On February 6th, ARK, the first open, composable Smart Chain platform with the atomic swap technology, hosted an AMA session with us in their Slack group. Our CEO Konstantin Gladych and PR Manager Christine Khachatryan were present in the discussion with the ARK community.
Here are the essential points of the AMA session:
Please welcome Konstantin (K), C (Christina) and the questions from the ARK Slack chat members (Q).
Q: Will Atomic support staking ARK in the near future?
K: We already have around 10 assets for staking in Atomic Wallet like Tezos (XTZ), Cosmos (ATOM), etc. We are planning to add a bunch of new assets this year. ARK is definitely on our list.
Q: DeFi is one of the hottest topics in the blockchain space right now. Can you share your opinions about DeFi with us? Do you think DeFi will disrupt the existing financial system? What is Atomic Wallet’s approach towards the DeFi sector?
K: We are planning to add the most popular DeFi use cases in Atomic Wallet’s native interface like borrow and lend tokens.
Q: Which tokens do you find easiest to integrate to your wallet?
C: ERC20 tokens can be easily added as well as custom tokens you like but the tokens with separate blockchains need deep research and it takes a little time.
Q: Do users have the private keys to coins in the atomic wallet?
K: Atomic Wallet is a non-custodial wallet. Your private keys are encrypted and never leave your device. Basically, Atomic Wallet is just an interface. All your funds are safe on the blockchain.
Q: Do you have any statistics page for how many wallets are generated per coin or token or how many coins or tokens a certain wallet holds?
K: Atomic Wallet is an anonymous wallet. It does not collect any data to our servers except anonymous logs in case you have troubles with the app. You can disable logs collection in the settings.
Q: Multi-currency wallets are becoming very popular now. What makes Atomic Wallet stand out among other popular wallets such as Exodus?
K: We provide a better user experience. The market is huge and growing. It’s an enough place for everyone. We compete mostly with banks rather than with each other. We prefer to focus on our product, users support and education in crypto.
Q: Does it cost money to integrate bridgechains?
K: Each integration costs resources. We charge depending on the project, how big the community is, how cool the technology is, how much the trading volume is, and other various factors.
Q: Which partner offers fiat in/out?
K: Currently it’s Simplex. Soon we will add more partners for fiat gateway.
Q: How many developers does Atomic Wallet have?
K: Our team has more than 20 people. We have 8 technical guys, developers, admin, project, 5 in marketing and business development. 6 in user support and me.
Q: How did you get funding to start the project? Did you do an ICO for the AWC token?
K: Atomic Wallet is fully self-funded by me. We planned an ICO but it was cancelled. We are profitable for over a year despite the bear market. We became profitable in 6 months after the start.
Q: Do you have any upcoming features to be excited about?
K: Many features coming this year like lightning support, localisation, more assets for staking, DeFi use cases, etc. You can check our 2020 roadmap at https://atomicwallet.io/roadmap-2020.
Q: Blockchain is a rapidly-changing industry. Can Atomic Wallet’s infrastructure design be promptly changed to be suitable with new blockchain updates?
C: We try to be always up-to-date in the industry as the user satisfaction and comfort are the priorities and main focus for us. Almost every 1.5 to 2 weeks, we release updates, keeping up with everything that is happening in the crypto world.
Q: Do hardware wallets work with the Atomic Wallet?
K: It is not yet supported. Hardware integrations like Trezor and Ledger are planned for this year.
Q: What have been some of your biggest challenges since starting Atomic Wallet?
K: I think the biggest challenge is to support all these tons of assets existing on the market and make an easy interface for the users as we have a lot of newcomers in crypto.
Q: How does your staking model work? How do you encourage your users to do staking?
C: The main thing about staking in Atomic Wallet is that it is decentralized and with zero fees. All rewards users get are directly from validators and the response is great so far. Not much staked but the yields are pretty awesome. You can check them out yourselves.
We were glad to be hosted by ARK on their Slack group. Thanks to all the members of the session!