Today’s Product Push, Smart Contract and Team Update
First, we want to thank you for your patience while we’ve been focusing on developing the new Smart Contract. The good news, it’s almost complete. As we discussed, a sound monetary policy will be crucial for a stable Crowdholding economy in the future. As we evolve, the community must approve future changes to make the ecosystem succeed.
Lets dive into the details of the upcoming smart contract:
- The (old) YUP contract’s data storage (that holds, among other things, pre-ICO and crowdsale participant balances) has been retrieved and is in the process of being ported to the new contract’s data storage.
- After consulting various sources on best security practices for smart contracts, we decided to go ahead with the pull (withdraw) scheme for payments, as opposed to the push (airdrop) one. The implication for our token holders is the following: you will be required to send a zero-value Ether transaction to the new contracts’ address along with a transaction data/message (0x-prefixed alphanumeric string; will be announced). To successfully claim your tokens you should: send the transaction from the same account that you contributed Ethers from; prove you have ownership of the (old) Yupie tokens by making sure they are stored in that same account. Should any of you be unable, for any reason, to comply with these requirements, please reach out to us for additional instructions. By the end of the transition period (to be announced at a later date), all unclaimed tokens will be moved to a separate account and stay there until further notice.
- Token lock info: pre-ICO participants’ tokens will be locked for 3 months and will be able to be claimed (again, pull/withdraw scheme) upon time lock expiry; advisor & team tokens will be locked for 6 months and will be available gradually after that. Again, if you don’t have access to your original purchase wallet, please contact us.
- The supply amount of the YUP will be set at 445,000,000 (as voted by the community — view the task here).
- Right now we are completing the adjustability feature attached to our smart contract eco-system to allow a future monetary policy which we will co-create with all of you. Any changes must be voted on and approved by the community, for the community. This will not be the smart contract that holds the YUP, but a system of smart contracts that will communicate with the YUP supply contract.
The last feature remaining is the adjustability feature which is almost complete. Directly after this, we will be running a test environment with ourselves, coinhub.io, and a few other smart contract auditing companies for security purposes in case of any flaws. Following a successful test (and audit), we will announce the distribution schedule.
Following our successful ICO, we are pushing more affiliations with cryptocurrency media outlets and focusing on creating impeccable, informative content to push our ideology further. Our social media reach is growing daily, along with the amount of Crowdholders.
Beyond online marketing, we are making sure to maintain a physical presence. We are holding our 3rd blockchain and cryptocurrency meetup at our Hub on the 8th of February, if you wish to attend you can find all the information here. Also our CMO will be attending and speaking at cryptocurrency events in Saint-Petersburg, Istanbul, Tallinn, Kiev & Prague. On top of that we are proud to announce that two of our team members will be advisors in upcoming ICOs.
We decided to provide a way for startups to test out the power of the crowd in generating useful feedback. A project named ‘Industry Feedback’ has been created. The idea of this project is to showcase the collective intelligence of our community and to introduce businesses to our innovative co-creation approach. We have posted tasks on behalf of 8 blockchain businesses, and Crowdholders have showed amazing results on providing feedback.
Since our platform supports other ERC20 tokens, we are looking for a diversity of startups who can make use of these. After reviewing, analyzing and contacting around 50 blockchain-based projects, at least 10 project owners have showed great interest in joining Crowdholding. Since the New Year, we have successfully on boarded three innovative projects (Scanta, ImpromptMe and TravelChain), and many more are on the way.
Product and development
Aside from the smart contract implementation, we have also been working on a number of items to improve the overall experience of Crowdholding. These include:
- General bug fixes (pm Henry on telegram with more bugs if you find any!).
- allowing larger comments (10,000 chars instead of 3,000) and making the commenting UI more clear.
- Updated the profile section. Separated the activity page (public) and account (private). Added YUP reward table points to comments.
- A more dynamic leaderboard (monthly top users).
- Performance improvements.
We can see an improvement in our metrics over the last 6 weeks:
- Total amount of users has increased by 1000
- Total active users have doubled
- Returning users have also doubled
- Amount of tasks have increase threefold.
We are very excited about the upcoming months and we will constantly update you on everything. We’re stronger with the Crowd!