Looking Forward — Q1 Update
Dear ChartEx Community,
We’re overdue for an update!
Let’s look back on the last three months:
- Launched Advertising: 81,000 Users, 2.4M Monthly Visits, 13.1M Monthly Sessions, 3 Minute Average Session Duration
- Launched Subscriptions
- Launched Fantom Charting (https://chartexpro.medium.com/fantom-charts-are-live-for-premium-subscribers-12912524a5e)
- Launched IoTeX Charting (https://chartexpro.medium.com/iotex-charts-are-live-for-all-subscribers-dc8187b645de)
- Launched Metis Charting (https://chartexpro.medium.com/metis-charts-are-live-for-all-subscribers-c91b8c21090c)
Constant Token Buybacks
- Bought back 5M CHART (6% of the Circulating Supply)
Ape Dev is a phenomenal dev, but he needed help!
- New .NET specialist to help improve existing backend
- New front end specialist to start building the ChartEx Dashboard of the future
- New content writer to help ensure we are getting more content out and improve on the name recognition of the ChartEx brand!
Binance Smart Chain Issues
- BSC has been a thorn in our side ever since we launched — current it is offline whilst we continue to build out ChartEx Cloud. We aim to bring it back after the launch of Cloud and our completely redesigned backends / query methodologies.
Where does ChartEx go from here?
ChartEx Cloud is a complete ground-up rewrite of the entire ChartEx platform.
What does that mean? Speed, performance, and reliability.
The indexers can now process over 22 blocks per second. We used to be proud of 100 blocks per minute for our Ethereum indexers — we are now over 13x faster and more efficient.
In layman’s terms — the best and most accurate database of trades just got more performant and more reliable.
ChartEx Cloud provides an API to indexed trades and statistics on all the available ChartEx AMMs.
Being just a charting provider is no longer good enough. ChartEx Cloud provides a needed boost to the utility of the CHART token. To access ChartEx Cloud, users will have to deposit CHART tokens. Every request will require a small amount of CHART tokens. Running out of CHART means no access to the service.
Simply put, users will be able to access this API to request live data in exchange for CHART tokens.
What will Cloud cost?
A good rule of thumb is each query will cost ~$0.005.
ChartEx currently has ~103,000 daily API requests — without sourcing any partners. That’s ~3.1M requests monthly. If someone were to utilize Cloud and generate our API load — it would generate $15,500 in revenue. Utilizing a similar tokenomics model to subscriptions where 70% of that revenue goes to buying back CHART — we can quickly and efficiently start buying back significant portions of the circulating CHART supply thus returning value to CHART holders.
We have heard LOUD and CLEAR that the CHART token needs MORE utility — Cloud provides that utility!
Who do we think we utilize Cloud?
- DEXs that want better native charting. Aren’t we all sick of the lackluster Uniswap or Sushiswap analytics?
- Liquidators. Immediate access to accurate pricing information to handle pending liquidations.
- Charting Competitors. Do you want to spin up your own Charting platform or token? Use our data!
What about those NFTs and NFT Charting?
Both being worked on! Good art takes time, but we aim to have our CHART Shark NFTs launched in the next month or two. NFT charting will take a *bit* longer, but we are collaborating with some very smart people in the NFT space who will ensure we are able to provide a unique differentiator to our base charting offering!
ChartEx is a leading provider of full Candlestick charting for markets on AMM platforms on Ethereum, Binance Smart Chain, Polygon, Avalanche, and Moonriver. 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.