LOBSTR Stellar Wallet

Project title:
LOBSTR wallet - https://lobstr.co

Summary:
LOBSTR - simple and secure Stellar wallet available on the web, Android and iOS.

Goals:

  • Withdraw/deposit tethered Stellar assets for all anchors that implement SEP-0006 (See more on that below under the “Anything else” section)
  • New validators for Stellar network
  • Access to LOBSTR inflation pool for all Stellar ecosystem developers (See more on that below under the “Anything else” section)
  • Buy crypto with credit cards
  • New “Send” flow for mobile apps (ability to send Stellar assets to email address or phone number)
  • Referral program (See more on that below under the “Anything else” section)
  • Improvements for trading interface
  • Knowledge base updates (new articles and video tutorials)
  • More multisig improvements (N of M multisig support and other updates)
  • Support for transaction signing requests through SEP-0007 from other apps and URI schemes support
  • Contacts section revamp. Similar look and feel to phone book contacts. Enhanced search, address book export, sharing contacts
  • Price alerts (stay on top of any Stellar asset price 24/7 with PUSH notifications)
  • Enable 2FA directly from mobile apps (currently 2FA setup is available on the web only)
  • Multiple upgrades for federated address management
  • Local key storage mode
  • New asset page (rich description for every asset including stats, market cap, charts, SDEX price, etc). Better support for restricted assets and KYC (auth_required, auth_revocable parameters)
  • Ledger Nano X support (via Bluetooth)

Description:
Check out the video we prepared for you to find out more about LOBSTR wallet and its features:
https://www.youtube.com/watch?v=rHQgXYhgKsU

Links:
Web: https://lobstr.co/
Android: https://play.google.com/store/apps/details?id=com.lobstr.client
iOS: https://itunes.apple.com/us/app/lobstr-stellar-wallet/id1404357892?mt=8

Anything else (additional information):

Access to LOBSTR inflation pool for Stellar ecosystem developers

LOBSTR will help other projects building on Stellar to benefit from inflation of Stellar network.

The Stellar network has a built-in inflation mechanism which distributes new lumens (1% each year) and transaction fees among the accounts which receive the “votes” from users.

This may serve several purposes. In particular, it allows people to collaborate and vote for certain ecosystem projects, supporting them with the inflation rewards.

However, in order to receive inflation, each account first needs to solve a difficult challenge and get above the minimum votes threshold, which is over 50M. This means that a total balance of wallets voting for the account should be over 50M lumens.

Once this threshold is reached a project can start receiving inflation benefits, which may help fund development and fuel further growth. Several projects in the Stellar ecosystem have made attempts to collect their own collect inflation, but at this point this is a very challenging task, since majority of lumens are not yet distributed, which makes the threshold even more difficult.

So, supporting a smaller project through inflation mechanism was not really a feasible option.

LOBSTR (thanks to over 100,000 voting users) was able to overcome the inflation threshold and started receiving inflation payouts. This now helps us fund the development and continue innovating.

Next, we want to help other projects benefit from inflation as well by opening our inflation pool for other projects.

We are building a tool that will allow any project building on Stellar ecosystem (wallet, SDK, exchange, etc) to direct the user votes to our inflation pool (users will need to sign a single simple transaction), and immediately receive their share of inflation payouts. You can think of this like Lumenaut pool, but for companies building on Stellar. As an example, 3M votes will generate a monthly revenue of 2500 XLM, which depending on the XLM price may help pay the hosting bills, pay part-time contractors or even provide a support needed to focus on the project full-time.

Technically, all the accounts will share the same inflation destination, and the routing will happen through home domain or account data entries - so the shares count will be transparent.
We will be refunding 100% of the payouts for the open-source projects, and taking a small fee from others.

Full details about the service will be announced in June, once we launch the tools.
Please let us know if you’d like to get the early access - we are looking for several projects that would be interested to start in a week or two.

Referral program

We are working on a referral program for LOBSTR, where a user can invite 3 new users (friends, family) and get a bonus for invitation.

Invite friends by sending them a few lumens by email or phone number.
We have designed a great onboarding experience for new users that will make it easy for new users to get started with Stellar.

We already have the back-end to do it right now.
All you need to do is send payment lumens or any other Stellar asset to any email like john.doe@mail.com*lobstr.co or any phone number like +11234567890*lobstr.co to trigger the onboarding email or SMS from LOBSTR, which will give new user ability to claim the assets.

We are still designing the rules and rewards, but there’ll be a manual validation to ensure fair participation.

SEP-0006 Withdraw/Deposit support

LOBSTR will provide withdraw and deposit options for Stellar anchors that support it.
This will be based on SEP-0006 protocol and will be live in a few weeks.

It will be possible to exchange several crypto or fiat assets with its Stellar anchors equivalents right from your wallet.

Let's say you have a Bitcoin that you want to deposit to LOBSTR.
Just add any BTC-tethered Stellar asset in LOBSTR, click "Deposit" on the asset page and follow the instructions. When you'll send BTC to anchor account on Bitcoin blockchain, you'll receive BTC asset issued on Stellar in your LOBSTR wallet.

