Argent is an Ethereum wallet provider which seeks to be a differentiated solution in the Ethereum ecosystem. The project states that it is a “radically better crypto wallet”. One should feel that the Argento wallet is “safer and simpler”, putting the user in control.
The wallet provider may make life simpler for users by requiring no paper backups, free transactions and simple addresses.
Argent has expanded the functionalities of its Argent wallet by including a MakerDAO platform. This provides users with the ability to access MakerDAO and DAI loans right from the Argent wallet.
The Argent and MakerDAO Connection
The Argent and MakerDAO connection is an important one as it indicates the real possibilities present within the Argent application. Further, the fact that Argent is smart contract capable makes it to where it may be a powerful wallet solution for potential DeFi applications, ensuring safety, implementing contracts and increasing utility in the Ethereum ecosystem.
The integration of MakerDAO into the platform allows Argent to lay down the foundations for decentralized finance and collateralized credit via MakerDAO.
The CEO of project stated, “We are more like a decentralized bank account and that was really the starting point."
Argent and Maker CDP Simplicity
What is one of the major problems within crypto today?
Difficulty of use.
Many of these platforms within the DeFi and the general crypto sector in general has more friction than a normal application. Using an app like Robinhood may be simpler than opening up and making your first trade on Coinbase (one of the most user-friendly products in the regulated crypto sector).
The first priority is supposed to be decentralization and security, with the second one being the user experience.
Applications like Argent are working on making DeFi use easier by including the fundamental aspects of decentralization and programmability in a simpler way. While Coinbase has rolled out the Coinbase Wallet and has incentivized users to open up a CDP through Coinbase Earn, more applications like Argent stepping in provides more exposure.
One of the best things about opening up a CDP through Argent is the fact that they eliminate friction. When opening up a CDP with Argent, users don’t stress over conducting collateral calculations, its done for them.
The next component is the conversion aspect.
Users don't have to worry about transferring MKR or DAI to pay the stability fee, simply use their existing ETH to close out the CDP. Don't worry about gas fees either, that's taken care of with meta-transactions.
Unfortunately, Argent is focused on iOS and will deploy for Android in the future.
More features are expected to arrive shortly according to the Argento team.