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NAMI HAS JOINED THE IOG PRODUCT FAMILY

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FAQ


WHAT IS NAMI?

Nami is a non-custodial, browser-based wallet extension for interacting with the
Cardano blockchain and connecting with DApps. It allows users to send and store
multiple assets, delegate ada, and more.
IS NAMI COMPATIBLE WITH OTHER CARDANO WALLETS?

Nami is fully compatible with Lace, but has limited compatibility with others.
It does not track all addresses from an imported wallet which leads to only
partial asset reflection. Nami uses a single address approach and allows users
to create sub-accounts from a single recovery phrase. Migration between wallets
is possible, but creating a new wallet for Nami is recommended.
IS THERE A COST FOR USING NAMI?

Nami is free to download and use. Some third-party services may charge fees.
CAN I IMPORT MULTIPLE WALLETS?

Nami allows users to import one recovery phrase and pair multiple hardware
wallets. Each wallet has multiple accounts, each functioning independently with
a degree of privacy and anonymity. It supports delegation to different pools
from each account.
CAN I STAKE/DELEGATE FROM NAMI?

Nami supports delegation to any Cardano stake pool.
WHAT IS COLLATERAL?

In Cardano, phase one validation for transactions ensures verification before
network entry. Smart contracts are validated in phase two, with collateral taken
for resource usage in case of contract failure. Nami limits collateral to five
ada to minimize risks and prevent network spamming.
WHAT IS MY PRIVATE KEY?

A private key is a long sequence of digits and letters that uniquely verify
ownership of your digital assets. Private keys should only ever be shared with
the key's generator or parties authorized to decrypt the data.
WHAT IS MY RECOVERY PHRASE?

Because the private key can be hard to remember, you’ll also get a recovery
phrase (also known as a mnemonic or a seed phrase) of 24 words when you first
create your wallet. Typically, the longer the word sequence, the less likely
someone will be able to guess your recovery phrase.

You use the phrase to recover your wallet and access your assets, so make sure
you store it securely. If you are recovering your wallet from another platform
on Cardano, you may have a 12 or 15-word recovery phrase.

You will receive your recovery phrase when you first create your wallet. Make
sure you keep it in a safe place, preferably written down somewhere offline.
Please note that neither IOG nor its affiliates will know or store your recovery
phrase. If you lose it, there is no way to recover it and access your digital
assets.
WHAT HAPPENS IF I FORGET MY WALLET PASSWORD?

If you forget your password, you can only recover your wallet by using your
recovery phrase. So make sure you always store your recovery phrase securely
offline – write it down and keep it in a secure location.
WHAT HAPPENS IF I LOSE MY RECOVERY PHRASE?

If you lose your recovery phrase, you lose access to your wallet and your
digital assets. That’s why it’s so important that you store it somewhere safe.
IS THERE A WAY TO RECOVER MY WALLET IF I LOSE MY RECOVERY PHRASE?

No. There’s really no way to recover your wallet if you lose your recovery
phrase. This is fundamental to how the blockchain works. You and only you are
the owner of your recovery phrase and that is why losing your recovery phrase
means losing access to your digital assets. Neither IOG nor its affiliates will
know or can restore your recovery phrase, and there's nothing that can be done
to help you if you lose it. That’s why it’s of critical importance that you save
your recovery phrase in a safe place.
HOW DO I ADD ADA TO NAMI?

You first need to purchase ada from an exchange and send it to your wallet
address – you can find your wallet address by clicking the Receive button.
CAN I SEND ADA FROM NAMI TO OTHER WALLETS?

You can send ada to any Cardano-compatible wallet. Nami includes safeguards to
prevent you from sending digital assets to wallets that don’t support Cardano,
but it's always a good idea to triple check the address you are sending your
digital assets to. A good rule of thumb is that all Cardano addresses start with
‘addr1__’.
WHAT IS NETWORK SWITCHING?

Nami lets you switch between networks to test new releases and features, before
they’re deployed on the mainnet. You can choose from three testing environments
(preview, pre production and the deprecated testnet) and the mainnet environment
(production).

Network switching means there are fewer bugs on the mainnet and means everyone
enjoys a smoother experience.
WHY DOES NAMI ASK TO READ YOUR CHROME BROWSING HISTORY?

Upon installing the Nami extension on Chrome, you would have encountered a
notification asking for your consent to access your browsing history. By
clicking “I accept” you allow us to use cookies to collect information about
your use of our services. The information we collect is anonymous and is used to
understand how you interact with our services, like when and how often you use
them, what links you visit and from where. This information helps us detect
issues, understand where we may improve, or develop new products or services. As
an example, should a decentralized application (DApp) initiate a link with Nami
through the CIP-30 - Cardano DApp-Wallet Web Bridge, Nami will utilize the
Chrome Tabs API to gather details such as the DApp's URL, name, and icon. This
process allows these details to be accurately reflected within the Nami
interface.

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