Why tokenproof is Needed

Loss Prevention

Scams have a widespread presence in the crypto space. This is especially due to the fact that most individuals with significantly valuable crypto assets hold self-custody of their tokens.

Lately, and especially with the rise of NFT Adoption, scammers have maliciously gained millions of dollars through this activity. The nature of the space often causes difficulty in understanding what someone is agreeing to when connecting and signing messages with wallets. Therefore, individuals are quickly growing hesitant to connect their wallet for simple workflows like proving ownership of tokens to get a role in a discord server. Tokenproof completely eliminates the risk of malicious intent in these workflows; this is exactly why it's needed.

Vault Wallet Protection

Most individuals with significant valuable crypto assets have a "vault" Ethereum account managed by a hardware wallet that interacts with the blockchain as little as possible. Ideally, the hardware wallet would be stored in a secure physical location. However, the need to prove ownership of the tokens in the account forces users to physically use their wallet, and interact electronically, which poses significant risk.

Tokenproof allows individuals to physically store their hardware wallet in a secure location for extended periods of time, while retaining the ability to electronically and verifiably prove ownership of any tokens inside.