Cardano (ADA) Wallet Nami Becomes IOG Product, Charles Hoskinson Excited

After the announcement of Nami joining the Input Output Global (IOG) ecosystem, all of its customers might continue using the services as they used to, the official IOG statement says.

Nami wallet now "stewarded" by IOG: What is known so far

Starting from today, Nov. 1, 2023, Nami, a popular noncustodial wallet for Cardano-based cryptocurrencies, is officially a part of Input Output Global (IOG). First introduced over two years ago, Nami becomes the latest addition to IOG's product family.

Thanks to its stressed user-friendliness, it gained significant traction and became a go-to crypto storage and transfer instrument for thousands of Cardano (ADA) community enthusiasts.

Veteran blockchain developer Alessandro Konrad, creator and lead maintaner of Nami, shared the details of his motivation behind joining Input Outout Global (IOG):

Reflecting on it now, it feels surreal what Nami has turned into. It all started with my desire to create DApps and a marketplace contract for SpaceBudz on Cardano. (...) As it continued to grow, it became harder for one person to manage it, and at one point I had to make a decision: either I turn Nami into a business venture of my own or find a capable steward for it. (...) I couldn’t be happier with Nami finding its new home under IOG’s guidance. They possess the necessary resources and expertise to provide Nami with the support it has long needed.

Cardano (ADA) inventor and IOG founder and CEO Charles Hoskinson added that Konrad is working on new products for Cardano (ADA) enthusiasts:

Alessandro did a phenomenal job developing Nami as a leading wallet known for its convenience and ease of use in the Cardano community. We’re excited about the next phase of Nami development and want to thank Alessandro for putting his faith in IOG’s stewardship. We wish him well as he continues to build new products and services for the Cardano ecosystem.

Besides sending ADA and other coins on Cardano (ADA), Nami was a popular instrument for all kinds of operations with non-fungible tokens (NFTs).

Cardano (ADA) DeFi TVL surges to pre-Terra collapse levels

More details about the deal between the Nami and IOG teams are yet to be announced, the official statement says.

Meanwhile, yesterday, Oct. 31, 2023, the aggregated value of assets locked in Cardano-based DeFi protocols exceeded $207 million. This metric almost revisited a 18-month high; the last time it was so impressive was before the crash of the Terra (LUNA) ecosystem.

As per the data of DeFi Llama tracker, almost half of this sum is controlled by the users of two protocols, Minswap and Indigo.