Main navigation

Paw Chain Team Building PAW Layer 2 Wallet: Details

Wed, 05/03/2023 - 11:54
article image
Yuri Molchan
Following news of Shiba Inu creating its own cold wallet, Paw Chain has made similar announcement
Paw Chain Team Building PAW Layer 2 Wallet: Details
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Contents

In a recent tweet, the official account of Paw Chain spread the word that the team is working on constructing a native Layer 2 cryptocurrency wallet.

The tweet announced its code name, PAWallet. It will enable users to safely store their crypto assets. The wallet will also include a technology "to interact peer-to-peer off-chain" for holders of PAW (the native token of the Paw Chain and the PawSwap DEX, which is currently being built).

Besides, the tweet revealed that the developers are creating a large range of additional features for their wallet. No other details have been shared so far.

The news of the Paw Chain team working on their own wallet emerged after the same news was announced by the SHIB team; they are building their own customized cold storage wallet for their ecosystem.

In March, U.Today reported that the PawSwap DEX planned to begin removing PAW tokens from the circulating supply by burning them. An announcement was made about PAWBURNS being launched soon.

Related
DOGE Founder Says Solana Is Centralized Database and Solves Nothing

Paw Chain Aggregator released

Earlier this week, as reported by U.Today, Paw Chain proudly announced the launch of an aggregator that allows users to make swaps across existing pools of liquidity.

Each transaction made through this aggregator will allow developers to burn PAW tokens by charging transaction fees.

The code of the aggregator has now been sent to CertiK for an audit. Last week, the Paw Chain team shared that CertiK had approved its newly built PAW staking portal, saying that the code met its requirements and standards.

Yesterday, word spread on Crypto Twitter that over 200 trillion PAW had been staked. Before that, 190 trillion had been staked within less than 24 hours for 13 weeks.

PawSwap (PAW) down 4%

CoinMarketCap platform's data shows that over the past 24 hours, the PAW price has gone down nearly 4%. This comes after a rise of 7.2% spotted for the coin yesterday. It coincided with the news of the aforementioned launch of the aggregator for burning PAW tokens.

At the time of this writing, PAW is changing hands at $0.00000002906 — already down 4.09% in the red.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.