Zignaly in 2022: Challenges & Triumphs

Did the crypto market end 2021 on a high note? Unfortunately not, and 2022 has only confirmed the downward trend. Remember the Solana Breakpoint conference in November 2021? Even my friend’s servers at the party were talking about their crypto investments. Is that a sign that we’ve reached the top? Sadly, it seems so. Bitcoin hit an all-time high of $69,000 just three days after the conference but then quickly plummeted to $60,000 in a week, $42,000 in four weeks, $35,000 in two months, and $26,000, down to $15,500. Yikes.

Unfortunately, the news in 2022 has been dominated by bad actors in the crypto industry. Companies like Terra, Celsius, Voyager, and FTX, among others, have demonstrated a disturbing blend of greed, lack of governance, arrogance, criminal negligence, flawed business models, and protocol errors, resulting in the loss of over $2 billion, largely through bridge exploits and other protocol glitches. This is a concerning and unacceptable trend that must be addressed to protect the industry’s integrity.

You can bet that 2022 has been a rough year for crypto. Not only have global economic factors like wars, inflation, and rising interest rates made things challenging for financial markets across all asset classes. The decline of tech stocks contributed to an outflow of money from cryptocurrencies, and the internal issues within the industry only exacerbated the situation. It is fair to say that 2022 has been one of the most challenging years in the history of web3.

It is undeniable that 2022 has presented challenges for the crypto industry as a whole, causing a significant setback in the widespread adoption of cryptocurrency. But the good news is that we are still in the early stages of this industry, and there’s plenty of time to course-correct and prevent a repeat of these issues. How can we do this? By establishing self-sustaining governance plans that promote accountability and ensure the integrity of the industry. It’s not easy, but moving forward and achieving mass adoption is necessary. Let’s work together to make it happen!

Despite the challenges we faced in 2022, the fundamentals of the crypto industry are stronger than ever. Key players, from countries to banks and companies, have adopted cryptocurrencies, NFTs have had a successful year, and trading volume and market cap are at all-time highs. The largest exchange has easily navigated through even the toughest FUD, and top stablecoins (not the algorithmic ones) have remained stable. These are all signs that we should be optimistic about the industry’s future. As Vitalik said, the “awful opportunistic money people” have been washed out, leaving only serious, long-term players behind. Let’s use this as an opportunity to build on these positive foundations and create a bright future for all hard-working projects in the industry.

The crypto industry must focus on these three pillars and a clear roadmap to move forward and achieve long-term success:

1. Decentralization: Proper decentralization ensures that no single person can harm the project or community.
2. Transparency: Everyone should be able to see what’s happening (or could happen). Without transparency, there will always be a gap between assets and liabilities.
3. Community: Engaging with and educating the community about the mechanics of the project is crucial, even if not everyone fully understands a smart contract or protocol mechanism.

A look back at 2022: Zignaly’s Journey

As we started the year, we knew tough decisions would be necessary to ensure the long-term success of our project. So, we set some solid foundations and got ready to face any challenges that came our way.

We are a team, not a family.

As we reflect on the past year, we made the difficult choice to let go of some team members who were not a good fit for the job or did not meet our expectations. This aligned with our belief at Zignaly that we are a professional team, not a family.

However, we have also made great strides in bringing on new, talented individuals who are aligned with our vision and mission.

We strengthened our Frontend and Quality Assurance teams, adjusted the Business Development team to focus on new objectives, and are currently transitioning the Customer Support team. For the first time, we’re also building a new Marketing team to help make Zignaly one of the top crypto projects in 2023. Our core team currently stands at 26 people, with additional contractors on board.

Staying Focused and Moving Forward: Zignaly in 2022

With the token’s launch and excitement, we were focused on expanding our user base and giving utility to the ZIG coin through some exciting initiatives:

• Vault: We partnered with various projects and rewarded our loyal ZIG holders with tokens.
• ZIGPad: We shared our knowledge and experience with other projects launching their tokens and promoting them on our platform.
• ZIGBids: This fun and engaging platform allows users to participate in penny auctions and win amazing prizes.

These initiatives allowed us to connect with other projects and communities, growing our network. As we prepare for the launch of PS2, we’ve decided to put the Vault and ZIGPad on hold (due to market conditions and lack of user interest). ZIGBids is still going strong with a dedicated team, over 14k users, and over half a million collected ZIGs. We believe that ZIGBids has huge growth potential and will eventually help us acquire more customers for the core Zignaly product.

