Form https://www.reddit.com/r/Monero/comments/1fwmhto/rino_wallet_closing_down_end_of_october/
Hello everyone,
It is with a heavy heart that we announce the upcoming winding-down of RINO.
A few years ago we realised Monero was missing critical bits of professional tooling for teams, be it companies, NGOs or fluid groups of individuals. One missing tool we identified was a wallet software that allows multiple users to deal with shared funds in a secure way. Professional principles such as splitting roles among transaction preparers and approvers, hierarchical transaction limits within an organisation etc were not just available for every other large blockchain project, they are the de-facto standard used in the industry.
And so we embarked on a mission to offer similar tooling for Monero, aiming to boost its adoption by the industry at large. This was and remains a worthy and exciting goal, especially as the Monero project is too often delisted or unsupported, often out of regulatory concerns but also because the usual tools expected by the industry are still largely absent.
While we attempted to monetize the platform via paying businesses, we’ve also always offered a free version of RINO so the community benefit from its features. It was not just the main RINO wallet product: many of you will remember using our “community tools” over the years, such as nodes, explorers, faucets, docker images etc. We are very proud of this and grateful to all community members for the nice words over the years. Ultimately though, our attempts to monetize the product never bore fruit to a point where the product could sustain itself, and at some point we have to cut our losses. As a consequence, we decided to discontinue the RINO product.
We will shut down the platform on October 31st, 2024. If you want to withdraw your funds via the RINO platform, please do so until that date. After that date, you will have to use your recovery document, allowing you to access your funds locally.
Long live Monero, and a big thank you to everyone who supported us. We hope to build more cool things with Monero in the future :)
The RINO team
PS: Note that there is a known bug affecting wallets that haven’t been accessed for a long time, due to a synchronisation issue. If you connect for the first time since many months, it is possible your wallet will hang when attempting to send a transaction. If it is the case, just wait ~1h (your wallet will automatically resync on our servers), after which it will be fully functional. This only affects old wallets not accessed for a while, and will only affect them once.
PPS: Unfortunately there is no “sweep” feature on RINO. If you want to empty your wallet via the RINO platform it is possible some picoxmr dust remains on your wallet if you do not take exactly into account the transaction fees. Use your recovery document if you want to access remaining dust.
A large part of the source code is already open-source, which was important from a security point of view: https://github.com/rino-wallet
The server side code is still currently a company asset, and we have not yet determined the next course of action for it.
We plan to hold onto the domain for several years to avoid anything fishy with it, and we will think about transferring to the community after that.
Unfortunately not planning to host public nodes. Our mainnet node was beefy enough in terms of bandwidth to cost us >2k$/month, we cannot afford such a cost at this point.