Announcing our Early Access Rewards program

One of the powerful use-cases that Bitcoin unlocked with it’s peer-to-peer nature is the ability to incentivize and reward contributions without any middlemen or hoops to jump through. This movement has come to be known as “value4value,” and has provided an immensely powerful new tool for content creators, Nostr users, and now community members. Today we’re excited to unveil a new program implementing the value4value philosophy into our existing beta testing process — Early Access Rewards.

tl;dr — Be the first to report any reproducible issue for Passport or Envoy beta releases and get a 10k Satoshi bounty in Bitcoin per issue reported!

Early Access Rewards Highlights

The premise of the Early Access Rewards program is quite simple: contribute meaningful bug reports for Envoy or Passport releases while they’re in open beta, and get rewarded for each individual contribution. No middleman, no lengthy ToS, no Foundation login or account necessary.

How to participate:

1. Test the beta releases for Passport firmware or Envoy app.
2. Report issues on Github.
3. All issues (the first time they are reported) are eligible for the 10k Satoshi reward.
4. Foundation team members will validate the issues for eligibility.
5. Rewards sent directly to your provided Bitcoin address or Lightning invoice.

Join Early Access Rewards today

Want to earn sats for your important contributions to our open-source projects? Simply join our beta testers Telegram room below and keep an eye out for beta release announcements. Once a release is announced, you can submit any issues you find via Github and earn 10k sats per validated issue.

• @foundationbeta Telegram Room

Once you discover an issue with the beta release, submit it via Github using the following links with the “Bug Report” option. Note that this does require a Github account:

• Passport firmware issues: Github – Passport
• Envoy app issues: Github – Envoy

Join the community, help us improve, and get rewarded in Bitcoin for your valuable contributions! 🎉

The future of Early Access Rewards

We’re excited to see how well this program works to incentivize important feedback and contributions from our fantastic community, but we also have plans to expand the program in the future. We’re currently considering creating a hardware Early Access program to get our newest products in the hands of invaluable community members first, and top contributors to this Early Access Rewards program will be first in line.

We have multiple new products in the works, and we can’t wait to watch each of you help us to build and improve as we bring freedom tech to more and more people around the globe. As one of the top contributors to our Early Access Rewards program, you’ll get the chance to test our new products for free as a thank you for your contributions in exchange for feedback and bug reports.

The (not so) fine print

If you have more specific questions on how the program will work, you can read the detailed rules below. Have a question? Don’t hesitate to ask in the Telegram room or email us at hello@foundationdevices.com.

1. Eligibility for Rewards: a. The first reporter of any reproducible issue for Passport or Envoy beta releases is eligible for a 10k Satoshi bounty, paid in Bitcoin. b. Issues must be reported only once, and once made public, they are no longer eligible for additional 10k Satoshi bounties.
2. Reporting Process: a. All issues should be reported on Github in the appropriate repository:
   • Passport firmware issues: Github – Passport
   • Envoy app issues: Github – Envoy
3. Reproducible Issues: a. Issues must be reproducible, meaning that Foundation team members can accurately recreate and validate the issue in the Envoy app or Passport firmware.
4. Judgement and Reward: a. Foundation reserves the right to make the final judgment on whether issues are eligible for the 10k Satoshi reward. b. Once an issue is verified and confirmed as eligible, the reward will be sent to the reporter’s provided Bitcoin address or Lightning invoice.
5. Rewards Distribution: a. The rewards will be distributed in Bitcoin (BTC). b. The amount of the reward will be 10,000 Satoshi for each eligible issue. c. All rewards will be paid out at the end of the beta period.
6. Confidentiality: a. While issues will be made public upon reporting, beta testers should avoid sharing sensitive or personal information in public discussions about the issues.
7. Compliance: a. All beta testers must comply with the rules and guidelines set by Foundation Devices during the beta testing period. b. Any violation of the rules may result in disqualification from the beta testing program and forfeiture of rewards.
8. Changes to the Rules: a. Foundation Devices reserves the right to modify the rules or terminate the beta testing program at any time without prior notice.
9. Disclaimer: a. Beta testers participate in the program at their own risk, and Foundation Devices shall not be liable for any damages or losses incurred during beta testing.

Announcing ENVOY WALLET WITH MAGIC BACKUPS

We at Foundation are thrilled to launch a major update to our Envoy mobile app for iOS and Android, transforming Envoy into a standalone mobile Bitcoin wallet with a magical setup experience. For more details, read the official press release below.

FOUNDATION LAUNCHES ENVOY WALLET WITH MAGIC BACKUPS, LOWERING THE BARRIERS TO BITCOIN SELF CUSTODY

Updates to Envoy and Passport hardware wallet mark significant advancements in the company’s mission to empower individuals to reclaim their digital sovereignty.

