It has been a long time since we did one of these progress & overview updates, but we think it is high time to give a deeper overview of the past 6+ months since automation went live to highlight what we have accomplished and are still working on. First and foremost, we would like to thank every one of our supporters, and our amazing community. It has been you guys that have really been the ones driving this project, while we work tirelessly in the background day in and day out to continue to try and bring you the best crypto e-commerce platform in the world. So without further ado, lets jump in.
Automation officially went live December 23, 2021. This was the biggest hurdle we have had to overcome since launch, since before automation, the team was processing all orders manually and it could take up to 24 hours for a giftcard to be processed. This, we understand, was not an acceptable way to run an e-commerce platform, as the whole beauty of crypto and mobile payment systems is to have instant, or at least near-instant, access to the products you want. After the completion of this process we were finally able to devote the time and resources needed to really start branching out into the crypto space, so lets look at a brief timeline of events since then.
As a new year started, work had just begun in trying to position CryptoCart in the best possible place for when the market did return. Meme coins where exploding, and there was a huge buzz around these up and coming huge communities which we capitalized on. In January 2022 we partnered up with both Kiba Inu and Volt Inu to help raise awareness of our platform. Not only that, but we brokered a partnership with our good friends over at MetisDAO to not only accept their tokens on Ethereum and Binance Smart Chain, but to integrate their native chain, Andromeda, into our payment processing system so we would be able to accept payments for users wanting to spend METIS and alts on their native chain. We also launched LP staking on the Binance Smart Chain where our community members shared 15,000 CCV2 tokens over a 6 month period dependant on their stake size. This was a massive success seeing the community come together and provide liquidity on the Binance Smart Chain whilst earning tokens for doing so.
February brought with it some hard times as the market started taking a turn for the worse. Despite this downturn into what many people have been calling the new bear market, we here at CryptoCart kept our heads down and our noses to the grindstone to keep working and building. We obtained a new partnership with Lossless to help improve security and awareness. We also started work on the development of our own whitelabel stores, which would allow potential partners to have an exclusive store in their branding accepting only CryptoCart and their token as payment options for the site, while still offering the complete selection of giftcards you all have come to know and love. At face value, people did not really understand why we would build these applications and the benefit the CryptoCart community would see. The way we look at it is very similar to franchising, where our holders see the benefit.
With all volume through our platforms, whether that is in another coin, or on a whitelabel store, more revenue is earned through our commision at no cost to the customer which is used to fund the CryptoCart Vault; directly purchasing tokens from the open market and moving them out of circulation. The idea for whitelabels is to open up a few of them to start with for our key partners in the near future to not only add utility to their own token and them having their own platform, but to directly help funding of our CryptoCart Vault for our holders. The first mock up of an example we made for our partners over at Floki Inu can be found here:
March was a time for major onboarding of partnerships while we continued our work on development of the platform and broadening the scope of our project. In March we announced partnerships with Marshall Rogan Inu, Bobatama, Heal The World, and Robo Inu. Alongside our new partners, we was also pleased to announce we had went live on our first exchange; DigiFinex. With the crisis going on with Ukraine, we focussed heavily on broading our catalog to provide any type of support / aid we could expanding our range in Poland, Hungry and Slovakia where a lot of people have fled to being Ukraine’s neighbouring countries. As a team we matched every order from our own funds for any necessities for our Ukrainian customers.
April was a lot quieter whilst we focussed on completing ongoing developments, seeing only one partnership with Qatar 2022. After a few months of work, we was pleased to launch the Andromeda chain with some co-marketing with our partners in MetisDAO. With this development, we developed the foundation to making onboarding additional EVM chains more easy.
May was the time for the fruits of our labours to come forth. A major announcement in the form of a complete overhaul of the giftcard store!. With new and improved UI and UX updates, as well as the geolocation plugin to make navigating the giftcard site smoother and easier for the user. Now when browsing all giftcards, the user will see only giftcards available from the country they are in!. We also managed to secure our first partnership with our good friends over at Peak Finance on the Andromeda chain. We also announced partnerships with Gafa, Squisiverse, and CultDAO along with our first cross token giveaway event. Now, partnered tokens are able to host a giveaway event for their communities using the CryptoCart platform and get rewarded for spending their favourite token on real world goods. Thats not all, during the back-end of May we also opened up our staking pool for a second time for a 6 month duration; with a total of 30,000 CCV2 tokens being emitted.
June was flush with more major development updates as we announced our intentions to create a mobile app for users. This was on our original roadmap when we launched back in April 2021 and now was finally the time we had news to share with the community about it. We also improved our giftcard store further by moving it to an entirely new commerce system. This combined with the roadmap related announcement to expand our catalogue to over 5000 giftcards available by working with, and onboarding multiple suppliers so that we can aim to always have stock available for any user purchase at any time. We also brought out an announcement that we know the community has been waiting for for a long, long time. An update about how the tiered discount system will work. While we are still in the process of completing the development of this system, we are now closer than ever with the development of a dedicated rewards pool to disburse the discounted tokens to users who qualify for individual tiers! Check out the full development update on our medium page here:
July & August
July and August were also months where we have been working hard, but despite that we have been able to onboard more partnerships and bring more communities into the CryptoCart ecosystem. We welcome our new partners Netswap (on Andromeda), Banana Task Force, Messier, Luffy, Parex, and most recently Mogul Productions. Alongside the ecosystem expanding, we went live with our second vendor massively helping our catalog of gift-cards offered taking the total up to over 2500 from 1600. This includes some very popular and requested vendors such as AirBNB, Lastminute, Ikea, Zalando and a lot more. But that’s not all, the complete launch of Polygon Network went live. Users where now able to shop using the Polygon chain using the following tokens: MATIC, USDT, USDC, DAI, WETH & WMATIC. This marked the second chain addition we have branched out too this year, leaving only 1 left to branch out to as per our roadmap.
And what better to finalize on than our CryptoCart Vault?.
Since our previous buyback, below is some store analytics the community may find very interesting, alongside some information about how this has positively impacted your holdings:
Total revenue since last buyback — $461,169.35
Total orders since last buyback — 1,653
Items sold since last buyback — 2,823
Most popular category — Fashion & Lifestyle
Average commission earned across entire store — 1.4%
Buyback amount — $6,500.00
Moved out of circulation into the CC Vault — https://etherscan.io/tx/0xa578f7c853bc259791465f7f91ca04f2d11cbf389ce29e3b2a079840c3282681
In summary, despite the market conditions, despite the nay-sayers, despite everything we have been through over the past year and a half since launch, we here at CryptoCart have been tirelessly working to deliver on the promises we made to our community. Adherence to our roadmap and taking in new suggestions from our community combined with continual efforts to onboard more and more tokens is large order for any team, especially one as small as ours. We take great pleasure in being able to make these announcements month after month. We love being able to be constantly developing, showing our progress to our community, and maintaining the transparency you have all come to know, expect from us, and rely upon for this project. We would once again like to thank our community, our partner communities, our mods, and all our supporters. Without you all, we would be nothing, and we will never forget how important you all are to us.
Leon, Felix, and MoonPig