We’re thrilled to share a summary of our very first AMA session on Discord in a new format, hosted by Alex, SMM Manager at GetBlock, and featuring Wrex from Gem Wallet. This session provided valuable insights into the workings of Gem Wallet, its unique features, security measures, and future plans. Dive into the detailed recap of our conversation below!
Introduction
Alex: We’re so glad to have you as our first guest here! Huge thanks for taking the time to join us and participate! Let's kick things off with a brief introduction. Could you tell us a bit about yourself and your role at Gem Wallet?
Wrex: GM everyone! Glad to be here. I'm Wrex, and I handle Marketing and Community at Gem Wallet. Excited to be here and looking forward to chatting with all of you about our project and any questions you might have!
About Gem Wallet
Alex: Can you give us an overview of Gem Wallet? What makes it stand out in the crowded crypto wallet market?
Wrex: In short, Gem Wallet is a non-custodial crypto wallet designed for an easy-to-use, seamless Web3 experience. It features multi-chain support and robust security, ensuring your assets are always safe. Most importantly, we are an open-source project, prioritizing the highest standards in security and privacy.
You can swap, stake, and manage your assets all within our native interface. We aim to make it your one-stop shop for all things crypto. We still have lots of features to build out, but we will get there eventually. Rome wasn't built in a day!
Gem Wallet Unique Features
Alex: You may have heard this question before, but it's one that interests many in our audience. With so many crypto wallets available, what makes Gem Wallet unique?
Wrex: One important aspect is certainly that our wallet is fully open source, unlike most other wallets. This ensures total transparency and allows anyone to audit our code.
We also have a dedicated, experienced, and crypto-native team with a strong background in both product development and the crypto space. That also means we eat our own dog food and constantly try out other products to stay ahead of the competition.
We are very community-focused, with a small tight-knit community where we hustle for each user. If you ask us to build out a feature, there is a very good chance that might happen.
Since the community is so small, our users receive support directly from the founders. We take support seriously, so you can expect an immediate response from people who know exactly how the product works.
We also provide extensive documentation and learning resources to help our users get the most out of our wallet and the broader crypto ecosystem.
But most importantly: Gem Wallet is laser-focused on building the one true multi-chain wallet with all functionality natively built in, making it a comprehensive solution for all your crypto needs. There is no second best!
Privacy and Security
Alex: It's nice to hear that you're powered with so many features! Another huge point of discussion is privacy and security. You've mentioned that Gem Wallet has a strong focus on that. Could you explain how Gem Wallet ensures the security of users' assets and data?
Wrex: Great question! Security and privacy are at the core of what we're building at Gem Wallet. Here are our key measures:
- Self-custody: Users have full control over their assets; we don't hold your private keys;
- Zero tracking: We respect your privacy by not tracking your activities;
Strong encryption: We use advanced and time-tested encryption techniques to protect your private keys; - Open source: Our code is open for audit to verify our security measures. And I can't stress this enough – we need more open-source crypto wallets;
- Bug bounties: We run bug bounty programs to incentivize security experts to find and report vulnerabilities.
Additionally, a lot of security with self-custodial wallets is up to the user. That's why user education is very important to us. We have a Learn section on our website where we teach users how to properly handle their crypto assets.
This also circles back to community, since we are always active and ready to help any user with any questions they have. A lot of times that makes the difference between a good and a bad decision for new crypto users.
Alex: Your emphasis on open-source wallets is undoubtedly a significant advantage of your product.
Wrex: Don't trust, verify! Anything less is just TradFi.
Handling Scams and Malicious Actions
Alex: Moving on, zero-tracking is a feature that ensures security, but isn’t it controversial? How do you handle scams or malicious actions involving your wallet? For instance, if scammers posted about using your wallet to scam people, what actions would you take?
Wrex: I think the better question is what "can" we do in this case.
Since we are a non-custodial wallet, our users have full control over their assets, which means there's nothing we can do to reverse transactions or recover funds after the fact if something bad happens to a user's wallet.
Our best approach is proactive user education and community support to help prevent issues before they even occur.
We aim to explain and educate our users on how to securely handle their crypto assets and how to spot and avoid scams and malicious actions. We stay very active in our community and offer immediate support to users who have concerns or need assistance.
Unfortunately, that doesn't always prevent these things from happening. Which is why we are also looking at ways to inform users better on our interface if they are about to interact with a malicious smart contract, for example, or want to send funds to an address that has been associated with malicious activities.
GetBlock's Role
Alex: I know you've been using GetBlock for a while now. Could you tell us about your experience with GetBlock and the specific use cases it serves for Gem Wallet?
Wrex: We basically use GetBlock's RPC service for almost every blockchain we support on our multi-chain wallet. So it's a very essential part of our infrastructure!
One example use case that affects users directly is that it allows us to fetch and parse blocks, which in turn lets us send push notifications to keep users informed and updated about their crypto assets.
We've tested a couple of different RPC services and concluded that GetBlock is the fastest and most reliable service out there!
Alex: Regarding your multi-chain feature, which chain RPCs does Gem Wallet use the most? I’m also interested in hearing about your personal experience and which chains you plan to implement in the near future.
Wrex: As I mentioned, we use GetBlock for nearly every chain we support on our wallet. As for the chains we plan to implement in the near future, it really depends on user feedback, our own preferences, and current trends. Since we are open source, projects can also add support themselves by contributing to our repo.
Personally, I'm excited about Monad and Berachain because I like their communities. As for me, I'm an ETH/Arbitrum Maxi, but I also occasionally use other L2s, Thorchain, Tron, and generally try out everything that's new.
Alex: By the end of our conversation, I got the strong idea that I should try Gem Wallet myself. Before we finish this section, I'd like to ask about your plans. Could you spotlight your goals for the next year or two?
Wrex: We have a very detailed public roadmap that everyone can access on our GitHub. To be honest, 1-2 years might seem like a long time, especially in the fast-paced world of crypto, but we’re committed to building the best and most reliable multi-chain crypto wallet out there.
We’re not settling for anything less than complete market domination. I'm confident we'll get there, especially with support from great partners like you. Stay tuned for exciting developments as we continue to innovate and improve!
Community Questions
Peter: How do you guys handle transaction fees? Do you have extra fees or just regular gas prices?
Wrex: We make it easy for the user by calculating the best balance between speed and cost when sending a transaction. Currently, we don't have extra fees for transactions, but there is a small fee of 0.5% for swaps and up to 3% for buying crypto with a credit/debit card. We might add an option to manually adjust fees in the future.
Peter: Can users suggest features on your Discord?
Wrex: Absolutely! Join our community and let us know what you'd like us to add. There's a high chance we'll listen and implement it eventually.
Alex: Thanks, everyone, for your questions and feedback! Huge thanks to Wrex for a great conversation. We had a wonderful time discussing Gem Wallet!
Wrex: Thank you, Alex! It was a pleasure to be here. Thanks for having me.
Check out Gem Wallet and join the growing community. Stay tuned to GetBlock’s Discord for more insightful AMAs. Not only that: Get help from our experts and community members, stay updated with the latest announcements, and access helpful resources. Join us and be part of the conversation!
