GCS Improvements, Andromeda, EVM Chains, Denominations & Staking Update
Good afternoon all, today we have got a few announcements to make about upcoming developments. Normally we would put them all in our announcement channel which you can stay up to date with here:
So, without further ado.
Gift Card Store improvements
We mentioned previously we were going to do a complete overhaul of the gift card store to improve the UX and UI. Below are some sneak peaks of the improvements which will be going live very shortly:
Alongside the UI improvements, we wanted to make the user experience easier whilst navigating our store. We have installed a plugin to detect where the user is located via IP to filter and display the relevant gift-cards instead of having to filter through the entire range. When the user wants to look at the featured or most trending gift-card they will all be specific to their demographic.
We are also working on some prompting features prior which will be buttons where the user can select the network they want to use to pay and it will switch the users network to the correct chain and display all the relevant payment options.
Andromeda network & other EVM chains.
We have successfully automated the conversion from Andromeda to allow payments on that network. As part of the work, we have built the foundations to allow other EVM chains. Ground work has started on Polygon, Avalanche and Fantom which will be quite quickly rolled out post a successful Andromeda launch. Upon launching the Andromeda chain on our gift-card store, we are going to look to onboard a lot of the Metis ecosystem as payments, alongside some co-marketing efforts with MetisDAO to highlight CryptoCart and our ecosystem. Andromeda testing is completely bug free and ready to be rolled out. This will be launched post our UX & UI improvements to give new potential members the best possible experience.
We mentioned a few days back we were going to look to raise some of the max denominations per voucher which we have been working on with our API partner throughout the week. We have successfully managed to increase the maximum denomination for 794 cards which are currently being updated on our store. Over the coming weeks, we are going to look to increase the denominations for the most purchased gift cards, and grow our range even further. For information on which cards have been raised, you can view our PDF shared here:
As many of you are aware, our CCV2 staking pool on the Ethereum Chain is coming to an end. The duration of the pool was for 6 months, which is set to stop releasing rewards on 12th May 2022. Below is some important information about the staking pool:
- On the 12th of May 2022, the staking pool will stop emitting rewards, and the APR will drop to 0%.
2. If your tokens are staked, you do not need to rush to unstake them before this date, you will just not receive rewards once it has closed.
3. There is a mandatory unstake fee of 2% which is moved into the CryptoCart Vault, and these tokens are removed from circulation. As previously mentioned, community members that have been supporting the project and locked their tokens away will not need to take on this fee. Due to the contract not allowing us to whitelist addresses from the unstaking fee, we will be releasing a form which will be put in our Telegram announcement channel within the next few days for members to fill out.
You will ONLY be eligible to fill the form out for a fee reimbursement if you have staked your tokens for more than 4 months. (Staked prior to 12th Jan 2022, withdrawn no earlier than 5th May 2022). This fee will be reimbursed straight back from the CryptoCart Vault where the original fee was sent.
And on a final note, we wanted to thank the community once again for the incredible support shown daily. Without each and everyone of your thoughts, suggestions and improvements, none of this would have been possible.