Goodbye March, Hello April!

How’s it going #CrystalCrew? With the month of March now behind us its a perfect time to look back and consolidate all major events in one convenient article. Let’s do a quick recap of March before we set our eyes to yet another amazing month at Crystl.Finance!

Evolving The Business Model

Throughout Q1 some of our biggest accomplishments were the release of two major components of our product offering: Revenue Sharing for the #CrystlCrew, as well as our Website Speed Upgrade!

At Crystl we have always strived to bring strong utility to the $CRYSTL token ever since choosing to adapt our business model to become a Yield Maximizer platform. What better way to maximize benefits for the protocol and its holders than by directly incentivizing $CRYSTL liquidity through our Revenue Sharing feature.

The $CRYSTL token and its price will now be correlated with our TVL and the performance fees accumulated by our business. Split in a 4% : 1% ratio between the Crystl treasury and to the Revenue Sharing reserves respectively. Higher Vault TVL will result in higher Revenue Sharing rewards paid out to $CRYSTL liquidity providers, in turn increasing the demand and bringing in more users and even more TVL to our platform while also ensuring the Crystl DAO has adequate funding for operational runway. This feedback loop is a key component of our new business model! The most exciting part about all of this is that the sky is the limit! Since only 12,500,000 $CRYSTL tokens will ever be in circulation, the price can be expected to increase as demand to partake in Revenue Sharing grows. Not only does this allow investors to consider $CRYSTL as a vehicle for passive income, but it also allows for speculation on the future performance of the Crystl.Finance DAO.

With Revenue Sharing established, it follows that a key goal of Crystl going forward will be to increase the TVL of our platform. Releasing our Website Speed Upgrade was an important move to make sure this is possible! Nobody likes delays and interface misbehavior is a roadblock to mass adoption. You’ll be glad to hear that since March our website speed & loading times have increased nearly 10x (1,000%). Vaults load faster, display correct amounts, and are a pleasure to use — setting us up to be capable of supporting large amounts of traffic as we begin our aggressive expansion in Q2 this year.

Preparing For V3 Vaults

In March we held Governance Proposals 6, 7, and 8 to ensure the Crystl community is on board with how Revenue Sharing rewards are distributed on different chains (a minimum of $5,000, funded by excess rewards obtained on other chains i.e. Cronos). An important decision, especially considering that our next protocol expansion to BNB Chain is coming ever closer, bringing in new TVL, new users, and higher rewards!

You’ll also be thrilled to hear that we will be launching some much-requested single staking strategies for your favorite tokens after the release of V3 Vaults! Our upcoming product “Ultra Farms” (formerly known as Maximizers) will be built on top of these single staking strategies to allow users to maximize their single token holdings. Be sure to check out our latest infographics to understand how Ultra Farms work.

Metrics of Note

There are a couple of key metrics you’ll want to keep an eye on as we proceed to grow and expand our platform. Firstly, although we will focus on expansion in Q2 and onwards this doesn’t mean that our existing platform on Cronos and Polygon won’t receive any love! In fact, throughout March we have added a total of over 30+ Vaults across these chains and partnered with a number of key players including DarkCrypto Finance, ARCANE, Definer, Greenhouse DEX, and CyborgSwap, among others. We also had a fun Rest assured that we will continue giving adequate attention to all chains Crystl resides on.

One other metric to mention is the recent distribution of the $CRYSTL supply. Ever since we launched Revenue Sharing, $CRYSTL liquidity has increased significantly on both Polygon and Cronos. Over 25% of all circulating $CRYSTL is now held in liquidity. Why is this a significant milestone? Ensuring that our token is purchasable with low slippage and low price impact is critical for price appreciation. With such a large chunk of the circulating supply available in the liquidity, new investors will be able to purchase a lot of $CRYSTL. Price appreciation is something to look forward to with promising releases like V3 Vaults on the way in Q2.

New Branding & Site Redesign Leaked

If you missed our Q2 All Hands on Twitter Spaces, you’ll want to catch up with the recording below for some awesome leaks and to learn about our Q2 expansions strategy. In Q2 Crystl will be undergoing a complete rebranding, for a new professional & sleek design, a new logo, colors, and more!

What’s Next In Q2?

We will be coming out with an updated roadmap in the near future, but for now here’s some things to keep you guys excited!

  • New Site & Rebranding (as mentioned above)
  • V3 Vaults Release
  • Ultra Farms — formerly known as Maximizers
  • New Major Partnerships & Marketing Initiatives
  • BNB Chain Expansion
  • Another blockchain expansion — to be revealed
  • NFCs — our own spin on NFTs, “Non Fungible Crystals”

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