Omni (Formerly Steakwallet)

Omni, formerly known as Steakwallet, operates as a non-custodial Web3 wallet, positioning itself as a comprehensive application for the decentralized finance (DeFi) ecosystem. Founded in 2021 by Serafin Lion Engel, Alex Harley, and James Stackhouse, the New York-based company aims to simplify user access to Web3 technologies. The founding team possesses relevant industry experience; CEO Serafin Lion Engel began building on Ethereum in 2014 and previously founded DataWallet, while CTO Alex Harley also served as a software engineer at DataWallet. This background in data and blockchain technology underpins the company's focus on creating a user-friendly yet secure crypto management tool.

The company's primary product is a mobile application that functions as a multi-chain crypto wallet. It supports over 25 blockchains, allowing users to manage a diverse portfolio of over 10,000 tokens and NFTs from various networks like Ethereum, Solana, and Polygon in a single interface. A key feature is its integrated 'Earn' section, which facilitates staking, liquid staking, and depositing funds into yield vaults with a simplified three-tap process, powered by its proprietary Smart Delegation Protocol. This addresses individual crypto investors seeking to generate returns on their assets without deep technical expertise. The business model appears to be centered on transaction fees from in-app swaps, bridging between chains, and potential partnerships with DeFi protocols. Omni emphasizes self-sovereignty, meaning users retain full control over their private keys. For enhanced security, the wallet integrates with hardware wallets like Ledger and employs biometric authentication.

A significant milestone was the rebranding from Steakwallet to Omni, which preceded a September 2022 announcement of an $11 million seed funding round at a $50 million valuation. This funding, raised in May 2022, was secured from investors including Spartan Group, GSR Ventures, and Eden Block. The capital was earmarked for expanding services and integrating additional technologies, with plans to support Layer 2 networks like zkSync and Starknet. The wallet also includes features like in-app news feeds and the ability to import existing wallets from platforms such as MetaMask and Phantom, catering to both novice and experienced crypto users.

Keywords: crypto wallet, web3, decentralized finance, DeFi, non-custodial wallet, multi-chain wallet, crypto staking, liquid staking, yield farming, NFT management, Serafin Lion Engel, Alex Harley, James Stackhouse, self-custody, crypto asset management, mobile crypto app, blockchain, Ethereum, Solana, Polygon, Ledger support, Smart Delegation Protocol