Tiplink: Revolutionizing Crypto Onboarding with Link-Based Wallets

In a recent episode of the Unlayered podcast, host Sal sat down with Greg Gotsis from Tiplink to discuss their groundbreaking approach to crypto wallet onboarding. Tiplink's innovative solution aims to simplify the user experience and potentially onboard billions of new users to the Solana ecosystem. This article delves into the key insights from their conversation, exploring Tiplink's technology, growth strategies, and vision for the future of crypto adoption.

What is Tiplink?

Tiplink is a digital wallet provider that has developed a unique approach to crypto onboarding. At its core, Tiplink allows users to create and distribute wallets as simple links, making it incredibly easy to share and send ownership of digital assets across the internet. This innovative system leverages existing web infrastructure and social media applications, potentially unlocking mass market user behaviors without reinventing the wheel.

The Tiplink Wallet Adapter

One of Tiplink's most recent and significant innovations is the Tiplink Wallet Adapter. Greg explains, "We actually launched two products. We'll focus more on the Tiplink wallet adapter. To start, Tiplink wallet adapter is a package that plugs into the Solana wallet adapter, making it super easy for existing Solana web apps, and soon mobile apps to create a login with Google button via the Tiplink wallet."

This development addresses a common pain point in the crypto space - the often complicated onboarding process for new users. By integrating with the Solana wallet adapter, Tiplink enables dApps to offer a seamless "Login with Google" option, dramatically reducing the friction for first-time crypto users.

Tiplink Pro: Scaling Wallet Distribution

Alongside the Wallet Adapter, Tiplink has introduced Tiplink Pro. This tool allows for the creation and distribution of Tiplink wallets at scale. Greg elaborates, "Pretty much what this does is allows you to create and distribute Tiplinks at scale. So for people who aren't aware, Tiplink is an ephemeral wallet, so you can spin up a wallet. The wallet is a link. So I can put $5 on there. I can put some tokens on there, NFTs, and then I can actually send this link to someone over iMessage, over DMs, etc."

This functionality opens up new possibilities for businesses, event organizers, and marketers looking to distribute crypto assets to large audiences quickly and efficiently.

The Technology Behind Tiplink

Tiplink's wallet solution is built on the Torus network, which provides a robust foundation for key management. Greg explains, "We specifically made the decision of building on the Torus network. If you're familiar with them, they are built by Web3Auth. That's what Web3Auth is built on."

The Torus network uses a Byzantine fault-tolerant system of nodes to manage key generation, storage, and retrieval. This approach ensures that no single node can compromise the security of a user's wallet. When a user logs in with their Google account, the network retrieves key shards from multiple nodes and reconstructs the key locally on the client side, maintaining a high level of security and user privacy.

Tiplink's Growth and Marketing Strategy

Rather than relying on token launches or farming incentives, Tiplink's growth strategy focuses on solving pain points for interesting projects in the crypto space. Greg shares, "Our strategy here is building tools that make it easier for other interesting projects to onboard."

This approach has led to collaborations with organizations like Super Team, who use Tiplink Pro for IRL events, and NFT projects like the Chads, who leverage Tiplink for distribution and onboarding. By providing valuable tools to other projects in the ecosystem, Tiplink aims to grow organically alongside the broader Solana community.

Positioning in the Wallet Landscape

In the competitive world of crypto wallets, Tiplink positions itself as an ideal solution for new users. Greg explains, "We see the Tiplink wallet as probably one of the best wallets for new users. If you're an existing crypto user, you probably have a solution that works for you."

Tiplink acknowledges that their wallet is designed to be a "hot wallet" - easily accessible but potentially less secure for large holdings. However, they plan to introduce additional security features like 2FA and vault products in the future to address this concern.

The Future of Wallets: Tiplink's Perspective

Looking ahead, Tiplink believes in the power of composable wallets. Greg states, "I think one of our theses or how we built the Tiplink wallet is there's a ton of power in your wallet being composable. You lose a lot of the open internet or global computer composability narratives when you start to have these embedded wallets that are siloed."

