PRESS RELEASE. G-Wallet, a decentralized crypto platform and wallet provider has revealed a series of updates on its blockchain ecosystem. The updates focus on the development of its hybrid wallets and other features offered by the blockchain platform.
G-Wallet is Building a Sustainable and Decentralized Wallet Ecosystem
G-Wallet has been developing a hybrid wallet that will offer several features including the integration of a decentralized exchange and p2p exchange platform. This initiative is part of G-Wallet quest to build an extensive platform for users to access crypto features from its wallet applications.
The decentralized exchange is expected to offer users an ideal environment to trade crypto assets without the restraints of centralization. Users will be able to exchange defi products on the G-Wallet blockchain platform.
In addition, the decentralized exchange is expected to include an atomic swap feature that will allow users to swap the platform’s native token LEVEL G for other stellar based tokens within the wallets.
G-Wallet will also integrate a dedicated tracker on its decentralized exchange as part of its defi feature. The smart tracker is built as a form of yield AI and scans the Stellar blockchain for the best token swaps and yielding offers. G-Wallet also confirmed plans to implement popular defi features like staking, borrowing and lending on its smart contract.
The p2p exchange is also a major aspect of the G-Wallet ecosystem and is built to enable direct exchange of supported assets by traders on the exchange. The exchange offers similar features seen on other P2P platforms and traders will be able to exchange supported tokens directly from the G-Wallet platform. To mitigate against fraudulent transactions, G-Wallet has integrated an inbuilt escrow system within the exchange.
The escrow holds funds during transactions and only releases funds when transactions are completed. At the moment, traders can trade BTC, ETH, USDT, XRP and XLM on the P2P exchange.
The Wallet platform will be secured using an SSL encryption that ensures that data stored would be safe from leaks and hacks. Since it is built on the Stellar network, G-Wallet offers immutability and security features from the Stellar blockchain.
G-Wallet has also continued the development of its GKYC system which seeks to provide a different form of identifying users on its platform. The GYKC procedure mandates users to embark on a verification process that ensures that the crypto exchange services offered by the blockchain platform are free from fraudulent transactions and cybercriminals.
Highlighting the use cases of LEVEL G Token
G-Wallet will be powered by a native utility token called LEVEL G. The stellar based token will provide users with access to P2P features offered within G-wallet. It has similar features with other Stellar based tokens and offers cheap cross-border transactions.
Users will be required to hold a minimum amount of LEVEL G to be eligible to use services offered by the exchange. The token can also be exchanged for other crypto assets using the atomic swap feature on the decentralized exchange.
LEVEL G has been listed on some exchanges and has limited supply of twenty one millions tokens. In the long run, G-Wallet aims to partner with card companies like MasterCard and Visa to expand the use cases. There are also plans to partner with debit card companies to release LEVEL G debit cards that can be used like regular debit cards for payments.
G-Wallet is a blockchain platform that offers complete digital wealth solutions in one place. G-Wallet aims to provide financial freedom for users and create a system that is truly decentralized.
Learn More about G-Wallet- https://gwallet.tech/
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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