Cardano Developer IOG Launches Lace Wallet, Boosting the ADA Ecosystem

Users can stake ADA tokens directly on Lace to contribute to the security of the Cardano network and earn rewards.

Lace is a web-based wallet comparable to the well-known MetaMask product. It enables users to directly connect to the Cardano network and utilize Cardano-based decentralized applications.

Users can transmit and receive ADA, Cardano non-fungible tokens, and Cardano-native tokens. In addition, they can stake ADA directly from their wallet to contribute to the network’s security and earn rewards for their participation.

With Lace’s new “bundle transaction” feature, users will be able to transmit multiple assets to various addresses in a single transaction for a single transaction fee.

Future releases will include fiat-to-crypto exchanges, a dapp store, in-wallet transfers, and staking enchantments, according to the developers.

Wallet services such as Lace may enable users to readily access decentralized-finance tools and be rewarded for utilizing services on any blockchain, thereby bolstering the token ecosystem for that network by attracting traders in search of opportunities that have waned on other networks.

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