Ethereum, the second-largest cryptocurrency in the world with a thriving developer community, introduced the ERC-4337 standard. One of the first people to use the new standard was Jiajun Zeng, a former product manager at Meituan, a leading provider of on-demand services in China, and ByteDance, the parent company of TikTok. His initiative, Soul Wallet, secured $3 million in seed funding to provide an online, self-custodial Ethereum wallet based on ERC-4337.
Backed with 3 million dollars, Soul Wallet Announces New Goal
“After the FTX implosion, people are refocusing on how to achieve a better user experience on a self-host wallet,”
Zeng
Soul Wallet is the implementation contract. It is in charge of the wallet’s basic logic. This strategy avoids data conflicts in slots when compared to the default contract storage from slot 0, and it also makes it simpler to upgrade the logic contract in the future.
About Seed Round
On the other hand, names such as Game7DAO, Dispersion Capital, Struck Crypto, and NGC Ventures also took part in the investment round. The round also included angel investors such as Ryan Sean Adams and David Hoffman.
According to Zeng, Soul Wallet is presently undergoing internal testing and is anticipated to go live in Q3 or Q4 following several rigorous audits. Twelve people from the United States, Japan, Thailand, and China make up the team.
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