Foundation Devices (“Foundation”), a leader in the development of Bitcoin-centric tools, today announced a major update to its Envoy mobile app, transforming it into a standalone Bitcoin mobile wallet with powerful account management and privacy features. This update is a significant step in Foundation’s mission to make digital sovereignty more accessible and to lower the barriers to Bitcoin self-custody.

The new Envoy update introduces Envoy Magic Backups, a feature that simplifies the setup and backup process for a mobile wallet. Users can now get started in 60 seconds – without seed words – and restore their wallet anytime, on any device, in just two taps. This update empowers users to store and spend their Bitcoin with strong security, privacy via Tor, and a streamlined setup experience.

“With this update, we are excited to bring our best-in-class design, intuitive and approachable user experience, and peace of mind to smartphone users across the globe – no Passport required,” said Zach Herbert, Co-Founder and CEO of Foundation.

In addition to the Envoy update, Foundation announced a price reduction to $199 for its highly rated Passport hardware wallet. Customers who ordered in the last 90 days will be eligible to claim a $50 gift card for the Foundation store.

Foundation also released a major new Passport update. The introduction of the Key Manager extension enables two powerful new tools in child seeds and Nostr keys, both of which are derived directly from a user’s seed on Passport and automatically backed up to microSD.

“Foundation is committed to making Bitcoin and decentralized technologies accessible to everyone,” Herbert added. “These updates mark significant advancements in our mission to empower individuals to reclaim their digital sovereignty. We’re excited to continue delivering products that usher in a new era of freedom and prosperity for users worldwide.”

About FoundatioN

Founded in April 2020, Foundation is dedicated to making Bitcoin and decentralized technologies accessible to everyone, enabling users to reclaim their digital sovereignty. The company’s open-source products include Passport, a best-in-class Bitcoin hardware wallet, and Envoy, a mobile Bitcoin wallet.

For more information about Foundation and its products, visit foundationdevices.com.

Announcing Our $7m Seed Round

We at Foundation are thrilled to announce the completion of a $7 million seed round led by Polychain Capital, enabling us to expand, improve, and reach more people with free and open source software and hardware that empowers you to reclaim your digital sovereignty. For more on the raise, read the official press release below.

Foundation Devices Announces Completion of $7M Seed Round to Accelerate Development of its Sovereign Computing Platform

SEED ROUND LED BY POLYCHAIN CAPITAL WITH PARTICIPATION FROM NEW AND EXISTING INVESTORS

BOSTON, MA – December 19, 2022 – Foundation Devices (“Foundation”), a sovereign computing company that develops Bitcoin-centric tools that empower users to reclaim their digital sovereignty, today announced the close of its $7 million seed round led by Polychain Capital. Other investors participating in the round include new investors Greenfield Capital and Lightning Ventures, and existing investors Third Prime, Warburg Serres, Unpopular Ventures, and Bolt.

Founded in April 2020, Foundation builds products that make Bitcoin and decentralized technologies accessible to everyone, enabling users to reclaim their digital sovereignty. Foundation’s flagship product, Passport, a best-in-class Bitcoin hardware wallet, offers a unique combination of intuitive design, hardcore security, and a mobile-first approach with QR codes. In March 2022, Foundation launched its second-generation Passport device, which continues to gain traction and adoption among consumers with thousands of Passports sold over the last 18 months.

Additionally, Foundation is continuing to develop its mobile app, Envoy, as a standalone sovereignty toolkit complete with a Bitcoin software wallet. Envoy offers the easiest onboarding and user experience of any Bitcoin wallet, with maximum privacy using the Tor network, a free and open source software for enabling anonymous communication.

Foundation’s financing will enable the company to continue expanding its team and building open source hardware and software products that provide users with a seamless, end-to-end sovereignty experience.

“Preserving freedom and privacy is more important than ever amidst worldwide censorship, privacy violations, and reckless financial and monetary policies,” said Zach Herbert, Co-Founder and CEO of Foundation Devices. “As the line between the physical and digital world continues to blur, we are excited to continue delivering decentralized products that usher in a new era of freedom and prosperity for users across the globe. This seed round marks just the beginning of our journey to build the world’s first sovereign computing platform.” 

“The Foundation team has been creating gorgeous, incredibly secure, yet easy to use products that further an individual’s ability to self-custody crypto assets,” said Will Wolf, Partner at Polychain Capital. “We are incredibly excited to support them on the next phase of their vision to empower self-sovereign individuals through decentralized technologies.”

“We are proud to support an ecosystem which is open source and transparent,” said Jendrik Poloczek, Principal at Greenfield Capital. “By building products that lower the barrier to becoming a sovereign individual, more people will confidently reclaim control of their money and data.”

