Monthly update — March 2021
Welcome to our mothly update, the March 2021 edition.
As March is also the end of 1st quarter and in this update we’ll reflect also on the achievements over the Q1 2021. We’ll talk about exchanges and liquidity, beta launch, staking and partnerships
We’ve set the goal to be listed on a Tier1 centralised exchange until the end of Q1 2021. Looking back we can say that we definitelly underestimated the effort needed to get listed on a Top tier exchange. As we didn’t reach this goal in desired time we have doubled down on our efforts to make it happen as soon as possible.
As we realised listing on Tier1 exchange might take some more time than originally anticipated we decided that one of the solutions is to grow in terms of volume and liquidity.
Initially we were of the opinion that listing on more Tier2 exchanges would not help us but it turned out that we were wrong. As a part of the process of getting listed on a Top tier exchange we decided to list on a several Tier2+ (higher end of Tier2 exchanges). We started having conversations with several Tier2+ exchanges that will result in listings during April.
As these new listings bring more attention to the project and help us grow, we’ll continue in parallel with the efforts to list on a Top tier exchange as fast as possible. As history has thought us committing to a date can backfire when things are not fully under our control so in this case we can only say our goal is to make it happen as soon as possible and hopefully it can happen in early May 2021.
In the last few months we’ve received 100+ ideas via our idea submission page. We’ve received a lot of great ideas and some not so great. Ideas range from building decentralised version of Yelp, blockchain voting or various asset tokenisation use cases to building a decentralised exchange. During April we’re going to start onboarding the selected group of ideas to participate in private beta. We’ll select ideas that best fit with the current capabilities of the platform and we’ll start working together with them to make their idea a reality.
We’re still open to new ideas so feel free to submit your ideas here.
We anticipate the private beta phase to last from 1 to 3 months depending on the final number of beta participant and the effort needed to integrate received feedback.
During March we’ve formed a strategic partnership with Bonfi (details on the partnership can be found here). We believe that partnership with Bonfi will strengthen the offering of Katalyo in the DeFi space. We’re putting a lot of emphasis on building real use cases like the joint staking product and we’re extremely excited regarding our NFT collaboration where we’ll dig deep into NFT applications beyond digital art and collectibles.
On the other hand our partnership with INblockchain is winding down. We’re quite satisfied with the strategic part of the partnership where the initial setup was prepared and put into action jointly with INBlockchain. On the other side we also have to be realistic and say that operational side did not deliver desired results especially on the exchange side where listing on BigOne exchange did not bring a lot of value.
As mentioned before in previous articles we’re always looking for partners that are aligned to our strategy and our parthership strategy. We want to point out that we don’t chase vanity partnerships. Our partnerships are based on substance and require a lot of effort to implement.
The announced joint staking product with Bonfi is an integral part of the beta launch. The staking product will be designed and built in a way to fully fit with Katalyo’s no-code concept. Our goal is to have staking rolled out in May 2021. More details on staking will follow soon.
After the end of the 1st quarter we can conclude that we’re growing and making progress. In some areas like creating a more liquid enviroment for $KTLYO we need to do better and we realise this. With the plan we have in place we feel we’re on the right track to make it happen. Overall we can be satisfied with our progress to a degree but we’re not complacent and we strive to do better today than we did yesterday. With the help of our awesome community we’re certain we’ll achieve our ambitious goals.
Be safe, stay healthy and stay tuned to our official channels to stay up to date with all the news.