Exodus Wallet

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The official Exodus logo.

Exodus is an American company the primary product of which is a non-custodial, multi-asset software wallet, which is primarily considered a cryptocurrency wallet.

History

Exodus was founded in 2015 by JP Richardson and Daniel Castagnoli. Richardson, a programmer whose code is widely used by many players in the Bitcoin and cryptocurrency software ecosystem, and who has published over 200 open source libraries, focused initially on the technical and programming side. Their goal was to create a multi-asset software wallet that would “Remove the geek requirement and keep design a priority, to make cryptocurrency easy for everyone.” Castagnoli is the design vision at Exodus, he focused his energy on creating a beautiful, seamless, easy to use interface that gives the user a truly remarkable experience. Before co-founding Exodus, Castagnoli designed experiences for Apple, BMW, Louis Vuitton, Nike, and Disney, among others.

Products

Exodus’ flagship product is a non-custodial, multi-asset software wallet, which is primarily considered a cryptocurrency wallet. It is available across desktop and mobile devices, both iOS and Android. The Exodus crypto wallet allows users to secure and manage their assets with confidence. Wallet users, through our exchange providers, can access one of the deepest lineups of trading pairs in the industry - over 140 cryptocurrencies including Bitcoin, Ethereum, Cardano, Algorand, Solana, Tezos, Ripple, VeChain, Tether USD, Binance Coin, Uniswap, Polkadot, Litecoin, Stellar, Tron, EOS, Cosmo, NEO, Theta, and many others.

Exodus is the maker of the Exodus Wallet, which provides an easy-to-use interface that enables customers to manage their crypto assets on their desktop computers and mobile phones or transfer their assets to physical storage devices such as Trezor for added security.

The Exodus Wallet is non-custodial, meaning that our customers’ private keys are encrypted locally on their own devices and Exodus can never access or take control of our customers’ funds. Exodus derives revenues from API fees that they charge to third parties who develop applications that their customers can access from the Exodus Wallet through an API.

The Exodus desktop platform was first released in December 2015 to address what the founders saw as an underserved market opportunity by allowing customers to access advanced wallet technology on the desktop. Since the creation of the Exodus Wallet, approximately 1.25 million customers have funded wallets across the desktop and mobile platforms.

Operations

Exodus operates as an exclusively remote company, with no physical headquarters. Over 130 staff are employed from more than 25 countries. Daily operations are facilitated via software, including Slack, Asana and Github.

The company prides itself on being democratic and transparent. All full-time staff can view the salaries of all other staff, and the financial situation of the company is likewise visible to all full-time staff, updated weekly. Weekly “all hands” meetings via Zoom bring the staff together and the final third of these meetings is open to questions and chat.

In keeping with the ideology of the company, all salaries are contracted in US Dollars yet are paid in an equivalent amount of Bitcoin, sent directly to the Exodus wallet of each employee.

Ideology

Exodus was founded with the goal of helping to empower people to control their own wealth. The choice of name, Exodus, is a reference to opening up the opportunity for people to exit the traditional, centralized financial system. Their stated mission is “to empower half the world to exit the traditional finance system by 2030.” This does not mean that half the world’s population will be using Exodus software by then, yet rather that Exodus wishes to be part of a global movement to make decentralized finance available to anyone with an internet connection and a smartphone or computer. This desire to facilitate an “exodus” from traditional, centralized finance is resonant also in the term for Exodus’ shares, which are digitally represented by the EXIT Tokens.

Technology

The non-custodial functionality is an ideological and technological key to the Exodus wallet. Each wallet is encrypted locally on the user’s own devices, guaranteeing privacy, security and complete control over their wealth.

Exodus updates both the desktop and mobile software regularly.

Public Offering

Exodus closed its Reg A+ public offering on May 5, 2021. They issued 2,733,229 shares of Class A common stock to 6800 new shareholders, raising $75 million in gross proceeds (the maximum amount qualified in our offering circular).

They selected the Algorand blockchain to issue the EXIT tokens. The EXIT tokens are a digital representation of the Exodus shares. Securitize was the transfer agent and sent the EXIT tokens to the initial bonafide stockholders’ Exodus wallets in July 2021.

The Class A common stock is available for trading on several alternative trading systems (ATS), including the tZERO as of August 2021.

See also

• Cryptocurrency
• Cryptocurrency and security
• Key cryptography
• Bitstamp
• Coinbase
• Ethereum
• Bitcoin
• Algorand
• Mobile payment

References

• Allison, Ian (3 March 2021). "Crypto Wallet Exodus Seeks SEC Permission to Tokenize Shares, Aims for $75M Raise". Yahoo! Finance.
• McMahon, Karl (21 April 2021). "A crypto wallet founder breaks down how he secured $60 million within 5 days from investors wanting to back tokenized shares — and how he almost became a 'Doge millionaire'". Business Insider.
• Zmudzinski, Adrian (9 April 2021). "Exodus Crypto Wallet Tokenized Share Offering Launches Following SEC Approval Under Exemption Rules". MSN.com.

External links

• Official website

This article "Exodus Wallet" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Exodus Wallet. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.

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