Enjin Wallet Update: World’s First Multi-Swap Support ft. Kyber, Changelly & Bancor

We’re delighted to announce a long-awaited and highly-requested update for the Enjin Wallet: direct, native integration of not one, but three leading conversion platforms.

The update also brings new EnjinX-powered features, with hashes and addresses now linked to EnjinX and an explorer link in the main menu.

We have a sort of peculiar philosophy at Enjin.

We believe that if something is not NEW and BIG, it’s not worth doing.

Every single breakthrough we’ve made has been both — from developing the world’s most secure mobile cryptocurrency wallet and forging a pioneering token standard, to kickstarting the first blockchain gaming multiverse, creating the fastest way to receive cryptocurrencies and blockchain assets, and launching a universal blockchain explorer.

We are a company of firsts.

A jolly tribe that roams the digital wilderness, exploring new, unusual lands and crafting tools that no one has built before.

If you’re familiar with our history, you know that we’re laser-focused on relentlessly polishing the quality and usability of our products.

So, it should come as no surprise that we’ve integrated not one, but three conversion platforms with the Enjin Wallet: Kyber, Changelly, and Bancor.

Kyber Network

Kyber is an Ethereum-based token swap protocol that allows for the instantaneous exchange and conversion of digital assets in a decentralized, trustless manner.

With its core mission to enable seamless exchanges on any device or platform, from cryptocurrency wallets to websites and apps, Kyber allows entrepreneurs and organizations to accept a wide range of cryptocurrencies while receiving their currency of choice. Their Developer Portal includes an elegantly documented trading API that we’ve used to integrate Kyber with the Enjin Wallet.

Powered by Kyber Network’s on-chain protocol, Enjin Wallet users will be able to exchange ETH and supported ERC-20 tokens instantaneously.

Kyber Network does not maintain a global order book — instead, it maintains a reserve, which houses a certain amount of digital assets for the purposes of maintaining exchange liquidity.

This reserve is under the control of the Kyber smart contract. The contract can also determine the conversion rate for each digital asset pair by looking to all other reserves on the network. The conversion rate for digital assets is regularly updated by reserve managers, with the Kyber smart contract using the most favorable rate for users when executing an exchange.

Changelly

Changelly was the 17th exchange to list Enjin Coin — and the first to announce integration into the Enjin Wallet.

Thanks to Changelly wallet integration, Enjin Wallet users are now able to easily exchange ENJ, BTC, ETH, LTC, and ERC-20 tokens.

Operating since 2015, Changelly is a non-custodial, instant cryptocurrency exchange that acts as an intermediary between exchanges and users, offering access to 130+ cryptocurrencies.

Changelly’s fee model is straightforward: they charge a flat-fee rate of 0.5 percent on every trade they facilitate. This fee remains the same across all the cryptocurrencies Changelly has liquidity for.

Changelly’s automated system is interesting in that it aggregates the prices of digital assets from different exchanges (i.e., Binance, Poloniex, Bittrex) and then lists the average as the going rate for traders on the platform.

To learn more about the process, see this article.

Bancor Network

We partnered with Bancor over a year ago in order to use Smart Tokens across the Enjin ecosystem.

Now, we are continuing this cooperation to integrate Bancor’s token conversion service with the Enjin Wallet and enable simple in-app trading of Ethereum and hundreds of supported ERC-20 tokens.

Bancor is the first decentralized service which allows users to directly transfer value across multiple blockchains with no intermediary. With Bancor, every transaction is executed directly against a smart contract, so converting a cryptocurrency does not require matching two parties in real-time with opposite wants; rather, it can be completed by a single party directly through the token’s smart contract.

Users of Bancor remain in full control of their funds and private keys at all times, and Bancor charges no fees for token conversions, which occur instantly and fully on-chain — from pricing to execution — ensuring maximum transparency and safety.

On the Bancor Network, tokens are always available for purchase regardless of trade volume. This is possible through Bancor’s automated pricing mechanism which increases a token’s price and supply each time it is purchased.

The price for both selling and purchasing tokens is the same due to the algorithmic price calculation of the Bancor Formula. Bancor does not have an order book. All prices are calculated using a formula, so price slippage for every transaction is known ahead of time.

EnjinX Meets the Enjin Wallet

We recently released EnjinX ,  an ad-free, user-friendly Ethereum blockchain explorer.

Announcing EnjinX: Ad-Free, User-Friendly Ethereum Blockchain Explorer

EnjinX is a modern, fast, responsive web app for exploring Ethereum, ERC-20 tokens, ERC-1155 blockchain assets, and blockchain data.

blog.enjin.io/enjinx-blockchain-explorer

The EnjinX API has powered the Enjin Wallet from the very beginning. Now, we’ve brought these two products even closer together.

Enjin Wallet hashes and addresses are now linked to EnjinX, making it easier to learn and understand more about the blockchain data you care about.

The Enjin Wallet main menu has also been updated and now features a direct link to EnjinX — which is carefully optimized for mobile devices, so you can easily check out blockchain transactions, coins, addresses, and other data on your phone.

We believe the Enjin Wallet’s superior features,  speed, security, and usability  will result in it becoming the default cryptocurrency wallet for blockchain traders, hodlers, and gamers.

Don’t believe us?

Check it out and see for yourself.

Ilija Rolovic

Chief Marketing Officer View all posts by Ilija Rolovic