[Grant Application] ICON web wallet by Atka

Hi fellow ICONists,
Atka (@william_atka) reached out to us to so we could help in delivering their proposal to the community.

  1. Title
    ICON web wallet by Atka
  1. Project Category
    Developer support and product ideas - wallets, block explorers, DApps, developer documentation, etc.
  1. Project Description
  • The ICON web wallet is the easiest way to buy ICX tokens with a credit card, connect to the ICON blockchain, create your ICON wallet, manage your ICX holdings, and participate in the ICON governance through a secure, open-source and non-custodial web application.

  • The ICON web wallet enables you to purchase via credit card and access your ICX tokens, transfer and stake them through a simple web interface. The non-custodial web wallet application is an important component for the ICON blockchain to expand its community and make it more mainstream, while not compromising security. The software will be open-source; anyone could access the code and improve it if needed on Github.

  • What makes it different from ICONex is the credit card purchase function, powered by a regulated financial service provider, and that you do not need to download a Chrome application to interact with your ICX tokens. It can be seen as an alternative to MyIconWallet. However, unlike MyIconWallet, you can directly purchase ICX tokens from this interface, and we would provide the option for users to select the node they need to rely on to process transactions. Finally, we are planning to offer more educational materials and curated data about the voting proposals and staking options, which are not possible at the moment with MyIconWallet.

  • If you do not own an ICON wallet, you can purchase a limited amount of tokens via credit card on the web interface, through a regulated payment service provider.

  • With the ICON web interface, you could access your ICX from your Keystore file, your ICON Chrome application or your Ledger wallet, and rely on different nodes, only by choosing one in the interface between curated nodes. It would also be possible to add a custom node.

  • Once you access your ICX, you could either transfer them to a different address and optimize your transaction fees, or participate in the ICON governance by delegating your ICX to a list of curated P-Reps. It would also be possible to delegate to a custom P-Rep.

  • After the transaction or delegation event has occurred, the user could check the transaction identifier of this event in the ICON blockchain through the ICON web interface.

Mock-ups & User flow

Functionalities in future versions

  • Enabling users to sell ICX tokens

  • Statistics on ICON P-Reps

  • Access to ICON DeFi ecosystem

  • Message Notification System for ICON-related news, proposals, rewards, etc.

  1. Project Duration
    3 months (July 2020 - October 2020)
  1. Project Key Performance Indicators (KPIs)
  • Number of daily ICX purchases

  • Total amount of ICX purchased

  • Number of daily active users

  • Number of ICX transactions

  • ICX amount delegated

  1. Project Milestones
  • July 1-5th: Review of the existing solutions & available codebases

  • July 5-15th: IT architecture & tech specifications

  • July 15th- August 15th: Product development

  • August 15th - September 15th: User testing & Tech improvements through user feedback loops between beta testers & the dev team

  • September 15th - October 1st: Marketing plan & Product launch

  1. User Stories
  • US1 - As a user, I want to access to the ICON Web Wallet interface, because I want to quickly access my ICX funds stored on my Ledger.

  • US2 - As a user, I want to purchase ICX with my credit card through the web interface, because I want a seamless way to acquire ICX.

  • US3 - As a user, I want to download the front-end of the web app on my desktop (open-source) or use a specific desktop app, because I want to prepare and broadcast ICX transactions in a secure way.

  • US4 - As a user, I need a simple user interface to send, receive and delegate my ICX, because I do not like the Ledger Liver interfaces.

  • US5 - As a user, I want to access the web app anytime anywhere, just by plugging my Ledger wallet, because I don’t like to have to download either a wallet or a web extension.

  • US6 - As a user, I want a quickly accessible and easily readable, curated list of P-Reps, on which I know I can count, because I don’t have the time and skills to evaluate the pertinence of all of them.

  1. Monthly Budget Request
    10 230 USD


  • Total estimated costs: 45 900 USD

  • Costs covered by Atka: 15 200 USD (33%)

  • Costs covered by the ICON grant 30 700 USD (66%)

The grant funds will be used for the development of the project:

  • 1 system engineer in charge of designing & implementing the architecture of the ICONX non-custodial web wallet solution

  • 2 developers – 1 Back end developer in charge of developing the functionalities defined by the product specifications, 1 Front-end/Web app developer in charge of implementing the UI/UX defined by the UX/UI designer and validated by the Product manager.

  • A digital advertising budget for the product launch

  • The other resources will be provided by Atka

  1. Official Team Name
    Atka is an advisory firm for Blockchain & cryptos. We serve crypto trading firms, ICO/STO/Protocols, and large corporations such as insurance firms, financial institutions or Food & Beverage companies in their crypto-related projects. Over the past years, we have worked with firms like the largest French insurance firm for designing a crypto insurance product, Danone, iExec, or TQ Tezos.
  1. Team Contact Information
    Website: Atka.io

thanks for the application

I think the key part in this project is enable users to buy ICX from wallet with credit card without any KYC process. I thought it was very hard. could you explain your plans and how would make this work in more detail ways. thanks!

Hi @Ben_Lee!

Actually there will be a KYC process, as described in the mockups. The user will have to provide some personal information, contact information, and credit card details.

In the first version, it will be possible to purchase ICX-only, and we are discussing with different crypto-friendly credit card service providers about the restrictions on the amounts, as well as some restrictions on the nationality and country of residence of the buyers. It will not be possible to purchase ICX as a company, only individuals could purchase tokens. The credit card service provider will rely on different tools, such as 3D-secure, to limit the chargeback risks. The credit card service providers we have contacted both have worked with crypto exchanges.

We used to work for a crypto-exchange and are well-connected with different payment service providers, we have already mentioned this project to them and they are open to provide this service for this project.

Let us know if you need more details about this project.

Best regards,

@william_atka it’s great to have more fiat onramps to ICX. We’re planning on implementing Simplex into a few of the products we’ve built when Simplex is ready. MyIconWallet web is all open-source anyone is welcome to contribute via the github repo.

Are you looking to add any additional KYC you’re doing on top of Simplex?

@mj-reliantnode: good question! Actually we will not store user information ourselves, as it might trigger some privacy issues (eg: GDPR). Also, we do not feel it is what users want. What we feel users want is to buy, transfer/use and store ICX with ease.

1 Like

Initial Review Result Comments

Review Result


Review Comments

This sounds like a really good idea but we think it is too similar to MyICONWallet and other wallets we have. Simplex integration can happen with MyICONwallet or any existing ICON wallet too so we think there is a lot of overlap. If you think there is a significant difference and lots of value added from your wallet vs ICONex vs MyICONwallet vs Atomic Wallet please let us know and we will consider again.