Dear CoinsPaid community,
In this article, we describe the CPD token’s current status and share the future plans. This document gathers together the main elements of the big picture showing the development of the CPD ecosystem, and answers the common questions held by holders.
As you all know, the CPD token is the centric core of utility and loyalty for CoinsPaid ecosystem services and its functionality won’t be limited by utility only. The CPD token was launched in September 2021 and has not yet realized its full potential. Nevertheless, the results that we have achieved over the past time are quite reasonable to look to the future with confidence and gradually realize our goals.
IDO recap
- The first IDO was run on multiple blockchains simultaneously.
- The biggest DEX liquidity on TGE day: $1.6M across 3 blockchains
- All raised funds were placed and locked in Liquidity Pools on 6 DEXs.
- DAO Pad SEED SHO has successfully happened with 25х oversubscriptions.
The CPD private round price was $0.01–0.015, while the public round price was $0.02. The price varied between $0.051 and $0.067 in December. Considering those facts, we have seen that the token price has increased by 255–335% over the last three months. There are over 1300 token holders total at this moment on three chains.
September 2021, we faced up a problem. According to the SHO agreement between CoinsPaid and DAO Maker, 5 million tokens were transferred to them. The tokens that DAO Maker was supposed to distribute to their public buyers were taken by a hacker and sold. There was no additional token mint of CPD tokens. The exploited amount was taken from DAO Maker’s contract for DAO public buyers in future releases. And they deployed two smart contracts with 2.5 million tokens each. DAO Maker bought back tokens of $150K value out of 5M tokens, and as well as CoinsPaid did buyback as well to reduce selling pressure on price.
Current state
Coinspaid business results
In 2021, the volume of Coinspaid transactions amounted to 5.5 billion EUR and increased by 340% compared to 2020. This year, for the first time, we crossed the mark of 1 million transactions per month and the total number increased by 170% compared to 2020. In 2021 our team has grown by 140% and now has 125 members.
We have significantly improved our Cryptoprocessing performance and convenience. We have completely redesigned our B2C wallet architecture and successfully launched mobile versions. We registered a company in El Salvador and prepared to take over the Latin American market.
However, as CoinsPaid is a regulated and licensed business, and the current situation with the legal side of cryptocurrencies in the world is moving fast, we stopped all marketing activities aimed at token promotion in October and requested legal opinions about CPD from reputable legal firms in Germany and Liechtenstein to mitigate potential legal risks. At the moment, we have managed to get a legal opinion in Liechtenstein from BCAS, which works with other well-known brands like BitPay, Waves, Bitrix Global. Having received legal opinion in Germany in the first half of January 2022, we will fully implement the marketing strategy.
How we plan to support token adoption
To ease of use and attract new users, we have released mobile versions of iOS and Android Coinspaid wallet. These applications are an essential part of the project we are developing, and they will be given special attention.
In 2021 we realized a CPD token staking for merchants and paying fees in CPD to get discounts on our services.* As CoinsPaid is expanding into DeFi, our main business and the key revenue stream is still crypto processing.
Yield farming has also been unlocked this year! We launched 2 farming programs on ETH and are going to present 2 more on ETH and BSC in Jan 2022. Everyone who wanted to try farming $CPD tokens could do it. Yield farming is the process of adding the assets you currently have to the liquidity pool. The user became a liquidity provider and could be rewarded for that by doing so.
* When we talk about $CPD staking, we mean simply holding tokens on a merchant balance. This is different from CoinsPaid’s yield farming program, where tokens first have to be deposited in a liquidity pool (read how to earn rewards with $CPD farming). The main point of staking for merchants is to get discounts on crypto processing services. Normally a business pays a fee of around 0.8–1.5% on each payment, which is quite an attractive rate — especially since CoinsPaid doesn’t charge any hidden fees. But with a good $CPD balance and high volumes, the fees can be cut by as much as 20% — and even 40%, if the fees are paid in $CPD.
Nearest plans
The marketing campaign that we plan to launch in the near future will be aimed at:
- increasing $CPD awareness among the broad target audience using active media ad placement on top crypto & blockchain platforms. The proposals are received and analyzed;
- we already started ad booking on top platforms like Dextool, BSCscan, Coinmarketcal, more to come. As soon as the second (German) legal opinion is received, we run them;
- direct growth of token holders using virus competitions, airdrops, bounty campaigns, etc. Maintaining the number of holders through the launch of farming and staking;
- attraction of organic traffic through active SEO promotion, content marketing, and crowd-marketing. Research of marketing agencies with proven expertise in crowd marketing is in progress;
- building a loyal and active community around CoinsPaid and its token. The most dynamic and target geos are Turkey, Spain, Vietnam, CIS, India, Latam, and more. We aim at getting up to 150–200K subscribers on all social media platforms by the end of 2022;
- launch of partner, ambassador programs, and crypto academy. The Ambassador program is ready for launch, waiting for Germany LO.
We appreciate your opinion and strive to provide our users with only the best products. The main factors that assist us in realizing our common goals:
- growth of general crypto & blockchain trend;
- growth of CoinsPaid B2B direction: number of merchants, partners, business metrics;
- launch and active growth of B2C direction: mobile wallet app with built-in exchange and bank card support;
- successful execution of a general marketing strategy for brand awareness and loyalty.
Key BizDev directions
At the moment, we are negotiating directly and through agents with Bittrex, ByBit, Gate.io, and other major market players. We’re already at the final negotiation stage with some companies and will announce as soon as the agreements are signed. In addition, we integrate various incentive programs to initiate the use of CPD in settlements between our merchants and their clients.
Wish you all the best in 2022!
Sincerely yours,
Coinspaid Team