“The rave reviews Foundation’s Passport has earned show that people are hungry for a sovereign computing experience that is thoughtfully designed,” said Tyler Mincey, Foundation board member and Partner at Bolt. “This is a giant step in the right direction, both for self-custody and digital sovereignty, and we are excited to continue supporting the Foundation team through this fundraise.”

About Foundation Devices

Launched in April 2020, Foundation Devices builds products that make Bitcoin and decentralized technologies accessible to everyone, enabling users to reclaim their digital sovereignty. Foundation’s open source products include Passport, a best-in-class Bitcoin hardware wallet, and Envoy, a mobile app.

To learn more about Foundation, visit our about page.

Introducing concierge setup

Support for all bitcoiners

One of the beautiful things about Bitcoin is that it attracts people from all walks of life, each with differing time constraints, skill sets and learning preferences. At Foundation, we pride ourselves on producing beautiful devices that are both secure and intuitive. To compliment our hardware we also strive to provide support options that cater to our diverse user base. In a recent blog post, we covered some of the ways in which we try to do this, including a catalogue of videos detailing everything from getting started with Passport, to creating your own sovereign multisig wallet with Specter Desktop. We also have a documentation website, email support, online live chat, and a vibrant Telegram community chat.

We recently announced our stunning new hardware wallet, Passport Batch 2, and its new mobile app Envoy. Our original Founder’s Edition Passport is already easy to set up and pair with a software wallet, but with the addition of an improved user interface (also coming to the Founder’s Edition) and our tailor made companion app, we have taken that ease-of-use to the next level. But we still thought we could do more…

Introducing concierge setup

Launching alongside the new Passport Batch 2 and Envoy, we are proud to announce the launch of our 1-on-1 support service, Concierge Setup. We created this service after realizing that no matter the thoroughness of our documentation, video guides and community, some users find great value in a more personalized touch. We think the ability to have someone on-hand who is experienced and has completed this task a thousand times over is an incredibly valuable option.

Our Concierge Setup service gives you direct access to our in house Bitcoin and Passport expert for a 1 hour call for your own personalized Passport onboarding experience. There is no requirement for you to be on camera or share any personal information throughout the call. During your Concierge call (which takes place via our own private Jitsi meeting server), you will learn how to:

• Set up and configure Passport
• Update Passport’s firmware
• Backup your private keys to microSD and/or seed words
• Pair Passport with Envoy (or an alternative software wallet of your choosing)
• Send and receive to and from your cold storage
• You’ll also have the opportunity to ask any related questions to learn more about Passport and best practices

Concierge booking

Booking Concierge Setup is simple, just head to foundationdevices.com/passport and add the item to your cart (further down the page). Alternatively, we’ll ask if you want to purchase the service alongside your Passport order.

When your Passport ships, you’ll receive an email invite to our booking page where you can choose a date and time to suit you.

After choosing your time slot, leave your name (or pseudonym) and email address for the invite to be forwarded to.

You’ll then get a confirmation with all of the meeting details (this will also be emailed to you). The booking tool also has functionality to automatically add the booking to your chosen calendar software.

And that’s it – our Bitcoin expert will be ready and waiting at the time of the meeting to help you progress along your journey to Bitcoin sovereignty!

Finally, Concierge Setup isn’t just for brand new Passport users. If you already have a Founder’s Edition but think you might benefit from some personalized instruction to get the best from your device, book a session! Need help with creating a multisig wallet using Sparrow Wallet and Passport? Book a session! Want to review your security practices with an experienced Bitcoiner – book a session! If you’ve already purchased Concierge Setup and have not received a booking link, fear not, all booking emails will be sent out when we ship Passport Batch 2 next month.

Introducing Passport Batch 2 & Envoy Mobile App

Last November, we announced that Passport Founder’s Edition sold out to rave reviews. With nearly 1000 of our next-gen Bitcoin hardware wallet in the wild, the Foundation team has worked tirelessly behind the scenes to prepare for Batch 2.

We are beyond excited to share all the details with you today.

Passport Batch 2 was an opportunity to go back to the drawing board. Faced with supply chain challenges, rising component costs, and a sizable wishlist of improvements, we asked ourselves – how can we reduce costs while delivering the industry leading Bitcoin hardware wallet?

But more than that, we knew that Passport needed a companion. A way to streamline onboarding, firmware updates, and learning. A refreshingly simple Bitcoin wallet experience.

So today we are announcing not one, but two new products: Passport Batch 2 and Envoy mobile app! 

Passport Batch 2

After shipping Passport Founder’s Edition and surveying our customers, we went heads-down into design mode for Batch 2. This new Passport is the culmination of months of design and engineering work.

Price

The most common feedback on Passport Founder’s Edition was cost – its $299 price point was steep, especially compared with other hardware wallets.

By redesigning Passport Batch 2 and putting every component under the microscope, we reduced both the cost of materials and assembly. Passport Batch 2 presells for $199. Once we begin shipping, Passport’s price will increase to $259.

