PeniWallet: A Non-Custodial Cryptocurrency Wallet Designed to Simplify Token Transactions

PeniWallet is a non-custodial cryptocurrency wallet developed by Penilabs, operating within the SMC DAO ecosystem. It is designed to simplify token transactions and facilitate social engagement in Web3.

Founded by pseudonymous crypto figure Sir Mapy, SMC DAO (SirMapy & Co Decentralized Autonomous Organization) aims to educate and empower its community, known as “Believers,” to capture value in the digital economy. Pictured: Sir Mapy at a crypto event.

The initiative has launched several projects, including Wiki Cat Coin, a meme coin that serves as an entry point for new crypto users, and Defi Tiger, a decentralized finance protocol.

PeniWallet is a multi-address transaction wallet that enables users to send tokens to multiple wallet addresses in a single transaction. This streamlines airdrops and social giveaways, addressing inefficiencies in traditional wallets.

Operating on the BNB Chain, PeniWallet eliminates the need for users to hold BNB for gas fees, which are deducted directly from the tokens being sent. Users retain full control over their private keys and seed phrases, which are encrypted on their devices.

PeniWallet offers in-app token swapping via PancakeSwap, reducing security risks associated with external platforms. With biometric authentication and intuitive token management, the wallet caters to both novice and experienced users. Tokens can be searched by name, and the '+' button on the main screen allows adding a beneficiary to begin a transaction.

Plans include support for Bitcoin integration, EVM-compatible chains (Ethereum, Polygon, Avalanche, Fantom), and non-EVM chains (Solana, TON), enabling cross-blockchain asset management.

SMC DAO, founded by Sir Mapy, is a community-driven organization focused on capturing value in the digital economy. With over 26,000 registered members, 64,000+ onchain transactions, and 50,000+ social media followers, the initiative emphasizes education through tutorials and research. Its projects, like Wiki Cat Coin (launched March 2022), aim to onboard users to crypto via meme-based engagement.

PeniWallet aligns with this mission by simplifying crypto interactions, particularly in Africa, where WikiCat has a strong community presence. The project faced initial hurdles, including issues with Apple testing and the in-app swap feature being mistaken for an exchange.

PeniWallet is still in pre-launch, with the Spray Party functionality undergoing testing during the beta phases. In 2024, the project had 500 beta testers for the wallet, showcasing the scale of the initiative. The project also held a logo design contest in July 2023, engaging the community in the branding process.

The planned launch event for PeniWallet will be a large-scale "Spray Party," aiming to maximize awareness and community involvement as the project prepares for its official debut. A Spray Party is a unique feature of the PeniWallet ecosystem, developed by the Penilabs team and operating within the SMC DAO initiative. It is designed to simplify and gamify the process of distributing cryptocurrency tokens to multiple recipients in a single transaction. This leverages the "Spray" functionality of PeniWallet, which allows users to send tokens to numerous wallet addresses simultaneously.

The feature is ideal for facilitating social token giveaways, airdrops, or community-driven token-sharing events, operating on the BNB Chain. It addresses inefficiencies in traditional wallets, reducing transaction fees, time, and potential for error.

A user (the "host") creates a Spray Party within the PeniWallet app, setting the token type, number of recipients, and token amount per person. For instance, the host might set up a party to distribute 100 tokens equally to 10 participants. The wallet generates a unique invite code for the Spray Party.

The host shares this code and the party details (e.g., "joining Sir Mapy for a WKC party!") on social media, messaging apps, or platforms like X, inviting people to participate.

Interested parties use the invite code in their own PeniWallets to register for the Spray Party. They input their wallet address (which can be a PeniWallet address or another compatible wallet on the BNB Chain). Once the Spray Party is full (e.g., all 10 slots are filled) or a time limit set by the host expires, the host can trigger the transaction.

PeniWallet's Spray feature executes a single transaction, distributing the tokens to all registered addresses automatically. Participants do not need to hold BNB for gas fees, as the fees are deducted directly from the tokens being sent, simplifying the process for new users.

Compared to traditional airdrops requiring the host to perform multiple transactions (e.g., sending 10 tokens to each of 10 users), a Spray Party consolidates all distributions into one transaction. This reduces gas fees and time, and the invite code system makes it easy for anyone with a compatible wallet to