April community call and monthly roundup
April was a fantastic month for the Witnet protocol and community. Let’s quickly review for those who missed our community call on May 1st.
Introduction
May is going to be a huge month too, as you will soon learn from this roundup but April was a prepper for that. Prior to the community call, we talked about a few massive announcements coming in May that we are ultra excited for.
If you would like to watch the community call, the recording is up on our YouTube.
We are planning multiple announcement calls this month so that we can fully detail everything coming in the pipeline, and make it crystal clear what is going to happen. Buckle up.
Witnet’s total value secured
In the month of April, the Witnet TVS (total value secured) numbers ballooned to over $360,000,000. This is a metric that is unique to oracles that represents how much of a protocol’s value that is locked is being secured by an oracle.
At the time of this writing, Witnet’s TVS is around $250,000,000, as liquidity pools take hits from cryptocurrency market volatility. At thsi moment in time, Witnet is the 8th largest oracle by TVS, and around the 3rd generalistic oracle by TVS (excluding oracles like WinkLink, MakerDAO, Internal, etc.).
Because of this incredible value secured growth in April, Witnet was able to surpass Band Protocol on the 18th by securing more than $13 million.
The light wallet naming contest
Over a week ago we asked the community to submit names to help us name the new light wallet that is coming in a very short time. The winner submitted the name MyWitWallet.
With over 264 submissions, we’re very happy with this name from whoever chose it. The winner who chose MyWitWallet was paid 20,000 $WIT for their submission and hard work. You can view the transaction here.
Newly added chains
In the month of April we added support for a testnet and a mainnet. If you have been following our announcements, we recently launched on Polygon zkEVM testnet, one of the first oracles to do so. We also launched on Elastos mainnet.
Both these networks are exciting chains that gather some or all of their security from a different base layer. In Polygon zkEVM’s case it is Ethereum and Elastos is merge-mining with Bitcoin.
On the zkEVM we already have one use-case that we hope to go live shortly.
Elastos is moving much quicker with ELA, BTC, USDC, BUSD, ETH, HT, and BNB to USD pairs going live on mainnet soon.
Funded grants
The total amount that the Witnet Foundation has agreed to fund for projects, or has funded, comes to $41,032.60. Around 60% of this amount has already been funded with the other percentage being funded into the future, on a milestone basis.
Two of our grant recipients have gone live in the month of April, or will go live in early May.
PocketDemons is a trading card NFT game that is similar to Pokemon or Yu-Gi-Oh that allows two players to enter a dual against each other. The cards they have are based on the PockedDemons NFT pack, a collection of 666 unique cards that gathers its rarity based on its dualing traits (set by the Witnet randomness oracle).
CroDraw is the first charity focused lottery game on Cronos that allows users to purchase tickets into a drawing where winners will earn a set percentage of the pot, and 15% of the total ticket purchases will go to the Hearts of Gold initiative that focuses on battling men’s mental health in the web3 world, a very noble cause indeed.
Upcoming protocols
Because Witnet is a permissionless network, anyone can tap into it. This is great for adoption and security of protocols but can cause headaches on our side when we are trying to track down those protocols.
However, in the month of April we were made aware of a few protocols using Witnet that we can expect to get listed on our TVS metrics on DeFiLlama. These protocols are UltronSwap, Annex Finance, and Filda.
Filda, coincidentally is using Witnet on Kava and on our new Elastos integration. They even asked for a few more feeds to go live on Kava, along with the feeds we’re launching on Elastos for them (listed under the chain integrations section).
Witnet’s growth
Growth statistics are incredibly important to a smaller community like Witnet because it can really show how people are finding Witnet, how we can harness the excitement, and how we can best move forward.
April was one of our best month’s for the community’s growth. We had over 85 new Discord members join, bringing the total to about 1,420. Telegram was about the same, with 100 members joining and a new total of 1,501. Twitter was a fantastic month as we saw 1,021 new followers learning about Witnet, oracles, and why Witnet is different.
Twitter will continue to play a very important role in our growth. An engaged community is a very important factor for growth with listings and protocol partnerships, please continue to engage, anon! Here are some easy ways to do so:
- Use “Real DeFi is built on Witnet”.
- Use the $WIT tag.
- Use #Witnet.
- Say GM in our Discord and Telegram.
- Join our community call monthly.
$WIT coin metrics
Price and value of the $WIT coin isn’t always a good measure of how well the protocol is being valued. It of course is helpful, but since the $WIT coin is still very nascent and has a smaller community than other coins, we like to look at volume to see how it’s being traded by community members, traders, miners, etc.
The $WIT coin performed exceptionally well in average daily volume from March to April, seeing a 90.16% increase in volume. Trading is up to $266,000 from $139,000 in average daily volume.
The $WIT coin is consistently trading around 200 to 300 thousand on a daily basis at this point.
A sneak peak at the light wallet
Here are a bunch of pictures navigating the light wallet that is set to be released in the month of May. Please remember that the wallet name does not reflect the new MyWitWallet logos or branding yet, but will when it is released.
Huge announcements for May
I don’t typically use first person for our blog posts, but for these announcements I wanted to detail just how important they are.
These are things happening to Witnet that are so exciting to myself personally, as the community manager. These announcements will be released throughout May, and they are so important that I have decided to do a community call that will specifically detail each point. I am so excited for the community and I recognize how important this will be to each and every one of you Witnet community members.
These are essentially “announcements of the announcements” ™️. The reason we are releasing these announcements slowly is so that we can have everything detailed, organized, and ready for any and all questions you may have. I can assure you, reader, that you will be exhilarated and impacted by these positive developments.
Here are some points I can mention:
- There will be a new exchange listing in May.
- The light wallet will be released.
- There will be massive protocol enhancement announcements. By the end of May, everything will begin changing and look different.
- Roadmap, roadmap, roadmap. By the end of May, we will have a detailed roadmap that will showcase our plans for the upcoming months, quarters, and years.
May is going to be a huge month. Make sure you join our community via the links below.
