Connect Financial Community Update

Good day everyone and welcome to another community update for Connect Financial.

We hope all of you continue to remain safe and sane in this crazy market.

Introducing Reward Points

Over the last few months, crypto news has been dominated by eye-watering market cap drawdowns and the spectacular implosions of some of the industry’s biggest players. Some of the news that might have been easier to miss is the reduction of card benefits from some of our competitors. In early May, one major competitor reduced their card rewards across the board, and just this week it is rumored that another large crypto card provider is removing their rewards completely.

While we keep a close eye on what our competitors are doing, it hasn’t stopped us building what we aim to be the industry’s leading rewards and lifestyle brand. While we’re continuing to work on some of the finer details, I want to give you a peek at the improved Points Based Rewards system.

The first thing you’ll notice being updated across our sites is that Cash Back will be replaced with Reward Points. As a whole we feel that reward points offers us the capacity to expand the program quite dramatically, allowing points accrual and spend in an absurd amount of ways.

Whenever you use your card, make swaps or buy crypto on the Connect platform, you’ll be eligible to earn Reward Points. While you will still be able to redeem them for cash, Reward Points will offer you far more flexibility and value. With Reward Points, you will be able to:

1. Convert your points to your favorite Crypto
2. Use points towards a payment on your card
3. Convert your points to cold hard Cash
4. Buy a range of products, gift cards and subscriptions on our retail marketplace
5. Access exclusive offers from our partners

The amount of points that you accrue will be based on your membership tier, with higher tiers earning significantly more points on everyday transactions.

In addition, our program will allow us to offer Point Multipliers on certain transactions or purchases made from particular merchants. This is just a glimpse at the evolving program. As with all of our products, we will be building out the Reward Point progress over time and adding more functionality as we understand how you and other customers use the platform, and what gets you excited in a rewards program.

Tokenomics Update and Preparations

As we inch closer to launch there is some maintenance that is necessary on our token supply.

First off, we have had our excess token supply locked on Team.Finance, and while all of the locks have expired we have not touched these supplies. In the meantime, Team.Finance has updated their contracts which now means we have to withdraw all of the tokens from the current contract, and deposit them into the new contract.

But before doing that, we have to update Coingecko and CoinMarketCap with the new contract address for Team.Finance so these tokens will not be counted towards our circulating supply.

When we move the tokens we will be re-locking the 10 million CNFI team token allotment for another 12 months. These tokens are part of our ESOP (Employee Stock Option Plan) that qualified team members are part of. But unlock the stock options, the tokens will be drawn out and paid over a prior publicly announced period when we get past this next 12 month lock.

There will also be a second announced vault that a portion of the CNFI will be stored in. This will not count towards our circulating supply either, but this will be CNFI that is available for the platform to sell to new users during the membership process. This ensures that there will be readily available liquidity for users to get the membership level they want.

We currently have 83,500,000 CNFI locked that is marked for various disbursements from our original allocations. Out of that total, we will be using 50 million for sale on the platform. This does not increase our Circulating supply immediately, but gives us the chance to introduce them into the ecosystem in a controlled manner. From the sale of the tokens on the platform we will divide that revenue into market buying CNFI to offset the new coins in circulation, and providing a deepened liquidity on Uniswap and our Exchange partners.

Also over the next few days you will also see some changes in our liquidity strategies on Uniswap. We will be adding more CNFI liquidity to Uniswap by utilizing range orders to have more CNFI available at different price bands. This will probably trigger some bots announcing the removal of some liquidity temporarily as we spread it back out over different bands allowing us to have more CNFI available for sale on Uniswap.

On a closing note, we will be releasing our internal initial release candidate at the end of month. This does not set a time frame for our release date to go live, but is an announcement that we have our initial candidate that we will be testing internally. This testing can last any amount of time but is an exciting step for us.

Thank you everyone for everything you do for the community and as always we look forward to hearing from you.