Ambire DeFi wallet integrates Moonbeam as first Parachain supported
March 21, 2022 – 10:23 pm
Ambire, providers of an integrated wallet offering a single interface to utilize popular DeFi apps, announced today it has added support for the Moonbeam Network. Its users will now be able to use Ambire to send transactions and use native Moonbeam DeFi protocols.
Moonbeam is the Ethereum-compatible parachain of the Polkadot network.
Unlike most other EVM-based networks out there, Moonbeam is not a direct code fork of Ethereum node software. Instead, it is a Substrate chain that emulates Ethereum features and its communication protocol to provide a compatible environment. This means that Moonbeam has additional features such as integrated governance, cross-chain integrations, and staking, which are native to Substrate.
DApp developers can deploy on Moonbeam just as they would on other EVM chains, using the exact same tooling and code. Existing major DeFi protocols on Moonbeam include Sushi and Curve, with a number of Moonbeam-native options as well for swapping and lending.
The Ambire Wallet enables access to DeFi opportunities from a single interface, which provides a useful central dashboard for users’ DeFi activity.
This includes the ability to swap tokens or access dapps via WalletConnect, with the platform offering a detailed breakdown of balances and past transactions. Ambire also includes scam-proofing mechanisms, for example by ensuring that users give token approvals to the exact contract they meant to interact with.
“Wallet infrastructure is critical for enabling users to get access to some of the amazing DeFi applications in the Moonbeam ecosystem. The Ambire team’s multichain focus as well as their extensive background in the substrate ecosystem made for a great expansion of our ecosystem.”
– Nate Hamilton, Ecosystem Lead for Moonbeam
Along with Moonbeam, Ambire also integrated Moonriver, a companion network to Moonbeam which provides a permanently incentivized canary network. First, the new code ships to Moonriver where it is tested and verified under real conditions. Once proven, the same code ships to Moonbeam on Polkadot.
“We have been excited about Polkadot since the very start, starting with our AdEx implementation on Substrate back in 2018. We’re very excited to be backing the first parachain on Ambire, and Moonbeam was the natural choice as the most vibrant ecosystem out there so far.”
– Ivo Georgiev, CEO of Ambire
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