Burrito Wallet is a multi-chain Web 3.0 wallet developed by a subsidiary of Bithumb, a leading Korean crypto exchange. It aims to provide users with a user-friendly interface and connects them to decentralized exchanges (DEXes), DeFi platforms, NFT marketplaces, and various DApps without travel rule constraints.^[1][2]

Overview

Burrito Wallet, launched in December 2022, is a user-friendly Web3.0 wallet developed by a subsidiary of Bithumb. It serves as a mobile wallet directly linked to Bithumb, allowing seamless asset transfers from the exchange without separate wallet registration.

Burrito Wallet aims to simplify the process of transferring assets from Bithumb to personal wallets, aiming to streamline the experience and address concerns about incorrect withdrawal addresses.

With support for over 1,000 tokens on 22 mainnets, Burrito Wallet connects users to decentralized exchanges (DEXes), DeFi platforms, NFT marketplaces, and various decentralized applications (Dapps). It provides comprehensive access to the main DEXes for each mainnet and supports popular NFT marketplaces. Future plans include introducing Liquidity Pool Staking for users to yield farm by providing liquidity to pools.^{[1][3][4][5][6][7][8]}

Staking

Burrito Wallet offers a staking service in collaboration with Casper. Casper operates on a Proof-of-Stake (POS) model, where users must deposit Casper coins to become validators, responsible for proposing and validating blocks on the network. This process, known as staking, involves depositing tokens into the network.

Validators stake a specific amount of Casper coins to propose and validate blocks, with the aim of earning rewards in Casper coins proportional to their staked amount. For users unable to participate directly as validators due to time constraints or other limitations, there's an option to delegate their Casper coins to existing validators. Through delegation, users can stake their coins and potentially receive rewards based on the amount staked.^[9]

Burrito Point System

The upcoming Burrito Point System update aims to improve user benefits by offering confirmed airdrops through accumulated points, replacing the previous first-come, first-served or lottery-based distribution method. Users can earn points through various events and basic wallet functions, with rewards exchangeable for tokens in the future.

Additionally, plans include introducing a spot product exchange service. ^[10]

Burrito Wallet V2

Beta Launch

On March 14th Burrito Wallet has launched an open beta phase for version 2 of its Web3.0 digital wallet, running for approximately three weeks. During this period, users can explore core features like the Burrito Points System and Community Space, while also taking part in events to earn Burrito points and participate in token exchangeable airdrops.

The open beta offers users a chance to preview Burrito Wallet v.2 before its official launch, with all stored coins and associated information securely maintained throughout the testing phase.

However, Burrito points obtained through misuse or technical issues, as well as community content posted during the beta, may be subject to review and possible removal. Routine maintenance checks may occur during the beta to ensure safety and usability, with users notified beforehand through various channels.^[11]

Partnerships

Burrito Wallet x Casper Labs

Burrito Wallet has partnered with Casper Labs, aiming to integrate their secure mobile wallet with Casper's sustainable blockchain infrastructure. Casper Labs focuses on providing a decentralized platform using the energy-efficient Casper consensus algorithm.

This collaboration is intended to enable users to conveniently manage assets and interact with dApps directly from Burrito Wallet's interface, facilitating faster transactions and wider blockchain adoption.^[12]

Burrito Wallet x 1inch Network

Burrito Wallet and the 1inch network have formed a partnership with the goal of enhancing the DeFi experience for users. 1inch, known for its decentralized exchange aggregation, seeks to improve trading efficiency by aggregating the best prices from multiple DEXs.

his collaboration aims to simplify cryptocurrency swapping and provide direct access to various DeFi applications, contributing to a more user-friendly DeFi ecosystem and fostering mainstream adoption.^[13]