Tally Ho is the traditional cry made by the huntsman to tell others the fox they are after has been spotted. It is also the name of the first the first “web3 wallet that belongs to everyone.” Since I'm normally hunting for cryptocurrency dips and DeFi returns, the wallet is much more interesting to me personally than the cute fury animal that may end up on one's dinner plate.
Tally Ho makes MetaMask seem quite barbaric, much like those huntsman of the 19th century killing innocent foxes - ironically, the symbol of the aforementioned MetaMask. The web2 wallet known as MetaMask has grown immensely in popularity with more than 21-million active monthly users. Their “tiered proprietary license” which limits how their code is used since being put into place in 2020 meaning the time has come for an open-source competitor. ConsenSys is the parent company for Metamask and stated that last year the product earned revenues of in excess of $200 million - none of which was shared by users. What does the fox say?
Ring-ding-ding-ding-dingeringeding!
Gering-ding-ding-ding-dingeringeding!
Gering-ding-ding-ding-dingeringeding!
There has to be a better way
Tally Ho is a open-sourced with a GPLv3 license making the code available to everyone. On top of that, all of its fees which come from services such as swapping, go the Tally Ho DAO (decentralized autonomous organization). Given the organization is not centralized, the wallet is both community owned and operated with fees going back to the users.
Tally Ho isn't a fork of the Metamask code since that code is six years old written for a prior version of the web. Instead, the DOA used new thinking to deliver a wallet for the new web that benefits all. In-their-own-words, "we’ve been able to build what we knew web3 needed: a pristine, security-first codebase that belongs entirely to its users."
Tally Ho can be downloaded and added as an extension in three browsers - Chrome, Firefox and my crypto browser of choice Brave. Once downloaded, simply add a password to secure your wallet and you are off on the hunt. The hunt begins by writing down your 24-word recovery phrase, mine was simple enough: 1 - never, 2 - gonna, 3 - give, 4 - you, 5 - up, 6 - never, 7 - gonna, 8 - let, 9 - you, 10 - down, 11 - never, 12 - gonna, 13 - run, 14 - around, 15 - and, 16 -dessert, 17 - you, 18 - never, 19 - gonna, 20 - make, 21 - you, 22 - cry , 23 - say, 24 - goodbye. Rick Astley would certainly approve and if you think I would put my actual recovery phrase here well "you know the rules and so do I".
Tally Ho will then be set to your default wallet, however you can change that in the setting and hide balances under $2.00 if you like. If you use a Ledger like me, you can easily connect it to Tally Ho for extra security and peace of mind.
Onto the Hunt
The Tally Ho wallet is still new after launching their "Community Edition Wallet" last December. Three audits have already been performed on the code since then - Open Zeppelin, Least Authority, and Code Arena. While the future is certainly bright, expect for bugs to still have to be worked out over the rest of the year and beyond in a never ending attempt to build the world's best crypto wallet.
Need some incentive to sign up? Tally Ho have said there will be a future airdrop of their $DOGGO token with more than 10,000,000,000 tokens being distributed community-wide. Don't like making money but rather saving it? Tally Ho swaps fees are about half of those that you will pay on MetaMask. Like making money and saving money? Then you have come to the right place.
Tally Ho Roadmap
Being a DOA you have the ability to shape the future of Tally Ho by voting on proposals to their roadmap here.
Tally Ho Roadmap items live now:
- Swaps
- Sign-In with Ethereum
- Ledger Integration
- Tally Ho Community Edition (current wallet)
Tally Ho Roadmap items in progress:
- Polygon Support
- Smart Contracts
- NFT Support
You can also put in feature request here. A couple items already asked for include Trezor integration and Terra Support although that request is from three months ago and not likely to be given much consideration at this point thanks to Do Kwon.
Community Updates and Supporters
If you like to stay informed, Tally Ho does a nice job of keeping everyone updated in their Community Update pages.
Tally Ho already has a solid and growing list of web3 supporters including:
- Uniswap
- Curve
- Yearn Finance
- Balancer
- Compound
- Synthetix
- Rook
- Lido
- Hop
- Liquidity
- Boardroom
- ShapeShift
- Gnosis Safe
- Snapshot
- Alchemix
- Zapper
- Keep
- Saddle
Moving Forward
Tally Ho brings to wallets what web3 is meant to be. Most of us in crypto are looking for decentralized open-sourced solutions that listens to and benefits the users, not some centralized organization. As more users download the wallet and more protocols offer and easy integration with it into their platform, expect Tally Ho to grow tremendously in adoption.
So what does the fox say? "Every dog must have its day" and Tally Ho's day has just arrived! #TallyHoWallet
