Grant Proposal: Funding for Trustee Wallet

Governance & Proposals
1

Hello, community!

Recently our users have started to take an active interest in the Terra (LUNA) blockchain, the popularity of the coin is paying off. We are regularly asked if LUNA is in Trustee and if it will be added. We always listen to our users and are always ready to give them the best, considering that Terra, like us, promotes the principles of decentralization, cryptocurrency mass adoption and is quite a unique project in terms of technology.

We discussed with the team and decided that integrating Trustee wallet into Terra ecosystem would be a very good solution, which would increase not only the number of Terra (LUNA) users, but also the number of Trustee wallet users. With this grant application, we want to address two important issues: giving Trustee wallet users access to Terra’s blockchain capabilities and giving LUNA users Trustee wallet technical capabilities.

Of course, such a task will require certain labor and financial costs, which is why we decided to apply for a grant.
We publish our request with a description and details.

Grant Proposal: Funding for Trustee Wallet

  • Project Name: Trustee Wallet
  • Team Name: Trustee Wallet
  • Payment Address: terra1gfwahz20lqcfwzr05pjst4328ztfwwklm4wsug

Project Overview

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Trustee Wallet is the easiest and safest way to store, buy and sell cryptocurrencies with Visa/MasterCard bank cards. Over 500,000 users around the world trust and use Trustee. The application allows you to connect to DeFi services, supports many coins, staking, NFT and thousands of custom tokens on various blockchains. Trustee Wallet is open source and available for Android and iOS users in 160 countries.

Overview

  • Decentralization and anonymity;
  • 29 blockchains supported;
  • Users can store, receive and send default and any custom tokens on networks: ERC20, BEP20, TRC10/20, Solana, Fantom, Polygon;
  • Users have open access to DeFi services and can store NFT on Ethereum, BNB Smart Chain and Polygon with 721 and 1155 standards;
  • Users can buy, sell cryptocurrencies via bank card or exchange them within the application;
  • Staking different coins;
  • There is a large knowledge base about cryptocurrencies;
  • Our support team works 24/7 for all users.

Project Details

The basis for the successful integration of the Terra blockchain into the wallet is already in place. Based on previous integrations, for Terra (LUNA) will be implemented:

Ecosystem Fit

Currently, there are not many non-custodial multi currency wallets that integrate Terra (LUNA) blockchain.
Trustee Wallet is ready to provide its more than 500,000 users with secure storage, transfers and stacking of Luna cryptocurrency. And also a convenient place to swap other cryptocurrencies into Luna cryptocurrency. Unlike other wallets, Trustee has a built-in system for buying, selling and swapping cryptocurrencies.

Team

Team members

  • Vadym Hrusha - CEO and founder of Trustee Wallet
  • Kseniya Zhytomirskaya - CTO Trustee Wallet
  • Roman Grusha - DevOps engineer
  • Vladislav Karavan - PM of BSE

Contact

Legal Structure

  • Registered Address: 300 Delaware Avenue, Suite 210-A, Wilmington, DE 19801 in New Castle County
  • Registered Legal Entity: BLOCKSOFTLAB INC

Team’s experience

Vadym Hrusha - CEO and founder of Trustee Wallet (15 years in programming and 10 years in entrepreneurship and leadership)

Kseniya Zhytomirskaya - CTO Trustee Wallet (10 years of commercial projects technical leadership. Full Stack Developer and Architect)

Roman Grusha - DevOps engineer (15 years of experience)

Vladislav Karavan - PM of BSE (3+ years of experience. High level of proficiency: JS/C++/C#)

The team also includes designers and front-end developers on React Native.

Team Code Repos

GitHub accounts of all team members.

Team LinkedIn Profiles (if available)

Development Status

Trustee Wallet is a successfully implemented project and working open source software. It has been on the market since 2019. Of the 29 supported blockchains, TRX, SOL and VET staking is available in the wallet.

Now there is a request from our users to implement Terra (LUNA) blockchain into Trustee Wallet.

Development Roadmap

Trustee Wallet offers to add Terra (LUNA) to our mobile wallet.

The wallet will have the following functions:

Receive - will provide the user with the Terra wallet address to top up. The address can be obtained in the following ways:

  • by scanning the QR code to retrieve the address,
  • tapping the copy button to copy the address to your phone’s clipboard,
  • tapping the share button to share the address with another application, such as Telegram.

Send - will allow the user to send LUNA to the address of their choice. The user can also scan the QR code or paste the address. The sending process consists of two steps:

  • Select an amount to send. The user can either enter the number of coins to transfer or enter the equivalent dollar amount. You can also use the quick buttons to select the % of the balance to send.
  • On the second step, the user is prompted to confirm the amount to be sent and the address.

Balance - shows the balance of Terra wallet both in its own tokens LUNA, and in other variants: several fiat currencies, BTC and USDT.

History - shows the history of transactions made on this wallet. That is, all receipts, sends, delegations, etc. will be listed.

Staking - provides a section for stacking Terra (LUNA) coins. The staking will contain:

Delegation - we will provide an interface where the user can select the validators they want to delegate coins to.

Claiming rewards - if there are rewards available, the user can collect them or re-delegate them.