Design

Ultra-minimalism is everywhere, and the Foundation team is sick of it! Rather than pursuing a minimalist, boring design, Passport Batch 2 embraces a new design language that we call digital deco. The new Passport borrows ornate elements from the art deco movement and brings them into the 21st century.

Like Passport Founder’s Edition, Batch 2 is constructed of high-quality plastic and copper-plated zinc alloy, a responsive physical keypad, and a magnetic rear cover. 

Notably, Batch 2 is almost 20% thinner than Founder’s Edition!

Battery

Batch 2 uses a standard form factor lithium-ion battery instead of AAAs. This allows for longer battery life and an accurate battery indicator.

Passport uses a standard Nokia BL-5C battery pack. This pack is readily accessible from online retailers, so you are not dependent on a proprietary Foundation battery.

Charging occurs via a power-only USB-C port on Passport. This is a special port that only has pins for power, not data, therefore preserving Passport’s airgap. No need to trust us – you can take a quick look at the port and see that most pins are missing!

Display

Passport Batch 2 incorporates a stunning, high resolution IPS color display bonded to ultra-hard glass. The display is scratch resistant and vibrant, rendering brighter and clearer QR codes in all types of lighting conditions.

The Foundation team designed an overhauled user interface to take advantage of the new display! The UI is modern yet simple, with a new left-to-right navigation.

Little Details

We are especially proud of Batch 2’s little details – like a physical power button for simplicity and convenience, and an improved microSD slot that allows the card to sit closer to Passport and eliminates the possibility of backwards insertion.

Passport now ships with new accessories. In addition to an industrial-grade microSD card and removable lithium-ion battery, Passport includes microSD adapters for iOS and Android alongside a USB-C charging cable.

We also can’t stop ogling the packaging.

Security Architecture

While Passport features an all-new design, its underlying security architecture is unchanged. Passport uses an ultra-fast STM processor, Microchip 608a secure element, Omnivision cameracube, and an avalanche noise source for entropy.

Passport’s hardware and firmware are fully open source under copyleft licenses (CERN-OHL-S and GPLv3).

Envoy

Passport is already easy to set up and pair with the software wallet of your choice, but the Foundation team wanted to take it a step further. We sought to deliver an experience that makes life easier for advanced Bitcoiners and lowers the barriers to entry for new Bitcoiners purchasing their first hardware wallet.

So we made Envoy, a mobile companion app for your Passport. Envoy performs four key functions:

1. Helps you securely and easily set up Passport.
2. Keeps you up-to-date with firmware updates, no computer required!
3. Provides quick and easy access to support resources.
4. Offers a refreshingly simple Bitcoin software wallet.

Onboarding

Envoy guides the user through unboxing Passport and setting it up securely. Instead of using our support website from your computer or phone, you’ll now be able to use the Envoy app for a much improved experience. 

Security 

Envoy primarily communicates with Passport via airgapped QR codes, ensuring that Passport is never directly connected to an online device. Initial Passport setup, supply chain validation, and Bitcoin transactions are all facilitated with QR codes. 

Passport firmware updates are securely downloaded by Envoy and transferred to Passport via microSD card. Envoy sends a push notification when a new firmware update is available, making it easier than ever to always run the latest firmware.

Privacy

Envoy connects to Foundation’s server and Bitcoin node through Tor. This means that Foundation does not know your IP address and is less able to track your activity.

For those seeking greater privacy, Envoy offers the ability to connect to your own Bitcoin node, cutting out Foundation as the middleman.

Openness 

Like all our products, Envoy is fully open source with a copyleft license (GPLv3). This means that advanced users can inspect the code, build from source, and even fork and improve the app. Envoy relies heavily on popular open source toolkits, including Flutter and BDK.

Due to Envoy’s open source nature, you can be better assured that Envoy does what we claim. You don’t have to blindly trust Foundation with the security of your Bitcoin; you can verify for yourself!

Alongside releasing Envoy in the Android and iOS app stores, we will make an APK available for advanced Android users, and will also explore releasing to the F-Droid open source app repository.

Wallet

For new Bitcoiners and those who seek a zen-like experience, Envoy offers a simple Bitcoin software wallet that automatically pairs with your Passport. 

Envoy allows you to pair multiple Passports, each with its own account to send and receive Bitcoin. The only user input is whether to “boost” your transaction by paying a higher fee – that’s it! We suspect Envoy is the simplest Bitcoin software wallet on the market.

Over time we plan to add more advanced features like coin control, but will always offer an unparalleled zen experience for new Bitcoiners.

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We hope you’re as excited as we are about Passport Batch 2 and Envoy.

Passport Batch 2 is expected to ship in April. We’re beginning circuit board production later this month, and are just waiting for the plastic and metal parts to arrive. We’ll have the first set of Batch 2’s on-hand at Bitcoin 2022 in Miami next month.

