Mention was made last week of partnerships that are being worked on by the Catoshi leadership. They are verbally agreed and we are waiting for ink to be on the paper before we can shout loud and proud. However, further discussions have progressed this week so hopefully it will be weeks rather than months before at least one of these can be formally announced.
We have said for some time that the bigger Catoshi gets the faster it will grow, something that I’m sure the community is bored of me referring to as the ‘snowball effect’. The reasoning being that many projects, especially larger projects, aren’t willing to take what they consider a risk in working with a small company. This perception changes as more projects on-board, especially larger projects. Bridging can be seen as a risk by many projects but if they see other projects working with a bridging provider that provides legitimacy. We presumed that we would gain legitimacy slowly over time, increasing the size of the projects we work with gradually as the size of the previous partnerships grow. But the partnerships we are working towards and are in discussions with are not those in line with projected growth. They are big partnerships. Significant partnerships whose technology and legitimacy would catapult Catoshi forward skipping a whole period of gradually increasing growth. We are incredibly excited by these prospects and can’t wait until the announcements can be made.
On-boardings
Progress is coming to the latter stages with the on-boarding of 2 projects. Their bridges are being built and we should be able to announce who they are in the near future. We are also working with 5 other projects through the earlier stages of the on-boarding process. This means that we have projects at differing stages which is good for spreading out community news and team development load.
TVL and Bridge Volume
We have internally been looking at our TVL (Total Value Locked) over the past couple of weeks. This is a measure that many use to evaluate DeFi projects. We will be releasing an in depth look at our figures and what they signify later in the week. However, the headline figure is that we have over $40m TVL which can be broken down in to the following;
Just as previous weeks the bounty of $1,000 is ongoing. If you can connect a project to the Catoshi team and the project then onboards, you will be eligible to receive $1000. We have already seen community members receive bounties. There is no limit to the amount of bounties a person can receive, therefore if you successfully connect 10 projects and they are onboarded you could be eligible for $10,000. Please ask a team member for further details.
And just before I leave you, keep an eye out for a competition we will be launching this week with a very interesting addition to the usual prize, especially for the budding artists amongst you.
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