Connect Financial Community Update
Welcome to another community update where we can take the opportunity to pause, catch breath, and reflect on our progress within a tumultuous period for the broader crypto market.
It seems like every day there is a new headline where a new lender, fund or retail business is caught up in controversy, cash flow woes or outright collapse. The team and I spend a lot of time closely looking at all of these events, because — indirectly — they help us to design better products and services.
While the markets are chaotic, we feel that it’s more important than ever to keep up the conversation with the community through these updates, even if it is a short update (which this one is).
On with the update!
Building and growing
The product and development teams are deep in the flow of building a nuanced, complicated product, and are making excellent progress. We are nearing the completion of the core services and are starting to prepare ourselves to transition towards the lengthy and detailed work of testing, hardening and re-testing the product.
Behind the scenes, our commercial teams are continuing to work closely with our partners to prioritize rollout and growth plans for the card products as well as refine the complicated manufacturing and logistics plans.
Chantel and the marketing team are totally occupied in creating a library of advertising and promotional assets and preparing for the go to market release of the product.
As well as continuing to build the product, we’re also growing the team. Each week we are interviewing excellent candidates each week across a range of development, corporate and finance roles.
It’s a busy and sometimes hectic period for the team, but we are remaining 100% focused on delivering an incredible ecosystem of products.
Earn is dead, long live Earn!
One of the things that we have been paying close attention to is the troubles faced by many of the centralized yield providers. Even if these players are able to rebuild their businesses, it seems clear that the trust in ‘black box’ yield products will be far more difficult to rebuild.
We have paused to reconsider our own Earn product and are in the process of redesigning our product so that it better aligns with our core values of transparency, balanced risk & reward and responsible strategies.
We imagine that this will take the form of providing a curated range of transparent strategies that customers can easily participate in. Each strategy will clearly outline potential risks, historic returns and the exact strategy that will be employed, whether it is DeFi, CeFi or a TradFi opportunity.
We’d love to get the community involved in helping us to build out this product by understanding what is important to you with regards to our yield earning products. We’re talking with the community moderators this week to set up some channels and surveys to capture your thoughts.
Look forward to an update on it in Discord or Telegram.
Thank you everyone as always, be safe and be kind out there.