The Tuyo project has introduced an application of the same name for self-storage of cryptocurrencies, focused on DeFi.
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The solution is positioned as a next-generation non-custodial wallet that combines the convenience of centralized exchanges and user freedom "without any compromises."
According to The Block, the creators of Tuyo were Jorge Izquierdo, co—founder of the DAO-oriented and decentralized management Aragon project, and Alejandro Perespaya, ex-head of digital products at Allfunds.
The creators of the project noted that most novice investors in cryptocurrencies begin and end their journey on CEX. This is due to the simplicity and convenience of using centralized platforms.
Therefore, the developers of Tuyo have set the task to rid users of unnecessary technical details. According to them, they have made it as easy as possible to conduct on-chain operations with access to DeFi services like profitable farming.
"The idea is to build a "golden cage" in which even if users store cryptocurrency under their own control, they will not face many difficulties," Izquierdo said.
He acknowledged that the implementation of the solution became possible only as a number of segments like stablecoins, L2 protocols, decentralized exchanges and the emergence of new technologies matured.
For example, the use of account abstraction allows you to save the user from the difficulties of interacting with multiple networks. The wallet works with Ethereum, Optimism, Arbitrum and Base, but does not burden the owner with cross-chain transaction processes, implementing everything independently, Izquierdo stressed.
The app has been running in closed beta mode for three months. Now the project has opened a waiting list from which it will invite users in turn.
It is planned to open wide access to the wallet in the fall of 2024. By this time, the founders of Tuyo expect to add it to mobile app stores.
Recall that in April, the centralized Kraken exchange launched a non-custodial crypto wallet.