Envoy will launch in app stores alongside Passport Batch 2.

Our website is now updated with all the details of Passport Batch 2 and Envoy! As Batch 2 is limited to 2500 units, we recommend preordering today to ensure availability. Please contact us with any questions via email or Telegram.

Foundation’s New Mission and Logo

We publicly announced Foundation in May of 2020 with the goal of making Bitcoin and decentralized technologies accessible to each and every individual in order to build a new era of sovereignty, ownership, and privacy. We aimed to build a different kind of hardware company with an emphasis on open source and local manufacturing.

Since then we’ve shipped our first 1000 devices, raised funding from investors, and built a superstar team. We’ve also had more time to reflect on the state of the world. Censorship, privacy violations, uncontrolled money printing leading to historical inflation. We’ve asked ourselves – what can we do to help guide humanity through these challenging times? As in Asimov’s Foundation trilogy – what can we do to reduce this period of chaos and more quickly usher in a new era of freedom and prosperity? 

We realized that an evolved mission and logo were necessary to crisply communicate what we are building and what we stand for. We are proud to unveil both today.

With the rise of the Internet, a digital currency like Bitcoin was inevitable. The Sovereign Individual, authored in 1997, presciently details how society will be transformed in this fourth stage of human society – the transition to the Information Age, powered by the Internet.

Beloved by Bitcoiners and digital currency enthusiasts, The Sovereign Individual predicts the separation of money and state, the corresponding decline of the nation state, and the rise of the individual. 

Today, most people know there is something wrong with the world. They know their privacy is being violated by technology companies that resemble surveillance apparatuses. They know that corporate media and social media are censoring factual information. They know that quarantine camps and social credit scores are simply wrong. They want privacy, they want sovereignty – they just don’t know where to start.

That’s where we come in. If we can lower the barrier to becoming a sovereign individual, we believe that more and more people will reclaim their sovereignty and freedom. This is not a guess; this is our conviction.

Foundation builds Bitcoin-centric tools that empower you to reclaim your sovereignty.

This starts with Passport, our best-in-class Bitcoin hardware wallet. But over the coming months and years we’ll release a suite of hardware and software that makes it easy to become a sovereign individual.

With our refocused mission, we realized that a new logo was also needed. Our current logo evokes a strong foundation and a futuristic cityscape. The triangle evokes strength and positive change, while the trapezoids represent a sturdy bedrock on which to build. But the current logo does not represent sovereignty or properly reflect the state of our world.

Instead of a prominent triangle, we designed a logo that consists of three chords arranged in a circle. A chord is filled with meaning in the fields of linguistics, mathematics, culture, science, and technology. When we consider a chord we think of harmony, we think of geometry, we think of engineering.

Our new logo, in its purest form, is three chords – three notes – that represent the classic three-act structure. 

In Act I, the Setup, Bitcoin was invented as the global financial system was faltering. Cypherpunks served as early adopters, rapidly improving the network so that it could compete directly with fiat currencies.

In Act II, the Confrontation, things seem bleak. A global pandemic has been twisted into a worldwide authoritarian power grab via mass lockdowns of populations, restrictions on movement, vaccination passports, mandatory quarantine camps. But on the sidelines, Bitcoin is slowly gaining adoption from millions of individuals, numerous corporations, and even nation states. We are currently in Act II, and it’s where we will likely stay in this decade.

In Act III, the Resolution, we emerge victorious with a Bitcoin standard. Billions of people are transformed into sovereign individuals. A new era of progress and prosperity begins.

Our new logo evokes a strong foundation, but the triangle is not actually there; the triangle is simply the space between the chords. The three separated chords demonstrate that a collection of sovereign individuals – though decentralized – can form a sound foundation for human freedom, strength, and progress.

We’re humbled by the opportunity to build such important technology at a critical moment in human history. Join us as we transition to the era of sovereign individuals!

Passport Founder’s Edition is Sold Out! Preorder Batch 2 Today.

In Summer of 2020, we introduced our design for a next-generation Bitcoin hardware wallet that uses a camera and QR codes to facilitate airgapped transactions. We aimed to build a device that was beautiful, intuitive, and secure – while also being open source and assembled in the USA. We called it Passport.

We began shipping our first batch of 1000 devices, Passport Founder’s Edition, in May. We are thrilled to announce that our first batch is officially sold out! 

Feedback on Passport has been overwhelmingly positive. In our recent customer survey, we received scores of comments lauding Passport’s ease of use, design, build quality, and commitment to the FOSS (free and open source software) movement.

Our users have also been spreading the good word on Twitter.

