Current Media — July’s New Records & Major Achievements, Product Progress, Smartphone Specs & $CRNC Token update

Hey Everyone! 👋

It’s been an exciting summer here at Current. Since the beginning of the year, we have carried tremendous momentum month over month in large part due to the agility of our amazing team. We are planning faster, making decisions faster, delivering features faster, and most importantly, achieving results faster. The product continues to improve with every new release and the results are evident across all metrics throughout July.

New Records & Major Achievements for July 2020

• Doubled Revenue over June
• The highest single day of revenue
• Higher revenue than all of Q2 2020 🚀
• Highest Daily Active Users — Over 125,000 DAU
• Highest average Daily Active Users
• Mode Phone spec upgrades for launch device
• Mode Phone website design completion
• Leveraged multiple new content monetization partnerships
• Surpassed 250,000 Reviews on Google Play

Product & Revenue Progress

In July, our product team launched 4 separate major releases — v1.43, v1.44, v1.45, and v1.46. Development work on v1.47 started at the end of July but is planned to be released very soon. We’ve seen the results of these releases, but let’s take a quick look at what caused the improvements seen in July and what’s coming throughout August.

Launched in July

Engagement Team

• Goal Setting feature: giving users a clear redemption goal to work towards, displaying progress in-app
• A/B tested a new Invite Friends offer resulting in a +15% increase in accepted invites
• A/B tested a new way to display music in the app: saw a +5% increase to new user activation

Revenue Team

• Lockscreen feature updates: Expanded our feature set of server-side configurable mediation capabilities which should increase eCPMs and fill percentages across the lockscreen, and ultimately drive higher revenue.
• Integrated new ad networks: We are adding new ad supply through lightweight partnerships with new ad networks that have already increased our ad supply and revenue over 25%.
• Ad network SDK maintenance: We have updated or removed ad network SDKs to improve the performance of serving ads or offerwall opportunities.

Upcoming in August

Engagement Team

• Earn screen redesign: giving users a reimagined way to earn in the app with a huge UI update
• Daily Goals: motivating users on a daily basis with rewards for reaching short-term milestones
• Sign-up improvements: decreasing sign-up drop off by cleaning up the account confirmation flow

Revenue Team

• Play to Earn Offerwall: This is a new earning opportunity in the application that rewards users through playing games; this feature should drive $20,000-$30,000 in new revenue per month at current numbers, and reward users at a high rate. Launching soon!
• Ad Caching: this feature will allow the application to call and store lockscreen ads so that when users light up their devices, the application can immediately display it, rather than waiting 5 seconds to display the first ad. This should improve lockscreen ad revenue dramatically.
• Introducing incentivized ads to users on the lockscreen and via an in-app offerwall. These ads reward users for interacting with them (clicking, visiting a site, etc.) and generate a high eCPM for Current.

To prepare for the September and October releases, the Engagement team will be conducting in-depth research and testing for larger initiatives like Daily Tasks, Point Milestones, and Achievements. The team is looking to use these features to drive daily engagement and stronger Week 1 retention. Our Revenue Team will be conducting research to uncover new opportunities that further monetize the application.

Mode Phone Progress

In early July, Current committed to the final specs of the device that will launch Mode. The specs in this device are vastly superior to what had originally been planned for as some were initially unavailable. These specs will ensure that Mode is extraordinarily competitive at launch, given we’ll be the first to market such a device at the price point.

The launch device for the Mode phone will come with the following specs:

With Android 10, it includes features such as Smart Reply, Gesture Navigation, Dark Theme, Face ID and improved Security Controls, Privacy Controls, Location Controls, Focus Mode, Family Link, and more. The Mode phone, including all of these features, will be offered at a promotional price of $79 USD; unheard of in a device at this price point. Further, with numerous in-phone earning opportunities, users can reduce the cost of the phone significantly within a short time after turning the phone on for the first time.

In the middle of July, Mode’s customized Android 10 based firmware went through its first round of pre-GMS testing at the manufacturer level. If you remember from our last update, this is the quality assurance stage that ensures the firmware is flawless before being officially submitted to Google Mobile Services (GMS).

(Google Mobile Services are the apps by Google that often come pre-installed on Android devices. GMS is not a part of the Android Open Source Project, which means an Android manufacturer needs to obtain a license from Google in order to legally pre-install GMS on an Android device.)

With minimal feedback provided after our first round of pre-GMS testing, we are confident that our engineers will be able to address the final requirements ahead of the final round. In the coming weeks, once pre-GMS approved, the final firmware will be loaded on production-ready devices for internal use and we will submit the final firmware for the official GMS certification.

