Distributed EOA accounts coming to EVM chains
Intu will release the beta version of its new decentralized protocol at ETHDenver, which takes place from Feb 24. - Mar. 5.
Intu — a decentralized account management protocol for web3 designed to make it more user-friendly — emerged from stealth mode and announced its beta launch during ETHDenver Buidl week on February 24th.
Intu announced on Feb. 20 that it had secured $2 million in pre-seed funding from notable crypto industry players — including CoinFund, Metaweb Ventures, Fantom Foundation, Kitefin, Orrick, and angel investors.
The news comes as the release of Intu’s beta marks an essential milestone in the company’s mission to promote the aims of self-custody and decentralization.
Intu aims to empower users to select the degree of decentralization they prefer within their local circle of trust — a key feature that the founders hope will make the beta appealing to decentralized application (dApp) developers.
Founded to provide crypto wallet solutions that give developers the tools to create decentralized, recoverable, and self-sovereign web3 accounts, the platform uses what is known as a distributed externally owned accounts (dEOA) account.
These combine the principles of self-sovereignty with the security of an EOA with the composability of smart contract wallets.
The platform allows users to access a software development kit (SDK) — a well-designed and elegant UX for onboarding web3 dApps or wallets. Developers can deploy various onboarding experiences or services to any web3 dApp or wallet through their easy-to-use SDK.
“Now more than ever, it’s clear how important good self-custodial solutions are needed,” said Max Radelius, Co-Founder of Intu. “Our goal is to provide solutions that give non-coiners the confidence to participate in web3 and a clear path to financial freedom.”
Intu’s beta version will be available to test at ETHDenver — set to take place from Feb. 24 – Mar. 5, where a working model of the EVM-compatible chain will be available.