TALLY HO IS A FAITHFUL FRIEND AND A NEW SIP OF TRUE DECENTRALIZATION!!
BE SURE TO REMEMBER THAT THIS PROJECT IS CURRENTLY IN THE TESTING PHASE AND IF YOU ARE INTERACTING WITH AN EXTENSION, DO NOT USE YOUR ENTIRE CASH HOLDING.
Hello, I want to note the content of this article:
1. General presentation of the project.
2. What is the superiority of Tally over Metamask and why Metamask refers to the centralization of the last century of web 2.0.
3. Some plans to involve new users in the Tally product.
4. Availability of a public license Tally GPLv3.
5. Future sign-in opportunities with SIWA-enabled Ethereum.
6. The reason and principles of DAO management.
7. Availability of delegates.
8. Project exit plans.
9. Product Description.
Tally Ho is an open-source Web3 wallet from the developers who worked on Metamask.
This wallet includes all the features and capabilities of the wallet Metamask, but it will already be an order of magnitude higher than its predecessor, because the whole team took into account the disadvantages of Metamask and working on the product with the scope of advanced capabilities and major changes!
In brief:
1. The wallet will be on the principle of controlling the DAO.
2. All commissions will go to users in DAO.
3. Free Open Source Software.
4. GPLv3 license to protect open source from centralized corporations and developers.
5. Tally has a lower fee ~0.5.% for swap and fees go to DAO, while Metamask has ~ 1%.
5. No need to manually add tokens as in Metamask.
6. Ability to add addresses to monitor assets.
7. Tally Fully owned by the community.
8. Improved security system.
9. Ability to log in with SIWE support Ethereum.
10. Availability of delegates and the possibility of delegation.
11. Support of different networks as L1 and L2 solutions, and it is not required to make manual settings of the network itself as in Metamask.
At the moment it already supports air and polygon networks, Arbitrum and Optimism are also on the way.
12. Developers will strive to implement all the innovations that can fit a purse in this product.
13. Integration of activity interaction in Defi (viewing lost assets and not only).
14. Also in the future will integrate all support for NFT assets, monitoring networks of different levels and all necessary functions, such as viewing, sending, etc.
15. Ledger support.
16. And the most important is the REAL DECENTRALIZATION!
But with such TOP developments here, there is no doubt that there will be very juicy stuffing succeeding in everything.
Once upon a time, the team created the Metamask wallet for the Ethereum community. But over time, changes have happened and many products have been taken over by corporations into a board monopoly!
Tally Ho is a wallet that offers a chance to thwart the monopoly and create a new wallet built on openness through its product, culture, code, and community.
I want to introduce you to Matthew Luongo the TOP DEVELOPER and CEO founder of THESIS and his VP of Product Michael Haley.
Both of them are actively working with the community to create and develop Thealey's project.
The THESIS is about developments towards decentralization. On their website you can find the description:
They create and finance products and protocols in the field of cryptocurrencies and decentralized technologies. Their financing is supported by a16z, Polychain Capital, Draper, DHVC.
I'd also like to draw your attention to who follows Matthew on Twitter, very influential developers and projects! And that's just the ones I'm subscribed to, so the list is probably huge!
Saddle, Sergey Gorbunov (building axelar $ algo), xx network (David Chaum), Near Protocol, Agoric, Kava Network, Thesis, The Graph, Dan Reecer (Acala & Karura), Stani Lens (Founder Aave & Lens), Solana, Tokensoft, Keep, Boba Network, Lightning Labs, Alexei Zamyatin (Interlay & Kintsugi), NuCypher, Bedeho (JoyStream), Fred Ehrsam (Co-founder Paradigm & Previously co-founder Coinbase), Loopring, Michael Arrington (Arrington Capital), Gemini, Fold, David Held (Team Kraken), Ivan on Tech, Pomp, Cameron Winklevoss, Tyler Winklevoss, cdixon.eth, Vinny Lingham, Stafi Protocol, ParaSwap, Secret Foundation, ChainFlip Labs, Everscale, DAO Duck, Nodle.
In general Matthew and Michael together with crypto-enthusiasts are very actively working on the development of a new decentralized product Tally Ho, which using a special license will be owned only by the community applying the principle of governance through DAO!
These are the times of web3 trust-free internet development, the implementation of events in Ethereum are brought to life from the whole ecosystem and we see the growth of open financial services:
The ability to trade and provide liquidity on Uniswap, to lend and borrow on Aave, to manage risk on Hegic has emerged.
