[Grant] Integrating Monero into Walletverse

[wallet-verse]

Candidate Background

Walletverse is a community-driven cryptocurrency wallet known for supporting a wide variety of cryptocurrencies, emphasizing user-friendliness, decentralization, and security. The development team is highly experienced with extensive competencies of delivering user-friendly and secure software. Our website is https://walletverse.io/. The project's Github is https://github.com/wallet-verse/.

Project Description

This project proposes the integration of Monero, a privacy-focused cryptocurrency, into the Walletverse ecosystem. This integration will enhance the privacy and functionality of the Walletverse wallet and contribute to the wider adoption of Monero by making it more accessible.

The integration of Monero into Walletverse will:

• Promote the wider adoption of Monero
• Provide users with a more comprehensive and convenient way to manage their digital assets with a focus on privacy
• Enhance interoperability within the cryptocurrency space by enabling secure and private transactions with Monero
• Offer a secure and user-friendly platform for users who value privacy and anonymity in their transactions
• Provide an environment for users to buy, sell, and trade Monero with other cryptocurrencies

Technical Approach

The Walletverse codebase will be modified to support the Monero network. This will involve:

• Utilizing a modified monero-ts library, which will be adapted to suit the needs of Walletverse and enhance compatibility.
• Modifying the keys lib at https://github.com/wallet-verse/crypto-api-keys-lib.
• Modifying Monero node RPC to support fast sync for several offline wallets, which will optimize the syncing process, making it more efficient when managing multiple Monero wallets.
• Implementing new API methods.
• Implementing an offline wallet scheme:
  • The client will generate the seed phrase.
  • The client will then derive and securely store the private spend key.
  • The client will send the view key to the backend.
  • The backend will use the view key to monitor transactions for the user's wallet, but it will not have access to the private spend key.
  • On app startup, the app will get unsynced outputs from the backend, sync user wallet state and export key images to allow the app to create unsigned transactions.
• Handling key management and transaction signing for Monero securely within the wallet's, ensuring private keys are stored locally on users' devices in ecrypted store.
• Ensuring proper display of Monero balances and transaction history in the user interface.

This approach ensures that users maintain full control over their funds, since the private spend key is never exposed to the backend. The backend only has the view key, which allows it to watch for incoming transactions but not spend funds.

The user interface will be updated to:

• Clearly display Monero alongside other supported currencies in the wallet.
• Enable users to send and receive Monero with an intuitive and easy-to-use interface.
• Provide clear feedback on transaction status and display links to block explorers.
• Allow users to buy Monero with a credit card.
• Allow users to easily swap Monero for other cryptocurrencies.

Milestones and Budget

The total budget for this project is $28,000 ~135 XMR. The project will be completed in four phases:

• Phase 1: Core Monero Integration
  • Timeline: 1 Month
  • Description: Add support of Monero seed phrase and key management to core keys lib, implement new API for clients, and modify monero-ts and monerod RPC
  • Budget: $10,000
• Phase 2: Base Features
  • Timeline: 1 Month
  • Description: Implement send/receive, balance, transaction history, and outputs/key images sync
  • Budget: $10,000
• Phase 3: Optimization & Testing
  • Timeline: 1 Month
  • Description: Testing of all Monero features in wallet
  • Budget: $5,000
• Phase 4: Release
  • Timeline: Ongoing
  • Description: Deploy mainnet Monero nodes, release the Monero-integrated Walletverse to the public, gather user feedback and iterate on the Monero functionality
  • Budget: $3,000

The payment address is: 4ASp5dSVmbL3Lp6iuaAHgygPmRVCbaXCCEsmqoL6r4HkKs3oPGPmkx4eRLda78vyb4bVyV4VPraa9DuDDdZXE61J9hNnV5p

The Walletverse team can be contacted at [email protected]