# 1Wallet

* [Demo on Harmony Mainnet](https://1wallet.crazy.one/)
* [Harmony's Wallet Strategy](https://twitter.com/stse/status/1390810619834638336)
* [Tweets on Updates and News](https://twitter.com/1wallet_)
* [Research on Keyless Wallet](https://twitter.com/dionyziz/status/1400005462028914690)

## Project Summary

⚡ WHY: [Billions of users](https://www.blog.google/technology/next-billion-users/more-inclusive-global-digital-economy/) can earn 10% or more annual returns with crypto assets. But they must stop worrying about seed phrases, device loss, email phishing, phone hijacking... We [can secure](https://www.argent.xyz/blog/10-security-secrets/) everyone’s financial future against password breaches, software bugs, platform malware and [exchange hacks](https://blog.idex.io/all-posts/a-complete-list-of-cryptocurrency-exchange-hacks-updated).

👩‍👩‍👧‍👦 WHOM: Global consumers with just a few thousand dollars and no technical background.

💎 WHAT: A digital wallet for crypto assets, investment and identity. Consumers can buy crypto assets [via credit cards](https://medium.com/harmony-one/harmony-partners-with-simplex-allowing-users-to-buy-one-tokens-with-fiat-b74885d13dad), then trade between multiple platforms. They can earn fixed-rate interests or actively invest for higher returns. [Their profiles](https://blog.chain.link/digital-identity-on-the-blockchain/) can hold [digital arts](https://twitter.com/stse/status/1379603807391211520) or [custom domain names](https://twitter.com/stse/status/1370195631550078977).

🤯 MAGIC

* Earn [20% annual interests](https://twitter.com/terra_money/status/1372140986822914050) for the first million users.
* No emails, SMS, passwords or government documents necessary.
* Seamless between assets from Bitcoin, Ethereum or [any networks](https://harmony.one/bridge).

🔨 HOW

* Many [staking protocols](http://staking.harmony.one/) offer 10% yields, [lending protocols](https://twitter.com/stse/status/1381292506898333696) offer 10%, and [liquidity pools](https://defipulse.com/) offer 20%.
* Assets and keys are secured on blockchain; [only need Google Authenticator](https://twitter.com/stse/status/1373457002215534593) and [social recovery](https://www.argent.xyz/blog/a-new-era-for-crypto-security/).
* Harmony supports non-custodial and trustless transactions in 2 seconds and at less than $0.01 fees.

💪 WHO: Ph.D.s, [ex-Google developers](https://harmony.one/xoogler), formal verification as security audit, [top branding agency](https://twitter.com/stse/status/1376243579920674817), [builders of](https://timeless.space/) billion user products.

🔥 WHERE: The Future of Money is already here but unevenly distributed. Decades of cryptography, [best research](https://dionyziz.com/) in production.

🚀 WHEN: Product launch in 2021 Q3 with 1000 users, then 10k users in Q4 with each wallet holding $1000. A prototype with minimal features on mainnet in July. 

💡 Terms

* [Social recovery](https://harmony.one/social): friends or other devices unlock funds for you if you lose access to your wallet.
* Non-custodial: no network, software, developers, government or even Harmony control your fund.

Join us at [@1wallet\_](https://twitter.com/1wallet_), [demo](https://1wallet.crazy.one) and [wiki](https://harmony.one/1wallet-goals).

{% hint style="info" %}
Note: While your assets are completely safe and secure, please note the beta 1wallet app is currently under active development.
{% endhint %}

## Security Goals

ONE Wallet is designed with these goals in mind for security:

#### Social (people)

* **Resilient**. Funds are recoverable through time locks and multiple safety nets. No single point of failure such as thefts, cracks, loss, censorship or coercions is catastrophic.
* **Sufficient**. All steps are well defined without delegating to hardware devices or seed phrases in safety boxes. Users do not need any passwords or rely on biometrics.
* **Anonymous**. An account is a fresh cryptographic hash, not tied to existing systems or real-world identity. Derived paths support multiple public keys to protect privacy.

#### Smart (code)

* **Composable**. One-time or low-entropy passwords are useful for small funds. Multiple authentications can independently boost protection thresholds against brute-force.
* **On-chain**. A decentralized network with high stakes and fast finality validates all transactions. Its platform has sustainable incentives and open governance to evolve.
* **Programmable**. Operations can call third-party contracts, store history of states, or upgrade its code. Complex applications may use oracles of time, locations and events.

#### Hard (math)

* **Self-Sovereign**. No third parties, government documents, designated guardians, backup servers or hardware enclaves are necessary. Users have full custody and self control.
* **Air-Gapped**. Key-loggers and man-in-the-middle attacks are minimized. The full parameters of transactions are easy to verify and approve without cables or cameras.
* **Verified**. Trusted are only open source and hardened cryptography. Formal verification, through logical frameworks, assures end-to-end security beyond tests and audits.

## Tradeoffs

There may be conflicts, tradeoffs or impracticality of the goals above. Here's our rule of thumb:

1. Toward validating our innovation with 10k users (each with $100 assets), focus on these three goals: **sufficient, resilient and composable**.
2. Toward adopting our product with 1m users (each with $1k assets), differentiate with these three goals: **on-chain, self-sovereign and air-gapped**