Finance
Expanding Use Cases: SubWallet Integrates Polkadot Bridges and Swaps with Easy UX
Global Banking & Finance Review®
Company
Hanoi, Vietnam, July 2nd, 2024, Chainwire
In the last two weeks of June, SubWallet announced support for Polkadot <> Kusama bridge and Polkadot <> Ethereum bridge on its browser extension, followed by the integration of the Asset Conversion pallet on its web dashboard that allows swapping among DOT, USDT, and USDC on the Polkadot Asset Hub network. These bridges and swaps are important updates that expand use cases of the Polkadot ecosystem, and SubWallet is the first to support them on a sleek UI with easy UX.
The second quarter of 2024 has witnessed many long-term developments in the Polkadot ecosystem moving into the production and launch phase. Notable among those are the Polkadot <> Kusama bridge and the Polkadot <> Ethereum bridge, both in the works for a few years now.
Unlike the majority of current bridges which are centralized to some extent, the Polkadot bridges are fully trustless and thus significantly reduce risks. For now, users can securely bridge DOT and KSM between Polkadot Asset Hub and Kusama Asset Hub, and several tokens including WETH and WBTC between Polkadot Asset Hub and Ethereum.
Another highlight in Q2 2024 is the Asset Conversion pallet on Polkadot Asset Hub that allows swapping between assets registered on the network. Ever since its inception, Polkadot Asset Hub has been wired to become the liquidity hub of the entire ecosystem, and the Asset Conversion pallet going live marks the crucial first step towards realizing that vision.
Innovative and pivotal these updates are, they appear inaccessible to users without a clean UI and friendly UX. That’s where SubWallet comes in. With 2.5 years of experience building a user-friendly wallet for the Polkadot ecosystem on three platforms, including browser extension, mobile app, and web dashboard with 1.6M+ downloads and 800K+ active users and devices as of June 2024, SubWallet is the first wallet to integrate the two bridges and Asset Hub swap.
“As a proactive agent in the Polkadot ecosystem, we follow ecosystem updates closely and are always one of, if not, the fastest to provide support. Polkadot has long been deemed unfriendly to users, and it’s our responsibility as the first touch point to change this belief. Bridging and swapping are crucial components of a flourishing DeFi landscape that Polkadot is heading towards and we want users to have the smoothest and easiest experience with SubWallet.” — Hieu Dao, Co-founder & CEO of SubWallet.
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Bridging is supported directly in the Transfer function and swapping in the Swap tab. Cross-chain transfer is embedded in the swapping process: if a user wants to swap DOT to USDT on Polkadot Asset Hub but only has DOT on Polkadot, SubWallet prompts the user to first transfer cross-chain from Polkadot to Polkadot Asset Hub, then make the swap. This built-in cross-chain feature also applies when users try to liquid stake with SubWallet with DOT from the Polkadot relay chain. This way, users can easily try out new features on a familiar UI/UX without having to navigate a third-party app and learn a new flow from scratch.
The quick integration received enormous support from the community. The official Polkadot X account reposted the announcements, followed by numerous KOLs making reposts.
With the mission of onboarding more users to the Polkadot ecosystem, SubWallet will continue to support new ecosystem updates as quickly as possible so that users will have an easy UX to try out these features. Follow them on X to stay up-to-date!
About SubWallet
With 1.6M+ installs and 800K+ active users and devices, SubWallet is the most used and most comprehensive non-custodial wallet solution for Polkadot, Substrate & Ethereum ecosystems. With the mission of bringing users closer to Web3, we envision a Web3 multiverse gateway through which users can enjoy multichain services with utmost ease and absolute security. Connecting and using blockchain-based applications is smoother than ever with SubWallet Browser Extension, SubWallet Mobile App, and SubWallet Web Dashboard. SubWallet is backed by the Polkadot Treasury, Moonbeam Foundation, and Polkadot Alpha Program.
CGO
Kate Ha
SubWallet
kate@subwallet.app
Asset conversion refers to the process of exchanging one type of cryptocurrency or digital asset for another, often facilitated by decentralized exchanges or specific platforms.
Decentralized finance (DeFi) refers to a financial system built on blockchain technology that operates without traditional intermediaries, allowing users to lend, borrow, and trade directly.
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