CanYa — 2018 Year in Review
A quick review of 2018 and what to expect for 2019 and beyond
The CanYa team have been hard at work in 2018. After 12 months here are some numbers we can hang our hats on:
CanYa — Some Numbers
- 63,851 token holders
- 108,000 transactioins
- 400m in CAN transacted
- 25k social media audience
- Almost 1000 in dApp signups
- 232 CanSend multi-token send transactions
- 49 hedged escrow transactions
Here’s a quick summary of the year:
The team launched the token on 08 January 2018 on a number of exchanges, fulfilling the promise of early liquidity. In the preceding months the team worked hard to achieve the following:
- Listing on over 10 exchanges
- Debuted Trust Wallet’s first airdrop to about 10k users
- Debuted Earn.com’s first airdrop to about 12k users
- Launch of Korean community
The team began launching a number of dApps to fulfil the promise of free tools to help freelancers, alongside the alpha release of the CanWork dApp:
- CanSign.io — quickly sign a document and store on IPFS
- CanSend.io — quickly send tokens to up to 250 accounts
- CanShare.io — quickly share documents on IPFS with anyone
- CanTrack.io — quickly track your daily work activities
- CanStation.io — quickly see the price of ether in transactions
- CanInvoice.io — quickly invoice a client with your work
The team also did a 100k CAN giveaway to a charity nominated by the CAN HODL Club with AidCoin, as well as aggressively growing the community in China.
The team began the rollout of the first version of CanWork to our users. After much feedback the dApp was radically improved over the quarter:
- Launched on Coinbase Wallet
- Launch of the much-anticipated hedged escrow
- Launch of CanExchange — an easy way to accept payments in any ERC20 token
The team finished the year off by finalising the minimal marketable product of CanWork, which includes public job boards, ratings and reviews, as well as some other announcements:
- Live on Delta Direct
- Live on Blockfolio Signals
- Release of the CanSwap whitepaper
- Draft of the DappNodes whitepaper (under review)
Whilst the team is very proud of the effort made in 2018, here are some of our lessons learned:
- Always consult the community — some decisions were made without full community support. We corrected this by having a much better forum where our community could talk with us.
- Disproportionate focus on early liquidity — we focussed on liquidity far too much in Q1 2018 when we should have been building harder.
- JD.com Accelerator Disappointment — we were very excited to be in the JD.com Accelerator in Feb 2018, but after significant pressure from the Chinese Government, JD shuttered the initiative in August 2018. It was an anti-climax for us and the community.
- Decentralised too early — we launched the Alpha version of CanWork with too much decentralised aspects which hurt the user experience. We spent a significant amount of time undoing this in Q2 2019 to meet our communities’ expectations.
With these lessons learnt early, the team responded fast and we are very happy with Q4 2018. There is a lot to look forward to in 2019.
Going into 2019 the team are looking forward to launching the ambitious decentralisation plan to ensure the ecosytem continues to return value back to the community. This includes a new CAN token, CanSwap, DappNodes and the DAO.
The new CAN token will be discussed in detail in Q1 2019, but it offers a fundamentally better experience with smart contracts and the CanYa ecosystem, as well as changing from an Ethereum network fee to a CanYa network fee. This will drive a stronger economy.
CanSwap is one of our most exciting ideas, and it will forever cement the CAN token’s usefulness in allowing liquidity and choice in payments. At a base level it allows anyone to contribute to market liquidity in a permissionless way, and we are confident the CanSwap user experience will be second to none.
DappNodes is an exciting move to reduce reliance on central points of failure, and the team are looking forward to turning off ALL CanYa servers before the end of the year — instead the community will be incentivised to run the hosting infrastructure and be paid for it.
Finally the DAO is the most important aspect of 2019 — allowing the community to make decisions around the economy. You can view it as the missing piece of the puzzle in allowing CanYa to scale to all corners of the world in providing the necessary social scalability.
We are super excited about 2019 and beyond. If we remain focussed on driving value back to the community then we are confident we will steadily grow and scale to the world. 2019 will be the year where the community take over CanYa and run it with the correct incentives. Leaderless, permissionless and decentralised. Just the way it should be.
The CanYa Team