The Development of the Web3 World and the Evolution of Wallets

The emergence of smart contracts has sparked people's imagination to build a global computer. Various decentralized applications (DApp) have sprung up like mushrooms after rain, covering multiple areas such as trading, lending, gaming, and NFTs. The security of blockchain and the convenience of smart contracts have greatly simplified the on-chain development process, while each DApp can also achieve innovative combinations through smart contracts.

According to statistics, as of August 2022, the total number of DApps on various public chains has exceeded 4,000, and is still growing at a rate of dozens per month.

The address is the basic unit for users to interact with smart contracts. Unlike real-world addresses and exchanges, on-chain addresses can be completely anonymous, requiring no KYC, and users can freely create and operate multiple addresses. Having an on-chain address is what truly signifies entry into the crypto world. According to official Ethereum data, as of August 2022, the cumulative number of addresses has surpassed 200 million, with a daily transaction volume exceeding 1 million.

Blockchain and smart contracts enable users to truly take control of their data and assets, which is also the most important feature of Web3. The tool for managing these data and assets is the Wallet. The Wallet can be said to be the gateway to the Web3 world, similar to how a browser is to the internet. As a key infrastructure in the crypto world, the Wallet encompasses all on-chain asset and data-related operations, including trading, holding, transferring cryptocurrencies, as well as derivative operations such as staking.

From the development history, wallets can be roughly divided into paper wallets/brain wallets, hardware wallets, software wallets, and other key custody solutions. For most users participating in DeFi, NFT trading, and gaming, software wallets are the most widely used option. Taking the currently most popular software wallet, Metamask, as an example, its monthly active users have exceeded 30 million. After users install the wallet, they will receive a string of mnemonic phrases composed of 12 or 24 ordered English words, with a set of mnemonic phrases corresponding to the private keys of multiple addresses, used for account recovery and migration.

For crypto newcomers, properly securing the mnemonic phrase is the most important first lesson. One of the costs of decentralization is that users must take full responsibility for their accounts and wallets, with no centralized entity available to assist in "recovering passwords." Once the mnemonic phrase is leaked, the user's wallet is effectively handed over. After becoming familiar with the secure operations of wallets, users can begin to explore the vast world of Web3. Among the many software wallets, what kind of wallet can truly be called a "good" wallet? We can look for the wallet characteristics that best meet user needs based on the current trends and hot topics in the crypto world.

The Rise of Multi-Chain Ecosystems: From Monopoly to a Strong Alliance of Many

The DeFi boom in 2020 and the rise of GameFi in 2021 attracted a large influx of funds into on-chain financial activities such as mining and arbitrage. Ethereum sacrificed speed while ensuring decentralization and security, and the surge in computational demand also led to high transaction fees, making it difficult for small users to bear the trading costs. To reduce user costs and improve speed, multiple public chains have rapidly emerged, changing the dominance of Ethereum.

From Ethereum-based L2 solutions like Polygon to exchange-dominated public chains like BNB Chain and Solana, and then to various EVM-compatible platforms such as Fantom and Avalanche. Although many innovative DApps were initially proposed based on Ethereum, the compatibility of EVM makes migration relatively easy. According to data, as of August 21, 2022, the top five in terms of seven-day active addresses are BNB Chain, Ethereum, Polygon, Ronin, and Avalanche, with BNB Chain having 2.94 million active addresses due to its game-friendly nature.

In terms of the total locked value ( TVL ) in DeFi, Ethereum remains the absolute leader, accounting for more than half of the total chain TVL, but this share is gradually declining. A multi-strong pattern has already formed, and users hope to conveniently manage their multi-chain assets and achieve cross-chain operations.

Staking Becomes Mainstream: From POW to POS

The POW consensus mechanism of Bitcoin has long faced criticism for resource waste. To address this issue, POS was innovatively proposed and quickly became the mainstream consensus mechanism for various new public chains. Ethereum is also set to complete its transition to POS in September 2022, marking the ETH 2.0 upgrade. Ordinary users can participate in staking with a small amount of tokens through DPOS( delegated proof of stake) or SaaS( staking as a service) platforms like Lido, without the need to stake a large amount of tokens to become validators.

It can be said that staking is becoming the most convenient way for ordinary users to enter the new public chain ecosystem. While users participate in staking to ensure the secure operation of the blockchain, they can also earn staking rewards. Therefore, the security and experience of staking are also important considerations for users when choosing a new POS public chain.

One-stop entry: Adapting to the rapid iteration of Web3

Despite the dazzling innovations in DeFi, it is just one application scenario in the Web3 world. DAOs, games, the metaverse, and other scenarios that have yet to be imagined and created will jointly shape the blueprint for the future of Web3. More than 50 years after the birth of the internet, few industries, like Web3, continue to emerge with exciting new knowledge, new technologies, and new demands; the rapid development of Web3 is truly astonishing.