While acknowledging that some applications may benefit from embedded wallets, Tiplink is betting on the importance of cross-dApp compatibility as the ecosystem grows and matures.

Tiplink's Team and Future Plans

Tiplink boasts a strong team of nine members, many with backgrounds in traditional finance and big tech companies. Founded by Ashik and Ian, who previously worked at Citadel, the company has raised funds from notable investors including Sequoia, Multi-coin, Circle, and Paxos.

Looking forward, Tiplink is focusing on growth and actively hiring to scale their operations. Greg mentions, "We're in a stage where, okay, there's a handful of polish items we need to do, but there's also unlimited new features that you can always ship. So balancing that is tough."

Payments: A Key Focus for Tiplink

While Tiplink has expanded its product offerings, payments remain a central focus for the company. Greg reveals, "One of our really big focuses is payments and B2B payments, and then also global remittances. So doing a massive sprint of having a really nice and unified on-ramp UX that works globally."

The team sees significant potential in stablecoin payment use cases, particularly in the realm of global remittances. They're closely watching developments in this space, including efforts by other Solana startups like Sphere and Decath in the Latin American market.

Addressing On-ramp and Off-ramp Challenges

One of the persistent challenges in the crypto space is the difficulty of moving between traditional currency and cryptocurrencies, especially in emerging markets. Tiplink is tackling this issue by leveraging existing on-ramp and off-ramp providers while focusing on improving the user experience.

Greg explains their approach: "Currently we're leveraging on and off ramp providers. There is a world where we get closer to the metal. I think right now we're just really focused on the UX side of things in bandwidth."

While Tiplink isn't currently building its own on-ramp solutions, they're closely watching developments in this space and plan to integrate with regional providers who may have advantages in licensing and local market understanding.

Tiplink and Solana Blinks

Tiplink has positioned itself to be compatible with Solana's new Blinks primitive, which evolved from the earlier Solana Pay transaction requests. Greg expresses enthusiasm for this development: "I think the blinks primitive is incredible. It's nice to see the standard for what was originally Solana Pay transaction requests evolve into blinks."

While acknowledging that the current market for Blinks is relatively small (limited to Chrome extension users on Twitter web), Tiplink sees an opportunity to expand its utility. Their solution aims to make Blinks work well in scenarios where users don't have a Chrome extension or are on mobile devices.

Mobile Strategy and Challenges

With mobile usage dominating internet traffic, Tiplink has given careful consideration to their mobile strategy. Greg explains their current approach: "We chose to be a web app, which has its trade-offs on mobile. It makes the onboarding incredibly easy. Inherently, your UX is a tad less smooth."

This decision allows Tiplink to avoid app store restrictions and enables rapid iteration. However, they recognize the importance of mobile and are working on solutions to improve the mobile experience, including a wallet adapter for mobile apps and potentially a dedicated mobile app in the future.

Innovative Transaction Signing

One of Tiplink's most impressive innovations is their method for transaction signing, which creates a seamless experience even on mobile devices. Greg explains: "We're using iFrames and popups. And that modal you're seeing is an iFrame that we embed into the site. And we get some browser security guarantees that neither the DAP or us can see the private key."

This approach allows users to sign transactions without leaving the current app or website, providing a user experience that rivals desktop wallets with Chrome extensions.

The Journey to Product-Market Fit

Tiplink's path to their current product offering was not linear. The team spent considerable time experimenting and refining their approach. Greg shares, "We always knew we were going to need to build this feature just from users asking for it. We put it off for a while for other polishing reasons, mainly just seeing opportunity and payments, wanting to make our on and off wrap ramps sleek."

This iterative process, driven by user feedback and a commitment to quality, led to the development of their current wallet adapter and embedded signing solution.

Tiplink's Vision for the Future

Looking ahead, Tiplink has ambitious plans to continue innovating in the wallet and payments space. In the short term, they're focused on rolling out their embedded wallet widget and improving scalability. Greg mentions, "We're really focused on trying to build some disruptive payment products, things that rival with traditional payments."