That will work for tethered fiat currencies as well.
Send your USD or EUR to anchor (through bank transfer or card payment) and you’ll receive the same amount of Stellar tokens to your LOBSTR account.
Withdraw fiat Stellar assets directly to your bank account or credit card in a few clicks.

Some anchors may choose to request a KYC verification process, which you’ll be able to complete directly from LOBSTR. This needs to be done once (if anchor requires KYC), and afterwards you’ll be able to seamlessly exchange tethered assets.

List of Stellar anchors where withdraw/deposit will be available:

  • apay.io (BCH, BTC, LTC, ETH and a few other ERC20 tokens);
  • stellarport.io (BTC, ETC, XRP, LTC);
  • fchain.io (BTC);
  • anchorusd.com (USD);
  • tempo.eu.com (EUR).

The only way your pool makes any sense is if you talk to @stellardevpool

Otherwise it will have the same issues that inflation funding has now, that each account only can direct their inflation at one destination.

Also, I'm pretty sure you signed me up for your pool without asking me, on one of my accounts.

@dzham Johan, I believe the main issue right now with the inflation is the threshold.

While I find @stellardevpool idea interesting, I'm not sure that many people would actually care enough to go the extra mile and configure their accounts and split their inflation to support multiple projects.
But let's see how it plays out. Obviously, would be cool to see their idea going live and supporting other projects.

However, in their proposal I don't see any info on how they plan to collect enough votes to start generating inflation - and this the most difficult part of their plan. It will probably take at least several months or may never actually happen if they plan to do this on their own (without collaborating with existing pools).

Many projects have tried to collect inflation and majority has failed - this is the point which 90%+ of all initiatives related to inflation never reach. We want to change that.

And it could be useful to projects like your Stargazer wallet - to directly benefit from inflation.

Finally, our initiative might help @stellardevpool to implement their plan, as they won't need to worry about the threshold (again, this is the most tricky part, imo) - they could receive their share directly from us and then distribute between multiple projects according to user votes.

    gleb

    Threshold is definitely an issue, so being able to sub-pool with the StellarTerm pool is a great benefit.

    But getting back to the actual voting, I mean, either 1) people go to stellardevpool and split their votes, or 2) they have to manually create new accounts just to be able to split their voting between multiple apps. Or they just keep voting for a pool where they get the proceeds themselves, as this is a lot simpler.

    Worst case scenario is apps requiring inflation voting, since this forces #2. That's why I think sub-pooling with stellardevpool is a winner.

      I'd be very happy to see more people consciously choosing to support ecosystem projects with inflation payouts with a tool like @stellardevpool proposes. That'd be quite cool.

      Oh, and to address this point:

      Also, I'm pretty sure you signed me up for your pool without asking me, on one of my accounts.

      We've never changed the inflation destination if a user was voting for a paying pool like Lumenaut.
      In other cases, we might - and this is now even mentioned in our terms of service.

      And if you haven't looked at LOBSTR for a while - check out the latest versions, it's a very different app than it was even a year ago.

        gleb

        I'm really happy we're talking about putting inflation to good use, which to me is funding valuable Stellar projects. I know recently there were discussions to remove inflation completely and I'm not sure where the SDF currently stands. But I think if applied properly, inflation could be a unique Stellar feature that enables sustainable gassroots funding for the development of community projects.

        Of course we'll be happy to work with anyone that is interested. Because stellardevpool voting is recorded as a Stellar transaction, apps like Lobstr that have delegated access to user's private key could still be a part of the pool and vote for themselves on behalf of the user (with their permission). So any apps currently benefiting from inflation would be minimally impacted if they joined the devpool.

          @stellardevpool Not sure if we are on the same page.

          I wanted to highlight, that for your pool to receive first inflation payout and to start paying other projects, your inflation destination should first receive about 53M lumens of votes. Until that happens, you will not receive anything from inflation and hence won't be able to distribute anything to the projects.

          You haven't mentioned how you plan to achieve the threshold in your proposal - it would be interesting to hear your thoughts on that.

          For sure, if you plan to go the full path from 0 to 53,000,000 XLM - you'll need a really strong community support and coordination.

          Alternatively, you might want to consider the option of getting access to our pool (as proposed above) and getting your share of payouts right from the start, without worrying of reaching the threshold.

          Let us know here or in keybase if you're interested.

          12 days later

          Today we’ve finalised our major update for mobile LOBSTR apps - new Send Flow.
          You should receive your new app versions in a few days (v.4.1.0).

          Let’s start with a simple question: “how do we send our lumens to each other?”.
          Today we share public or federated addresses or scan QR codes. That’s standard of course, but to achieve the idea of “Sending money like email” we could use something more convenient and simple to transfer money daily.

          The easiest way to contact anyone today is to use messengers, emails or phone calls. Keybase and Stellar did a great job to make our life easier - integrated Stellar into messenger.
          LOBSTR team decided to focus on other options and added ability to send lumens to email address or to any phone number!

