Over the past six months, the product team worked closely with our engineers and early customers to build the most secure self-custody solution tailored for institutional customers seeking a secure gateway into DeFi.
At Levain, transparency is not just a buzzword but a guiding principle integral to our team. As we continue to grow in the space of institutional custody, we are fully committed to sharing our progress, highlighting our product deliveries over the past 6 months, and providing insights into our ambitious plans for our product for the rest of the year.
Our journey over the past 6 months
Let’s start from the beginning. Last year (2022), several institutional customers expressed interest in using Bake. However, without the right features for institutions – for example, the platform does not accommodate multiple users on a single account – the team saw an opportunity in the enterprise space.
Provable self-custody wallet (Multi-signature)
We understood the paramount importance of security and transparency for our users, and thus focused on building the most secure self-custody wallet in the market. The result of this focus was Levain's provable self-custody wallet. At its core, the concept of provability allows our customers to verify that no external entities have access to their funds, ensuring no unauthorized access, movement, or exploitation of their assets. We believed this was important for many retail and institutional customers, who had left billions of assets with platforms such as exchanges, expecting their assets to be kept safe. This proved to not to be the case, given all that transpired in 2022.
DeFi access via WalletConnect v2
Next, we expanded our reach beyond the self-custody wallet to access the DeFi ecosystem. We started by building Levain for asset managers, a segment that was not only looking to secure their assets, but also deploy them to DeFi protocols to generate yield. This led us to integrate Levain with WalletConnect v2, enabling access to popular protocols such as Curve, Aave, Lido, Uniswap, and more.
Institutions also needed to customize their policies and workflows to meet their operational needs. In response to valuable feedback from potential customers who expressed frustration with overly complex transaction management experiences on other platforms, we developed a user-friendly interface with robust policies that enable users to safeguard their funds effectively.
Basic portfolio monitoring
Lastly, recognizing the importance of comprehensive portfolio management for asset managers, we built a basic portfolio monitoring system to provide users with detailed transaction monitoring capabilities, both at the wallet and portfolio levels. This dashboard gives users a clear overview of their transactional activities, promoting informed decision-making and reporting.
With a secure and robust foundational technology in place, we will be enhancing our capabilities for the remainder of the year.
Looking forward to the next 6 months
No matter the stage of our product journey or our future roadmap, we are firmly anchored in customer-centricity. Our philosophy is simple yet powerful - we work closely with our potential customers to understand their pain points before building and enchancing aspects of our product to address these challenges. We are committed to building for what truly matters to our customers, delivering solutions they genuinely need and can rely on.
With this customer-centric focus in mind, here is an overview of what we will cover in the next 6 months:
We are excited to announce critical advancements in our multi-chain support. We will be fully EVM compatible for Levain’s hot wallet, and for our cold wallet, we will be expanding our reach to include popular chains like Bitcoin, Polygon, Binance Smart Chain, Tron, and Arbitrum. By branching out into Bitcoin, we intend to offer support for Ordinals, as well as set the stage for future support of other UTXO chains like DeFiChain.
Advaced portfolio monitoring
We recognize that robust portfolio monitoring and insightful reporting are integral components of our users' experience. In the coming months, we will introduce a Profit & Loss (P&L) view, enabling users to track their portfolio value over time.
Additionally, we are working on incorporating a comprehensive view of dApp assets, allowing users to efficiently manage their deployments and assess risk factors such as collateral ratios. We know how challenging it is to have full visibility of transactions in this industry, and that’s why we are dedicated to enhancing transaction visibility by enabling on-chain transactions and bringing human readable transactions pre- and post-transaction.
In addition to these improvements, we plan to introduce an export feature, enabling users to export their data for post-analysis purposes.
Expanding beyond asset managers to Web3 companies
In recent weeks, we started receiving inbound requests from companies in the Web3 space, such as neobanks and crypto platforms, looking to use Levain. To serve these enterprises effectively, we are actively developing wallet forwarders and wallet APIs, providing Wallets-as-a-Service infrastructure to support their operations.
At Levain, we are passionate about building cutting-edge solutions for our customers and helping them succeed in DeFi. Over the next few months, we will share our progress and exciting developments through monthly product updates.
Your feedback and opinions are highly valued, and we would love to hear from you. Please feel free to share your feedback with our team.