In all of this there is a need for a wallet that is truly decentralized.
Before the advent of Bitcoin technology, the BitTorrent project paved the way technologically, books, games, music and movies were available to any tech-savvy teenager. Torrents facilitated the complexity of accessing, searching for, consuming and remixing content on the Internet.
Open Source Software (FOSS) is source code that is freely available for possible modification and distribution by the community. Products include permission to use the source code, design documentation, or product content. Open source gives faster development of new ideas, free education for aspiring developers, and better security, allowing anyone on the Internet with talent and interest to find and report bugs, improve products, and participate in their management.
Linux runs the majority of all phones and servers in the world, git provides most software development, and all major technology companies have a policy of supporting open source software. In the early days of the Internet, the decisions made to make software, standards, protocols, and browsers open source brought incredible good to the world and laid the foundation for everything we do in cryptocurrency now.
Everyone knows that Bitcoin and Ethereum were built open source seeking to follow DAO. The Internet was built on the same motives, but capitals have changed the whole essence, so any new web 3 must be open source. From FOSS and P2P technologies to Bitcoin and Ethereum, every new advance in open networks with their free access has led to new waves of innovation and user freedom. The economic incentives of Web3's open funding are accelerating this trend.
Yearn.finance's fair launch of YFI in 2020 proved incredibly compelling. Radically rewarding early users with real ownership turned Yearn into the most significant DeFi community - 2020. Tokens turned users into jointly incentivized owners to develop and maintain their favorite projects and if they succeed together, everyone wins.
Metamask unfortunately took two steps forward and one step back!
There is a lot of opposition to open source in the cryptocurrency world right now, projects are afraid of forks and closing the source code, limiting the license. Metamask has made a fundamental mistake! On Saturday August 20, 2022 will be 3 years since they made the decision to abandon free and open source licensing for their flagship wallet. The logic behind this decision is obvious and simple, the desire to compete and make money, but not in favor of the community!
As soon as ConsenSys launched Metamask Swap, a service inside wallet trading, they started charging a huge commission compared to Uniswap, Sushiswap, 0x or 1inch up to 1% per transaction. The amount is on the order of $10M per month in commissions that go not to platform users, but directly to a strictly controlled corporation.
- Despite years of community work, Metamask users don't get a dime.
You can also read Tom Schmidt's note:
"Before anyone saw it, Metamask just started printing. Making ~$170K/day on commissions at $20MM/day volume."
MetaMask's daily exchange fees have brought ConsenSys more than $300 million since launch.
In one article, Matthew Luongo talked about a vampire attack. A vampire attack is a protocol or platform that distracts users from another one. Many people remember how the developer NOMI from SUSHISWAP, at one time in 2020, with the help of a vampire attack, pulled liquidity out of UNISWAP by offering SUSHISWAP tokens to liquidity providers, at a time when UNISWAP did not have its own token, and it worked in the short term. But we still remember how Chef NOMI himself sowed the seeds of his own destruction in his vampire attack.
His talking about Matthew's thoughts and future analogy with MetaMask. No longer open source, MetaMask was already blocking users in certain geographic regions. The project claims to support web3, while at the same time blocking its users' addresses from entire countries! Now the principle MetaMask is more like a Web 2.0, they make a number of decisions contrary to the interests of users, it is blocking access to the purse by country and increasing surveillance of users.
MetaMask uses Infura. Infura is a ConsenSys portfolio company that manages highly available Ethereum nodes. Most dApps today rely on MetaMask's built-in Infura provider to connect to the Ethereum API without using their own Ethereum nodes. This practice has shown to be highly risky.
November 2020 Infura did not update its Geth nodes and there was a massive technical failure.
It was not the only culprit, but perhaps played a large central user role! MetaMask, Maker, Uniswap, Compound and MyCrypto were all down. Binance and Coinbase were forced to stop withdrawing ETH and ERC20.
On March 3, 2022 in Venezuela began reporting on Twitter that they had lost access to MetaMask due to the blockades.
MetaMask implemented a geo-blocking action, adhering to US sanctions. On the same day, a geo-blocking occurred on OpenSea. Iran, Cuba, North Korea, Syria, as well as Crimea, Donetsk and Lugansk regions of Ukraine were blocked, and other countries, including Venezuela, were also blocked by mistake. This could have been bypassed by switching RPCs or using a VPN.
But we learned our lesson very well!
Now the Pocket Network project is helping to develop Tally - It is a decentralized blockchain-API created for web3 applications, transmitting data to and from any blockchain through a network of thousands of nodes. Pocket Network does not depend on one centralized service provider, it is designed for 100% uptime.
