Our last medium post was nearly a month ago and with the quarter rapidly coming to an end we felt we owed our community a full project update!
Development Progress
- As we’ve reported many times, significant development cycles were spent dealing with the instability of BSC, ultimately we found this untenable and worked diligently with Chainstack to find a long term solution. Chainstack felt we were such a unique case of how their hosted services were being used they featured us in their customer spotlight! We are very glad to have found a partner in Chainstack that enables us to focus on doing what we do best — providing the best and most accurate charts and data possible and not having to worry about our growing fleet of networks and nodes.
- Delivered two new blockchains, Avalanche and Polygon, which was outside of our original roadmap, but something we felt was critical as we try to best differentiate ChartEx from the competitors.
- Alerting infrastructure is now code complete, you will be able to pair your ChartEx Metamorphosis account to a new suite of bots and set up alerts across ALL our supported networks.
- The long awaited launch of Metamorphosis is finally here. It will be staged with a 14-day transitional period beginning July 1st — we will update https://www.chartex.pro with warnings that charts will not be saved as they are incompatible, encouraging remaining token holders to start using Metamorphosis within the transitional period.
- Telegram Bots will go live on July 1st, pairing with the Metamorphosis launch. While these bots are new, and slightly different, they should be largely familiar and we hope the community is happy with the new features provided!
Wider Market Conditions & Pivoting Economic Model
The last couple of months in the DeFi space have been challenging to say the least. We took a long look at the broader market, as well as, our competitors, and decided to shift our focus from building out subscriptions to focus heavily on business development.
ChartEx now supports 4 blockchains and over 300 AMMs, and as such, is unique position to work with not only work with AMMs, but also the Networks themselves. ChartEx not only provides the best charts across the multiple chains, but is uniquely positioned to provide data and analytics against nodes, network volume, AMM volume, and pair information — and that enables a very strong pitch for sponsorship and support. This goes beyond unvetted banner advertising which you may see on other products and allows us to maintain our signature clean and professional look and feel of our product, with tangible support from the networks and AMMs you have come to use and rely on every day.
Why seek out sponsorships and partnerships?
Sponsorships and partnerships from AMMs and Networks keep the deflationary model intact and even goes a step further than the subscription model would (buyback and burn versus just burn as we would accept payment in their native tokens) and will ensure long term sustainability, as well as, a strong show of support from the respected networks.
Firstly, AMMs and Networks do not have to build anything themselves. ChartEx has already invested significant time, effort and money into a robust and scalable infrastructure to support multiple AMMs across multiple networks. This allows them to provide Charting-as-a-Service (CaaS) to their users.
We actually have a very exciting announcement to share regarding our first major partnership and are currently awaiting legal review to conclude and the ink to dry!!
What does this mean for subscriptions?
On hold, for now. Until we can find a model that makes sense in the current market conditions, we do not think it is development time well spent, we believe high level sponsorship brings all the benefits and more, meaning end users keep ahold of their CHART and we still deflate the supply.
However, after speaking with our advisors, and listening to our community, we will be raising our tiers at the end of the transitional period with the retirement of the legacy ChartEx platform. All existing users would be grandfathered into the existing CHART holding requirements (so they keep their existing tier level and access) provided their balances do not drop below their tier minimum, but the new tiers would be simplified:
Holding 100,000 CHART (or 70,000 ZERO)
- secures your ability to access the new dashboard and all new chains.
- secures your ability to save and load charts and indicator layouts
Holding 200,000 CHART (or 140,000 ZERO)
- secures your ability to save and load charts and indicator layouts
- will be required to curate a watchlist and set up price alerts to be received via Telegram
- will be required to access the Whale Tracking and Wallet Alert Telegram Bots
- will be required to access our alert capabilities on Telegram
Couple more things…
Liquidity Mining
Currently in negotiations for liquidity mining to kick off on Polygon and continue on Avalanche. We’ll share details as soon as we can! We’re excited to get the CHART token available on multiple chains, but we want to ensure proper emissions and sustainability!
Dashboard Public Beta Testing
- Our most significant development achievement. Our new dashboard is something we are extremely proud of and something that we feel truly differentiates us and separates us even further from the pack.
- Apply for access starting July 12th, this will be strictly vetted based on your participation in the community or specific expertise you can bring to the testing process
- This will be a new, but tightly integrated standalone product with a higher holding requirement when it comes out of beta. We are targeting end of Quarter at the very latest to be feature complete (keeping actual features under wraps due to the saturated charting/tools sector) but an MVP will launch well ahead of this (which is the form in which testers will have access to very shortly).
Longer term
New chains! HECO & Fantom, as well as, researching Solana and Comsos. Chains that are not EVM compatible present certain challenges, but we’re confident we can figure it out if demand is there!
We’re also migrating parts of our core platform onto Microsoft Azure to deliver a more scalable, higher performance, resilient service to our users that can grow with us.
Our partners at Relay will be building a bridge directly into the ChartEx UI to ease on-boarding to new chains!
About ChartEx
ChartEx is a leading provider of full Candlestick charting for markets on AMM platforms on Ethereum, Binance Smart Chain, Polygon, and Avalanche. It was the first platform to offer mainstream charting for Uniswap, PancakeSwap, Sushiswap and many other AMMs not covered by typical charting providers. It continues to pioneer in development of tools to benefit Defi trades with it’s user-centric ethos to product development.