The team sees significant potential in combining their various tools - from the wallet adapter to Tiplink Pro - to create powerful solutions for emerging markets where stablecoins can have a significant impact.

Implications for Solana Ecosystem

Tiplink's innovations have significant implications for the Solana ecosystem. By dramatically simplifying the onboarding process and enabling easy distribution of wallets, Tiplink could play a crucial role in accelerating adoption of Solana-based applications.

The company's focus on mobile web solutions also aligns well with Solana's emphasis on high-performance and low-cost transactions, potentially opening up new use cases in emerging markets where mobile internet is the primary form of access.

Challenges and Competition

While Tiplink's approach is innovative, they face challenges in a competitive landscape. Other wallet providers and embedded wallet solutions are also working to simplify onboarding and improve user experience. Tiplink will need to continue innovating and leveraging their unique link-based approach to maintain their edge.

Additionally, as they move more into the payments space, they'll be competing with both traditional fintech companies and other crypto-native solutions. Their success will likely depend on their ability to create truly disruptive products that offer significant advantages over existing solutions.

The Importance of User Experience in Crypto Adoption

Tiplink's focus on user experience highlights a crucial factor in driving crypto adoption. By making it as easy as possible for new users to get started with crypto, Tiplink is addressing one of the major barriers to entry in the space.

Greg emphasizes this point: "We're focused on how do we make this incredibly easy for users who are crypto curious, who have never touched a wallet, you can get started in under a minute instead of closer to like three to five minutes with downloading an app, Chrome extension, etc."

Balancing Security and Convenience

One of the ongoing challenges in the crypto wallet space is balancing security with convenience. Tiplink acknowledges that their current solution is best suited for "hot wallet" use - easily accessible but not ideal for storing large amounts of value.

However, they're not ignoring security concerns. Greg mentions plans for additional security features: "We will in the future, as we see balances start to rise, build out solutions like 2FA or even a vault product." This approach allows them to prioritize ease of use for new users while planning for the needs of more experienced users with larger holdings.

The Role of Social Login in Crypto Adoption

Tiplink's use of Google login as an onboarding mechanism represents an interesting trend in the crypto space - leveraging existing web2 infrastructure to simplify web3 onboarding. By allowing users to create a wallet with a familiar Google login, Tiplink reduces the cognitive load for new users entering the crypto space.

This approach could be particularly effective in attracting users who are curious about crypto but have been intimidated by the technical complexity often associated with wallet creation and management.

Tiplink and the Evolution of Web3 Infrastructure

Tiplink's innovations are part of a broader trend in the evolution of web3 infrastructure. By creating tools that make it easier for other projects to onboard users, Tiplink is contributing to the development of a more user-friendly and accessible crypto ecosystem.

Their approach aligns with the vision of web3 as an open, interoperable system. As Greg notes, "There's a ton of power in your wallet being composable. You lose a lot of the open internet or global computer composability narratives when you start to have these embedded wallets that are siloed."

The Potential Impact on Global Remittances

Tiplink's focus on payments and global remittances could have significant implications for international money transfers. Traditional remittance systems often involve high fees and slow processing times. By leveraging the speed and low cost of Solana transactions, combined with the ease of use of their wallet solution, Tiplink could potentially disrupt this multi-billion dollar industry.

Greg hints at this potential: "We think there's a couple markets that have really interesting stablecoin payment use cases, like global remittances there." This could be particularly impactful in emerging markets where remittances form a significant part of the economy.

The Role of Stablecoins in Tiplink's Strategy

Stablecoins play a crucial role in Tiplink's vision for payments and remittances. By providing a crypto asset that maintains a stable value relative to fiat currencies, stablecoins can serve as a bridge between the traditional financial system and the crypto ecosystem.

Tiplink's focus on making it easy to send and receive stablecoins could help drive adoption among users who are interested in the benefits of crypto (such as fast, low-cost transfers) but are wary of the volatility associated with many cryptocurrencies.

Tiplink and the Mobile-First Future of Crypto

Tiplink's emphasis on mobile-friendly solutions aligns with broader trends in internet usage, particularly in emerging markets. By focusing on creating a seamless mobile web experience, rather than immediately building a native mobile app, Tiplink is positioning itself to reach a wide audience of mobile-first internet users.

