Mobie Network
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Mobie Network

Mobie Quarterly Update- Q2

Happy Q3 from the Mobie Team. As you are all aware, the second quarter has been filled with both fantastic milestones and some important headwinds that are making the organization more robust and better positioned to head into the back half of 2021 and get ready for a monumental finish.

Here are some of the amazing things we achieved in Q2

  • Launching the Bridge and Reverse Bridge!
  • Launching the new Mobie.io website
  • Launching our Staking Program
  • Launching the Binance Smart Chain Bridge
  • Launching a new UI/UX interface for the bridge, combining both BSC and ETH wrapped asset bridging into a singular interface
  • Announcing new retail partners: Our network of beta retail partners has expanded to include Landry’s Restaurants, Gap, Sephora, Krispy Kreme, Jamba Juice, Pete’s Coffee, and more. We are so proud that our users will be able to pay with Mobie at these locations during the beta testing phase of our retail program and earn rewards for spending at these locations.
  • Launching our Waitlist Competition

Q2 has also marked the start of a series of internal compliance audits and security audits to ensure that our token structure and programs are optimally set up for the future. Although this caused frustration, as it has delayed Q2 goals, it also marks a critically important step in our growth.

“Compliance has to be at the core of everything we are doing at Mobie. MobieCoin is such an integral part of the ecosystem, and we see it playing a huge role in how our company operates in the future. We need to ensure that the ecosystem that we build around MobieCoin and the Mobie App is built in the most compliant way possible to ensure the organization’s long-term health and the token. I know that so many people are anxious to speed things up and believe me, I am too, but we must take our time here and do this right.”

- Brandon Burgason, CEO and Founder

The Compliance Audit & The Impacts

Our compliance process has constricted our abilities to launch certain milestones that we initially expected to roll out in the second quarter, such as the affiliate and ambassador program, centralized exchange listings, the in-app currency exchange, and new coin integrations. Although these things have been developed and agreements have been reached, we cannot release anything until the compliance audit has concluded.

MobieCoin is the heart of so many of these programs, and without a full clearance for the vision for how MBX integrates into each facet of these announcements, we have been forced to limit what we can roll out and disclose.

The Bright Side of The Audit

Aside from the apparent upsides of being highly compliant (project longevity, token health, ecosystem health, regulatory favorability, etc.), the re-shuffling of our priorities has allowed us to deliver more than we expected in the beta test of the Mobie App.

  • Beta Retailers at Roll Out! Originally expected to be included in v3 or v4 of the public beta, we are now starting to test the full beta retailer integrations within the private beta version of the app (as briefly demonstrated in our last AMA). This means that you will have even more app functionality right from day one!
  • Improved Bridges: We were able to push development resources to focus on the BSC bridge, bring that out ahead of schedule, and make UI/UX modifications to integrate all of the MobieBridge functionality into a single user interface that will live within MobieSwap.
  • Tokenized Community: Previously planned for a mid to late q3 launch, our staging environment is complete to launch the Mobie Tokenized community. We are currently waiting to understand if we can launch this publicly before the compliance audit completion; however, the tiers are finalized, the rooms are set up, and we are ready to hit the ground running.

Transparent and Flexible Goals

We are committed to the health and longevity of Mobie. Therefore, we will not rush anything to market that is not 100% ready for mass adoption. We are taking a more flexible approach to our roadmap moving forward so that the community at large can understand on an ongoing basis how the daily changes in our organization build up and impact the longer-term goals that we have publicly set up.

To this end, we will now be structuring our monthly AMAs and a three-part discussion rather than the current two-part format.

This new format will include project update, roadmap update (new), followed by your questions!

Get registered for next week’s July AMA here!

Conclusion

We are incredibly grateful for the continued loyalty, support, and trust that our community has in the team here at Mobie. We truly could not be doing this without you. We are dedicated one hundred percent to bringing the best possible product to market and know that you support us in that goal.

As always, if you have any questions, please reach out to support@mobie.io. You can also channel any company update-related questions in the July AMA registration form.

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We build mainstream products with blockchain by bridging the gap between technology and the user experience.

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We build mainstream products with blockchain by bridging the gap between technology and the user experience.

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