OKTO launched its AI-based self-custodial wallet space
According to an official release, Okto, a Defi wallet app, in partnership with CoinDCX, a crypto exchange, has introduced an AI-based Multi-Factor Authentication, a technology that might improve the security of self-custodial DeFi wallets. The wallet is expected to be designed for helping users to swap tokens and earn from DeFi opportunities along with a smooth user experience. It is believed that investors such as Coinbase Ventures, Bain Capital and Pantera among others, have invested in this project.
Supposedly, this all-in-one Web3 app will eliminate the need for safeguarding seed phrases ensuring full control of funds with users. It will also remove the risk of a single point of failure using state-of-the-art, custom-built, consensus-driven Multi-Party Computation (MPC) technology.
“With our new security feature backed by AI, we hope to increase user confidence and trust in self-custodial wallets,” Neeraj Khandelwal, co-founder, Okto, CoinDCX, mentioned.
Reportedly, the wallet will support multiple protocols and has integrated with Web3 chains such as Polygon, BSC, and Avalanche, including other protocols like Stader and WooFi, among others. One of Okto’s key features is its Earn functionality which will users to earn returns on their existing tokens by adding them to liquidity pools and staking. Furthermore, Okto is available on Playstore for Android users.
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