Please introduce yourself so our audience can learn more about you and your team
Magnum Wallet is a light wallet created by a group of nine blockchain enthusiasts with backgrounds in software development and product management. We have a dedicated team located in Saint Petersburg, Russia. We are also using the services of outsourced workers that can add value to our team.
At the moment we are working with experts in IT, fintech, blockchain, security, marketing, design and UI/UE.
Please tell us more about your wallet? Does it support main net IOST Tokens?
Magnum was developed with the idea to bring passive income for its users. That’s why our team is so thrilled about the IOST network which is aimed to support voters by rewarding them.
We strongly believe that users need to store their private keys themselves in order to have true control over their crypto assets. Magnum was created to be non-custodial, therefore encrypted private keys are only stored on users’ devices in the browser’s cache or/and in a backup file.
Magnum Wallet has been supporting IOST on the main net since its launch, and we will continue contributing to provide our voters with the highest value.
What benefits does your wallet offer over others?
Everyone who starts using Magnum finds opportunities to earn extra coins: claiming forks or staking coins are the best options. Today users can claim up to 13 forks and stake in 3 networks. IOST is the new coin for earning passive income.
Our team is continuously expanding the options: hardware wallet support, a built-in exchange, a Telegram-based block explorer, and many other features have been developed to meet the audience’s needs.
Why did you decide to run for election as a node candidate for IOST?
As I mentioned before, our mission is to provide users with additional income. Maintaining a node is the perfect way to achieve that. Moreover, since revenue depends on the contribution to the IOST ecosystem, we are motivated to improve our service and collaborate with the community.
Do you run nodes for any other blockchains?
We haven’t launched any other node, except for those we need to maintain wallet services, but those are non-profit.
Shifting or expanding the field of business is a very important step for our team. We had been looking for a network to start with, and IOST was found to be the best choice.
Can you tell us about your plans to help grow the IOST ecosystem?
Being a team that is actively developing a light wallet, we have many valuable options to provide. Magnum Wallet has supported IOST since the main net launch, and our team is going to implement token swap which will allow users to swap tokens from within their own wallet account.
Moreover, in the future, we are going to connect IOST to our built-in exchange and add hardware wallet support for it as well.
For each user of our wallet, Magnum offers several options to get extra rewards and IOST has become our most promising opportunity. This way we will engage more users to participate in the voting process on the IOST network.
We have published an article on the topic to introduce IOST to our users. The next one will elaborate on our comprehensive contribution plan.
What are you most excited about for IOST?
There are many blockchains in which users can delegate their funds to block producers, but typically all rewards from generating and endorsing blocks first go directly to these producers.
This synergistic effect is pushing to create an infrastructure and awareness about IOST that will in turn attract many more people and organizations.
Anything else you would like to add to this interview?
Contribution assessment results of the first 3 months will be revealed at the end of June 2019. Nodes and their voters will receive rewards depending on the nodes’ contributions. Our aim is to become a Tier 1 node to get the maximum rewards and distribute it to our voters.
Many Thanks to Andrey from Magnum Wallet for taking time out to do this interview.