FAQ
Who controls the private key for the native assets?
The private keys are controlled by the Network Nervous System (NNS), a decentralized autonomous organization (DAO) on the Internet Computer. These keys are secured using threshold cryptography, meaning they are collectively managed by the network and inaccessible to any individual or entity, including Oisy.
What chains is OISY Wallet currently compatible with?
Bitcoin, Ethereum, Solana, ICP, Binance Smart Chain, Base, Polygon, Arbitrum and many more to come
Can OISY access the private keys of the native assets?
No, Oisy cannot access the private keys. The private keys are held as decentralized threshold keys on the internet computer. Transactions can be signed only by a user authorized by the NNS-controlled Internet Identity via the NNS-controlled Chain Fusion Signer canister.
Read more: What is the Chain Fusion Signer
How are transactions signed for these native assets?
Transactions are signed by a canister smart contract on the Internet Computer, called the Chain Fusion Signer. This ensures secure and decentralized transaction handling without exposing the private keys.
Read more: How Transactions Work
Is the address created specifically for me as an end-user?
Yes, the address is created specifically for you during the setup of your Oisy wallet. The Chain Fusion Signer canister generates this unique address tied to your account.
Reference: Canister Key Management
How does this wallet differ from Trust Wallet or other multichain wallets?
Unlike Trust Wallet and similar wallets, where you own and manage the private keys directly, the Oisy wallet relies on network custody via the Internet Computer’s NNS. This ensures decentralized control and removes the risk of private key exposure, while still providing you full control over your assets through the canister system.
Learn more: T-Signatures and Custody
Do I really have ownership over this wallet?
Yes, you have functional ownership. While the private keys are held securely by the network, your wallet is tied to your identity, and only you can authorize actions through the decentralized infrastructure. This combines ease of use with decentralized security.
Can I send tokens from OISY to another Wallet (i.e. can I send USDC to my phantom wallet)
Yes you can, You just need the recipient address and you can send tokens from OISY Wallet any time you wish
What does OISY Stand for?
Open Internet Services-y (read more here)
Whats the difference between OISY Wallet and Internet Identity
OISY Wallet and Internet Identity serve distinct roles in the ICP ecosystem. Internet Identity is an authentication tool that creates unique wallets for each app, ensuring security but fragmenting assets. OISY Wallet unifies asset management with one wallet across apps, eliminating fragmentation. It offers features like in-wallet swaps, multi-chain support (e.g., Solana tokens like $SOL), and integrations with dApps like KongSwap. While Internet Identity focuses on secure logins, OISY combines security with advanced tools for streamlined, comprehensive DeFi management. Please see ‘How is my principal handled using OISY’ for slightly more context
How is my principal handled using OISY?
When you connect your OISY wallet to any dApp, it uses the same principal ID, which means you access the same funds across all dApps.
However, when you log in to different dApps using the same Internet Identity, each dApp assigns a unique principal ID. So even though you use the same login identity, each dApp, including OISY, recognizes you differently and assigns a separate principal.
What do I do if I have an issue or a problem?
To ensure you are communicating directly with a team member, please email [email protected] or open a support ticket in our Discord. We will soon introduce a support widget on our website, but currently, these are the only verified methods to reach our team.
Do you have a mobile app or Wallet browser?
We do not have these currently, however the wallet is optimised for mobile and will not interfere with prioritized browser extension modals.
How do I partner with OISY?
To discuss a partnership with OISY, please join our Discord, open a support ticket, and select the appropriate context for your inquiry. This is the required step to initiate the partnership process.
Do you have a tester programme?
Yes, we have a tester program where we engage testers to refine features before releases. To join, keep an eye on our Discord and social media channels for announcements about new tester recruitment.
I’m not seeing the complete history of the tokens in my wallet
If certain tokens are missing from your history, it might be because their Ledger and Index Canisters (IC) need to be added. Informing the project to add these canisters can help us ensure you receive the seamless UX you expect from us.
Why is the price/value not showing for a token in the wallet?
Different wallets use different oracles for sourcing price data. We currently rely on CoinGecko, and because some tokens are not listed there or may fluctuate, their prices may not appear either because they are not available or because of volatility
Why is the token logo not showing for a token in the wallet?
Token logos in OISY Wallet are displayed based on the metadata provided by the token’s canister. If the logo is included directly in the metadata, it will appear in your wallet as expected.
However, if the logo is linked via an external URL, OISY won’t display it. This is an intentional choice to protect your privacy and avoid exposing users to third-party resources that could be tracked or changed.
If you’re a project team and want your logo to appear, please ensure it’s embedded directly in the token’s metadata rather than linked externally.
Can I use Multisig on OISY?
Yes, OISY supports multisig functionality in line with ICRC-2 standards. This allows users to pre-approve a specific amount that can be accessed by Dapps without further consent, enabling multiple transactions up to the approved limit.
If you have specific multisig needs that involve all users signing each transaction, please let us know so we can ensure compatibility and provide further assistance.
What is Network Custody?
Network custody is a cutting-edge approach to digital asset security that eliminates the traditional need for direct private key management by users. This method leverages the decentralized architecture of the Internet Computer, enhancing both security and usability.
How does Network Custody compare to traditional methods?
Unlike traditional self-custody, which requires users to safeguard their own private keys, and custodial services that pose risks of centralized control, network custody in OISY simplifies access while distributing security risks.
How is Network Custody implemented in OISY?
OISY utilizes threshold cryptography technology on the Internet Computer to split private keys into shares that are distributed across various nodes. This method ensures that no single node can access the complete key, significantly enhancing security during transactions.
What are the advantages of using Network Custody?
Network custody provides numerous benefits:
Enhanced Security: By decentralizing key storage and using advanced cryptographic techniques, it becomes much harder for unauthorized users to access digital assets.
Simplified Access: Users can authenticate via modern methods like biometrics—no need to remember complex passwords or seed phrases.
Peace of Mind: Users no longer need to worry about losing keys or theft from personal devices.
Cost-Effective: Reduces the need for extensive security infrastructure for businesses, lowering operational costs.
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