WalletConnect is an open-source protocol that facilitates secure communication between decentralized applications (dApps) and wallets such as Levain.
It enables users to interact with dApps on their preferred browsers, while keeping their private keys securely stored on their personal devices. This enhances security by allowing users to approve transactions on their Levain wallets, maintaining control over their private keys without exposing them to potential risks associated with the browser.
Here's how you can use Levain and WalletConnect to connect to DeFi (Decentralized Finance) protocols. For this example, we will be using popular DeFi protocol Uniswap:
1. Access Decentralized Application (dApp)
Open the DeFi protocol or dApp – such as Uniswap – you want to use on your desktop browser.
2. Connect dApp with WalletConnect
Look for the WalletConnect option within the dApp interface. This is usually found in the settings or connection section. Select WalletConnect as your connection method.
3. Scan QR Code
Copy the address on WalletConnect and go back to your Levain wallet and paste the address in the field under WalletConnect.
4. Confirm Request
Once the address has been input, Levain will prompt you to confirm the connection.
5. Interact with the dApp
After the connection is established, you can now interact with the DeFi protocol through your browser. Your Levain wallet will handle transaction approvals and other relevant authorizations securely.
Unlocking Possibilities with WalletConnect
Apart from connecting to dApps via Levain, here are some of the key things you can do with WalletConnect:
- Provide Liquidity: Participate in liquidity pools on DeFi platforms, allowing you to earn rewards by contributing your assets to DeFi protocols.
- Access Yield Farming Protocols: Engage in yield farming activities by providing liquidity to DeFi protocols and earning tokens as rewards. WalletConnect facilitates secure authorization of these transactions.
- Participate in Token Sales and Initial DEX Offerings (IDOs): Contribute to token sales and IDOs on decentralized platforms by securely approving transactions through your connected mobile wallet.
- Stake and Unstake Assets: Stake your cryptocurrencies in DeFi protocols to earn staking rewards or participate in governance, and easily unstake them when needed.
WalletConnect supports a broad range of use cases within the DeFi ecosystem and the broader blockchain space. If you’re an asset manager, treasury manager or anyone looking to invest into DeFi, WalletConnect provides a more secure and user-friendly experience for anyone interacting with DeFi protocols via Levain. It also ensures that your private keys remain on your device, reducing the risk of unauthorized access or compromise. Additionally, it offers a seamless and convenient way to manage your DeFi assets across different platforms.
Learn more on our Developer docs.
Levain makes it easy to start, run and grow any crypto business with enterprise-grade security and self-custody wallet infrastructure.
With Levain, companies can easily build and launch crypto products or services, without being burdened by the complexities of blockchain development or regulatory challenges.