Join DISCORD
It's also worth noting that the Tally project collaborates with Alchemy as its default infrastructure provider! Alchemy provides the most reliable connection to Ethereum and Pocket Network integration is an addition, not a replacement.
Tally Ho officially announces a registered license for the benefit of the GPLv3 community!!!
The GNU General Public License v3 is the definitive "CopyLeft" license (as opposed to "CopyRight") and includes the strictest protections under the law, ensuring that Tally Ho and all code as a community - remains free.
This license severely restricts all products and all developers with closed source code and guarantees that Tally Ho will remain free and open source - whether it's convenient for development teams or not.
Anyone who uses the Tally Ho code must also be open source, this principle ensures that other users cannot steal the value created by the community.
There were already some unpleasant cases in history when Sergey Aleynikov, a former Goldman Sachs programmer, was prosecuted twice and excused for copying Goldman's "proprietary" code, but to his surprise he discovered that Goldman had taken free software from the Web and not returned it. Later, at trial, his lawyer showed two pages of computer code: the original with the open license on top, and a copy where the open license had been removed and replaced with a Goldman Sachs license.
Tally Ho openly says that with their license, no such situation exists!
Goldman Sachs or JP Morgan will have to shell out for someone else.
SIWE Technology.
Also in Tally the team created the possibility to use login with Ethereum using their wallet, i.e. the app has support for SIWE and this login method is about to become widespread.
For us, this feature increases the sovereignty and dignity of web3 users around the world.
What are the features and benefits of this technology?
Logging in with Ethereum is a new decentralized single sign-on system created by and for the web3 community. In simple words, logging in is the same as registering or logging in through a Google or Facebook account.
1. No more need to genre and store insecure passwords.
2. No need to enter data that can be compromised in the process.
3. The actual amount of data remains minimal.
4. Registration or login is done with minimal steps.
You can also check your data for leaks on special resources to make sure it really exists and concerns everyone sooner rather than later:
Advice to try to always use a password manager, 2fa and update passwords more often. Otherwise you will have minimal security protection.
Yes login via Google or Facebook account is a convenient way, but the disadvantage is that they are supervisors of your actions and users for them are no more than raw material for promotional products! They know who was logged in and where, how much time you spent, and what you are most interested in. They use this data for their own enrichment.
And logging in through Ethereum is an opportunity to become a full citizen of decentralized cyberspace!
What is DAO and what is it for?
There is a hierarchy of roles in both the animal world and the human world. The power gap plays a huge role between those who govern and those who are governed, between what leaders decide and what people really want! The official actions of the authorities are not transparent, they do not reflect the public will. Corporations and other organizations centralize decisions that unilaterally determine the lives of their employees, customers and the world.
The idea of DAO - Decentralized Autonomous Organizations was to equalize a fair distribution of power among its members.
In the mid-90s, the first blocks of the DAO concept appeared in a report by David Ronfeldt, introducing the concept of multi-organizational networks: "small, dispersed and autonomous groups" that would support the growth of "distributed global enterprises, similar to the Web" and "virtual corporations".
Ronfeldt's ideology defined the structure of both the early Internet and the modern DAO.
DAO comes from "decentralized autonomous corporation" (DAC), a term that appeared at the same time when bitcoin was invented.
In 2013, Vitalik Buterin introduced the term, the first crowdfunding platform with the name DAO was formed, which was hacked a month later and stole a third of the funds. A hard-fork was implemented, which recovered most of the funds, but there was a forced separation of the blockchain and community into 2 parts. As a result, the DAO token lost its value. But it was the starting point for improving the technology and the accountability of DAO governance. The collapse of the DAO provided an opportunity for many to create safer, more flexible, more efficient tools and concept structures.
For example, with the launch of the Aragon network in 2016, anyone could easily create and manage a DAO without a legal framework. MolochDAO and MakerDAO, introduced structural innovations that helped developers create DAOs more easily.
Later, more user-friendly tools like Snapshot and DAOhaus emerged. These developments, among others, caused a Cambrian explosion in the DAO ecosystem.
Many projects brought better tools and resources to create them, which helped to master and tweak DAO to the desired more comfortable and workable level. DAO is certainly not a panacea, and it can be all about chaos. Nevertheless, with the right design, there is a good chance that DAO will empower all community members to participate in decision-making processes.
