Dear Geohackers, XY Shareholders and XYO HODL’ers,
If you’ve been keeping up with us lately, you already know that it’s been quite the month for us at XY.
Earlier this month, we went through a major revamp of our strategy.
Our vision remains the same, and that is this:
To create a people-powered geospatial data network. One that is open, decentralized and powered by our community of Geohackers.
A “geospatial data network” is something that provides location data, as well as other data. Things like weather, the proximity between objects, humidity, light, etc.
You may not realize it, but our world today would fall apart if it wasn’t for geospatial data. For instance, driving directions. You use GPS, which provides you geospatial data enabling you to get to your destination.
At XY, we are laser-focused on building technology that overcomes the shortcomings of GPS, and that’s what the XYO Network is.
The problem with GPS is that it is easy to spoof, it costs tax-payers over $2 Million/day, and it’s owned by a single government entity (the U.S. Air Force).
The problems with GPS were recently brought to light in a news story. It outlined the serious risk of Tesla cars being vulnerable to GPS Cyberattacks.
The bottom line is this: we’re not going to get very far if our geospatial infrastructure continues to rely on GPS.
This is an $11 Trillion dollar+ problem. That’s what XYO is solving.
Earlier this month we re-allocated resources. We re-focused our strategy. And we’re laser-focused on our fast-growing app called COIN.
We needed to do this because we weren’t as effective with our resources as we believed we could be. And we owe it to our community to allocate resources in the most effective way to achieve our vision.
COIN has been a smash-hit with our community of Geohackers. And COIN’s growth doesn’t look to be slowing down anytime soon.
COIN is an iOS and Android app that interacts with XYO Geomining Devices and incentivizes users to report their location-based data for an exchange of XYO. It increases the number of Edge Nodes that will collect and transport cryptographically validated geospatial data to the XYO Network, where the data will be available for querying (which has all types of use-cases).
Think about the use-cases of GPS alone!
Creating a vast supply of cryptographically valid geospatial data is key to creating a people-powered network. One that will overcome the shortcomings of GPS.
Our focus centers on growing the number of COIN Daily Active Users.
What came first, the chicken or egg?
Like most revolutionary technologies, the hard part centers on overcoming the so-called “Chicken and Egg Problem”.
Chicken and Egg Problems occur whenever the value proposition of two separate groups is dependent on the other.
An example is an auction site like eBay. The amount of demand from the buyers is what attracts the supply of products being sold by the sellers.
How do you make both groups happy in the beginning when there is no supply because of no demand?
Sure, geospatial data is valuable, and there will be use-cases where there is a demand for that data. But how does one create the supply first, without there being demand?
That’s the problem COIN is solving.
Growing COIN’s Daily Active User count increases the supply of cryptographically-backed geospatial data in the XYO Network. This then opens up the door for demand of that data(i.e. Enterprises paying for that geospatial data, E-Commerce companies, Shipping & Logistics Companies, and more).
The key, and the hardest part is creating the supply. And creating supply means acquiring Daily Active Users.
Fortunately, that’s what our team is good at. ;)
Today, I would like to provide you with an update on how we’re doing on this front.
Here’s a pretty picture that will give you a glimpse:
Now, let’s look at the stats above a bit closer.
First, COIN’s Organic Daily Active User Count is Growing by 1,000 People Per Day (Emphasis on ORGANIC!)
We have been only testing our advertising campaigns so far. We have not even advertised COIN using App Advertising Campaigns.
We’ve recently started promoting the SentinelX Geomining Hardware Device. And you’ve probably seen our ads. They’re the classy, and tasteful ones that won’t grab your attention ;)
I expect our Daily Active Users to sky-rocket once we begin our App Advertising Campaigns.
Second, we hit a Daily Active User Count on June 19th of 18,091. This is an All-time High for us.
COIN has been installed by over 60,000 users since launching on February 6, 2019.
This is all fine and good, but here’s the metric that is just insane:
Average Daily Screen Time in COIN is 3.5 Hours Per User Per Day
This has become the alternative to turning your phone off and we’re fairly certain COIN’s Avg. Daily Screen Time falls within the Top 10 Apps in The World on this metric.
Recently we released a feature that enables our users to Geodrop Crypto Assets (the first being XYO).
We are seeing over 250,000 XYO being Geodropped Per Day by Users!
Recently we released the Sentinel Sharing Feature. This enables you to register your SentinelX device and pass them out to friends.
When your friend uses COIN, you then begin earning 10% on top of whatever crypto assets they collect.
Over 2,000 SentinelX devices have been shared with friends in the first week!
The SentinelX devices have earned a total of 58,290.20 XYO for the initial owners of the SentinelX, who then passed it to their friends.
This means that their friends have earned over a half-million XYO in a week!
People are Now COIN’ing in Over 120 Countries
COIN is being used in over 120 countries in the world (there are a total of 195 Countries in The World)
COIN Retention Rate
30-day Geohacker Retention Rate is 20–30%, while the industry average for mobile apps is 7.5% (Source: Appcues)
COIN Plus and COIN Pro
This week we launched two new products: Plus and Pro. These are monthly subscription products (Learn more here: https://coinapp.co/plans/)
We now have over 1,200 active Plus and Pro Geohackers!
Recently at XY, we hired an amazing Customer Support team member named Vicky.
Vicky lives abroad and has family that lives in New York.
Unfortunately, Vicky’s grandmother passed away recently. Vicky flew to New York for the funeral. While there she re-connected with her aunt who is the Head Nurse at a reputable hospital in New York.
While catching up, Vicky’s Aunt asked her the usual questions. i.e. How’s life? How’s work? Etc.
Vicky mentioned that she started working at a new company called XY.
Vicky’s Aunt asked, “That sounds familiar. What do they do?”
Vicky replied, “We’re building an exciting geospatial technology called XYO.”
Vicky’s Aunt stopped her in her tracks and replied, “Wait, you mean XYO, the technology powering the SentinelX devices and COIN?!” I just got one, and our entire nursing staff is obsessed with it!”
Vicky’s Aunt exclaimed that almost her entire nursing staff is now bragging non-stop about Geomining! “It’s spreading like crazy over here!”
This story gives you a glimpse into how pervasive XYO is becoming.
What we’re building is no longer a dream.
It’s no longer an idea.
XYO is becoming a reality.
And the best part is, we’re doing it together!
Our community of Geohackers.
COIN is progressing and in my opinion, our team is not even firing on all cylinders yet.
We’ve created one of the most used apps by Daily Active User Screen Time. And we intend to release more features that will continue to grow our movement.
We have many exciting features coming to COIN soon. And it’s super hard for me to not tell you about them or even hint at them! And I won’t.
I’m not going to reveal any details yet. But don’t worry, it’ll be worth the wait.
Stay tuned and keep COIN’ing!
Your fellow Geohacker,
Co-founder of XYO