Connect Financial Progress Update
Good day to everyone in the Connect world, we’re back with our weekly (for the most part) update. Thank you for your patience last week on us skipping the update. We were in all day meetings with our card issuer and card processor finalizing some details, reviewing system securities, reviewing our processes and a multitude of other items necessary prior to launch.
This was a very thorough examination of our systems, from top to bottom, from technology security to physical delivery and customer support. It was a very long week but at the same time exciting in many ways.
All together we came out as exceeding standards in about every area, with only small minute details needing addressed.
Update on Staking -
We’ve discussed a few times our proposed path for the staking and Token Portal of Connect. Today we are pleased to give more details on this as we have finished all of our necessary testing and trials to ensure our option is viable and fills on the needs of our user base.
Now, we realize this maybe a bit contentious for some, as there are more and more options coming to the market every day. But, we have analyzed the majority of them, looking at key elements for longevity and keeping as good stewards in the Crypto realm. To this end we have elected to proceed with updating our staking and parts of our defi aspect to the Arbitrum L2 network.
Arbitrum provides the only current enterprise ready L2 roll up to Ethereum giving us extreme flexibility in the space. This will give our users a drastically reduced cost on staking activities and not require them to own or purchase any other token(s) for these.
We have already prepared all the data to be migrated, copying over the entire state data of the current contract and prepared the contracts for launch on Arbitrum.
You as users will not have anything to do, when we make the official switch over all of your current stats, locked tokens, earnings, EVERYTHING will be copied exactly into the Arbitrum contract. You will only be required to switch chains on Metamask or other wallet to interact. Please note — We will still be supporting all other wallets that we currently do.
The actual transition will look like this —
We will implement a contract upgrade to the Ethereum contracts, introducing a pause function and a burn function.
The Ethereum staking contract will be paused, so no new transactions can take place momentarily.
The data points will be updated to the block when the contract is paused, only taking a few minutes as it is running in real time already concurrently with the contract.
The new Arbitrum contracts will be pushed live with all data, tokens distributed to the exact user wallets as currently held on Ethereum.
The token portal will be updated with Arbitrum contract addresses and pushed live. Users coming to the site will now interact with Arbitrum chain.
On Ethereum, the sCNFI that exists will be recalled and burned so there is no confusion or chance of issues with it existing still.
Update on platform UIUX
Optimized user experience is everything in today’s online digital world for the best engagement possible and retention to brand loyalty. Are designers and developers are working at enhancing our overall platform experience to incorporate leading foundational UIUX functions and representations to establish a modern, simple-to-use and intuitive platform journey. In the most recent developments, our team is focused on enriching the platform profile UIUX that encompasses overarching account details, wallet address and bank account management, security settings and our referral center.
Update on website / marketing
It’s been nearly a month since we have launched our new website and are thrilled at the level of engagement encountered with our new brand and online presence. When we take a look from one-month prior launch to one-month post launch we have grown our users by 1,475%, pageviews increased by 1,445% and our bounce rate has reduced by 4.82%. Global exposure has grown as well with United States readership increased by 480%, Canada by 406%, UK by 575% and Europe by 8,802%.
This week we have launched another article focused on discussing the topic of unbanked by choice. Fintech is already experiencing an annual growth rate of 25% and crypto adoption estimated global crypto ownership rate at an average of 3.9%, with over 300 million crypto users and over 18,000 businesses accepting cryptocurrency payments. In this article we review the top 4 reasons why people worldwide are moving away from the traditional banking methods and embracing the innovations brought via these two industries. Read Article — https://cnfi.me/30Tg1Be
Couple weeks ago, we launched a different article discussing the evolution of
cryptocurrency and 3 innovations that are making crypto become more tangible in all of our everyday lives and improve our financial goals. If you haven’t had a chance to read it you can check it out here: https://cnfi.me/3nLa1Dx. Our team is vigorously working at establishing our core marketing messaging and voice. Stay tuned and follow us @connect_fintech to be the first to read our upcoming fintech and crypto specific articles, whitepapers and more.