Utrum Official Wallet Progress Update

Update on the Upcoming Release of Utrum’s Official Wallet

Utrum’s official wallet is close to release! Our development team has been working nearly non-stop on this intuitive, advanced wallet which will allow users to lock OOT for rewards, claim rewards, and even claim KMD rewards.

Wallet Features

The Utrum multi-wallet, featuring OOT, KMD, and BTC integration has a user-friendly interface and is designed to be as “grandma-friendly” as possible.

Multi-Currency

Utrum Official wallet is a multi-coin wallet and it’s a lite wallet which means you don’t need to download entire blockchain. At release Utrum wallet will support OOT (your’s truly), KMD (Komodo), and BTC.

Utrum (OOT) Wallet

All these currencies are enabled by default and as a user you’ll have just one seed and one WIF to access. This is a huge advantage for those who want easy access to a full bitcoin wallet alongside the OOT and KMD alts.

Easy to Use

We’ve put a lot of work into making the Utrum wallet as simple and user friendly as possible. From the simplicity of seed use and creation, to ease of making transactions and displaying receive addresses, our goal was a straight forward, grandma friendly app.

Easy to use also means compatible. Besides multi-currency compatibility we also have versions created for Windows, Linux and Mac. In addition, as soon as we’ve released the Desktop wallet our mobile wallet development will commence.

We’ve also spent a lot of time ensuring the wallet lends itself to the user experience, providing simple and logical interface for best accessibility by everyone.

Intuitive Transaction History

The Utrum wallet also features an intuitive transaction history for each currency supported. This history can be accessed and each transaction tracked through to it’s appropriate explorer.

Having solid and reliable transaction logs, as anyone who uses crypto wallets will attest, is an important key feature for a good wallet.

Multi-Currency Chart

Utrum wallet includes a live market chart, for each currency supported within the wallet. Using the intuitive hover feature, you can see the exact market price at any given time within the three available time frames: Day, Week, Month.

We know this is an important feature for crypto users so you’re not having to hunt down charts while working with your wallet and currency.

KMD Rewards Claim

Utrum decided to go the extra mile and not simply give users of our wallet the ability to store, send and receive KMD…but also to view and claim KMD rewards!

The Utrum wallet features a rewards indicator and claim button, so you can see rewards earned on your KMD balance and claim them within the Utrum wallet. This makes it even more convenient to use a single wallet with fully functional Komodo rewards tools.

OOT HODL Rewards and Claim

The feature everyone is really anxious to get is, of course, the HODL feature of Utrum’s wallet!

HODL Feature Test Screen

With HODL you can lock your OOT coins for a period of time you choose and earn rewards on your holdings. OOT locked for 60 days, the minimum time frame for reward holdings, will earn 0.834% on the total locked OOT balance. OOT locked for 120 days earns 1.67% on the total locked OOT balance.

With the Utrum wallet you’ll be able to lock the amount of OOT you’d like earning rewards and after the lock time period, you’ll be able to claim the rewards earned. Very simple, very straight forward and easy for all.

Example, if you hold 1000 OOT, you get 1008.34 OOT at the end of the time period. Members will not have access to the funds during this time period and they will be locked using CLTV feature which can be verified on Blockchain. On Day 61, members can claim their funds along the reward. After claiming, they can again deposit their funds for the next 60 days and can repeat as many times as they wish. The reward is valid for 5 years.

It is entirely up to members to participate in this reward program. The reward is an incentive for holding OOT and at the same time keeping OOT away from circulation thus helping the Utrum ecosystem.

Doing It Right The First Time

At Utrum, we believe in doing things right the first time. Sometimes this means unforeseen delays or even small tweaks in schedules.

The Libraries

One of the challenges we faced when innovating the OOT HODL feature, was doing so in conjunction with code standards and bitcoin libraries for full compatibility and flawless functionality. This process lead us to changing some of our original planned libraries and code, to adapt to the lack of available features where other libraries met these needs more efficiently.

Initially we planned for Crypto Conditions but we realized we need a hard fork to do this, so we postponed this idea to implement crypto conditions during platform launch. Then, we started working with bitcoinjs library and we found it is not compatible for HODL purpose, Now we have moved to bitcore library and we hit one last road block signing P2SH. Once done, HODL feature will be accomplished.

Our lead blockchain developer has spent tireless hours restructuring the core code and library sets to accommodate the innovations we are developing through Hodl.

Coming Soon!

We are excited to share that we are in the final stages of the wallet development and design. This means the Desktop wallet, with versions for Windows, Mac, and Linux, will be available soon.

If you are new to Utrum and curious about what we are all about, the project we are building for crypto analysis and review, or just to learn more about our OOT token and community…visit us at https://utrum.io

We have a thriving and active community in Discord and Telegram and would love for you to join!