          That gives users two great benefits:

          1. You can send crypto to people who never had any Stellar wallet at all. That might be the easiest way for them to jump into Stellar and crypto.
          2. You don’t need to ask the recipient's address anymore, just select a contact from your address book and send your lumens, that’s it. LOBSTR will care about other things 😉

          After sending assets to email address or phone number recipient will receive an email/sms with the information of how to claim his crypto. Basically, he just needs to create an account in LOBSTR with associated email address or phone number.
          If the recipient already has LOBSTR account - he will be able to claim money from the wallet home page in one click.

          New Send functionality is available on the web app already, you can try it right now.
          More updates coming soon, stay tuned, friends!

          LOBSTR New Send Flow

          We have recently launched 3 new full validators for Stellar network.

          Now LOBSTR runs a total of 5 full validators meaning that LOBSTR is the organization with the most full validator nodes on the Stellar network.

          These nodes are spread between multiple hosting providers and different continents (2 in Europe, 1 in Asia, 1 in Australia and 1 in US).

          This allow us to get increased levels of fault tolerance, so entities including LOBSTR in their quorum set, can get additional confidence of our uptime, as even 2 nodes going down will not affect the liveness of LOBSTR sub-quorum (in a 3 out of 5 quorum set).

          You can find all the details on our nodes on stellarbeat.io (search for LOBSTR).

            gleb LOBSTR is the organization with the most validator nodes on the Stellar network.

            IBM is running nine.

            Apart from that, good work!

            • gleb replied to this.

                dzham Yeah, I was going to say to "most full validator" nodes, as 6 of IBM nodes are not full validators at the moment.

                But thanks for pointing that out, I've now edited the comment above.

                  5 days later

                  New update of LOBSTR mobile apps -introducing price alerts!

                  Your LOBSTR app can now send you price alerts for any Stellar based asset that you own.
                  It’s easy: choose asset, create alert and get a notification once the price breaks the threshold you selected.

                  Check out the video below:
                  https://youtu.be/nChImjDm4wg

                  iOS v. 4.1.0 released as well! Should be available in a few hours.

                  • New Send Flow
                  • Updated contacts section
                  • Multiple settings updates
                  • UI improvements of Home and Trade sections

                  Thanks.
                  We ain't stopping, next big things in the pipeline are:

                  • deposit/withdraw for many anchors on Stellar network (SEP-6)
                  • delegated transaction signing through web+stellar links (SEP-7)

                  I love this wallet. Amazing interface on Android and the web (haven't seen it on iOS personally), the ability to accept/trade custom assets, federated address and yet you can still get your private key. Except for Papayabot (which runs on Telegram and therefore has a built in communications system, tipping, etc.) this is the best mobile wallet for Stellar assets IMO. (Also IMO, the turquoise-ish color looks like dolphin vomit.)

                    Brandon Thanks for your kind feedback. We're happy to hear you're enjoying LOBSTR.
                    Did you had chance to try our new features? (New Send Flow and Price alerts for assets)
                    Tell us what you think.

                    Also, "turquoise-ish color looks like dolphin vomit" - that's the funniest review of our color scheme. We'll pass it to our designers 🤣 🤣 🤣

                      I meant it in jest of course but honestly, I think a darker hue would be much better looking.

                      There are blue lobsters, but they are not that color: https://duckduckgo.com/?q=blue+lobster&t=ffsb&atb=v68-1&ia=images&iax=images

                      So let's do the Pepsi Challenge on this. The one on the left or the one on the right? (see link - not sure why my markdown isn't working on this screenshot)

                      https://www.dropbox.com/s/vf8xs5iv3j3rtjy/LobsrtInterfaceError.jpg

                      BTW the total account balance in this screenshot is incorrect. I do not have $1.8M. This error showed up a few days ago, which is why I took this screenshot. I thought it was funny and I was going to send something to support but it has since been corrected and now reflects the correct balance.

                      PS: Anyone know why this markdown isn't working??? exact same code was used for photo of blue lobster above but when I paste in this URL it doesn't work. Also tried ImgBB and Photobox, nothing worked.
                      ![](https://www.dropbox.com/s/vf8xs5iv3j3rtjy/LobsrtInterfaceError.jpg "")

                      Markdown used for blue lobster image above: ![](https://i.dailymail.co.uk/i/pix/2011/11/16/article-2062179-0ED1ECB800000578-793_634x391.jpg "")

                      BTW the total account balance in this screenshot is incorrect. I do not have $1.8M. This error showed up a few days ago, which is why I took this screenshot. I thought it was funny and I was going to send something to support but it has since been corrected and now reflects the correct balance.

                      Yeah, we've refactored some of the logic which calculates fiat balances recently, and a bug sneaked in 4.2.1, affecting some of our users.
                      We rolled out a fix few days later with 4.2.2 but many people have noticed and kept our support busy 🙂

                      Here's your mockup embedded (I re-uploaded the image to imgur.com):

                      The blue version looks interesting, I agree.
                      Let's see if anyone will jump in and tell us which they prefer 🙂

                      But to defend our color choice. The "turquoise" is rather unique, it stands out from the blue which is used by many apps. And lobsters sometimes choose really interesting colors.

                      PS: your markdown did not work since Dropbox returns the whole HTML page instead of image file, even if the URL ends with .jpg, which can be rather annoying.