1inch Network, the decentralized exchange aggregation protocol, announced on Thursday the development of a new hardware wallet designed for secure offline storage of private keys. The project is said to be in its final development stages, with sales expected to launch later this year. The announcement comes amid a surge in demand for hardware wallets following the collapse of FTX, as confirmed by Ledger and Trezor manufacturers.
Design and Specifications
The wallet is being developed by an independent team in collaboration with the 1inch Foundation, which provided a grant for the project. The device is fully air-gapped, featuring no physical buttons and requiring no wired connections. Data is exchanged via QR codes or optionally via NFC (Near Field Communication). Sized like a credit card, it weighs 70 grams and measures 4mm thin. The front features a 2.7-inch e-ink grayscale touch display, similar to that found in e-readers, providing low power consumption and sunlight readability.
Durability is a key focus: the wallet is waterproof, with a Gorilla Glass 6 surface and a stainless-steel frame. It comes in five color options and supports wireless charging. According to 1inch, the battery can last up to two weeks of regular use. The team has launched a waitlist program; interested users can sign up to be notified when the device becomes available.
Security Architecture and Multi-Wallet Support
The 1inch hardware wallet utilizes a Hierarchical Deterministic (HD) wallet algorithm in accordance with BIP44. Users can create and manage multiple sets of wallets using different seed phrases. At first use, a random maximum number of wallets is generated, and only the device owner knows the count. Different PIN codes grant access to different wallet sets, mitigating security risks associated with single-point exposure.
The device supports managing several wallet sets simultaneously. For example, one wallet can be used for daily transactions while others remain completely isolated. This design aims to close the “market security gap” by preventing a single compromised seed from affecting all assets.
Market Context and Comparison
The launch places 1inch in direct competition with established players like Ledger and Trezor. Ledger recently released the Stax, designed by iPod creator Tony Fadell, which also features a credit-card form factor and an e-ink screen. 1inch differentiates with its completely cable-free operation and open-source software architecture. The device does not rely on Bluetooth or USB, reducing attack surface.
1inch has not yet disclosed a product name for the new hardware wallet; the waitlist page simply refers to it as “1inch Hardware Wallet.” Industry observers note that as a leading DeFi aggregator with a large user base, 1inch could leverage its ecosystem to drive adoption. However, it faces the challenge of building trust against incumbents with years of security track records.
The team emphasizes that this is not just a cold wallet but an offline security system. Future updates may integrate DeFi transaction signing directly on the device. With the crypto industry increasingly prioritizing self-custody, the 1inch hardware wallet aims to offer a modern, convenient, and maximally secure solution for private key storage.