Over the past few months, I've been keeping a close eye on the fast-growing Braavos project on Starknet. The relentless dedication and consistent product innovation of this team have piqued my interest. What I find fascinating about Braavos is its three key products, each capable of standing as an independent project - the Braavos Smart Wallet, the mySwap AMM DEX, and the Stake+ DeFi Pooling.
These are not just three separate entities under a single brand, but three interwoven elements, each amplifying the potentials of the others.
Moreover, the Braavos project, despite its rapid growth, is relatively new in the crypto space and solely operates on Starknet. This increases the potential for a significant airdrop as the rewards won't be distributed among a large number of users across multiple networks, as is the case with older projects.
This creates a compelling scenario for airdrop farming - a potential for three different airdrops, each one enhancing the value of the others 🤯
Let's unpack.
Braavos Smart Contract Wallet – Security First
The Braavos Wallet leverages Starknet's inherent account abstraction mechanism to provide new levels of security in the crypto space, namely two-factor authentication (2FA) and three-factor authentication (3FA). As the team keeps iterating, a good form of security requires to have at least two out of these three authentication factors - something you know, something you have, and something you are.
By utilizing mobile device security features such as the Secure Enclave, the Braavos wallet generates hardware keys that never leave this secure space, allowing transaction signing solely via fingerprint or face ID. This reinforces the 'something you have' (mobile) and 'something you are' (biometric) authentication factors.
Further to increase security even more, the team has introduced 3FA, which requires signing from two different devices for a transaction to be executed. For instance, you might sign from your Braavos browser extension (representing 'something you know'), then from your mobile (which embodies 'something you have' and 'something you are') - a holistic application of 3FA.
Adding to these impressive features, the Braavos team has recently rolled out the Multi-Owner Account, where each owner is authenticated using multiple factors - a substantial advancement beyond traditional multisig options.
If these comprehensive security measures weren't convincing enough, Braavos has a slew of other features. Moreover it is the sole mobile wallet for Starknet, accommodating users who will engage with the network via their mobile devices as it matures.
mySwap AMM – the Fastest Growing DEX
The mySwap AMM DEX forms another major pillar of the Braavos Project. This decentralized exchange, built around an automated market maker, is arguably the fastest-growing AMM on Starknet today. According to data from DeFiLlama, it's soon set to take the top spot in terms of Total Value Locked (TVL).
Having been the first DeFi application launched on Starknet, mySwap has recently undergone a significant UI revamp. If the team's hints on Discord are anything to go by, we could be seeing a substantial upgrade in the near future (concentrated liquidity, perhaps?).
It seems to me that if you actively use both the Braavos Wallet and mySwap, your potential for airdrop allocation may see a significant increase.
Stake+ DeFi Pooling – Earn High Yields
Braavos also offers the Stake+ DeFi Pooling feature, a system designed to amplify the benefits of traditional crypto staking. By using Stake+ in conjunction with the Braavos Wallet, users are able to enjoy very low gas fees, an order of magnitude lower than on Ethereum, allowing even small investments of a few hundred dollars to be profitable.
On top of the Stake Pooling, the Braavos team also introduced the Staking Boost feature that takes your liquid staked tokens and provides them as liquidity to the mySwap AMM ETH-wstETH pool. Currently, the APR there is extremely high, making that a very profitable investment for early adopters.
According to a recent Twitter Space with the team, more investment opportunities will be added in the near future.
A Triple Airdrop Opportunity – Maximizing Your Rewards
The interconnectivity of the Braavos ecosystem presents a unique opportunity for crypto airdrop farmers - the potential of three separate airdrops. Each product's airdrop can potentially boost the value of the others, creating a compounding effect on your investment.
The possibilities of leveraging the interconnectedness of the Braavos Smart Wallet, mySwap AMM DEX, and Stake+ DeFi Pooling offer an unmatched opportunity to maximize your crypto rewards. So, why wait? Download the Braavos Wallet, interact with the Stake+ and mySwap on the mainnet, and embark on an exciting journey in the crypto space with the Braavos Project.