UnityWallet’s DeFi vision: security, simplicity & earnings – an interview with a COO

DeFi without the headaches? Unity Wallet is making it happen. From earning passive income on USDT across six blockchains to eliminating gas fees for USDT TRX transfers, Unity Wallet is tearing down the most significant barriers to mass crypto adoption. COO James Toledano shares how security, AI, and intuitive UX put financial freedom back in users’ hands.

LetsExchange: We’ve seen major exploits in even the most trusted wallets. What security measures does Unity Wallet have in place to protect users from phishing, hacks, and scams?

Unity Wallet: Security is our top priority, and we take a multi-layered approach with multiple fail-safes. Our self-custodial model ensures users retain full control over their private keys and assets, reducing exposure to third-party risks seen in centralized exchanges like Bybit. Hackers are far more likely to target a centralized exchange than an individual wallet.

We use advanced encryption to protect sensitive data, and our 24-word recovery phrase offers robust backup security because it has 2^256 combinations – unlike many providers that still use only 12 words. Cracking a 24-word phrase would take a supercomputer over 1,000 years.

To prevent scams and blacklisting, we integrate KYT (Know Your Transaction) checks to flag high-risk addresses. Our Security Center enhances protection with biometric authentication, a 6-digit PIN, and a Hide Balance feature. Users also receive real-time security alerts via email and in-app notifications.

By combining cutting-edge security with user-friendly features, Unity Wallet ensures a safe and seamless experience.

LetsExchange: With regulatory pressures mounting, self-custody is more important than ever. How does Unity Wallet empower users to truly own their assets without complexity?

Unity Wallet: At Unity Wallet, UX (user experience) is another top priority, and our UI (user interface) is central to removing technical barriers. We continuously refine our design to make crypto and Web3 accessible without compromising user control or security.

Unlike custodial solutions, users hold their private keys, ensuring full ownership of their assets – they are both the bank and the customer. No one can restrict or revoke their access – this is the embodiment of the DeFi ethos.

Our intuitive interface makes wallet management seamless, with built-in recovery via a 24-word seed phrase for added security. Users can effortlessly manage multiple sub-accounts, stake assets, and perform cross-chain swaps, all without intermediaries.

By removing friction, Unity Wallet empowers users with true self-custody, ensuring compliance with evolving regulations while preserving financial sovereignty.

LetsExchange: AI is creeping into every aspect of crypto. Do you see AI playing a role in wallet security, transfer optimization, or UX in Unity Wallet?

Unity Wallet: AI has immense potential to enhance crypto wallets, and Unity Wallet is actively exploring its many applications. AI-driven risk analysis can help identify suspicious transfers in real time, further strengthening security. Additionally, AI-powered gas fee optimization could improve transfer efficiency by recommending the best time and network for transfers.

On the UX front, AI-assisted portfolio insights and predictive analytics may help users make informed decisions. While we remain focused on decentralization, AI will undoubtedly play a role in improving security, usability, and overall wallet efficiency.

The AI space is evolving rapidly, often outpacing integration timelines. For now, we are closely monitoring developments and will strategically implement AI-based features when the time is right, ensuring they add real value to our users.

LetsExchange: Unity Wallet now offers seamless DeFi earning for Tether (USDT) via Aave. How does this integration benefit users, and are there plans to support more DeFi platforms?

Unity Wallet: With DeFi Earn, users can effortlessly convert USDT into wrapped Aave and deposit it into liquidity pools to earn passive, compounding APY across six blockchains – Ethereum (ETH), Avalanche C-Chain (AVAXC), Polygon (POL), BNB Smart Chain (BSC), Optimism (OP), and Arbitrum One (ARB1) – all within the app. No complex setups, no need to leave the wallet or use third-party integrations like WalletConnect – just a seamless way to put USDT to work.

DeFi Earn differs from our staking service as it has no lock-in periods, allowing users to withdraw their assets anytime. By eliminating complexity and gas-intensive processes, DeFi Earn makes DeFi more accessible and seamless while enhancing USDT’s utility beyond stability.

