8. THORWallet AMA 2022–05–20

Dear THORWallet community

Please find here the recording and summary of our seventh THORWallet AMA episode with the THORWallet Chief Growth Officer Pedro Isaac Lopez, hosted by Archon which took place live in Discord on the 20th of May.

These Weekly AMAs are a crucial instrument to keep users and community members up to date about recent developments and important news. We will talk about recent events, product development, introduce individual team members, discuss roadmap items, and more.

Listen to the recording of our latest AMA!

Summary of the Weekly AMA

If you just want to get the most important insights from the AMA, you can read the below summary.

Introduction of Pedro Isaac Lopez — Chief Growth Officer at THORWallet DEX

I am Pedro Isaac Lopez, Chief Growth Officer at THORWallet DEX. I am an industrial engineer, MBA with focus in Finance, self-taught python programmer, and entrepreneur.

I am an experienced startup builder and have been in crypto since late 2017. I have worked in several blockchain and crypto projects since 2018.

My role at THORWallet DEX is Chief Growth Officer with the main goal of increasing adoption, generating additional downloads and increasing the overall user base which will ultimately lead to higher revenue.

My current priorities have been:

  • CEX listing: Smaller investors were priced out of TGT (buying on the Ethereum network) too expensive and therefore they didn’t get access to the premium features.
  • WebApp: We want to bring all features and functionalities available in the mobile app also to the WebApp both for regulatory reasons and because some users prefer web products. With MetaMask and XDEFI Wallet integrated we already cover most assets plus offer a Ledger integration which is already significant added value.

Update on THORWallet’s KPIs:

Let us have a look at the current download and usage statistics of THORWallet:

  • Total downloads: 25,684 (iOS: 14,984; Android: 10,700)
  • Weekly Active Users: 7,126
  • Trading volume: April: $15M, 9000 txs; May MTD: $17M, 4800 txs
  • $TGT holders: 2,136

We see a constant growth in download and usage numbers from week to week. All these statistics and more is now available for everyone to check any time in our new Analytics Dashboard at https://analytics.thorwallet.org/

Statement on the recent Terra incident and $UST meltdown

Overall the whole event is of course very bad for the industry as many people lost funds or in some cases even all of their savings. We need to remember we are still building and most of the projects and products are at an early or even experimental stage and risks are high, sometimes we tend forget that.

As we just integrated the Terra blockchain into Thorwallet DEX with some significant efforts, we were also quite disappointed about what happened and how it affected a blooming ecosystem.

Regarding Terra V2, we are of course open and will certainly plan to integrate it into our applications if it gets significant traction.

Fortunately, THORWallet DEX was not directly affected as no treasury funds have been exposed to the Terra network. Also we have at least 24m of runway (not even counting revenue) to continue building even during a longer bear market.

THORWallet Update

THORWallet DEX WebApp

Just yesterday, we launched our WebApp as a Beta to everyone!

You can already connect to our WebApp with MetaMask and XDEFI Wallet (which also allows for Ledger support) and start trading all supported assets. Over the coming 3–4 weeks, we will have all features available in the WebApp that you are already enjoying in our mobile apps.

Try it today: https://app.thorwallet.org

$TGT Listing on MEXC Global

$TGT is now available on a centralized exchange, namely MEXC Global. This also allows smaller investors to get exposure to $TGT (and enjoy our app’s premium features) which have formerly been out-priced by Ethereum gas fees when buying on SushiSwap.

$TGT is also part of MEXC’s MX DeFi platform, so that stakers of $MX or $TGT are eligible for liquidity yield.

Our Referral Program is Live

Our new Referral Program has gone live in the previous week, allowing all referrals to earn up to $40 in $TGT with their friends receiving $20 in $TGT. Over time we will also add additional missions for more ways to earn $TGT.

App Version v1.2.3 Release

Our latest release v1.2.3 is out with many new integrations and features:

  • Referral Program to earn $TGT
  • Support of additional EVM chains (Moonbeam, Polygon, Avalanche and Arbitrum)
  • Support of the Terra blockchain
  • Allowing users to add custom tokens (based on token contract address)
  • Update on the pool APR calculation

Update on Marketing Activities

Marketing is a continuous effort for us and we are always trying out new way to promote our app to additional target groups. Please find here a short update on recent activities.

On top of that we are also working on a complete website re-design as well as new explainer videos for our apps.

Upcoming Milestones

  • Multi Wallet Functionality
  • Pool analytics feature that allows to see pool value, earnings, LP vs hold as well as impermanent loss.

More Answers

We answered many more questions from the community in the AMA, so if you want to get all the updates, make sure to check out the recording above.

Join us here:

Official Website: https://thorwallet.org/

Twitter: https://twitter.com/thorwallet

Telegram Group: https://t.me/THORWalletOfficial

Telegram Ann: https://t.me/THORWalletOfficial_Ann

Discord Channel: http://discord.gg/TArAZHDjCr

Official Opensesa Collection: https://opensea.io/collection/thorwallet-army

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The THORChain community wallet

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