Sirwin
Sirwin
Tally Ho! Metamask

Tally Ho! Community and Metamask Company

By 0fajarpurnama0 | 0fajarpurnama0 | 25 Jul 2022


Tally-ho is the traditional cry made by the huntsman to tell others the quarry has been sighted. With the icon as a hunting dog and the hunting dog is hunting Metamask/foxes, maybe that was the basis behind its naming? Do correct me if I am wrong. Tally Ho! currently is decentralized finance (DeFi) wallet claiming to be the alternative of Metamask with the main differences:

  • while Metamask is owned by the company, Tally Ho! is owned by the community
  • while Metamask is tiered proprietary license, Tally Ho! is free and open source owned by every users
  • while Metamask's profit goes to the company, Tally Ho!'s profit goes to the community and will be shared

What's Tally Ho!'s Story?

I never knew that Metamask was no longer Open Source. It was when I knew Tally Ho! that I dug previous news and found that Metamask is now tiered proprietary license. This meant that anybody who wants to fork must request to Metamask owners Consensys and sign an agreement with them. The agreement is mainly to keep the codes that contribute streams of incomes to Consensys such as their referral codes. Tally Ho! wanted to continue where Metamask left off by keeping the code open source and change direction for the wallet to owned by the community through decentralized autonomous organization (DAO).

Company VS Community VS Public

I can understand why Consensys decided such drastic measures. The reason is because they are a "company". A company must profit to survive. Consensys believes that many parties that benefits Metamask are riding for free. Furthermore, many forks seems to be outshining Metamask with the quote of "Metamask is for experienced users and not friendly for new users". Maybe they believed with this trend, Consensys may continue to decline and their development over Metamask may have to be replaced by someone else.

Company Driven vs Community Driven

No matter what, a company is a company. Its profit and survival is more important than Metamask which is very normal. It is also normal for the company to lead the development of Metamask. While it is not wise to disregard the community, it is alright for such decision for a few times. A community driven project is different. The community leads and the community is above all else. The executives of the community may only follow the communities lead.

Decentralized Autonomous Organization

In decentralized finance (DeFi), a technology called decentralized autonomous organization (DAO) is being developed for community driven project. Anyone can earn ownership within the DAO and vote for the direction of the project. The method varies but usually, the weight of our vote depends on the amount of investment we made and the community votes the amount of payments to the team. Tally Ho! plans to use such DAO in the future. There are similar cryptocurrency wallet projects that have implemented DAO governance such as Trust Wallet Governance and others also looking to implement DAO governance system such as Safe Pal. Currently Tally Ho! have a roadmap and anyone is able to request features on their website. While the profit accumulated by Metamask are taken by the company "Consensys", the profit accumulated by Tali Ho are stored to the community and hopefully will be inside the DAO and shared to the users.

GPLv3

If the community declines then there is still no problem because Tally Ho! is Free & Open Source. It is licensed copyleft GPLv3 software license. The aftermath of community failure will simply revert to public where anyone can continue where they left off or fork to a different direction.

Current Release

Tally Ho! Current Roadmap

Tally Ho!'s current version is Community Edition Launch and did not forked Metamask. Therefore, expect many missing key features for now such as private key import (only seed phrase) and custom RPC network (currently only supports Ethereum and Polygon). At least a working version was released and the development stage is still new. We will have to evaluate their progress through time because what is more important is their commitment to follow the community's direction in Tally Ho!'s development.

Resources

How do you rate this article?

18


0fajarpurnama0
0fajarpurnama0

I'm a content creator who is interested in financial freedom, decentralization, internet, computer, censorship resistance, unconfiscateable, cryptocurrency, monetization, passive income, and referrals.


0fajarpurnama0
0fajarpurnama0

This blog contains all my articles of various categories which I will separate in the future once a category becomes big. This blog along with other online contents are licensed under creative commons attribution customized sharealike (cc-by-sa) where I Fajar Purnama as the creator customized the ShareAlike (sa) license here where you are also allowed to sell my contents but with a condition that you must mention that the free and open version is available here.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.