Yes, we are committed to expanding our DeFi integrations and adding more platforms and chains to offer diversified earning opportunities with maximum flexibility and optimized returns.

LetsExchange: Are there plans to introduce additional DeFi services beyond Aave? Could we see staking, yield aggregation, or even a Unity Wallet-native lending protocol in the future?

Unity Wallet: Expanding DeFi offerings is a key focus of our long-term roadmap. We’re actively exploring additional yield-earning mechanisms, including automated yield aggregation across multiple lending protocols to optimize user returns.

We also plan to expand staking support beyond our current offerings – Solana, Near, Cosmos, Oasis, and Velas – allowing users to secure even more blockchains while earning passive rewards. Additionally, we’re exploring a native lending and borrowing feature to provide direct access to decentralized credit markets.

Our long-term goal is to build a comprehensive DeFi suite that maximizes earning potential while maintaining security and ease of use.

LetsExchange: With WalletConnect integration, users can access numerous decentralized applications (DApps). How does this feature expand Unity Wallet's ecosystem and benefit its users?

Unity Wallet: Our advanced WalletConnect integration transforms Unity Wallet into a powerful gateway to Web3. Users can seamlessly connect to 1000’s of dApps, including DeFi platforms, NFT marketplaces, games, lending and borrowing services, and other types of decentralized exchanges, all while maintaining full control over their assets.

WalletConnect ensures a frictionless connection to the decentralized economy, further enriching the Unity Wallet ecosystem and eliminating the need for multiple wallets, providing a truly unified experience with enhanced security.

LetsExchange: Could you elaborate on the fee structure associated with DeFi Earn, including network/gas fees and Unity's fees, and how Unity Wallet maintains transparency?

Unity Wallet: Users incur standard blockchain network (gas) fees when depositing or withdrawing funds from protocols like Aave, with costs varying based on network congestion. In addition, Unity Wallet charges a transparent 0.5% fee for DeFi Earn.

We ensure clear breakdowns of all costs before any transfer is confirmed, so users understand potential fees upfront. We aim to make DeFi participation as transparent, seamless, and cost-efficient as possible.

LetsExchange: Can you provide details on how the Unity Wallet loyalty program works and its impact on user engagement and retention?

Unity Wallet: The Unity Wallet loyalty program rewards users for engaging with our ecosystem – including simply opening the app. Users earn points through transfers, swaps, staking, shopping, DeFi Earn, and community engagement. These can be redeemed for exclusive perks like reduced transfer fees, feature unlocks, and priority access to new tools.

This incentivizes long-term engagement and fosters a strong community. By providing tangible rewards for everyday use, our program enhances retention and encourages users to explore Unity Wallet’s full capabilities, transforming it from a simple storage solution into a dynamic financial tool.

LetsExchange: Human Wallet has introduced solutions to prevent blind signing attacks, a vulnerability exploited in the Bybit hack. Is Unity Wallet implementing similar features to protect its users?

Unity Wallet: Yes, we are committed to mitigating blind signing risks. We implement clear transfer previews, ensuring users see what they sign before approval. Our security roadmap includes enhanced smart contract verification tools, which will help users identify potential threats in real time via our built-in Security Center suite of tools. Education also plays a key role – Unity Wallet continuously provides guidance on best practices to prevent scams and unauthorized transfers.

LetsExchange: Can you share any upcoming features or partnerships that Unity Wallet users can anticipate in the near future?

Unity Wallet: Absolutely! We’re launching our Gasless feature, initially for TRX and TRC-20 tokens. This enables users to send Tether (USDT TRX) and other supported assets (coming soon) without needing TRX for gas fees.

After a one-time approval, our smart contract covers TRX costs, allowing users to pay fees in USDT instead – eliminating the need to acquire TRX for gas fees.

The fees are baked into the USDT transfer, ensuring a seamless experience that far outweighs the hassle of manual gas-fee management. We also continue to expand DeFi integrations, staking, and cross-chain functionality.