Dopamine is a new wallet that has recently launched, sporting over 1 million downloads prior to the distribution of the DOPE token. The mobile wallet and app aims to marry DeFi and self custody, as well as market related applications. Crypto users who missed out on the SafePal airdrop may well be attracted to Dopamine, as there is also an airdrop scheduled. The distribution of the DOPE token is calculated by the number of points earned by users. These points are currently earned via the referral program, which is most likely the catalyst behind the million plus downloads.
However, let’s take a look at what this wallet has to offer and if it is really worth having on your phone. There are a number of great options out there, such as SafePal and Trust Wallet, so Dopamine really needs to prove itself!
Some Of The Key Features Of Dopamine
Looking at the interface of the Dopamine wallet, it is fairly slick and inviting but at the same time lacks a certain something. It is most likely due to it being more of a DeFi focused wallet, rather than a multi-coin wallet. There are non-custodial wallets for Bitcoin, Ethereum and others. There is a built-in DEX, swap engine, which keeps your trades in-house. This is always a great addition to any mobile wallet.
Staking and farming are available from within the app! This could prove to be beneficial but not necessarily essential, as farming is already a process initiated and controlled via a non-custodial wallet of some kind. Price data, metrics and charts are also available in-house, allowing you to conduct research from within the app. The Dopamine wallet/app does seem to have a few attractive features. However, we still need to see these services fully utilized by Crypto users and the community in general. Below are some of the additional services that have been incorporated into the app.
There are a few resources here that I personally utilize on a daily basis, so I guess it is fairly handy to have them all in one place. My initial take on Dopamine is an all or nothing outcome. It either takes off, or it just floats along with a moderate amount of users. I guess time will tell.
I have not personally used the wallet but have spent some time exploring the product. So, from a user experience point of view, I am unable to comment at this stage. When it comes to DeFi, the wallet currently supports Fusion, BSC, ETH, SOL, ALGO, ADA and Huobi.
There are apparently more to be added in time, so we will have to wait and see what the project delivers. I think that this is my general viewpoint of this product, I want to see how it delivers and how Crypto users take to it.
The Use Case For The DOPE Token
There are a number of incentives and motivations for users to hold and acquire DOPE. As with other “exchange type” tokens, fee reduction is one of the main use cases, as well as access to otherwise hidden perks. DOPE will also be used for staking, farming and referral rewards. Community governance and airdrops will also be additional use cases for DOPE as the project matures and develops.
Does It Qualify To Be On Your Device?
Well, the fact that referring friends and family will ultimately earn you DOPE is a fair encouragement. You have to also ask yourself whether being able to farm from within your wallet is something that you find attractive. Furthermore, having important resources in one app might also be something that is quite handy to you. For now, I have it downloaded and will most likely give it a test-drive soon.