@FOUNDATIONdvcs Passport. New tutorial coming on this slick airgapped QR hardware wallet. This thing is WELL BUILT. #bitcoin pic.twitter.com/uYCIK2phQg

— Bap (@BTCBap) June 26, 2021

I love it! It is my favorite hardware wallet. It’s fully airgapped, best UI/UX, FOSS (hardware and software), very easy to manage multiple wallets, convenient QR code scanning.

— Lili (@Marketsbylili) October 12, 2021

Hey @derekmross I got my Foundation Passport today! It's all setup and ready to HODL! This is a really solid well made device and very user friendly, very easy to setup and configure. #MyKeysMyCoin @zachherbert @KenOfFoundation @_jacob_johnston thanks for a most excellent device! pic.twitter.com/zxqNBxTPtU

— Robert Warren (@gadgetguy615) October 7, 2021

I would highly recommend getting a @FOUNDATIONdvcs Passport!

Absolutely love mine! QR scanning makes it so much easier. MicroSD’s and being limited to one or two small buttons is so passé!

It is by far the best, most advanced and future forward hardware wallet out there IMO! pic.twitter.com/sl9B8oHdlz

— ₿itcoin Only! ⚡️⛏💎 (@b_bitcoin_only) August 28, 2021

Once you use a Passport, there is no going back. Take it from the esteemed Bitcoin Q+A, who after getting his hands on a Passport and writing a fantastic getting started guide, decided to join the Foundation team in a full time role! 

Passport Batch 2

We are now preparing for Passport Batch 2, which is estimated to ship in February 2022. Batch 2 will consist of 2500 devices. All long-lead time components, such as the processor and secure element, have already been procured. 

The Foundation team is made up of perfectionists. So rather than continuing to ship the exact same product, we’ve made numerous improvements to the electromechanical design and manufacturing process, while keeping the security architecture and general form factor unchanged. We’ll detail these improvements over the next couple of months.

This has allowed us to substantially reduce Passport’s cost. So we are launching preorders with a special price of $199, a full $100 price drop!

As of today, you can preorder Passport Batch 2 on our website. Preorders are completely refundable, even if paid in Bitcoin. 

EASIER BITCOIN PREORDERS

If you preorder in Bitcoin but change your mind, we’ll refund your entire purchase amount denominated in Bitcoin.

Likewise, if you pay in Bitcoin but the price appreciates between the day you order and the day we ship, we’ll refund your Bitcoin gains before shipping. This way you won’t have to make the difficult choice between paying in Bitcoin to preserve your privacy or losing out on potential Bitcoin gains between now and February! 

Founder’s Edition Customers

To our Founder’s Edition customers – we massively appreciate your support and faith in us. Passport Batch 2 won’t ship for 3 months, but we still understand that a $100 price drop is significant. Therefore we’ll be emailing you in the next few days a 21% discount off a Passport Batch 2 unit, in case you want to buy a new Passport for yourself or for a family member.

Additionally, though Passport Batch 2 will introduce numerous improvements, Passport Founder’s Edition will continue to receive regular firmware updates! We’re excited to keep improving your Passport experience as time goes by.

Questions? Contact us at hello@foundationdevices.com, DM us on Twitter, or join our Telegram group.

Announcing Our Pre-Seed Raise

Foundation Devices is thrilled to announce that we’ve raised a pre-seed round of $2.5M led by Bolt.

Joining us are new investors Third Prime, Massachusetts Avenue Capital, Unpopular Ventures, Deep Ventures – as well as existing investors Warburg Serres, Fulgur Ventures, Inflection, and notable angels.

Bolt, a prominent early-stage venture fund, invests at the intersection of the physical and digital worlds. They were first round investors in groundbreaking hardware companies like Desktop Metal, Tonal, Nautilus Bio, and Fi.

Tyler Mincey, a partner at Bolt, is joining our board. Tyler has a highly relevant background in product management, design, and hardware/software engineering in companies large and small. At Apple, Tyler was a member of the original iPhone core team, later managed the iPod new product roadmap, and shipped over 150M units worldwide. We are thrilled to work closely with Tyler on developing new products and honing our design & manufacturing capabilities. 

Foundation is building the open hardware foundation for Bitcoin and a decentralized Internet. We believe that a new Internet, powered by open source software, must run on open hardware. Today’s devices are opaque, proprietary, and restrictive. Our goal is to build a new category of sovereign computing to serve as an open platform for development of a decentralized Internet. 

For Bitcoin and a decentralized Internet to succeed, users must store their own keys and run their own infrastructure. This is where we come in. Foundation believes software solutions alone are insufficient – consumers need integrated hardware and software to make it as easy to store your own keys as it is to open an account on an exchange. 

Last month we began shipping our first product, Passport, a next-gen Bitcoin hardware wallet. Passport is designed to be beautiful, intuitive, ultra-secure, and completely open source. Over the next several months we will improve Passport with firmware updates and design enhancements, as well as introduce companion software to further enhance the user experience.