This approach could be particularly effective in regions where smartphone adoption is high but users may be less likely to download new apps, preferring instead to access services through their mobile browser.

The Importance of Composability in Web3

Throughout the interview, Greg repeatedly emphasizes the importance of composability in web3 applications. This principle - the ability for different applications and protocols to easily interact and build upon each other - is a key feature of the web3 vision.

By creating a wallet solution that can easily integrate with a wide range of dApps, Tiplink is contributing to this vision of an interconnected, composable web3 ecosystem. This approach could help accelerate innovation by making it easier for developers to build on top of existing infrastructure.

Tiplink's Role in Lowering Barriers to Entry

One of the most significant potential impacts of Tiplink's innovations is in lowering barriers to entry for new crypto users. By simplifying the wallet creation process and making it easy to send and receive crypto assets via familiar channels like messaging apps, Tiplink could play a crucial role in bringing crypto to a mainstream audience.

This aligns with their stated goal of onboarding "a billion people" to crypto. While ambitious, this goal reflects the potential for significant growth in crypto adoption if key usability challenges can be overcome.

The Future of Wallet Technology

Tiplink's innovations provide interesting insights into the potential future of wallet technology. The move towards more user-friendly, web-based solutions that leverage existing internet infrastructure could represent a significant shift in how we think about crypto wallets.

As Greg notes, "I think in the future, one of our really big focuses is payments and B2B payments, and then also global remittances." This suggests a future where wallets are not just stores of value, but comprehensive financial tools integrated seamlessly into our digital lives.

Tiplink and the Evolution of dApp Onboarding

By creating tools that make it easier for dApps to onboard new users, Tiplink is contributing to the evolution of the entire dApp ecosystem. Their wallet adapter and embedded wallet widget could significantly reduce friction in the user onboarding process for a wide range of Solana-based applications.

This could have a ripple effect throughout the ecosystem, potentially accelerating the adoption and usage of various dApps by making it easier for new users to get started.

The Potential for New User Behaviors

Tiplink's link-based wallet system has the potential to enable entirely new user behaviors in the crypto space. By making it as easy to send crypto as it is to send a link, Tiplink could facilitate more casual, everyday use of cryptocurrencies and blockchain-based assets.

This aligns with their vision of meeting users where they are, leveraging existing communication channels and web infrastructure to integrate crypto seamlessly into people's digital lives.

Conclusion: Tiplink's Role in Shaping the Future of Crypto

Tiplink's innovative approach to wallet technology and user onboarding represents an exciting development in the Sol

ana ecosystem and the broader crypto space. By focusing on simplicity, user experience, and leveraging existing web infrastructure, Tiplink is working to address some of the key barriers to mainstream crypto adoption.

While challenges remain, particularly in areas like security and regulatory compliance, Tiplink's progress demonstrates the potential for significant improvements in how we interact with blockchain technology. As the crypto ecosystem continues to evolve, solutions like Tiplink could play a crucial role in bringing the benefits of blockchain and cryptocurrencies to a truly global audience.

The coming months and years will be crucial as Tiplink works to realize its vision of onboarding billions of users to crypto. If successful, their innovations could help reshape not just how we use crypto, but how we think about digital ownership and value transfer in the internet age.

