Typhoon Network Digest — 2021CW15
Hi and welcome to the third Typhoon Network digest. If you haven’t yet, check-out the previous entries to get up-to-speed with how the project is doing.
This week main topics summarized:
- Typhoon partnered with beefy.finance and added a self-compounding vault
- A second staking pool has been released
- The Airdrop claim has been released to mainnet
- Typhoon has successfully been audited (Report here)
- Updates on hiring and team structure (see below)
On app volume & token price
As of today, Typhoon has transacted $413,142 in 7d Volume. This is important because it provides prove of steady growth and use of the service . There is currently no direct incentives like airdrops attached to the rapid growth of typhoon and that is fantastic as it shows that people are aware that they have to protect their privacy and we are great at doing it, in addition we can include a view of the 30 day volume of the service were (including airdrop-related volume), we’re currently at $19.48m.
$typh has broke its downtrend and is currently at time of writing sitting at around $0.47.5, approaching our IFO opening price of $0.50 This is equally great news as most people that were looking for a quick profit through the IFO are gone at this point, and the airdrop didn’t result in a price dip either.
The airdrop was a topic we had to be careful with handling. Our main approach was to protect the investors that didn’t join just because there was an airdrop announced or tried to get a quick profit, we decided to delay the release due to the fact that IFO didn’t go as planned but with hard work we are back onto the right path.
In total, 9327 wallets were eligible for the airdrop. Each vault had a weight attached (1, 2, 4, 16), that was used to calculate the total airdrop share size, and break it down to each individual wallet.
We also decided to go with the ‘claim’ model instead of dropping into user wallets which helped with getting the gas cost a little lower and bring users back to the site to check it out again. There are other ways to make an airdrop cheaper, such as using cryptography and an off-chain server to sign a message that is then validated on-chain, but it was deemed not necessary for our target set.
The implementation of our Airdrop scripts and contracts is also available on github: https://github.com/typhoonnetwork/typh-airdrop
Hiring and team expansion
We mentioned last time that we are slowly ramping up hiring, here’s an update to that.
On the engineering side, we have 2 potential senior engineers currently in the final interview stage that we are hoping to onboard this week and close the deal.
We added 2 freelance designers that are in charge of general app UI and graphic design, and are in the process of formally hiring our 2 moderators.
Another point worth mentioning is that we added 2 external advisors that are currently assisting us with day-to-day decisions.
Roadmap updates and up-next
With the airdrop out of the way, this finally means that all the initially set promises have now been deployed and we can fully focus on future expansion.
Up next is the community relayer system that we brought up earlier, but had to add a non-roadmap item (staking pools) in to deal help with the constant price pressure, and focus on pushing on marketing more.
Other topics that are high priority currently are rewards for providing anonymity, and the governance system that we’re hoping to get out soon.
We’re also having an AMA with bsc.news coming on 30th of April, so make sure you don’t miss that.
Tell us what you think
Telegram (Announcements): https://t.me/typhoonnetworkannouncements