Connect Financial 2021 Q1 Update
This quarter definitely flew by and we’re looking forward to our Q2 road map and deliverables. And if you’re wondering what those are just keep reading and let’s start digging in!
Connect Financial was effectively released to the public in this quarter and we’ve been extremely happy with the progress and growth of the community. We continue to prepare our support staff and websites for our impending product release and are ready to see our communities continue to grow. I want to take a quick second and thank all our Community Moderators for the work they do. Over Q1 we’ve seen our average consistent token holders grow to over 800
Most recently we released our staking contract and portal to the world, and within a week we now have over 10 million CNFI staked, which is nearly 50% of our circulating supply. This is exceeding our initial goals and shows a strong commitment from our community for our long term prospects.
We continue to develop our relationship with our initial Centralized Exchange partner Ascendex (previously Bitmax) and are working with them to further our exposure into the APAC markets where they have a large client base.
On our corporate side we ended the first quarter with the onboarding of our new Head of Corporate Strategy and Chief Financial Officer, who officially starts on April 1st. We were also able to expand our international banking portfolio with the addition of several banks in key jurisdictions to better support our clients.
Also joining the team is our Chief Marketing Officer. She has already started diving in and we have laid out a full detailed plan for an upgrade to our landing platform. Her vision and initial task is to take the single page and turn it into a multi-page product site with much more thorough content and write ups of the products and offerings.
Looking forward into Q2
Now looking into our second quarter here is what we have upcoming -
Initial Client Portal Release -
Our initial Client Portal release is getting finalized and being ran through final QA and prepared for production deployment. This release will have many features that are completed turned off and inaccessible until we are closer to cards being issued.
After registration, users will be able to sign up for the card wait list. Signing up will influence when you receive your card based on availability from the factory as we receive our shipments from them.
Also on the Client Portal at initial release is the Referral and Affiliate system. Users will receive a Referral link they can share with their friends and family, which will earn you both a reward after your referral achieves a certain threshold of usage. If you are an influencer or site owner you’ll be able to apply for the Affiliate program, which gives the same initial bonus but also allows for a persistent bonus on their referrals monthly usage.
We are targeting Mid April for the public roll out of the Client Portal.
Development has begun on the CNFI Farm Pool, a smart contract custodian of staked CNFI, responsible for maintaining a reserve of the base asset, while putting the capital to work so it can yield at a competitive rate based on the performance of DeFi at large. We leverage major farming strategies available now while also producing yield from interest paid to the CNFI protocol, generated from a combination of cardholder activity as well as an on-chain borrowing system, giving CNFI a unique edge as a major player in the domain of yield generating assets.
Users who are staking will start to receive pCNFI daily when we release the full protocol/Farm Pool. pCNFI is issued and named after each quarter (I.E. pCNFI1 is 2021 Q1). Users will be able to exchange their pCNFI tokens for a proportional amount of the Treasuries net gain for that quarter. This feature will be available during the first two weeks following a quarter, after which unclaimed values will be released back to the protocol for leveraging and users will start to gain compounding interest on their funds. Users will be able to withdraw previous quarters (with any interest) during the two week period at the beginning of every new quarter.
Simultaneously, the CND (Connect Financial DAO) framework has begun phase 1 of development, where CND token holders can vote on arbitrary proposals to be executed, permissioned to administer or even upgrade any component of the CNFI ecosystem. We will release more information in the next two weeks about the launch of CND.
This second quarter will be an exciting time for Connect, as we plan on having all of our core products firmly released to the public. You can expect more detailed updates coming on each of these pieces we’ve discussed as we prepare to launch them.
Thank you all for being part of our community and we look forward to seeing you use your Connect Cards in the wild.
Join our growing community!
Discord : https://discord.gg/GYeWZ5uE4P
Telegram: https://t.me/connectfinancial
Telegram Announcements: https://t.me/connectfinancialnews
Twitter: https://twitter.com/ConnectWallet
YouTube: https://www.youtube.com/channel/UCfKkFD8FwnRvoxdOODTz_Ug
Official Website: https://www.connect.financial/
Staking: https://token.connect.financial/
Client Portal: https://client.connect.financial/
