Decentralization reached a significant milestone for DeFiChain with the recent transition of its Light Wallet app.
Previously one of the remaining centralized aspects of the network, the Light Wallet on the Apple Store has now been officially handed over to the community, specifically to a dedicated group around the Dex Trading Live (DTL) team.
Why the Light Wallet Matters
The DeFiChain Light Wallet is an essential tool for users to manage digital assets, swap tokens, and actively participate in decentralized finance (DeFi) activities.
By transferring control of this critical infrastructure to the community, DeFiChain takes a decisive step towards achieving its vision of a truly decentralized, self-sustaining protocol.
The transition, meticulously coordinated by DeFiChain Labs, symbolizes collective decision-making at its best.
The decision followed a competitive voting cycle involving three Community Fund Proposal (CFP) submissions. The three proposals came from distinct groups:
- DeFiChain Labs Team
- Independent Community Group
- Dex Trading Live Team (Winning Proposal)
Each proposal shared a common commitment to maintaining and enhancing the wallet’s technical capabilities but varied significantly regarding budget allocations, governance structure, and legal frameworks.
Ultimately, the community decisively selected the DTL team’s proposal, reflecting strong confidence in their transparency, management capabilities, and long-term vision.
What Changes Now?
As of April 16, the DTL team has assumed responsibility for maintaining and updating the Light Wallet.
With this transition, the team received 500,000 DFI intended explicitly to fund ongoing developer expenses, policy compliance, and optimization efforts for app listings.
Transparency remains central to the DTL team’s operational approach, with a commitment to providing the community with quarterly expenditure reports, ensuring accountability and clear insight into fund usage.
For users, the transition should be seamless. The wallet’s functionality remains unchanged, but its future development now reflects collective, rather than unilateral, decision-making. “This is DeFiChain as it was meant to be,” remarked a spokesperson for DeFiChain Labs in a recent tweet. “The community owns its tools.”
