Zengo Wallet Integrates THORChain for Low-Fee, Secure Self-Custodial Swaps
James Ding Jul 17, 2024 01:43
Zengo Wallet launches an in-wallet swap solution powered by THORChain, offering low-fee and secure self-custodial swaps for users.
Zengo Wallet, a leading self-custodial wallet known for its no seed phrase vulnerability, has integrated THORChain to launch a new in-wallet swap solution. This integration allows users to swap native assets such as Bitcoin (BTC), Ethereum (ETH), and many others, without compromising the custody of their assets, according to Nine Realms.
Enhanced Security with MPC Technology
Zengo Wallet utilizes Multi-Party Computation (MPC) technology to eliminate the need for seed phrases, enhancing security by preventing phishing and hacking attempts. Since its establishment five years ago, no Zengo wallet has been compromised, making it a trusted option for crypto enthusiasts. The wallet supports multiple chains, including Bitcoin, Ethereum, Polygon, Arbitrum One, Optimism, Base, Dogecoin, and Tezos, among others.
THORChain’s Role in the Integration
THORChain is a decentralized liquidity protocol designed to facilitate secure cross-chain swaps. It employs Threshold Signature MPC technology to secure native assets across various chains. By integrating THORChain, Zengo aims to provide an on-chain alternative to centralized exchanges, allowing users to maintain self-custody of their assets while enjoying the functionality of an exchange.
Shared Vision for Self-Custodial Solutions
Both Zengo and THORChain share a vision of advancing self-custodial solutions in the cryptocurrency space. Their collaboration leverages MPC technology to enhance the security and usability of self-custody. This partnership aims to bring the convenience of centralized exchanges directly to users' wallets, making asset management more secure and efficient.
Additional Features and Support
Zengo offers 24/7 live in-app support and a premium Pro subscription that includes advanced security features such as Theft Protection and Legacy Transfer, an inheritance-style feature. The integration with THORChain further enriches the user experience by providing low-fee swaps without requiring users to surrender control of their assets.
Community Engagement and Upcoming Events
The Zengo and Nine Realms teams will host a joint session on Twitter Spaces (X) on Wednesday, June 17th, to discuss the integration and answer community questions. Users can join the conversation via the provided link: Twitter Spaces.
More Information on THORChain
For those interested in learning more about THORChain, several resources are available, including weekly Twitter Spaces, educational content on THORChain University, and update videos on GrassRoots Crypto. The community can stay informed through various channels, including Telegram, Discord, and Reddit.
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