Biweekly update #11
Welcome to STRIPS Biweekly update #11! We met with many project founders and trading firms over the past two weeks both at the EthDenver conference and also after the conference. The biggest global news recently was the Russian invasion of Ukraine, and this groundbreaking news light up more possibilities for cryptocurrency, especially in DeFi. While we have some employees living near Ukraine, but thankfully they are safe and sound. However, we cannot take safety and peace for granted in these extraordinary times. The past two weeks has also been tough on our token price, however, we have been spending more time and money on increasing our visibility and marketing. The effects will become evident in the coming weeks and months.
Unlike a lot of DeFi projects out there that are only interested in attracting short term capital to dump on their community, our team has not sold a single token, and do not plan to sell any in the near future. Our vision is to build for the next 10 years, and we will hold strong and reward our long term hodlers.
Market Recap
- STRP price: $1.82 (-19.2% 📉)
- STRP circulating supply: 3,709,296
- STRP circulating market cap: $5,457,157
- Number of holders: 1392
- Twitter followers: 23k
Progress Update
We have launched our mainnet over 3 weeks ago, and while we have been seeing solid trading and staking volume, however there are still a lot of STRP holders who have not yet bridged to Arbitrum and stake to earn rewards. You can start staking by following the guide here.
Data-driven advertising campaign
As we are here for the long term, we are very cautious with spending marketing dollars, as paid marketing can quickly become a black hole that may see short term results, but not sustainable for the longer term. After discussions with the team, we decided to launch our first paid advertising campaign with etherscan. Coinciding with the launch of our mainnet beta, we launched a paid campaign that put Strips in the searchbar of the etherscan page. Thanks to the trackers that we had put in place weeks ago, we were able to track the CTR and conversion rates. Approximately 5% of clicks from etherscan converted to real traders and stakers. We will be keeping a close eye on these numbers going forward in all our campaigns in order to find the best channels. We are first and foremost data-driven decision makers.
Trade History
We have removed the Liquidation tab and replaced with Trading History. This should provide a lot of useful information for traders. If you have any feature requests, please submit them to https://strips.canny.io.
New Market (FED-SOFR)
We launched a brand new market that represents a massive breakthrough in DeFi. For the first time in history, people can trade the US Secured Overnight Funding Rate (SOFR) without owning an ISDA license (check here). First time in history, ANYONE can trade the world’s most important interest rate in a decentralised and easy manner. Anyone can now hedge and speculate US interest rates easily directly on https://app.strips.finance/exchange-pro.
To start trading the US Fed SOFR rate, click on the market drop-down menu and select “FED — SOFR”
If you have exciting markets that you would like us to list next, please drop us a comment at https://strips.canny.io and we will take your suggestions very seriously.
Frontend
- Fixed some loading issues and bugs
- Improved google analytics to better understand user needs
- Added trade history section
- Changed markets naming convention
- Added FED-SOFR market
Development In Progress
As the team dedicates on on-boarding more traders and stakers, we are developing more structured products which are much easier to take actions on for both traders and stakers, while on-boarding more exciting markets!
Media Roundup
Strips Founder, Ming Wu on Coindesk discussing markets
https://twitter.com/CoinDesk/status/1497280540168310788
Twitter Spaces
We were pleased to hold our #redefine twitter space together with TN, co-founder at Pendle Finance, a fixed rate protocol. Stay tuned for next Monday’s #redefine episode as we speak with AltcoinSherpa in an explosive episode discussing altcoins trading strategies!
STRIPS is currently hiring for a Head of Growth position. Interested applicants can email their resume and cover letters to info@strips.finance.
To learn more please visit the project’s website at https://strips.finance/ or follow the project on:
Disclaimer
Any past performance, projection, forecast or simulation of results does not necessarily indicate any investment’s future or likely performance. The information and publications are not intended to be and do not constitute financial advice, investment advice, trading advice or any other advice or recommendation of any sort offered or endorsed by STRIPS Finance.