In the Web3 era, the past "login with Google account" + "login with Facebook account" + "login with WeChat account" + ... will all be replaced by wallet login. It can be said that the wallet is the primary entrance to the Web3 world. Faced with the complex and ever-changing Web3 industry, users need a wallet that allows them to explore upon entry, directly accessing various DApps for a "one-stop" experience.

Omni: Build a One-Stop Super Application for Web3

In summary, we have concluded that users have a demand for an excellent Wallet based on the current market trends, namely a seamless experience across multiple chains, convenient staking channels, and exploration features for the Web3 world. Omni is such a Wallet that not only meets all the above requirements but also boasts an extremely exquisite UI design. Additionally, Omni supports essential functions such as fiat deposits for mainstream Wallets, importing Wallets, connecting hardware Wallets, and asset price displays.

Multi-Chain Asset Management

After the user installs Omni, they can choose to create a new Wallet or import an existing Wallet ( that supports Metamask, Kepler, Phantom, or Omni ), and they can also choose to observe others' addresses. To import a Wallet, simply select the original Wallet and paste the mnemonic phrase. To ensure maximum security, Omni also supports hardware Wallet connections, allowing users to easily connect their accounts and keep their private keys offline and secure.

After entering the Wallet account, Omni's homepage displays the user's multi-chain assets, ENS domain names, as well as direct access to staking and quick buttons for multiple DApps. Omni supports over 25 public chains, including EVM-compatible chains such as Ethereum, Avalanche, BNB Chain, non-EVM chains like Solana, Near, and Cosmos, as well as L2 networks like Polygon, Arbitrum, Optimism, and StarkNet.

Omni supports NFT display on Ethereum, Polygon, Avalanche, Binance, Fantom, Solana, and Arbitrum, with new support added almost every week. Users can view all NFTs in one interface and set their favorite NFTs as the home screen background.

Omni collaborates with payment service providers to support direct purchases of cryptocurrencies using debit and credit cards. As a multi-chain wallet, native cross-chain bridge support is also essential. Users will soon be able to start using the native cross-chain asset conversion feature, supporting asset transfers between different EVM chains, as well as non-EVM chains ( such as Solana and NEAR ).

Omni provides price tracking features for a variety of cryptocurrencies, including native assets like AVAX, BNB, ATOM, MATIC, as well as staking tokens like stETH, stMATIC, and even integrates Yearn's yield aggregation products. Users can easily perform various operations directly from the Omni homepage with just a few clicks.

Three-Step Staking and Yield Aggregation

The predecessor of the Omni Wallet was called Steakwallet( Steak Wallet), where steak and stake( are homophones, which is precisely due to Omni's iconic "three-step staking" feature. Whether you are a newcomer unfamiliar with the staking concept or a DeFi veteran, Omni has greatly simplified the operation process, allowing users to complete staking directly within the wallet through three simple steps without the need to access other protocols or DApps.

Taking ETH staking on Lido as an example, users only need to click on stETH, then click "Stake" on the new page, select the amount of ETH, review and confirm the transaction. The entire process is quick and simple, without the need to leave the Wallet to access other DApps.

![How to turn a Wallet into a Web3 super application?])https://img-cdn.gateio.im/webp-social/moments-269fd11eeb3cee873d9bb6c65e6dccb7.webp(

The three-step staking supports more than 15 public chain assets, and users can also perform regular investments through different staking service providers. Omni collaborates with several protocols to support staking assets such as sAVAX, stETH, stMATIC, and stSOL.

Omni natively supports Yearn's yield aggregation strategies on Ethereum and Fantom, allowing users to easily obtain optimized aggregated yields. Compared to the cumbersome steps of visiting the Yearn website and connecting a Wallet, users can directly participate in yield aggregation in Omni with just three clicks.

![How to turn a Wallet into a Web3 super application?])https://img-cdn.gateio.im/webp-social/moments-65cc1e57a64ae854609afccc73c35f29.webp(

) Explore the Web3 World

The Omni exploration interface provides users with a comprehensive window to understand the different ecosystems supported by Omni, including the latest updates, news, native integrations of specific ecosystems, and DApp options across various industries.

The exploration page is divided into several sections:

• Overview

• Latest Update
• Weekly special, focusing on popular topics in Web3
• Weekly News
• Popular DApp Collection ### DeFi, NFT platforms and markets, etc. (

• Ecosystem part

• The latest updates from various ecosystems
• Native integration of protocols within the ecosystem
• Top DApps in the ecosystem classified by lending, DEX, GameFi, yield aggregators, etc. )