Facts + Figures

• Tiplink has launched two new products: the Tiplink Wallet Adapter and Tiplink Pro
• The Tiplink Wallet Adapter integrates with the Solana wallet adapter to enable easy "Login with Google" functionality for dApps
• Tiplink Pro allows for the creation and distribution of Tiplink wallets at scale
• Tiplink's wallet solution is built on the Torus network, which uses a Byzantine fault-tolerant system of nodes for key management
• Tiplink's team consists of nine members, many with backgrounds in traditional finance and big tech companies
• The company has raised funds from notable investors including Sequoia, Multi-coin, Circle, and Paxos
• Tiplink is focusing on payments, B2B payments, and global remittances as key areas for future development
• The company sees significant potential in stablecoin payment use cases, particularly for global remittances
• Tiplink is compatible with Solana's new Blinks primitive
• The company has chosen to focus on web app development rather than native mobile apps to avoid app store restrictions and enable rapid iteration
• Tiplink uses iFrames and popups to enable seamless transaction signing within dApps
• The company's growth strategy focuses on providing tools to help other projects onboard users, rather than relying on token launches or farming incentives
• Tiplink sees its wallet as particularly well-suited for new users, with plans to introduce additional security features like 2FA and vault products in the future
• The company believes in the importance of wallet composability for preserving the open internet and global computer narratives of web3
• Tiplink's innovations could have significant implications for the Solana ecosystem by simplifying onboarding and enabling easy distribution of wallets

Questions Answered

What is Tiplink?

Tiplink is a digital wallet provider that has developed a unique approach to crypto onboarding. It allows users to create and distribute wallets as simple links, making it incredibly easy to share and send ownership of digital assets across the internet. Tiplink leverages existing web infrastructure and social media applications to potentially unlock mass market user behaviors without reinventing the wheel.

How does Tiplink's Wallet Adapter work?

The Tiplink Wallet Adapter is a package that plugs into the Solana wallet adapter, enabling existing Solana web apps and soon mobile apps to create a "Login with Google" button via the Tiplink wallet. This dramatically reduces friction for first-time crypto users by allowing them to create a wallet using their Google account, without needing to download additional software or manage complex seed phrases.

What is Tiplink Pro?

Tiplink Pro is a tool that allows for the creation and distribution of Tiplink wallets at scale. It enables businesses, event organizers, and marketers to quickly and efficiently distribute crypto assets to large audiences. Users can create ephemeral wallets as links, add funds or tokens to them, and then send these links to recipients over various communication channels.

How does Tiplink ensure wallet security?

Tiplink's wallet solution is built on the Torus network, which uses a Byzantine fault-tolerant system of nodes to manage key generation, storage, and retrieval. When a user logs in with their Google account, the network retrieves key shards from multiple nodes and reconstructs the key locally on the client side. This approach ensures that no single node can compromise the security of a user's wallet, maintaining a high level of security and user privacy.

What is Tiplink's growth strategy?

Rather than relying on token launches or farming incentives, Tiplink's growth strategy focuses on solving pain points for interesting projects in the crypto space. They build tools that make it easier for other projects to onboard users. This approach has led to collaborations with organizations like Super Team for IRL events and NFT projects like the Chads for distribution and onboarding.

How does Tiplink position itself in the competitive wallet landscape?

Tiplink positions itself as an ideal solution for new users entering the crypto space. While acknowledging that their current solution is best suited as a "hot wallet" for easy access, they plan to introduce additional security features like 2FA and vault products in the future. Tiplink emphasizes the importance of wallet composability, allowing users to interact with various dApps seamlessly.

What are Tiplink's plans for mobile users?

Tiplink has chosen to focus on web app development rather than native mobile apps to avoid app store restrictions and enable rapid iteration. However, they recognize the importance of mobile and are working on solutions to improve the mobile experience, including a wallet adapter for mobile apps. They are also considering developing a dedicated mobile app in the future to improve retention and provide a smoother user experience.

How does Tiplink's transaction signing work?

Tiplink uses iFrames and popups to enable seamless transaction signing within dApps. This approach allows users to sign transactions without leaving the current app or website, providing a user experience that rivals desktop wallets with Chrome extensions. The iFrame provides security guarantees that neither the dApp nor Tiplink can see the private key, maintaining user privacy and security.

What is Tiplink's vision for the future of payments and remittances?

Tiplink is focusing on payments, B2B payments, and global remittances as key areas for future development. They aim to create a unified on-ramp UX that works globally and see significant potential in stablecoin payment use cases, particularly for global remittances. By leveraging the speed and low cost of Solana transactions, combined with their easy-to-use wallet solution, Tiplink hopes to disrupt traditional remittance systems and make international money transfers more efficient and accessible.