What is DELEGATE.CASH?
DELEGATE.CASH was developed by 0xfoobar as an on-chain registry that allows you to prove ownership of a cold wallet and allow a hot wallet to perform token-gated actions on behalf of that cold wallet without exposing the cold wallet to potentially unsecure or malicious websites.
Example: Bored Ape Yacht Club members form a group in Dead Will Rise and you want to join the group. Instead of connecting your wallet with your BAYC to the Dead Will Rise website, you delegate a hot wallet for your BAYC wallet through DELEGATE.CASH, connect the hot wallet to the Dead Will Rise website and mint using your hot wallet. Your Dead Will Rise token is minted to your hot wallet and you will be able to use that wallet for all interactions on the Dead Will Rise website.
Why has Dead Will Rise implemented DELEGATE.CASH?
Groups within Dead Will Rise are token-gated to ownership of the respective community. We want anyone, from any NFT community, to be able to participate in Dead Will Rise without feeling like their tokens are at risk. This promotes good wallet safety practices that should be standard across Web 3.
How do I use it?
- Visit DELEGATE.CASH (recommendation: get link from trusted official source)
- Connect your cold storage wallet to DELEGATE.CASH
- Click the "DELEGATE" option
- Enter the wallet address of the hot wallet that you want to use on behalf of your cold wallet
- Click "Create new delegate"
- Confirm the transaction in your wallet