The WalletDAO is a decentralized autonomous organization governed and owned by WALLET token holders. Its purpose is to govern Ambire development and integrations.
Since wallets are the main user-facing component of crypto infrastructure, integration decisions are usually the most contentious. Especially if the wallet is designed to be a full-featured DeFi dashboard like Ambire.
For example, what if two DeFi protocols are competing over being the default provider of the Swap functionality? Their respective communities will likely lobby for their protocol to win. The $WALLET token and the DAO give the opportunity for everyone to put their money where their mouth is by actually buying $WALLET and competing through a governance system designed to elect a clear winner.
As per Ambire Wallet 2022 roadmap, the ETA for the launch of WalletDAO is Q2 in 2022.