What is MATH? The multi-chain wallet with more under the hood

The MATH ecosystem goes beyond its wallet applications, with parachain and staking options abound

Wallet with various cryptocurrencies falling out of it                                 
Math Wallet comes in custodial and non-custodial flavours – Photo: Shutterstock
                                

Contents

What is the Math Wallet?

Math Wallet is a multi-chain cryptocurrency wallet available through the App Store and Google Play. The ERC20 MATH token is used for staking opportunities, rewards distribution and for paying network fees.

The Singapore-registered enterprise’s senior team comprises chief executive officer and founder Ke Qiao; chief technology officer and co-founder Eric Yu; and chief executive officer of the Math Wallet Foundation Frank Fu. MathWallet secured $19.8m in two funding rounds in November and December of 2020. Lead investors included Binance Lans, Amber Group, and Sam Bankman-Fried’s Alameda Research (Source: Crunchbase).

Math Wallet supports more than 106 public blockchains, including all Ethereum Virtual Machine (EVM)-compatible networks, Substrate parachains, Tendermint networks, Bitcoin, Solana, Filecoin, and just about every other notable network.

It should be noted that the Math Wallet comes in two flavours: an extension wallet and a cloud wallet. The one thing lacking from Math Wallet is a robust set of technical documentation, but an analysis of both suggests that the extension wallet is non-custodial while the cloud wallet is custodial, meaning that the latter retains ownership of your keys. For enhanced security, readers may want to consider the extension wallet.

Math Wallet: Key components

While Math Wallet’s multi-chain wallet is the flagship product, the enterprise’s ecosystem is far broader than that. It consists of:

  • MathChain: MathChain is a parachain built on top of the Polkadot relay chain using Substrate protocols. While not technically a Layer 2 solution, the benefits are the same. Developers building decentralised applications (DApps) on MathChain can take advantage of Polkadot’s consensus layer while benefiting from lower transaction fees and higher throughput.

  • Math dApp store: A comprehensive marketplace for downloading DApps across all major blockchains.

  • MathVault: Math Wallet’s staking platform with compounding options. As well as a MATH mining pool, users can stake Bitcoin, Ether, Tether USD and EOS coins. Cited APR goes up to 9.2% for the MATH pool. All staking rewards are paid out in MATH tokens. Daily rewards are halved every two years. In 2022, 30 million MATH tokens are due to be rewarded.

Screenshot of MATH staking statistics
More than 50% of circulating MATH are being staked – Source: explorer.mathwallet.xyz
  • MathGas: An application for tracking gas fees across major blockchains in real time.

In addition to the above, in August 2021 MathChain partnered with Coinversation Protocol to deploy the DEX Kaco decentralised exchange on MathChain.

Math Wallet previously operated its own MATH Swap DEX, which has subsequently been disabled. A planned MATH Pay point-of-sale solution was also scrapped.

MATH token: By the numbers

MATH has a maximum supply of 200 million tokens, 114,356,164 of which are in circulation. When the MATH coin dropped in October 2019, 60% of supply was committed to the MathVault Farm for the distribution of staking rewards. Initially set at a distribution of 60 million MATH a year, a halving schedule reduced rewards by 50% every two years. Professional investors netted 30% of supply, while the remaining 10% was committed to a public airdrop.

Graph of MATH token’s halving schedule
MATH will be next halved in 2024 – Source: explorer.mathwallet.xyz

While the prolonged MathVault Farm distribution helps to keep inflation in check, MATH also conducts quarterly token buyback and burn events. MATH’s latest token burn was executed on 13 April. The company committed 20% of its Q1 earnings to the burn, which removed 288,615 tokens from circulation.

MATH token obtained a Coinbase listing on 23 June 2022 under the MATH/USD and MATH/USDT trading pairs. The listing prompted a substantial spike in the token’s value. Over one day, MATH rose 232% from $0.147 to $0.491, although a swift reversal followed. MATH is also supported by the Gate.io, FTX and MEXC centralised exchanges, as well as the PancakeSwap decentralised exchange.

The token has an exchange value of $0.173 and a market capitalisation of $19.78m as of 27 June 17:00 BST (UTC +1). If you are looking for more information about what is MATH and its investment potential, head over to our MATH price prediction for the latest price targets.

FAQs

Math Wallet is a multi-chain cryptocurrency wallet available through the App Store and Google Play. Math Wallet is compatible with most major blockchain networks.

MathChain is a parachain built on top of the Polkadot relay chain using Substrate protocols. Developers building decentralised applications (DApps) on MathChain can take advantage of Polkadot’s consensus layer while benefiting from lower transaction fees and higher throughput.

Math Wallet can be downloaded to your smartphone from the App Store and Google Play. A custodial cloud wallet can be accessed via Math Wallet’s official website.

MATH is available on the Coinbase, FTX, Gate.io and MEXC centralised exchange. Liquidity can also be found on the PancakeSwap decentralised exchange.

Readers are advised to read up on the project’s fundamentals and long-term potential before making an investment. This article does not constitute financial advice. It is down to you to do your own research before reaching an investment decision.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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