Avalanche has announced that it will be phasing out its Web Wallet on November 30, 2023. The aim is to transition to Core Stake. The development largely affects stakers on the network, who have been assured that their stakeholder needs will remain the same except for a few upgrades that they may come across. Also, their rewards will remain intact at Core Stake.
Avalanche has asked stakers to get started with the new UI through the Core extension. Alternatively, they can choose to connect to Core Stake via a Ledger hardware wallet. Stakers need not create a new account.
A point where Core Stake comes more innovatively is the way it makes it seamless for the community to stake their holdings. Core Stake enables them to directly connect with validators for the said purpose. Making it more interesting is the fact that users can control configurations. This includes elements like the duration of staking, the amount of stake, and delegation fees.
Core Stake is seeking feedback from its users to improve its functionalities. Users’ recommendations to the team of developers will help elevate the experience. A feedback form has been shared by Avalanche in the official announcement, while also informing that the Avalanche Tech Support team will be actively available for any kind of support.
The community has begun reacting to the development, with some of them saying that Core Stake is rather confusing and over-engineered, adding that the Web Wallet is simpler and easier to use. Another member has expressed a similar concern, stating that they are unable to make the transition as the mechanism is confusing. They are also disappointed with the time it will take for the support team to get back to them.
AVAX, its native token, has echoed this sentiment. The last recorded exchange for AVAX was at $19.75, reflecting a slip of 4.08% in the last 24 hours. It further reflects a drop of 6.11% in the last 7 days.
As the community continues to express its concerns over the imposition, Avalanche attempts to align the development with the aim of entering the list as the best crypto staking platform. The list houses the likes of Bitcoin Minetrix, Gemini, Aave, YieldFlow, and Yield App. The community could also be looking at features including, but not limited to, the range of crypto, lock-up period, and frequency of payouts while trying Core Stake.
Avalanche is inviting applications for Codebase, a 12-week program designed to support and fund developers with the potential to build the next big innovation on Avalanche.
Until then, Avalanche will assist stakers who are moving from Web Wallet to Core Stake. It poses a few issues, which could be due to a new UI that is more complicated than the team imagined. How Avalanche improves the experience is yet to be seen.