What if the $237 million that MetaMask generated from effective 'tax' (swap fees) went straight back to the user community instead? Don't be confused- this isn't your average Shiba or Floki; this DOGGO guards your crypto assets. It's new, it's bold, and it's a project that I know you should read more about.
Dismantle the monopoly. What's yours should not be expensive to keep.
These seemingly random principles are tied together in world where people adopting the DeFi revolution realise that what's yours should belong to YOU and not some centralised institution or corporation. Take the central bank, for example, eating at your savings through the mythical concept of inherent inflation which is now running rampant as those in positions of power continue to print and usurp arbitrary value for themselves. After all that's why Satoshi envisioned Bitcoin, the king-cryptocurrency, as "deflationary". He wanted us to have control back. Don't worry Satoshi, we are as loyal as the new DOGGO.
The DeFi and Web 3.0 revolution is very much about taking back control.
DOGGO will show you how!
All cute dog-based references to the side, let's get to business.
There's a new self-custodial wallet in town! (More on "self-custodial" later, don't worry!)
This article will cover:
- An introduction to Tally Ho!
- What makes it unique?
- What is DOGGO?
An Introduction to Tally Ho! (For Crypto-starters)
Like all crypto wallets, Tally Ho! stores your cryptocurrency in an 'account', on a network. I will demonstrate these features below for the easiest comprehension of those of us that are downloading a wallet for the first time. Firstly, the user must either import, or create a wallet account, on which the crypto is stored. This is exemplified below:
1. Click 'continue' after obtaining the wallet extension from the relevant store. This is a link to the Chrome Web Store.
2. Read the interesting information about what you're getting into! Tally Ho! is a DAO (Decentralized Autonomous Organization) which allows for the funds collected in the Swap fees to go directly back into the community and it's voting procedures instead of some corporation's pockets.
3. Set it as a default wallet, if like me you have a lot of extension clutter from all sorts including MetaMask, Binance Wallet, Phantom, Ronin, Hive Keychain... the list is endless! To be honest its the only one which allows this intuitive setting right from the set-up! They understand the users' requirements (and as we shall see later, they improve on it).
4. Here's the next prompt where you can import an old wallet that you have, or set-up a new one. As this guide is for new users, click the 'Create new wallet' and receive your 'recovery phase'. This phase is very important and should be written down.
5. Without the phrase, you will not be able to recover the wallet, and risk losing your funds. This is how all Crypto wallets work and you must become accustomed to this.
6. You're in! Congratulations, now you have a user-friendly wallet where you can receive and send Crypto from. You can change the network on the top left and the wallet account on the top right in the case you want to use multiple wallet accounts at the same time.
7. They've got a pretty slick UI and if you navigate to the panel on the left, you are able to gauge your full portfolio, with all the token that you may have.
8. This tab is where the magic happens and the user is able to swap between cryptos right from inside the app for a very low fees. I will explain why this is a huge deal, in case it wasn't obvious from the ranting about MetaMask's fees structure at the start of this article.
9. The last screen is where you can report bugs and participate in making the wallet even better. Remember, not only are you the user, you own the platform. You have the active responsibility, and the right to make it better. That's absolutely fantastic.
So what makes it unique?
Here are the ways in which Tally Ho! is unique:
- Lower swap fees than competitors, and...
- ... these go directly back to the community.
- The community decides via votes on key developments.
- The wallet is also self-custodial. This means...
- ... only you have access to the keys and whenever you decide to lose it, the wallet is lost forever...
- ... which is advantageous because it also means less security risk from a centralised authority hack or breach.
- Though many would consider a custodial wallet more convenient, Tally Ho! does not lack in any way in it's seamless UI...
- ... and is in fact better configured than many custodial wallets that I know, which...
- ... usually have a higher fees involved including charges other than swap fees.
- You can connect your ledger wallet as well (but that's a conversation for another day!)
- And ultimately, you can pretty much do all the functions which could be lacking in other wallets such as the ability to browse dApps right from in the wallet.
- Most importantly, it's got an active community making it better every day.
So get involved, and we might finally have a decent wallet in the crypto sphere.
What is DOGGO?
Now usually when you start of describing a development in the crypto sphere, you'd start with the actual crypto involved but funnily enough most of these tokens do not have use-cases.
As something with a use-case that is strong right from the beginning, and a sense of purpose to develop it further for the entire crypto community as we effectively own it, it is natural I got hung-up talking about what you can actually do with the app.
But then there is DOGGO. DOGGO promises to be the utility token for the Tally Ho! ecosystem as promising in it's marketing as it is in it's use-case. It could quite well become a very lucrative investment opportunity which will also allow you great control in the voting procedure.
Read about the $DOGGO from here.
Here's what we know:
You’ll claim your tokens, delegate, and earn $DOGGO—all from inside your Tally Ho wallet. And you’ll want to do it pretty quickly - Michael Haley, Tally Ho! Governance
- Total supply is 30,000,000,000
- More than 33% of the token will be dropped to the community!
Currently it includes DeFi users, builders, and members of existing DAOs. We’re also exploring ways for you to reward friends and other DAOs when claiming. We believe $DOGGO will be in the running for the biggest fair launch ever, based on several factors. - Michael Haley, Tally Ho! Governance
- There is no amount set aside for the developers, pre-investors or otherwise
To me, personally, it sounds very very promising. Not because the exact details have been published, but because the community is so open to changing and developing for the better.
Make sure you try it out, and build a better wallet for all of us in the community. Help make the DeFi world a reality.
Transparency end note: This article has been submitted for the Publish0x contest and I hope you found it informative! I have not been sponsored as of yet to write this and so you will find my genuine feelings inside this article. I am seriously very impressed and at the very least, have found out about a better way to conduct my crypto investments and holdings.