With 2021 now behind us, it’s time to shift gears and take a look at the exciting prospects that lie ahead in 2022. Our team laid the foundation and groundwork last year to ensure we were fully prepared to kickstart the new year with continued opportunities.
Coinchange has major plans to keep growing our core value proposition with new features, partnerships, regulatory compliance, locations, and much more.
To all of our users and customers, we want to wish you a happy new year! Now, let’s walk through some of the major milestones we’re aiming to accomplish in 2022.
Products & Services
Bitcoin and Ethereum Earn Accounts are now available to select users, and both of these tokens will soon be accessible to the wider community. We have plans to continue to integrate and add multiple new tokens throughout 2022 to give our users the ability to diversify, in addition to opening the door for additional opportunities to earn a yield on their favorite assets without requiring them to sell. Our roadmap includes adding Chainlink (LINK), MakerDAO Stablecoin (DAI), Terra (UST), AAVE Protocol (AAVE), and Uniswap (UNI) in both the Earn Account and Trade accounts.
This is part of the work we are constantly doing behind the scenes to increase the overall yield across our supported digital assets by expanding our strategies across multiple chains – this means you’ll be able to generate even more passive income, providing a strong boost to your overall portfolio. In the coming weeks, we’ll provide an update on the chains we chose and their benefits.
Assets Under Management
We’ve come a long way from inception in terms of the growth of our platform, particularly in regards to our AUM (assets under management). As we continue to onboard new users, we’re setting our sights on this number growing even further to $100 million by the end of Q1 and $500 million by year-end, allowing us to extend our reach and allow customers from all around the world to earn high yields.
Part of this objective will be met by our BTC and ETH offerings within the Earn Account, which offer the highest yields and lowest risk. We expect these token additions to attract a significant increase in deposits, both from the retail and high net worth/business clients. We also expect the additional token support to be a driver for increasing our overall market growth, partnerships, co-marketing, community growth, and word of mouth across the board. Stay tuned for their launch, happening very soon!
Strategies & Protocols
Throughout 2022, we plan to initiate up to 20 new hedging, lending, and risk management strategies to help optimize everyone’s portfolio and manage the ideal balance between profit and risk. In addition, we’ll keep ensuring that we have the correct algorithms and mechanics in place for our base protocols – this means whenever there’s a new fork or upgrade, we’ll quickly be able to pivot and seamlessly create tailored strategies based on any changes.
The strategies we add will include diversified mechanics and mathematical-based strategies to maximize APY and focus on hedging/controlling risk, all while reducing risk through developing frameworks and score models. Additionally, we’ve added a Smart Portfolio Yield feature to our roadmap, intended to calculate ideal weight models based on user criteria while also allowing for customization on the customers’ end.
If our risk management tools, security measures, and DeFi protocol evaluation weren’t enough to bring you on board our platform, then this almost certainly will. We’re pleased to let everyone know that we’ll be adding insurance protection to our Earn Account this year.
With insurance in place, your digital assets held on our platform will be protected. We’re now bringing one of the missing benefits currently present in the traditional financial system to the blockchain space, front and center. This will be in addition to our $30 million current insurance protection with Fireblocks, which you can learn more about here.
We’re excited to announce that we’re planning several new features for the Coinchange platform this year. Our roadmap includes:
- A massive web app UI upgrade coming very soon
- Recurring buys
- Accounting integration
- Improved SOR (Smart Order Routing)
- Real-time 24/7 chat with support
- Limit orders
- Non-compounding accounts
- Automated rebalancing/liquidity management
$5 Million Raised
We’re pleased to announce that we’re on target to complete a $5 million round from our investors in Q1, providing us with the capital we need to continue charging forward - this capital injection will allow us to add more features and benefits to our platform. More funding opportunities will follow over the course of the year to drive the growth of our business forward.
Coinchange is exploring the potential to enter into new partnerships with several influential and reputable organizations in the crypto space. Collaborations are an integral part of broadening our horizons within the blockchain community while also benefiting from our partners’ services to help make our company better as a whole.
Pay attention to our blog post for updates on partnerships that should be coming soon in the first quarter.
A procedural and financial audit are both currently underway for Coinchange, as we are working with top auditing firms to ensure we’re fully compliant and operating as necessary.
We’re also working towards completing Proof of Reserves, Penetration Testing, and External Security audits so our customers can rest assured that we’ve done our due diligence and have put the highest quality protective measures in place.
EU Entity & US MTLs
Our organization has submitted paperwork for a filing to register a Coinchange entity in the EU, specifically in Warsaw, Poland. Our goal is to open up a brand new office and establish our presence in Europe to serve a broader market. This is still in the works but would be a major stepping stone for this year.
Additionally, we submitted applications in 2021 for 32 MTLs (Money Transmission Licenses) so we can begin providing our services to more US states. Receiving approvals on these licenses will be key to showcasing our product across more parts of the US, as its citizens are our primary target market.
So Much To Look Forward To
Our team is looking forward to an exciting 2022. With so many big milestones ahead, we’re destined to strike gold this year and truly grow our platform and community reach to the stars and beyond.
Coinchange is setting our sights on bringing the best passive income opportunities available to the broader market through DeFi yield aggregation, bridging the gap between the average and high-profile investors.
It’s time for change.