Introducing Valet

Valet is an Android Bitcoin and Lightning wallet with special features. Along with full onchain support and normal lightning channels it allows to open special Fiat (hosted) channels implemented via special protocol. At the top level they have pretty similar properties to eCash and ensure spending privacy while being custodial. Fiat channels are supposed to ensure constant value in fiat currencies. Wallet has USD, EUR and some others like Deutsche Mark -- just for fun. Currencies other than USD and EUR are in fact pegged to them which makes perfect sense for DM.

Initial versions were known under Standard Sats SBW name.

Why we decided to rebrand

First of all, we weren't really happy with Simple Bitcoin Wallet logo. We couldn't really spend much time thinking about what logo and catchy name we want to choose for our main user application. This is why we have "forked" Simple Bitcoin Wallet logo too and changed colors.

At some point we realized that Anton Kumaigorodsky isn't happy about this state of things too. So we decided to change wallet name and logo.

New name and logo

We were surprised that nobody picked "Valet" as a name for Bitcoin or altcoin wallet. We liked it instantly and after some time spent on drawing new logo, we have completed transition. We hope users will like it. It definitely worked in a sense that we got some attention.

Try it out

Try Valet. It opens Fiat "USD" channel automatically after first wallet launch and you are all set to accept instant payments nominated in US dollars. They aren't real, but created as a result of opening short perpetual futures position on the host side. Service always guarantees payment in satoshis equivalent to current BTC price in dollars.

https://play.google.com/store/apps/details?id=com.btcontract.walletfiat

Yes. It is custodial. However, user doesn't need extra capital as for collateral and additional time for channel opening transaction to be confirmed on the network.