Increase the funds for Yoroi (EMURGO)?

EMURGO do a great job, they certainly made Yoroi a beautiful looking wallet with great features.

However, as everyone has noticed, Yoroi has taken a long time to update to support Shelley and Hardware wallets again.

Firstly, this is no fault of EMURGO, they are a small company with finite resource and funds.

I want to see the communities thoughts around EMURGO receiving further funding to expand their Yoroi team, either via contracting people, a team or adding to their workforce and equipment (resources) required.

Yoroi is an awesome light wallet, which I believe is fundamental to Cardano with both the Mobile wallets and Browser extension. Maybe this could be extended to further platforms in the future.

I want to see the response and communities thoughts around the Yoroi wallet and then their thoughts around increasing the funds to EMURGO for the Yoroi project.

If the overall consensus is positive, it would be good to see the Cardano Foundation react to this, or for EMURGO to put in a proposal once Goguen and Voltaire are released.

Edit: Their current contract with Cardano is not to build and maintain Yoroi. They are there to help with adoption and companies (usually start ups) to integrate with the Cardano Blockchain.

EMURGO volunteered for Yoroi, I believe we are now at a cross roads where the community needs to decide if they want Yoroi and if they do, EMURGO need to be properly funded. I really like Yoroi and want to see it succeed

13 Likes

I think it is definitely worth being funded and I hope it might lead to a standalone wallet one day since it does not feel as safe as standalone while being an addon only at the moment.

2 Likes

+1 as they say. I would also love to see Yoroi prioritized.

I work for IOHK and while I do have contacts in Emurgo, I do not know the details of their internals.

The main reason for Yoroi support for Shelley being delayed was that the Yoroi team needed to wait for the Shelley work to be finalized and stable on the IOHK side before they could even really start, and unfortunately things on the IOHK side finalized and stabilized much later than it should have (purely my opinon, not something I am saying as a representative of IOHK).

In the case of support for Shelly, more funding and/or more developers would almost certainly not have helped.

7 Likes

I’d definitely like to see support for air-gapped transactions with QR codes on the roadmap. Be happy to vote for funds if that was on there.

Yoroi is great. If it’s money that is needed then why not.

It’s my understanding that only 2 developers are working on Yoroi. I agree that it’s a great product, but before the issue of funding is brought up I would like to see some transparency from Emurgo. They got a show us what was done with the money they got from the ICO, in top of that they got a good chunk of ADA.

What’s Emurgo biggest achievement? A couple of stake house accepting ADA? Maybe not, if that’s not the case they should communicate better their achievements and educate the community on their work.

If today you asked me would the project be the same if Emurgo didn’t exist? What would you miss? My answer would be Yes and Not much.

It seems that IOHK is the one carrying the heavy load, the CF is starting it’s engine and making some progress.

1 Like

Um, don’t you think that it’s quite hard for Emurgo to onboard any new projects or enterprises when the platform is still in development (no smart contracts).

Maybe because there’s not much anyone else can do without IOHK actually delivering Goguen?

4 Likes

Browser extensions are usually safer than desktop applications because browser extensions run in a double sandbox (browsers already isolate things from the rest of your computer so that’s sandbox one. Additionally, browser extensions run in a 2nd sandbox so that websites can’t access the extensions or the other way around)

9 Likes

I think we’ve contributed a lot to the ecosystem through Yoroi work.

EMURGO has written a lot of libraries like

  • Our Rust implementation of Shelley
  • A mobile SDK for Shelley
  • A backend server for light wallets
  • Multiple contributions to IOHK libraries

EMURGO funds were not particularly meant to be used for any of this, but we fund it for the sake of the ecosystem. All the work and everything we do is MIT licensed and open source and anybody is welcome to contribute if they want (many exchanges and other wallets use our libraries and reference our code)

8 Likes

“Yoroi is an awesome light wallet, which I believe is fundamental to Cardano with both the Mobile wallets and Browser extension. Maybe this could be extended to further platforms in the future.”

  1. This is a fact: Obviously, we must have a stellar mobile platform.

“EMURGO do a great job, they certainly made Yoroi a beautiful looking wallet with great features.”

  1. My understanding is Vacuumlabs was contracted to develop Yoroi mobile. Were they involved with the Extension?

“Firstly, this is no fault of EMURGO, they are a small company with finite resource and funds…EMURGO volunteered for Yoroi,”.

  1. “fault” ? As you stated, they, “volunteered”. If the folks at Emurgo aren’t responsible for their choices, then who? Me? You? Anyone holding a few ADA in their pocket? Right now, the “greater-fools” are funding several developments in the top 15. Our resource investments must be far above the mean. In the Shelley lead in, understanding Emurgo’s exposure, and in particular their existential risks was, or should have been, common sense. Their sunk cost in Yoroi was justified only if they predetermined required sustaining (>2019) leverage from the start (by leverage, think much broader than working capital).

