Hi there guys, Gianmarco here, one of the two founders & CTO of Elysium. I'm here to answer some of your questions as I see there are many, especially from the technical perspective.

I'm honestly new to this forum so if I don't answer or select a specific question, please forgive me, I'm learning

So I'll address the most important questions and answer them straight away:

Question:
Answer: Generally speaking, the Elysium wallet is a fully non-custodial wallet with a new proprietary algorithm for user onboarding. We have developed a Multi-Factor Authentication (MFA) system that is fully keyless, so the key is never stored on the device but always recreated on demand when the user needs to sign a transaction. Of course, we also support account recovery. Currently, this process requires the Elysium server to be online, but by the end of the year, we will release a new version where users can still restore their accounts even if our infrastructure is down.

Question:
Answer: The wallet is not open source yet. We're currently working on IP protection but we intend to release more information in the future without compromising the IP. As mentioned, the algorithm is proprietary and we plan to patent it as it can be used not only in the Bitcoin industry but also as a general authentication method (in the future). We'll present more details in the coming months. There will be also a desktop version but later next year, for now we are releasing just the mobile version.

Question:
Answer: The algorithm we've prepared is compatible with BIP39 and the derivation path is "m/84'/...", which is BIP84 HD SegWit (BIP 84 Bech32 – Native) to save on fees and keep up with the times and innovations in this world. We'll integrate other BIPs in the future, but for now it's based on this BIP. At the moment, there isn't a GitHub from which to download the app, but that will also be done in the future when the technology is protected and stable.

Question:
Answer: The current supported countries are: Germany, France, Austria, Czech Republic, Netherlands, Spain, Denmark, Ireland, Hungary, Malta, Cyprus, Estonia, Greece, Belgium, Finland, Latvia, Liechtenstein, Poland, Luxembourg, Croatia, Slovakia, Slovenia, Sweden, Italy, Bulgaria, Romania, Switzerland
We are about to release it worldwide in the coming weeks. The next countries will be:
India, Brazil, El Salvador, Argentina, Ukraine, Serbia, United Arab Emirates (UAE), Albania

Question:
Answer: Thank you for the feedback. The problems we are facing on the app being available worldwide are because our provider for the exchange is not available worldwide and we are about to release it soon. The app as non-custodial could be available worldwide, while for the services inside we need to follow regulations worldwide.

Question:
Answer: Thank you very much for the feedback, it's very important to us. As written before, the countries where it's available for now are limited but will be expanded in the future.

Question:
Answer: The service is fully non-custodial as explained in the previous answers. Moreover, while its UX is similar to an exchange, it is completely non-custodial. I'm not sure which service you're referring to, but our operation is the same as other non-custodial wallets, just with a new algorithm and better security and UX.

Question:
Answer: We will introduce advanced features in the future such as connections with personal nodes, different ways of deriving accounts, multisig and much more. For now, we want to simplify access to this technology for newcomers but also for experienced people who want to have more security in managing their funds thanks to the new technology we are developing.


Hope this answers give you a better understanding of the wallet and the technology itself!

If you have further questions or feedback feel free to comment or send me a DM on X (formerly Twitter) here: @gianguazz

Cheers

The regional restriction for non-custodial wallets seems pointless.
Some users managed to download the wallet using a VPN. How will you prevent such cases in the future to remain 'compatible' with the exchange provider?
Will the use of the Elysium wallet be subject to passing KYC?

Really you mean is not avaliable to Nigeria Google store users, I want to try to download the wallet to check and see what is happening over there, but seeing your comment right make me discourage to try it out, I hope may be this is as a result of your connections or OS but then let me try to download from apple store to see if I will get the same message and if anything different, I will update the thread so that the team can do something about it.

Update just tried to download on my android device and it says not available, team please do something about this restriction if not you may be locking out a huge number of your clients.

Suppose you downloaded the wallet, does it allow you to sync the blockchain without a VPN? Or does it require a VPN connection to update the balance?

What is the final roadmap? Will the service be a KYC wallet or will the wallet be available and there is another app to perform the exchange? Or just an exchange app.

Developing the wallet requires that you try to reach more users, that there is an exchange service within the wallet application and then you can request KYC for those who want to complete the exchange service unless you want to be the first wallet that wants to request KYC from users.

Proprietary algorithm? No wonder the explanation sounds vague. Anyway, i'll briefly read/check the upcoming recovery feature without requiring your infrastructure.


I see. Although in my opinion, you could've just limit the exchange feature to specific user (by IP or country) since you already advertise your wallet globally.

They will expand to other regions as well, but it will largely depend on the third partner who will provide the trading service and probably the exchange partner will require geo-restrictions even with KYC.
Honestly, the idea of ​​a wallet with mandatory KYC does not seem attractive to me, it is quite a threat to privacy.

It's unfortunate that they stopped but they got good returns of around $420 so it's strange that they decided to stop especially since signature campaigns require continuity. Let's hope planB leads to better development.

The fact that Lighthining Network has been introduced is really nice, this is a feature that I have always appreciated in the various wallets, namely the fact of being able to use this technology for small payments
well done elysium team
the graphics are also very pleasant

Yes, it's true, one thing I noticed is that it's really easy to use and in such a simple way you can manage your money and move it easily. I have to say that the work done by these guys is truly admirable, considering that it's a young app I'd say that will give us a lot of satisfaction, are there other features planned for the future?

I recently download the apps, haven't play around it though, but the design is slick, and then you login with your username and then restore it with your passkey. And they have this security about fingerprint your verify and then another security question with your passcode that you have set when you created your wallet.

And if you are not satisfied with their product, you can request for a account deletion.

Hopefully though, they could expand their signature campaign a little longer or accept more participants so that they can get more exposure here in our community.