The last 6 months has been a non-stop sprint for the CoinFi team. We’ve gone from a team of 3 cofounders to a team of 12 and growing.
Going through an ICO gave us the opportunity to share the vision for CoinFi with the world and build a passionate community of early adopters who are excited to see CoinFi grow. However, the ICO process also demanded the full-time attention of the entire CoinFi team, leaving us with less time for product development.
With token issuance complete, we finally have time again to focus on our core mission of bringing Wall Street caliber trading intelligence to the blockchain. We’ve been hard at work pushing towards our first big milestone, the April 6 open beta launch.
Here’s an update on some of what we’ve been up to in the past couple weeks.
Jan 29 KuCoin Launch
The last couple weeks have been a turbulent time in the crypto space – markets have dropped and there has been a lot of FUD in mainstream crypto coverage.
While we can’t comment on price movements, market predictions, or discuss future exchange listings – we can assure everyone who supported the CoinFi project that we’re working hard to meet our roadmap milestones and push forward new initiatives that benefit the project.
ICON 1st Annual Summit
A who’s who of movers and shakers in the Asian Crypto industry were in Seoul, Korea to attend ICON’s 1st annual summit. As you can imagine, a lot of business goes on behind the scenes here. CoinFi cofounder and CEO Timothy Tam was there to represent.
CoinFi CEO Timothy Tam with ICON cofounder Min Ho Kim and Akropolis.io cofounder Ana Andrianova.
Building The Contributor Submission Backend
As outlined in the whitepaper, CoinFi’s platform will include a crowdsourced ecosystem of contributors delivering news, research & analysis.
While that is the final vision, a lot of work has to be done before we get to that stage. We see our work in this area as the work of gardeners – in order to have a thriving media platform where the best minds in crypto can share their ideas/research and users are incentivized to submit timely market-moving news, we need to create the right environment, plant seeds, and then carefully nurture the ecosystem until it becomes self sustaining.
Soliciting contributions from talented researchers and analysts is one of the key first steps, as well as developing our backend system to process and analyze these submissions. We’ll be accepting our first batch of user contributed content submissions before the end of February with a contest where contributors will have the chance to earn COFI tokens.
Consider this the 1st seed planted in our garden.
Continued Trading Signal Development
Perhaps no single feature of the CoinFI platform has attracted as much attention as our trading signals. We believe this is a vastly underserved part of the crypto ecosystem and we’re working hard to fill it.
Our analysts are focused on refining and backtesting the signals we’ve already demonstrated. We’re also testing new signals, and we’ll release sneak peeks of these as soon as possible.
But just as important as the signals themselves is the work we’re doing to expand our data warehousing operation to ensure that the CoinFI platform is built on a solid foundation.
This isn’t sexy work that the end user will ever see, but users interacting with our platform will notice the difference. There is a significant data engineering component required to provide Wall Street calibre trading intelligence, and this is one area where we believe that an early investment to get it done right will pay long-term dividends and provide CoinFi with a distinct competitive advantage.
Everything we’ve been working on requires talent. Adding world class talent in our engineering, finance, marketing and data science departments is a key priority for the coming month.
If you are a talented candidate in any of the above areas and you’re interested in a career in the crypto space, keep an eye out – you’ll see our job postings shortly.
Ever since token issuance, we’ve been extremely busy behind the scenes laying the groundwork to quickly scale up our operations to deliver the high quality product we’ve promised.
But as busy as we’ve been, we’ve heard the requests for more frequent updates – going forward this will be a weekly post updating the CoinFi community on our progress. You’ll also see the progress for yourselves as our behind the scenes work translates into tangible product. Stay tuned!