A decentralized community deserves decentralized tools, but it hasn't always gotten them. Ronfeldt's ideology defined the structure of both the early Internet and the modern DAO.
DAO comes from "decentralized autonomous corporation" (DAC), a term that appeared at the same time when bitcoin was invented.
In 2013, Vitalik Buterin introduced the term, the first crowdfunding platform with the name DAO was formed, which was hacked a month later and stole a third of the funds. A hard-fork was implemented, which recovered most of the funds, but there was a forced separation of the blockchain and community into 2 parts. As a result, the DAO token lost its value. But it was the starting point for improving the technology and the accountability of DAO governance.
The collapse of the DAO provided an opportunity for many to create safer, more flexible, more efficient tools and concept structures.
For example, with the launch of the Aragon network in 2016, anyone could easily create and manage a DAO without a legal framework. MolochDAO and MakerDAO, introduced structural innovations that helped developers create DAOs more easily.
Later, more user-friendly tools like Snapshot and DAOhaus emerged. These developments, among others, caused a Cambrian explosion in the DAO ecosystem.
Many projects brought better tools and resources to create them, which helped to master and tweak DAO to the desired more comfortable and workable level. DAO is certainly not a panacea, and it can be all about chaos. Nevertheless, with the right design, there is a good chance that DAO will empower all community members to participate in decision-making processes.
A decentralized community deserves decentralized tools, but it hasn't always gotten them.
This is why Tally Ho is created as a DAO.
Tally Ho is really a public wallet, created by and for the Web3 community. It's fully owned and operated by its users, certified under the GPLv3 public license. And there are no restrictions on who can join the product, so everyone can help shape the future of Tally Ho. First of all, no centralized authority can compel action without the group's consent.
And also DAOs are built on smart contracts, the code that triggers these processes is always available for public review and inspection by absolutely anyone.
DAOs can allow people to organize their efforts based on openness, transparency, and decentralization: the core values of blockchain technology.
As for the audit, I personally believe that it is too early to raise this issue, because so far the project is still under development in test mode, but the audit has already been conducted by some companies, and all at a high level.
Tally was audited.
Also in the project, starting in December 2021, there is an opportunity to become a delegate.
Who are the delegates?
Delegates are community members who fully support Tally Ho's mission to provide free open source wallet software for Web3 and the open web.
Why delegates exist:
It's clear that not every member will be able or willing to consider and decide in every single DAO proposal, but since this is an important role, delegates will be identified on whose shoulders the responsibility to consider and make decisions for every project development proposal rests. Delegating your votes means that you have a say in the DAO, without having to participate in day-to-day management.
When the DAO is launched, a list of delegates will be provided, and the project will encourage community members to delegate their votes.
And what is Tally?
Tally Ho is a standalone Web3 wallet and protocol built on an entirely new code branching base, owned and operated by the community, incentivizing users in the long run.
Tally implements wallet efforts aimed at:
1. A fair start ⚖️
2. A stable user focus 🤲
3. It is fully owned by the community 👪
4. A focus on open finance and the entire modern DeFi ecosystem.
5. The entire focus on using MetaMask for farming, swaps, lending and borrowing, you can use in Tally Ho.
The launch of Tally Ho will open up new income prospects, integrating with Yearn.Finance and other aggregators to make passive income as simple as a traditional savings account. All commissions from wallet income will go to users, creating a trusted, engaged community.
The team and community create the wallet that the open internet deserves.
Plans for the project's release are as follows:
1. Create a Web3 wallet.
2. Finalize the open source wallet.
3. Create a robust, global and healthy community.
4. Transfer management to the community.
5. Launch a DAO.
6. Exit Project.
Something exciting, well-designed and dominating is coming!
Such that even long-time MetaMask users won't be able to resist changing product usage! Tally will offer certain incentives for MetaMask users to switch to an open source product!
There will soon be a fair launch of a new DAO, structured in a way to encourage users to abandon MetaMask and keep attracting them to Tally Ho.
Tally's next goal is to create services in the wallet that generate fees for the community-owned DAO. In simple terms, these fees will go into the pockets of Tally users, not big banks and traditional finance.
Know that Tally is not a fork of MetaMask!
The team decided that the best way is to start with a clean slate and the project is implemented with MetaMask already prevailing, all flaws are taken into account and will be eliminated! MetaMask will be a centralized wallet of the last century web 2.0 generation!
Join and be part of history, contribute to the growing healthy web 3.0 decentralization community.
My contacts: Vagif#6511 Twitter Telegram Telegram Chat
Sources of information:
TALLY SITE