To date, we’ve built all of Foundation with just four cofounders. We are now excited to be expanding the team in the following areas. If interested, view our Jobs Page and email us at jobs@foundationdevices.com.

• Software Engineering (web, mobile, embedded, Bitcoin)
• Mechanical Engineering
• FPGA & ASIC Engineering
• Graphic & Industrial Design
• Operations
• Customer Support
• Social Media & Community

Join us in our mission to make Bitcoin and decentralized tech accessible to each and every individual in order to build a new era of sovereignty, ownership, and privacy – and empower humankind.

– Team Foundation

Foundation Devices Launches Preorders for Passport and Raises angel Round

In late July, we introduced Passport – a new Bitcoin hardware wallet that is more elegant, ultra-secure, and open source. Today, Foundation Devices is excited to announce that:

1. Passport is now available to preorder, with a Founder’s Edition limited to 1000 units.
2. Foundation Devices has raised an angel funding round from notable investors.

About Passport

Foundation Devices is building the open source hardware foundation for Bitcoin and the sovereign Internet, starting with a hardware wallet called Passport. We intend Passport to appeal to a broad audience of Bitcoiners – whether you are an expert user accustomed to hardware wallets or a new user currently storing your coins on an exchange.

Passport provides a radically simplified, zen-like user experience. Foundation Devices is working hard to eliminate the hardware wallet learning curve with a streamlined setup process, intuitive interface, and familiar navigation.

With numerous high-quality multisig software wallets entering the market, it is more important than ever that we have a hardware wallet that is easy to use and welcoming to new users. Passport is our attempt to build the “iPod” of hardware wallets.

Preorder Details

Passport is priced at $299 and includes 2x industrial grade microSD cards, 2x AAA batteries, and free shipping within the USA. Founder’s Edition is limited to 1000 units and includes an exclusive back cover design, special packaging, and a surprise gift.

Our official estimated shipment date for Passport is March 31, 2021 – but we are aiming to deliver Passport in time for the December holidays. Foundation Devices has already placed orders for long-lead time components and will finish ordering all components in the next several days. Due to COVID’s continuous impacts on global supply chains, we have chosen to be more conservative.

Please note that this is not crowdfunding – Foundation Devices already has the funds required to pay for the full production of Founder’s Edition devices. If you change your mind before Passport ships, cancel your order at any time and receive a full refund. If you stack too many sats and overdraw your bank account, we will do our best to refund you same-day! (Yes, this actually happened.)

To ensure your privacy, Foundation Devices self-hosts our website and checkout flow using WordPress and WooCommerce. Payments by credit card occur via Stripe and payments by Bitcoin occur via our self-hosted BTCPay server. We are especially proud of our beautiful BTCPay checkout design; thank you @artdesignbySF for your great work.

Open Source

Passport will be the only hardware wallet on the market – and one of the only consumer hardware devices in existence – that meets the definition of Open Source Hardware according to the Open Source Hardware Association (OSHWA).

Passport’s hardware designs will be open under CERN-OHL-S v2 and firmware under GPLv3. While other hardware wallets have open source firmware, none include hardware designs that are legally considered open source. They (1) omit design files, (2) use inappropriate licenses like GPL or Creative Commons, (3) restrict commercial use, and/or (4) lack detailed component documentation, specifically in the Bill of Materials (“BOM”).

We are a corporate sponsor of OSHWA and will be submitting Passport for official certification. All future hardware that Foundation Devices makes will be open sourced under the appropriate licenses and certified by OSHWA.

We will be publicly posting our hardware and firmware to Github later this Fall, after completing validation of our next round of prototypes.

Assembled in the USA

Foundation Devices believes in the importance of local manufacturing and more robust global supply chains. Most of today’s devices are assembled in China, a communist regime that heavily censors the Internet, surveils its citizens, and seeks to undermine citizens’ privacy and sovereignty. This creates numerous geopolitical and security issues, especially with the rise of Bitcoin. Our devices will soon be safeguarding trillions of dollars of value – it is imperative that we trust our hardware manufacturers.

We therefore chose to assemble Passport locally, in the USA, and purchase all of our components from American companies and distributors. While many components still originate from Asia, the critical parts – such as the screen, processor, secure element, and camera – all originate from highly reputable suppliers. And circuit board assembly, device assembly, provisioning, and testing all take place in the USA. The Foundation Devices team will be on-the-ground at the factory during production.

To our knowledge, Passport is the only hardware wallet assembled in the USA. For advanced users, it may be prudent to add Passport to your multisig setup in order to defend against potential supply chain vulnerabilities.

Progress

We’ve been hard at work over the last five months designing Passport, prototyping, and preparing for production. Here’s an overview of our progress to-date:

Enclosure

We completed the design of the enclosure and are currently prototyping via 3D printing. We have placed orders for long-lead time enclosure components, including the keypad assembly and copper-plated zinc alloy casted part.