Zignaly’s Profit Sharing 2.0: A New Era of Opportunity

Since the fourth quarter of 2022, we’ve been focused on launching our flagship product: Profit Sharing 2.0 (PS 2.0). We’re extremely excited about this next phase for Zignaly, as it represents the culmination of all our efforts since our launch. From a signals platform to a manual trading terminal to a copy-trading service to Profit Sharing, we’ve evolved and improved to get to this point. Profit Sharing 2.0 is our true differentiator.

To stay focused, we decided to cut off our previous rollouts (copy trading and signals) in July 2022. We’re also partnering with other trading platforms to offer their services to our traders while moving our trading terminal to a separate subdomain. Our goal is to make Zignaly the most accessible platform for investors and traders to make money in the crypto space.

As we prepare for the public launch of PS 2.0, we’re discontinuing KuCoin, BitMEX, VCC, Ascendex, and direct Binance API keys on our platform. However, traders will still be able to trade from their preferred platform through PS 2.0, streamlining the onboarding process.

ZIG Coin’s 2022: A Year of Breakthroughs

It is no secret that 2022 has been a tough year for the crypto market, and ZIG has undoubtedly felt the impact. With exchanges hesitant to list new projects and even smart projects delaying listings, the market has been challenging. However, despite this, ZIG was still able to get listed on several exchanges, including Gateio, Huobi Global, Bitget, and a few regional ones. We have also added new utilities for ZIG and have great plans for the future. We continue to remain in touch with the top tier-1 exchanges and hope to see ZIG at more avenues at the right time.

We are grateful to our investors, especially those who have held onto their ZIG and even invested more this year. ZIG is a crucial part of Zignaly, and our product is something that people need even more in bear markets. Any token and crypto project that can survive this bear market will do well in the next bull market, and we have confidence in ZIG’s strong fundamentals and proven team to be there. We remain committed to keeping ZIG at the core of Zignaly.

Exploring the Intersection of ZIGDAO and DeFi on Zignaly

At Zignaly, we believe in decentralization, transparency, and community. In June 2022, we announced our plans to become a DAO and decentralize our protocol. We’re excited to have the StableNode team (formerly of MakerDAO) on board as advisors and investors to help us build our DAO mechanisms.

With the almost launch of PS2, we’re looking forward to starting development on our DeFi version and proposing the first mechanisms of the DAO. It’s important to note that many aspects of our future DeFi version are already covered in PS2.0, so we believe it will be worth the wait!

Peeking into the Future: Zignaly’s Plans for 2023

Get ready for an epic, transformative year with Zignaly in 2023!
The launch of PS2.0 is a crucial step for Zignaly in the coming year. By attracting top traders and investors, we have the potential to increase our revenue and solidify our position as one of the most profitable protocols in the market. Our numbers show that every $1 million in TVL makes us $5k/ month, that is, more TVL means more project revenue and long-term sustainability. The DeFi version will only add to our already strong income streams, making Zignaly a force to be reckoned with in the crypto world.

The launch of PS2 in the first quarter will be a crucial milestone for Zignaly. We’ll be replacing all previous versions of our platform with this new and improved version, which will help us attract top traders and drive investments from the masses. We aim to grow the TVL (total value locked) by targeting professional traders and investors. We’ll also be sharing our plans for the ZigDAO, including its thesis and workings, and seeking feedback from our community. Our ultimate aim is to establish the governance of the DAO, allowing the community and ZIG holders to shape the direction of the protocol and the usage of revenue/profits. Get ready for more updates on this exciting development soon!

As we enter the first quarter of 2023, we will also begin defining the next iteration of our platform, DeFi version PS3. While we have a general idea of what we want it to be, we still need to translate it into technical specifications. Our tech team is top-notch, and we believe it will be a prime differentiator for us in the coming year.

In the meantime, ZIGBids has already gained 14k users in just a few months, primarily focused on NFTs. However, we plan to expand to other products and attract diverse users. We have exciting updates in the works, including gamification, to make the experience even more entertaining. Most importantly, ZIGBids has already collected around 650,000 ZIG in deposits, and that number will continue to grow. For now, we will keep accumulating these ZIGs and let the future DAO determine their fate, whether burning or distribution.

From Reflection to Action: Zignaly’s Plans for the New Year

As we move into the new year, Zignaly is poised for greatness with a focus on growth, the development of our DAO, and the launch of our DeFi platform.

Here’s to the beginning of a new year and all of its endless possibilities. Here’s to a year of growth, progress, and prosperity for Zignaly and the entire crypto community

Happy 2023!