Tally Ho Wallet: Metamask's Rival? DAO and Decentralization

By ☑️0🆇D̺͈͙͕̿ͧ̑ͣ🅰🆅🅸🅳eͤ | Darknet | 17 Jul 2022

One of the most important issues in the world of cryptocurrencies is decentralization. If you use exchanges you are entrusting your money to a third party. What does this mean? The exchange may prevent you from withdrawing one day. You think of the scandal that hit the Mt.Gox exchange in 2013 which disappeared with about 850,000 Bitcoins. Over the years, other exchanges have disappeared, for example Quadriga CX. The exit scam is not the only problem. As you know, due to the war in Ukraine, Russian users registered on Binance were prevented from withdrawing on Visa and Mastercard due to the economic sanctions that Russia has suffered. War is never the solution, but what is the fault of the Russian citizens? Nothing. Yet Binance and Coinbase have blocked their accounts. Other lending platforms or funds have gone into trouble or bankruptcy: Voyager, Celsius and Three Arrows Capital. What happened? They entrust our money to third-party platforms, we receive an income but sometimes it can happen that the platform goes bankrupt or becomes insolvent. In periods such as the bear market the risk is not worth the candle!
As a famous quote goes:

"Not you keys, not your coins"

Exchanges are essential for buying, but I recommend using non-custodial wallets to hold your tokens. I think the most famous non-custodial wallet is Metamask. However, one of the problems with this wallet is that it is not open source. Metamask is decentralized, however there is a society behind it. For about 1 year they have announced the launch of a token and then a DAO but the truth is that for the moment the token has not yet arrived. Metamask made over 230 million dollars in 2021 thanks to user swaps and all the commissions ended up in the team's pockets. They seem to have a very specific strategy: "hype" announcements for users to swap (to take the airdrop) but to date the token still seems far away.
A wallet that contrasts with Metamask is instead Tally Ho (Download). You can download it for Chrome, Brave or Firefox. Configuration is very simple:

1) Download, install the extension for your favorite browser and enter a password
2) Save the seed on a sheet of paper
3) Re-insert the seed

This wallet is EVM like Metamask, however it has open source code (Github). In addition to being a wallet that allows you to receive for example on the Ethereum and Polygon blockchain, it has also integrated a swap to make trades (and the commissions are much lower than Metamask!).

The other difference from Metamask is that the profits that are generated by the user swaps are distributed to the DAO. What is DAO? Simply the TallyHo community participating in the governance of the protocol: Tally.Cash (Governance)
Users can make suggestions and if sensible they are taken into consideration for future developments. Tally's treasury can be found here: Etherscan (Tally Reserve)

I read that 3 audits have already been performed: Open Zeppelin, Least Authority and Code Arena. The wallet will also have its own token called $Doggo. Presumably if you stake $Doggo you will have power in governance.
I emphasize that this wallet is new so it will undergo continuous updates in the future. What I can recommend is to try it out and participate in their community (Tally.Cash ) which seems very active to me. The advantages are certainly the presence of a DAO that makes it really decentralized and the simplicity of use. I also think the interface is much friendlier than Metamask. TallyHo's interface reminded me a bit of Solana's wallet (Phantom) so I love it and maybe I'm biased! Definitely a wallet to try!