Prax Wallet is the graphical wallet used to interact with Penumbra, and is entirely contained within a chrome browser extension. It allows users to connect to a RPC server and graphical front-end to easily perform various network functions, from shielding assets to initiating swaps. 

Why a new wallet?

In traditional wallets, when you make a transaction, the wallet collects the details (like what you're sending and to whom) and submits them directly to the blockchain. This system is lightweight and fast, but has a downside: your transaction details are visible to the public.

In Prax, each instance operates as an ultra light node on the Penumbra network, syncing a small amount of the current chain state on launch. This brand-new innovation allows all transaction encryption to be performed client-side and locally, providing significantly stronger security, and ensuring privacy begins and ends with the users themselves. To date, no other protocol has implemented this feature, making Penumbra the forerunner of on-chain privacy.

In contrast to traditional wallets, Prax has some minimal system requirements to execute functions and local node syncing. All modern computers will be able to run and sync Penumbra’s chain successfully. Due to this however, Prax is currently unsuitable for mobile deployment and is designed to be run solely on a computer - though users should expect a mobile wallet to be available sometime in the near future. Keep a lookout for an announcement on X!
‍

Getting started with Prax
‍

First, head over to the Prax Wallet website.  Upon clicking “Add to Chrome” it would open up the Chrome extension store on an applicable browser (Chrome, Brave, or Chromium are the most notable examples). Prax is not available on Firefox or any of its derivatives.

Once installed, Prax will be available in the browser toolbar to the right of the URL line. Click on it to open the initialisation page.

Select ‘Create a wallet’ from the initialization page. This will now present you with a 12 or 24-word recovery phrase.It is crucial that this information is stored privately and securely.

Never share this information with anybody else, as it is the only thing required to gain full access to your wallet. Should you lose the phrase, there will be no way to recover your account or funds.

After ensuring the recovery phrase has been backed up, proceed to confirming your recovery phrases by entering three random phrases based on their order.

By clicking the button, you will be prompted to create your wallet password. The last step is to confirm your wallet account creation by clicking the Next button.

Congratulations! You have created your Prax wallet successfully. You can now connect to your dashboard and start exploring the different features of the Prax wallet and experience decentralized finance in full privacy. To get started, connect your Prax wallet to the network and approve the connection request.

Prax will begin syncing the current chain state. This can take anywhere from a few seconds to a few minutes. Eventually, Prax will sync continuously as a background process, but until then it will actively resync the chain each time it is opened.

Once the chain is synced at full block, it is time to deposit some assets to be shielded on Penumbra. On the top of the page, select the ‘shielded assets’ button. 

On the left side, users can select which chain they wish to import assets from. After selection, you will be prompted to connect a wallet from a list of options. Follow the instructions on the screen to complete this step.

At this point, you will see the available assets on your external wallet listed on the left side. Below, you can specify the type and quantity that you wish to transfer onto Penumbra via IBC.

Once notified of completion on the bottom right-hand corner, your assets have officially been shielded on Penumbra. Congratulations! You can view your new balances under the ‘Assets’ tab on the top bar.
Once your funds land in Penumbra, they are fully shielded by default. This means that no one would be able to track your activity and what you choose to do with your assets within the network. Your transactions, balances, and liquidity positions are end-to-end encrypted and you can stake, swap, and LP privately, without exposing any data on-chain.