NEAR wallet transition: why will it happen and what should its users do now

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No doubt, most NEAR users have heard about the transition of the NEAR wallet. But there are still a lot of questions left about its reasons, processes, and relation to MyNearWallet. Here are the most asked questions about the transition with the comments of MyNearWallet team.

Why should I switch from an “official” wallet developed by the Near Foundation to another one?

To begin with, NEAR users have different needs and preferences and one, official, product is really unlikely to cover them all. At some point, NEAR ecosystem developers realized it and decided that in the near future NEAR ecosystem will not have an official wallet and all the DApps will be encouraged to use a wallet-selector. The official NEAR wallet,, will become a listing page for all ecosystem wallets. The exact dates are not announced yet.

The changes should enhance decentralization and inspire healthy competition in the NEAR ecosystem. As a result, without an official wallet, users will get more advanced products. 

How is MyNearWallet connected to NEAR wallet?

Kikimora Labs, is building MyNearWallet on top of the NEAR wallet open source  codebase. The user base was not moved to MyNearWallet. The wallet itself remained open-sourced. In the new project, MyNearWallet team started improving old features, adding new ones, and strengthening the security. At the moment, the support team of MyNearWallet helps users of both wallets. Also, MyNearWallet team solves bug-issues for two projects. Meanwhile, new features will be available only in MyNearWallet. 

MyNearWallet interface still looks almost the same as But as the project team claims, the design will be changed smoothly. 

What will happen to my account?

Users can transfer their accounts to any NEAR wallet they like without funds loss. Here is the instruction on how to transfer your account to MyNearWallet.

Wallet transition Roadmap & Strategy 

  • Phase 0 — Community Engagement [now]
  • Phase 1 — Offboard Users, Enable Export Account Functionalities [Starts October]
  • Phase 2 — A new portal for Array of wallets [Expected to complete early 2023]
  • Phase 3 — End transaction Forwarding
  • Phase 4 — Complete Sunsetting of the NEAR wallet
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