On Wednesday, Temple Wallet achieved a remarkable milestone by unveiling a major update that introduced the TKEY token, making history as the first-ever wallet token on the Tezos blockchain. Temple Wallet is renowned as the leading non-custodial wallet in the Tezos ecosystem, with a user base of over 250,000 installs.
The recent update solidified Temple Wallet’s position as a frontrunner in the industry. It introduced exciting features such as iCloud and Google account creation, in-app swaps cashback, enhanced delegation options, and the introduction of the Temple Wallet Token “TKEY.” Notably, a portion of the swap fees collected is used to burn Temple Tokens, contributing to the token’s deflationary mechanism.
The Temple Wallet Token serves multiple purposes, rewarding users and promoting the overall Tezos ecosystem, with a focus on raising awareness about Temple. Tezos, the blockchain with which Temple Wallet operates, is a lPoS (liquid proof-of-stake) blockchain known for its diverse array of decentralized protocols catering to various activities such as exchanges, staking, yield farming, lending, and other popular DeFi endeavors.
Tezos gained prominence in 2017 when it raised $232 million through crowdfunding, making it the largest Initial Coin Offering (ICO). The ecosystem has since evolved, attracting a growing number of users due to its low transaction fees and abundant opportunities for exploration and growth.
Please note that the information provided in this press release is not investment advice, financial advice, or trading advice, and it is strongly recommended to practice due diligence before investing or trading securities and cryptocurrency.