Wallet Recovery/Wallet Backup - Like all wallets, we provide functionality for wallet recovery and backup. Users can enter their mnemonic phrase and restore a wallet or back up a wallet and access their initial phrases.

Ability to create multiple wallets - the user will be able to create multiple Terra wallets on one device.

Provide exchange function - Trustee wallet offers many exchange destinations, we will include LUNA as an option to exchange for other cryptocurrencies and tokens.

Providing cryptocurrency purchases - We provide functionality for our users to buy cryptocurrencies using credit cards and electronic payment systems. We use multiple exchange providers to be able to do these transactions. We will be expanding this functionality to include Terra (LUNA).

The user will have full control over the seed phrases, the user will be responsible for backing up and being able to restore to other wallets

Overview

  • Total Estimated Duration: 3 months
  • Full-Time Equivalent (FTE): 5
  • Total Costs: 50,000 USD

Milestone 1 — Implement Terra Modules

  • Estimated duration: 1 month
  • FTE: 3
  • Costs: 30,000 USD

We plan to deliver the basics in phase 1 that will include:

Base code: add Terra (LUNA). Solutions used to generate transactions, securely store mnemonic phrases, sign and broadcast transactions.
Balances of Terra accounts.
Send & Receive LUNA.
History of transactions.
App design adaptation.

Milestone 2 — Implement staking Luna

  • Estimated Duration: 1 month
  • FTE: 2
  • Costs: 15,000 USD

We plan to deliver more features in Milestone 2, the following:

Luna staking features (base code).
Delegating, Delegation updates.
List validators.
Claiming rewards.
Adapting the design in the staking section.

Milestone 3 — Implement Terra tokens and swap functions

  • Estimated Duration: 1 month
  • FTE: 2
  • Costs: 5,000 USD

In the third phase, we plan to connect exchange destinations with the LUNA token in the Swap section, update the knowledge base on our website to include a manual on LUNA staking, release the beta versions of the app for GooglePlay and iOS stores for testing, and conduct extensive testing.

Future Plans

In the short term, the goal is to allow existing users to earn assets using the PoS consensus algorithm. Introduce popular and in-demand coins, including Terra (LUNA). Increase the number of trading destinations with this token, add support for the most popular Terra blockchain tokens.

The main and priority goal when developing the wallet was and still is to expand functionality, increase the number of supported assets, expand the user base and provide users with a quick and convenient entry point into the world of cryptocurrencies.

Additional Information

How did you hear about the Grants Program?
Terra Website: Terra Money - Grants

3 Likes
2

I will vote Yes for this proposal. Keplr wallet it’s doing similar ways to add support for other chains and they are using the community funds.

2 Likes
3

Trustee Wallet & Terra it’ll be cool

1 Like
4

No. You’re asking for a community grant to support your commercial product. There’s no reason why the community should support this. If it did it would open the floodgates for similar proposals.

5

Thank you for your response.
It’s a little off.
We posted a grant request to integrate the Terra blockchain and its features. This is not financial support for our project, it is exactly a grant proposal to integrate the Terra blockchain and its features into the wallet. Any development, refinement, improvement or upgrade requires not only time, but also material costs, as you understand. All stages of implementation of the protocol we have painted in the proposal

6

You want to integrate the Terra blockchain into your commercial product so that you can increase your profits. That’s not something the community should be paying for.

It’s part of the normal R&D process. You should invest your own funds into expanding your product. If the expansion is worthwhile you will see an increase in profits and will recoup your investment. If it’s not worthwhile you will have lost your investment.

What you’re asking for is the community to pay for the expansion of your product. If the expansion is worthwhile you will have increased your profits and the community will have footed the bill. If it is not worthwhile, you will have lost nothing and the community will have again footed the bill.

7

Trustee Wallet is a non-custodial wallet. For storage, forwarding, receiving and staking, our company does not charge any interest or its own commissions.

The commercial part of the wallet is only trading operations.
Integrating into a Terra blockchain wallet is first and foremost about expanding Terra’s user base. Giving users not just a wallet, but a multi-currency wallet with additional features.

8

You expect that if you receive this grant you will increase your userbase, thereby increasing your profits, right?

9

No. To increase our profits, we can configure and enable the purchase of Luna to a third-party address without integrating blockchain support.

The question is precisely in full integration.

We want to give our users the opportunity not only to swap, but also to store, receive, send, and staking Luna. And tokens support.

This will primarily increase the user base of the Terra blockchain, and after some time, ours. Not the other way around.

10

So, we’re going round in circles here. My last comment. You are a commercial organization. Your goal is to make money. You want this grant to increase your userbase and to make more money.

I see no reason that a community grant should be used to subsidize your commercial activities. You should your own funds to expand your product.

11

Thank you for your support

12

This is a rather strange opinion. The grant program was created primarily to increase the community and ecosystem of Terra. Considering the number of Trustee users who will be able to learn about Terra and interact with it, I think this is a good proposal. In addition, comercial organizations and individuals can participate in the grant equally.

Trustee, unlike other services, offers good functionality that is not found in any crypto wallet, of course, this requires costs, which in the end will benefit both. Therefore, I think that the community should consider this proposal.

1 Like