Coin Community Update — February

Monthly Recap

Liquidity

  • Token / Company
  1. Investment: Explore outside financial investment from VC’s
  2. Fundraising: Explore additional methods for raising funds as needed
  3. Acquisition: Explore interested third-parties that are interested in Coin’s talent, IP, or both
  • Network

Partnerships

  1. New network adoption and user acquisition
  2. Onboarding new members and users to the community

Marketing

  1. Cross-marketing partnerships: We will heavily promote all collaborations with the companies and communities we partner with as mentioned above.
  2. Public visibility and influence: We’ve learned through the process of engaging with crypto influencers, it is lengthy, expensive, and that few are respected in the industry. We will be driving this “influence” directly ourselves in an attempt to gain awareness and exposure for Coin. Damon will personally take an active role in public visibility including roadshows, speaking engagements, and influencer marketing to help evangelize the brand.
  3. Community-driven suggestions: We ask and want to help support community-driven recommendations on marketing. These efforts can be grass-roots or significant. Either way we are here to support any activities that we deem will return value back to the token and overall community.

Operations

  1. Reduce operating expense: Typically, the highest cost to any company is payroll. This is certainly true for Coin as well. Over the past year, we have grown our team to over 15 full-time employees around the globe. This number does not include contractors and companies we may leverage from time-to-time based on intermittent needs such as consulting, security audits, etc. Transparently, our monthly burn rate is high. Even more so as Coin is currently a company that does not generate revenue. Therefore, we will be reducing our workforce and other operating expenses to ensure sufficient runway.
  2. Focused spending: Due to the liquidity of the token and the current market conditions, we are very aware that any additional liquidity injected from our reserve will immediately be liquidated. Additionally, any funds spent on marketing will not be a long-tail effort nor yield the expected ROI. To that end, we will be cautious in using any funds to provide additional liquidity or marketing. Rather, reserve funds will be used in favor of engineering and building technology to attempt further growth for Coin. To accomplish the goals stated in the sections above (attract investment dollars, acquisition interest, partnerships, etc.) it will require intellectual property. For example, VC’s do not invest in technology companies solely because of their marketing alone. Reserve funds would be better spent ensuring that we create valuable technology and IP that is innovative and works as expected.

What’s Next

Roadmap

  • Community Liaison Team Meeting
  • Coin Weekly AMA (Fridays)
  • Coin Weekly Update
  • Coin Wallet UI Teaser
  • Community Liaison Team Meeting
  • Coin Weekly AMA (Fridays)
  • Coin Weekly Update
  • Coin Community Polls (Branding, Liquidity, Ideas)
  • Community Liaison Team Meeting
  • Coin Weekly AMA (Fridays)
  • Coin Weekly Update
  • Coin Community Polls (Marketing, Ideas)
  • Coin Wallet Community Beta
  • Coin Swap UI Teaser
  • Community Liaison Team Meeting
  • Coin Weekly AMA (Fridays)
  • Coin Weekly Update
  • Coin Giveaway
  • Coin Wallet and Coin Swap Community Beta
  • Community Liaison Team Meeting
  • Coin Weekly AMA (Fridays)
  • Coin Weekly Update
  • Coin Giveaway
  • Coin Marketing and Community Collaboration
  • Coin Wallet V3 Release

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