Overview
Math Wallet is one of the longer-running multi-chain wallets in crypto, supporting 100+ blockchains across mobile, browser extension, web, and hardware wallet platforms. Backed by Binance Labs and Alameda Research (pre-collapse), Math Wallet provides dApp browsing, cross-chain swaps, staking, and portfolio management. The wallet has been operational since 2018, giving it a track record that many competitors lack, but it hasn't achieved the dominance of MetaMask or the developer mindshare of newer wallets.
Smart Contracts
Math Wallet's smart contract involvement is primarily through its swap aggregator (MathSwap) and staking interfaces. The aggregator routes through multiple DEXs. The wallet itself is a frontend that interacts with blockchain smart contracts rather than deploying its own complex protocol logic.
Security
Math Wallet supports hardware wallet integration (its own MathWallet hardware device), multi-sig support, and standard encryption for local key storage. The long operational history without major security incidents is a positive signal. However, the Alameda Research investment connection (pre-FTX collapse) raised some concerns, though this was an investor relationship, not a technical dependency.
Liquidity
MATH token has modest liquidity on Binance and a few other exchanges. Trading volume is low relative to the token's market cap. The token is functional but not actively traded by most users.
Adoption
Moderate adoption with a focus on the Chinese and Asian crypto markets. Math Wallet claims millions of users, though active wallet metrics are harder to verify. The long operational history suggests genuine user retention, but growth has plateaued as the wallet market consolidated around MetaMask and chain-specific wallets.
Tokenomics
MATH token provides governance, fee discounts, and staking rewards. The token has a deflationary burn mechanism tied to wallet revenue. The model is reasonable but the limited wallet revenue and competitive pressure on margins mean the burn rate is modest.
Risk Factors
- Wallet market dominated by MetaMask (EVM) and chain-specific wallets
- Alameda Research investment history creates optics risk
- Limited differentiation against feature-rich competitors like Coin98 and Rabby
- Token value capture from wallet usage is weak across all wallet tokens
Conclusion
Math Wallet is a veteran multi-chain wallet with reasonable adoption and a clean security track record. The 2.7 score reflects consistent utility and longevity against the challenging economics of the wallet market. A solid product that hasn't found the growth catalyst to break through.