Overview of the last 90 days
Blockchain industry is a notoriously fast-paced environment, where things can change in a matter of seconds. And yet… we believe that having a long-term view is equally important.
It’s been an eventful past few months for Monetha. Your response to the ICO was nothing short of incredible, and the months that followed were filled with expanding our team, critical product development decisions, strategic partnerships and introducing Monetha to a number of exchanges.
As it’s been a few weeks since the last blog, and we’re also approaching the end of the year, it’s the perfect time to look back and reflect on our progress with in-depth Quarter In Review. Let’s dive in!
Hard cap reached: “ICO in 18 Minutes”
August 31st was a historic day for Monetha — 18 minutes of it, to be precise. This is how long it took us to raise 95,000 ETH (then equivalent to $37 million dollars). We want to thank every single one of over 2,400 investors who got in and trusted in us. As we join the ranks of the largest ICOs ever, we’re far from resting on our laurels. Post-ICO is when the real work begins, and we’ve been making significant strides forward in our journey towards the much-anticipated product launch.
Monetha debuts on token exchanges
Monetha debuted on a number of key token exchanges in the past quarter:
Tidex (September 16)
A UK-based exchange run by an independent group of experienced developers and cryptocurrency entrepreneurs across Russia and Ukraine.
HitBTC (September 26)
HitBTC is one of the Top 5 exchanges in the world, operating out of the UK since 2014.
KuCoin (October 22)
KuCoin is an emerging, Hong Kong based cryptocurrency exchange, aiming to be a more user-friendly exchange. The platform shares 90% of trading fees with users, offers 24/7 customer service and generous referral rewards.
Binance (October 13)
Binance is possibly the fastest growing exchange in the world, focused on Chinese market and Chinese cryptocurrencies. Binance is capable of processing 1.4 mil orders/second. Rapidly gaining popularity thanks to low trading fees, Binance is currently among top 10 exchanges in the world by volume generated in 24h.
Consolidating our vision at a Strategic Summit
In late October, we gathered at our development headquarters in Lithuania for a Strategic Summit. Our agenda included strategic development, product roadmap and potential markets, as well as a Live Q&A with the community (recording available here)
We concluded the Strategic Summit by deciding on the future of product development and long-term objectives.
For the moment, our Product Roadmap has been released internally, but we are ready to share something which the community has been eager to hear:
The first version of our product will be released on March 31st, 2018!
To see how the first iterations of how the product are going to look, please visit our homepage: https://www.monetha.io
Joining forces for exponential impact
As we develop our product, our goal is to remain in tune with the needs of the market and keep listening to our customers. Our new partnerships help us understand the demands of the merchants, helping us develop a product that anticipates, meets and exceeds client expectations. Collaborating with diverse players, we are gaining a deeper understanding of solutions required by sellers from different backgrounds and industries.
Meet our partners:
Foodout Group is the leading food delivery company in Central Europe, operating across Ukraine, Belarus, Iran, Latvia, Lithuania, and Estonia. The company will adopt Monetha as their main cryptocurrency payment solution. The Monetha integration to be rolled out across their application, following the final development of Monetha’s Milestone #1. We’re excited about this important milestone for future Monetha adoption — Foodout Group is among market leaders in 6 important territories, taking over $30m in food orders each year.
Pigu.lt, the largest online retailer in the Baltic States, agreed for the Monetha integration to be rolled out across their portfolio of websites. Boasting an impressive growth history, Pigu.lt processes around 2 million orders per year. Thanks to the planned roll-out, including the Latvian (220.lv), Lithuanian (Pigu.lt), and Estonian (kaup24.ee) markets, Pigu.lt will become one of the largest e-commerce stores in the world to accept Ether, and position itself as a truly forward-thinking one.
LandSpotter is a startup focused on providing a powerful search tool for buyers to find land for Sale online. This partnership will enable customers to purchase land with all over the United States using ETH and help us stay informed about demands of proptech.
Growing our network and brand awareness
In addition to developing the product itself, we’ve been focused on building anticipation and growing brand awareness to create trust as a cutting-edge ecommerce payment provider. Participating in conferences, business meetings and community meetups around the world helps us expand awareness of Monetha and position ourselves as an emerging global player.
Our participation is never incidental, but driven by several objectives:
– Promoting blockchain technology in general
– Promoting Monetha as a new generation ecommerce solution
– Developing a network and establishing new partnerships
– Meeting with MTH token holders, building relationships and championing the MTH community.
Held Conferences, Business Meetings, and Community Meetups:
– Vilnius (Lithuania)
– Riga (Latvia)
– Tallinn (Estonia)
– Abu Dhabi, Dubai (UAE)
– London (United Kingdom)
– Amsterdam (Netherlands)
– Tokyo (Japan)
Investing in People
At Monetha, we believe that our strength is in our people.
Our team is now based out of two new offices:
HQ in Switzerland
We chose Switzerland as Monetha’s strategic homebase, joining a thriving community of cryptocurrency leaders.
Software Development Office in Lithuania
We have opened up a 450 square meters Software Development office in Vilnius, Lithuania, ready to welcome top development talent we’re recruiting.
Meet our latest star hires:
Kellogg N. Fairbank, Sales & Merchant Acquisition Lead
Kellogg provided digital commerce strategy and advised European, US and Asia based companies, specifically related to cross-border/mobile commerce, blockchain and cryptocurrency. He’s an entrepreneur with experience in eCommerce, Mobile & Payments.
Dmitrij Koniajev, Lead Software Engineer
An experienced software engineer, with solid background in design/implementation of various types of applications based on different frameworks (.NET, Qt).
Liudas Jankauskas, Lead QA Engineer
Testing software from 2007, Liudas has more than 10 years experience in software testing.
Justė Stašelytė, Head of Customer Support and Insights
Before joining Monetha, Justė worked as a campaign manager at Wowtto, where she was responsible for building users’ community, leading a team of community managers, creating and optimizing support processes as well as structuring and analysing user feedback together with the product development team.
With a clear direction, strategy and roadmap in place, we’re excited about unveiling the first version of our product in March 2018. In a nutshell, our main objectives for the upcoming quarter are:
– hiring world-class software/blockchain developers to release a revolutionary product for e-commerce
– raising the brand awareness to create anticipation for the upcoming product
– building the organisational structure in our target markets.