent major update, Temple Wallet further solidified its position as a frontrunner in the industry. The update incorporated exciting features such as iCloud and Google account creation, in-app swaps cashback, enhanced delegation options, and the introduction of the Temple Wallet Token "TKEY." Notably, a portion of the swap fees collected is utilized to burn Temple Tokens, contributing to the token's deflationary mechanism. The developers of the wallet officially announced these enhancements in a MadFish blog.
The introduction of the Temple Wallet Token serves multiple purposes. Not only does it reward users, but it also serves as a catalyst for promoting the overall Tezos ecosystem, with a particular emphasis on raising awareness about the Temple.
Tezos, the blockchain with which Temple Wallet operates, is a lPoS (liquid proof-of-stake) blockchain. The Tezos ecosystem boasts a diverse array of decentralized protocols catering to activities such as exchanges, staking, yield farming, lending, and other popular DeFi endeavors. Furthermore, Tezos has gained prominence for its vibrant NFT community, as evidenced by the #cleanNFT hashtag on Twitter.
In 2017, Tezos made headlines when it raised an impressive $232 million through crowdfunding, making it the largest Initial Coin Offering (ICOs). Since then, the ecosystem has continually evolved, attracting a growing number of users due to its low transaction fees and abundant opportunities for exploration and growth.
Disclaimer: The information provided in this release is not investment advice, financial advice, or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor) before investing or trading securities and cryptocurrency.