Hey SUKU Squad! 👋 We are happy to have a community-selected name for our community! It’s been a while since our last newsletter, and we have had so much happen. Read on to get the full scoop.
The SUKU Product Suite is on 🔥
If you have not made your way to the SUKU Homepage in the past month, we highly recommend paying it a visit. We have released additional insight and information on some of the products that our team has been heads-down innovating for the last couple of months. If you want the quick explanation, this Twitter thread sums it up nicely.
SUKU DeFi uses open finance protocols to give traditionally unbanked businesses & individuals access to financial tools. Here’s how it works:
- A supplier (e.g., farmer) provides product data through SUKU DeFi, helping SUKU verify a product’s traceability data.
- The supplier gets rewarded for their contributions.
- A supplier can request a microloan by collateralizing accumulated SUKU — a new means for these farmers!
- Once the loan is repaid, the SUKU collateral is returned to the supplier.
SUKU Omni uses verifiable data and analytics to track products throughout the supply chain, which enables brands to share engaging stories with consumers. Omni helps companies better serve conscious consumers, and it helps consumers find verified, transparent products.
Check out this intro video to SUKU Omni for more details on how it works, or read our announcement with True Tribe to see how they’re utilizing SUKU.
SUKU Infinite enables verified authenticity for aftermarket luxury products. This helps businesses monetize authentication efforts, which they may have already been performing. It works by attaching a specialized, secure NFC tag and issuing a matching blockchain-based digital identity. From here, end users can verify a product’s authenticity, transfer ownership, report stolen items, and more!
Non-Stop Progress from the SUKU Tech Team đźš„
Collateralized SUKU on the Testnet — This week our team successfully executed stablecoin loans using SUKU as collateral on the Ethereum Kovan testnet. The lending network deployed consists of a pool of USDC and SUKU, which provide two-way borrowable collateral. For example, in this transaction, a user borrows 1,000 USDC by using SUKU as collateral.
SUKU Engage is Going Global — SUKU Engage, the mobile scanner application in the SUKU Omni suite, is undergoing enhancements to expand availability globally within the Apple and Google App Stores. This will enable SUKU Verified products to be scanned virtually anywhere in the world and will allow consumers to make requests for “SUKU Verifying” specific products from within the scanner app itself.
SUKU Multisend Mainnet Deployment — In an effort to decrease congestion on the Ethereum Mainnet, a new version of the SUKU Multisend contract has been deployed. This smart contract is used to transfer ERC20 tokens, like SUKU, to multiple participants in a single transaction, which saves gas and avoids errors. Going forward, any widespread distributions of SUKU (e.g., rewards to community members) will be processed from this contract.
Welcome Ian Campbell, our Latest Team Member đź’Ľ
SUKU Community, we are pleased to introduce you to Ian Campbell, our latest core team member!
Ian has joined SUKU as a Product and Business Development Analyst, where he contributes to various product streams and helps with business development initiatives. You might have also seen him in the community channels.
Ian has experience in sales, product management, and the overall financial industry from being a financial institutions underwriter at CNA Insurance. During his tenure, he was the company’s cryptocurrency subject matter expert and worked on multiple deals to insure various well-known entities in the crypto space.
“I am very excited to join the SUKU team! Ever since diving into blockchain I realized the potential that it has to change the world, and I quickly developed a passion for the industry. It has been a goal of mine to work at a startup that has both a stellar team and an impactful mission. I can’t wait to see where the future takes us!”
Ian, glad you’re part of the team! We look forward to growing the SUKU Ecosystem with you.
The SUKU Community Goes (even more) Global! 🌎
As you might’ve seen last week, our community is growing and expanding through several initiatives, such as the SUKU Ambassador program. We filtered through countless global applicants to pick 5 crypto and conscious consumerism enthusiasts, formally joining as ambassadors to represent SUKU across the world. We welcome Kevin, Oscar, Wasi, Sherif, and Abhay to the SUKU Squad!
Additionally, we’ve brought on board a new team member as our official Community Growth Lead — meet Maria Sabando! Joining our team as the former COO of the Miami Blockchain Center, Maria comes equipped with years of deep involvement in the crypto space and a knack for building communities.
We can’t wait to take our community to the next level with you, Maria!
Note: it’s not too late to join the SUKU community as an ambassador! The ambassador program will be an evolving process. Please reach out to our team or apply here.
