Lamden Wallet Basics
Moving to a new blockchain is hard, new terminology, new wallet. Don’t worry I will give you a brief run down to get you started.
Haven’t downloaded the wallet yet? here is the link
Hate reading? There are some videos which may cover it on youtube.
The Lamden wallet functions similar to other wallets you may have encountered (as of Version 1.8.0)— you can have 1 account or multiple accounts in a single wallet, and those accounts can connect to a single dApp or multiple dApps. Lamden wallet has the flexibility to build a wallet the way you want.
Basic Wallet layout
A traditional wallet format is one that has a single account with all dApps authorized to use that account (think Metamask). It would be visualised similar to below:
As of Version 1.8.0 of the Lamden Wallet, this layout is possible.
Another option for more security-conscious users is a multi-account wallet. This is designed to compartmentalize your funds to protect you from potential bad actors (bad dApps)— not saying that will happen but an interesting security feature for people willing to sacrifice a little ease of use for more security. The dApp can only interact with the particular account and the funds within that account it is authorized to use.
A visual reference below:
Why is this important? Well if you have Lamden TAU in your LamdenLink account it can’t be used by Rocketswap unless you transfer it to your Rocketswap account. Similarly, if a bad dApp only has access to a particular account, then it can’t reach funds in another account in your wallet.
In this style of wallet you will potentially need to keep some TAU spare in each wallet or transfer TAU as needed for stamps etc.
Got an error pop-up and are not sure what it means, check this guide for common issues which you may encounter.
For basic navigation, the wallet is fairly logical. Some interesting pieces in the image above:
- Menu options on the left hand side can be mostly ignored (for this basic tutorial but will be covered in the advanced tutorial). The only exception is the Backup Wallet and Dapp Connections options talked about later
- Current Network top right should be “Lamden Mainnet”, the only other option is “Testnet” so unless you are testing something, stick to Mainnet
- The preferred way to copy an account number is via the click button to the far right of each account. This ensures it is copied correctly
- Lamden uses “stamps” to calculate transaction costs, stamps are equivalent to “gas” on the Ethereum blockchain
- Currently 65 stamps = 1 TAU and the Lamden blockchain will handle the conversion for you
- When performing transactions that specify a stamp amount, Lamden only uses what it needs. So if you set the stamp limit to 325 (default), on a normal transfer it will only use 17 stamps
Lamden uses FIFO — First In First Out system for transactions, everyone pays the same low price and if you were first, you are the first to be processed. No more skipping the queue — fair for everyone! Thanks Lamden.
Backups are extremely important. Backups are extremely important. ***Backups are extremely important!!!***.
If you take nothing else away from this, please make sure you have a backup AND it is up-to-date. When you open your wallet and the menu wording Backup Wallet is highlighted (like in the top image), it means a new account or change has occurred and you need to backup your wallet immediately. Click Backup Wallet and follow the simple instructions.
As of Version 1.8.0 of the wallet, multiple dApps can connect to a single account. This means you have the ultimate flexibility to design your wallet the way you want it to function. On the left-hand menu is Dapp Connections which allows you to assign, and reassign dApp connections to the wallets you want.
From the dApp Connections options, simply click Change Account to modify the behaviour and/or account connected with this application.
There is a good chance you will need to transfer some tokens around or across to some other dApp account you have; the process is very easy, proceed as follows:
1A. If sending to a friend, get the account number from them. If sending to one of your own accounts — click the account address on the right to copy it. So this is the destination(TO) where we want to send.
1B. To initiate a transfer, click the account name with your funds you would like send. This is the source(FROM) of funds
1C. On the next screen select SEND TX.
3. On the Make a Lamden Transaction pop-up:
3A. Check your account (this will default to what you clicked)
3B. Check stamp limit (default is already populated-Lamden only uses what it needs so leave this as default)
3C. Enter Contract Name — if transferring TAU, it should be “currency”. Other tokens use different contract names so check TAUHQ or ask in telegram. Next, Choose Function to Run — Transfer is the option we need
3D. Set the amount to the figure you would like to transfer (you will need a small amount remaining for stamps
3E. In the TO field, paste in the address you copied from the last screen
3F. REVIEW YOUR TRANSACTION DETAILS!
3G. Click NEXT
4. On the next screen, click Confirm Transaction, you should then receive a pop-up notification that the transaction was successful and the transmission cost in stamps. Select Home.
You just completed your first transfer.