Pre-sales are planned to begin in the latter part of Q3, with first shipments to consumers in early Q4. Official launch dates will be announced soon.

$CRNC Token Update & Security Token Industry Progress

With everything moving forward on schedule with the launch of the Mode Phone, later this month, Current will be sharing final details around $CRNC’s token economics and unlock plan. This includes how the token buyback mechanism works, the specific features within the ecosystem and smartphone that support the dividend/royalty pool, the competitive percentage of revenues agreed upon by stakeholders to pay out as dividend/royalties, as well as our end of summer unlock and listing strategy, and near term initiatives.

Towards the end of August, we plan to migrate investors to Securitize’s new KYC platform, called Securitize ID. There are many benefits with this new platform, from one-click login’s across their partners — more important as new secondary markets become available so there’s no need to KYC again to gain access. Additionally, the KYC experience is much improved over the existing system, including improved customer support, and most importantly more control over your information as a registrant. This allows the ability to update information faster as it changes over time and ensures your records are compliant on an ongoing basis. Token holders and registrants will receive more information when the migration is ready to take place. For details on the feature, you can learn more here via Securitize.

As a whole, it appears the security token industry has been waking up over the last few months. Secondary markets continue to make progress, albeit slowly, however, there have been a few promising developments:

• A relative newcomer, Gibraltar-based cryptocurrency and security token exchange, INX, announced a revised plan to IPO with a max cap at $117M. Originally slated for Q2 2020, multiple reports suggest the sale to commence before the end of the year with the launch of their exchange expected sometime in 2021.
• tZERO’s Alternative Trading System (ATS) has been making waves, having reported hundreds of thousands in monthly volume and growing rapidly. Most recently, tZERO announced a plan to list ASPEN, a Securitize partner, and represents indirect ownership in the St. Regis Aspen Resort — a five-star, 179-room hotel situated in Colorado. However, they remain unlisted at this time without reports of when that might occurs as they continue to gain clearance from the SEC.
• Overstock’s OSTKO Security Token, listed on tZERO, increased its market cap by 193% to over 251M in July and an astonishing 423% since the beginning of June. Their volumes have exploded in comparison to other security tokens, averaging nearly a quarter of a million dollars per day, and hit as high as three-quarters of a million dollars; all in part to their ability to create sustainable profitable growth through their product and pass it back to token holders through their profit-sharing mechanics.
• Republic, the largest private investment platform, recently sold out after receiving $16M in commitments for their Republic Note profit-sharing security token. It’s companies and projects like these that are paving the way for the entire industry and drawing excitement from investors. Openfinance has been relatively quiet over the last few months in regards to their previously announced pending acquisition as no new details have been made public.

We expect to see continued progress, and maybe a few surprises before the end of the year, however, there is no doubt that there will be major movements across security token industry participants within the next 6 months. As we learn more, we will continually evaluate each new opportunity as these secondary markets receive proper licenses to trade security tokens. 🚀

Future AMA’s

It’s been a while since our last AMA! We enjoy the format as it allows us to focus on your questions directly. If anyone has a question they’d like to have answered, drop your questions here!

How to Get Involved

• Chat with us on Twitter!
• Add Questions here for an upcoming AMA.
• Have someone in mind that you think is a perfect fit for one of our open positions? Send them a link to our job board. As a reminder, we pay a referral fee for any employee we hire!

If you ever need to reach out to our investor relations, or leadership team, please feel free to email info@current.us, and we assure you that we will respond in a timely fashion. Please keep an eye on our Telegram Announcement channel or Medium for all future updates. If you’d like to ask a question specifically for one of our upcoming AMAs, drop a question in our Google Form that we’ll use for all future AMA’s.

[PLEASE READ] Important legal disclaimer: No money or other consideration is being solicited by this communique, and if sent in response will not be accepted. Our discussion may contain forward-looking statements that are based on our beliefs and assumptions and on information currently available to management. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “is designed to,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

These statements involve risks, uncertainties, assumptions, and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each such forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Forward-looking statements include, but are not limited to, statements about developing and designing the Current network, including the $CRNC token and its future utility; the anticipated development and growth of the Current Network; maintaining and expanding our base of users; our anticipated growth and growth strategies and our ability to effectively manage that growth and effect these strategies; our expectations regarding regulatory developments and their effect on the Current Network, including the ability of applications on our network to develop a user base and a successful business model; and potential future listings on an exchange or ATS. We cannot assure you that the forward-looking statements will prove to be accurate. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We undertake no obligation to update any forward-looking statements publicly, whether as a result of new information, future events or otherwise, except as required by law.