Cardano began with a vision, with one decision, which has led to thousands upon thousands of decisions.
Success requires tough choices, and trade-offs must be made. Smart money flows to discerning, focused, and wisdom imbued leadership. We are not going to get there on hopium, and first order reasoning.

My argument is not against Yoroi, it is an awesome product and I use it myself instead of Daedalus.
You’ve done an incredible job with limited resources in record time, that much is clear.

I think you guys should get all the help and funds you need.

However I do have an issue with funds coming from the community, Emurgo should be able to support you guys. Some people have stated that without Goguen Emurgo doesn’t have much to do, to which I reply; well then they should’ve funds available to support a product that is clearly adding value to the entire ecosystem and that product is Yoroi.

That proves my point, if the issue is Goguen not being ready that means that there is no way they could’ve depleted the funds from the ICO and their 2 billion ADA.

I know this is harsh criticism, all I’m asking is why can’t they support Yoroi without outside help?
And if they indeed need the help, then you need to get transparent and let us know how much is being spent on each project etc. Which I don’t think will happen, to me they move in murky waters. And when I say they I mean the guys at the top, not the awesome people doing all the leg work.

  1. Vacuum labs built adalite.io.

  2. EMURGO couldn’t start Yoroi until the shelley work was finalised on the IOHK side, that wasn’t done until the hardfork. Therefore the delay in starting the upgrade is not there fault. There are also only one or two of them working on Yoroi as their budget does not cover the Yoroi project.

Your comment was answered by comments above.

1 Like

“Vacuum labs built adalite.io.”

  1. Vacuumlabs site quote: https://www.vacuumlabs.com/projects/yoroi
    “How did Vacuumlabs and EMURGO work together to build the App Store’s favorite crypto wallet in three months”

“EMURGO couldn’t start Yoroi until the shelley work was finalised”

  1. Indeed, and well understood. However my bluntly restated view is, their development constraint is irrelevant to our decision calculus. It’s not complicated, we simply open projects eg. mobile, to qualified bidders, period. Cardano’s prospective developers must compete for the privilege :wink:, and diligently perform under their contract. This necessarily requires a process which is entirely transparent to the Cardano community.

It isn’t that I don’t sympathize with your sentiment, it’s simply misplaced in my opinion as it’s an a-priori assumption.

No worries, it’s a healthy discussion and about getting the opinion of different people.

Ultimately whether people like Yoroi and whether more resource should go into the maintenance and continued development of the Yoroi wallet.

I take it you don’t feel Yoroi could do with something, to improve its development speed and capacity.

We have more than 2 developers working in Yoroi. Actually we have a team of 5 devs working. Yoroi is not only the frontend. It’s also:

  • Frontend (Desktop):
  • Devops: we need to maintain high availability for a lot of users
  • CDDL Library: We had to implement a serialization library for generating txs for Cardano. This is something that probably almost every wallet out there except for Daedalus is going to use. We even have exchanges using it.
  • Yoroi Backend: where to get the information of the blockchain for a light wallet. We are even sending PRs to the main repos of IOHK.
  • Yoroi Stakepools: integration of a UI for delegation.
  • Yoroi Mobile: iOS and Android
  • Yoroi Mobile Libraries for iOS, Android and React Native.

We have community multiple times what we do.

  • Investments in dLab. We will be helping those companies to support Cardano once Goguen has the required functionalities. We have startups that are working for:
    – Sempo: Remittances and working with Oxfam, Mercycrops, Unicef, Redcross. Actually one of the most used dApps in Ethereum.
    – Honey.comb: Oracles. One of the major partners of data for Chainlink.
    – Credmark: Credit scores in Blockchain
    – Crayonic: 3FA. It offers more security than Ledger.
    – Helix.works: Synthetic DNA for Supply Chain.
    etc

We also have education, general business adoption in Cardano for Supply Chain (PR coming up soon), etc etc.

We are even working in bringing:

– Oracles, Stablecoins and DEXes to Cardano!

If you just follow us in Twitter would know half of this… we are releasing research videos almost every week.

8 Likes

I like this thread of discussions. This is an important part of building the Cardano community. Keeps us all together. Thanks to everyone in the Cardano ecosystem.

He is from Ethereum or EOS

I do not have a single problem when Emurgo get a better payment if they are underpaid. I hav no insides about their financial situation.
I am happy I can contribute by translating the Yoroi app into Dutch language.
I will remain to do so in a way that translations will be carried out within 24 hours of time.
I like to thank them for th good work

2 Likes