Circuit Boards

We completed design of the circuit boards and have completed two prototype revisions. We will be ordering our third revision of prototype boards in the next several days. Novel features include:

• Camera for scanning QR codes.
• AAA battery power.
• Avalanche noise source, an open source true random number generator that uses standard components (no black-box silicon).
• Sharp Memory LCD, which has circuitry etched directly into glass for easy visual inspection, and unlike most displays includes no black-box silicon.

Firmware

We forked Coldcard’s open source firmware (licensed as GPLv3) and have made numerous changes. We anticipate finishing v1 firmware by end of November. We intend to contribute relevant improvements back to Coldcard. Changes include:

• A new UI with simple navigation via a navpad and dedicated select buttons.
• Changes to all copy and radical simplification of menu structure.
• Ability to scan QR codes and transmit PSBTs via QR codes.
• Code reorganization to comply with Micropython best practices.
• Implemented new device drivers for Passport components including camera, screen and keypad.
• New keypad controller to allow for more advanced input, such as long-presses.
• Ultra-fast keypad responsiveness.

We ported Blockchain Commons’ UR Standard (for data transmission via multi QR codes) to Python. This can be seen on our Github.

We created a font converter to generate python code from BDF fonts. This can be seen on our Github.

Funding

Foundation Devices recently raised an angel round to fund development and production of Passport. Thank you to our investors for enabling us to build a hardware company that believes in open source, sovereignty, and privacy.

Next Steps

Learn more about Passport and preorder your Founder’s Edition below, limited to 1000 units!

Read through the FAQs and contact us at hello@foundationdevices.com with any questions.

Introducing Passport: an Elegant and Secure Bitcoin hardware wallet

Bitcoin passing $11k signals a new bull market, with incredibly exciting times ahead for Bitcoiners as we prepare to welcome a new flood of users into the ecosystem. But we must ask ourselves – how will new Bitcoiners store their coins? Will they use Coinbase, who already holds almost 1 million Bitcoin? Or will they embrace sovereignty, privacy, and ownership by self-custodying their own Bitcoin? 

Foundation Devices believes that today’s hardware wallets make the wrong security and design tradeoffs. They’ve worked for us early Bitcoiners so far because we are willing to deal with difficult interfaces, metal seed backups, safety deposit boxes, Shamir’s Secret Sharing, and so much more. But they won’t work for the new wave of incoming Bitcoiners as we reach mass-adoption by the end of this decade.

Bitcoin needs a hardware foundation that is beautifully designed, easy to use, and open source. Most of today’s hardware, including Ledger wallets, are closed source. As Bitcoin’s market cap grows to the trillions, so do the incentives for attackers to compromise closed-source hardware. We must rebuild today’s hardware stack to be open source, auditable, and verifiable – from the chips to the circuit boards to the firmware and beyond.

Foundation is taking our first step on this journey by introducing an elegant, secure, and open source hardware wallet named Passport. We are thrilled to officially announce Passport today, and are accepting reservations for our first edition batch of 1000 units. 

So what makes Passport special? Passport is designed to be elegant; something every Bitcoiner would be proud to carry. We use high quality materials like soft-touch plastic and copper-plated zinc alloy. At 4 inches long x 1.5 inches wide x 0.8 inches thin, Passport is comfortable to hold and use.

Passport’s interface is intuitive and familiar, with a simple navigation pad and physical alphanumeric keypad. There’s no need to learn how to navigate the menus and enter PIN numbers and passphrases – you already know how to use Passport. 

To sign transactions, simply insert a microSD card or scan a QR code. Wallets like Bluewallet already support multi-QR transmission, and Passport is compatible with any software wallet that supports PSBTs over microSD or QR. 

Passport is open source and uses the same high-level security architecture and firmware base as Coldcard, with a Microchip secure element and STM processor. The circuit board designs and firmware will be published on Github in the coming weeks, with hardware licensed under CERN’s Open Hardware License V2 and firmware under GPL3. No unknown code will run on the device.

Completely airgapped, Passport is powered by two AAA batteries and includes no USB port, Bluetooth, or wireless communications of any kind. Passport has numerous security features, such as security lights and an avalanche noise source for entropy. And Passport uses more trustable components, like a screen with circuitry etched directly into glass, which allows for easy inspection at production.

Foundation Devices, headquartered in Boston, is focused on building open hardware for Bitcoin and the sovereign Internet. We will proudly assemble Passport in the USA.

We cannot wait to tell you more about Passport in the coming weeks! Passport will launch for preorders in August and will ship by late December. We have already received over 500 email reservations for our first edition batch. 

Learn more about Passport and reserve yours below!

And feel free to check out the FAQs and contact us at hello@foundationdevices.com with any questions.