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There was a talk at the Cardano summit mentioning the new Cardano light wallet in the works by IOHK and Charles Hoskinson very briefly made a reference to the same project in his latest Dapps whiteboard talk (from 46 min 34 s).
Do you know if the source code will be open-sourced? If the source code is already accessible and where? Github doesn't seem to have a repo for it.
I would really love to understand if this wallet could be the MetaMask equivalent in the Cardano ecosystem.
As far as I know, the wallet or its source code is not yet release.
If you are looking for a metamask equivalent, you might want to check Nami wallet.
I don't think IOG has announced if it will be or not. It is still in development/testing so maybe that is why. I would guess it will be open sourced based on Emurgo open sourcing their Yoroi wallet: web and mobile.
IOG did say they want this new wallet to be interoperable with other chains so I think if they are taking on MetaMask (also open source) they would do the same.
This new light wallet could certainly be the MetaMask equivalent. I think of it similar to the official Algorand Wallet. Although there is a point to be made around the success and innovation of these 3rd party wallets in our space.
I think you might be talking about 'Mithril'.
Here is some info as a starting point: https://iohk.io/en/blog/posts/2021/10/29/mithril-a-stronger-and-lighter-blockchain-for-better-efficiency/
