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What is Aqua Wallet? – Bitfinex blog


What is Aqua Wallet?

On January 3rd, in celebration of the 15th anniversary of Bitcoin’s Genesis block, JAN3 released a new tool for self-sovereignty, known as Aqua wallet. Aqua democratises finance by offering seamless transactions in Bitcoin, Lightning, and Liquid assets. Let’s take a look!

Aqua is a Next-Generation Multilayer Bitcoin Wallet

On January 3rd, 2024, the aptly named JAN3 Bitcoin startup led by seasoned Bitcoiner Samson Mow, released a new kind of non-custodial multilayer Bitcoin wallet, named Aqua wallet. The date and name JAN3, are in reference to the anniversary of Bitcoin’s first ever mined block, the fabled Genesis block. The Genesis block was mined by Bitcoin creator Satoshi Nakamoto, and famously includes the “Chancellor on brink of second bailout for banks” headline, which was published the same day in The Times of the UK.

Aqua, is a groundbreaking new style of Bitcoin wallet aimed at altering the conventional methods of interacting with Bitcoin, Lightning, and Liquid assets like Tether USDt, the world’s largest and most popular stablecoin. Aqua is designed to provide a different approach to digital asset management, offering users a single platform for various types of transactions and holdings.

Aqua wallet aims to revolutionise the financial landscape by seamlessly integrating the uncharted territories of Bitcoin’s permissionless and decentralised financial network with the structured world of traditional finance and the rapidly accelerating domain of tokenised assets and securities being built on Liquid, Blockstream’s Bitcoin sidechain.

Multilayer wallets like Aqua, could become significantly influential as they offer a versatile platform for users to engage with a multitude of financial layers and assets. They aim to enable interaction with Bitcoin’s base layer, various Bitcoin layer 2 protocols, and a range of digital assets including tokenised securities, digital currencies, stablecoins, utility tokens, and potentially, even things like NFTs. 

They look to facilitate the seamless transfer of liquidity between the crypto-native digital economy and traditional financial systems, catering to a growing demand for a unified solution that bridges the gap between new-age digital finance and established financial infrastructures. This adaptability and convenience positions multilayer wallets as a pivotal technology in the evolving landscape of personal finance and asset management. 

As a consequence, we could see multilayer wallets becoming the tool of choice for traders looking to deploy capital in a range of traditional and non-traditional markets, in a way that provides more freedom and granular control over how they manage their assets.

A Feature Set Leveraging the Symbiosis of Lightning and Liquid

Aqua wallet is designed to cater to both experienced HODLers and newcomers in the cryptocurrency space, offering an easy-to-navigate interface and a suite of functionalities for effective portfolio management. It serves as a comprehensive tool for engaging with Bitcoin, allowing users to store, exchange, and conduct transactions.

Aqua starts by leveraging the synergistic potential of the Lightning Network and the Liquid sidechain to facilitate efficient and trustless cross-chain submarine swaps. This capability is particularly advantageous in the prevailing high on-chain fee environment driven by the surging demand for Bitcoin-based innovations like Ordinals, BRC-20 tokens, and Stamps.

By utilising this interconnected framework, Aqua enables users to open, close, and fund Lightning channels via an integration with Boltz, at a reduced cost. This not only enhances transaction efficiency but also significantly mitigates the impact of the current fee landscape, making Bitcoin’s network more accessible and user-friendly in periods of high demand, where transacting on-chain would be economically inefficient.

Aqua also takes advantage of the Liquid sidechain’s innovative confidential transactions feature to significantly enhance user privacy. In the Liquid Network, confidential transactions allow the amounts and types of assets being transacted to remain hidden, a degree of privacy and security not typically available on the main Bitcoin blockchain. As a result, Aqua users can benefit from the privacy advantages of confidential transactions, ensuring their financial information is protected while they navigate the digital asset space.

Aqua also provides a gateway to a diverse spectrum of financial opportunities, blending the security and freedom of Bitcoin with the versatility and speed of Lightning transactions and Liquid assets. Users are empowered to navigate through a wide array of financial activities, from simple Bitcoin saving and spending to engaging with a variety of Liquid assets, including Tether USDt, all within a single, user-friendly interface.

By integrating USDt, Aqua empowers users to stabilise their assets during turbulent market periods, thereby maintaining purchasing power and mitigating risk. USDt is ubiquitous in the digital asset space, spanning across the Bitcoin ecosystem as well as various blockchains and Web3 platforms.

Additionally, users benefit from transacting in USDt on the Liquid Network, where they can enjoy lower transaction fees compared to other blockchains. This cost-effective feature of Aqua not only enhances the wallet’s utility but also positions it as a practical solution for those seeking stability and affordability in their cryptocurrency dealings. This is a huge advantage in emerging markets where organic stablecoin adoption is a large portion of the overall cryptocurrency market, due to remittances, high inflation, economic restrictions, and remote employment.

The wallet’s non-custodial core ensures users retain complete control over their funds, reinforcing the ethos of self-sovereignty fundamental to the Bitcoin community. At the same time, Aqua provides an accessible bridge to the Liquid Network, where users can explore the world of tokenized securities, stablecoins, and other digital assets with enhanced privacy and rapid settlement times. This unique convergence of the decentralised and traditional finance realms via Aqua paves the way for a more inclusive financial ecosystem, where freedom, control, and opportunity coexist, offering users a comprehensive tool for financial empowerment and innovation.


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