WalletConnect is an open source protocol and cryptocurrency ‘bridge’ that allows self-custody crypto wallets, such as Savl, to connect with decentralized applications (DApps) in Web3. Crucially, you can use Savl wallet to interact with DApps without having to grant access to your private keys thus maintaining your security at all times.
WalletConnect also gives developers the tools to build secure, interactive, and powerful experiences that users everywhere can enjoy. As a result, there are now c. 20,000 DApps available to connect with and the list is growing daily.
DApps cover many different categories. You can get gaming, DeFi, gambling, exchange, collectibles, marketplace and social-based apps and there are also specific wallet DApp categories such as smart-contract, MPC-based, cloud-based, mobile, desktop, injected, hardware and web-based apps.
To get a sense of the variety and choice, please visit https://explorer.walletconnect.com to find DApps that work for you.
Let’s say you want to buy an official BabyDoge NFT, then you can use your Savl Wallet and WalletConnect to connect with their app which will allow you to use your Ethereum (ETH) to purchase one of their NFTs from within your Savl Wallet.
Or, let's say you have ETH in your Savl Wallet and you want to use a Decentralized Finance (DeFi) application on Ethereum called "ABC Finance". This application allows you to lend your ETH and receive programmatic interest payments in return. WalletConnect establishes a secure connection between your Savl Wallet and ABC Finance, enabling ABC Finance to access the contents of your Ethereum Wallet. From there, you can choose to send ETH from your Savl Wallet to ABC Finance's lending smart contract. Once you have decided on the amount of ETH to send, your Savl Wallet will ask you to approve the request.
The use-cases are literally, endless and span multiple blockchains.
Step 1: Tap the WalletConnect icon from the homescreen (top right).
Step 2: From the DApp website, simply ‘connect’ via WalletConnect and scan the QR code.
Step 3: You’ll be presented with a connection screen. Tap ‘Connect’ to integrate.
Step 1: From Settings, tap ‘Connected DApps’
Step 2: Tap the connection you wish to disconnect.
Step 3: Tap the wallet the DApp is associated with.
Step 4: Tap ‘Disconnect’ and you’re all set.