March 2023 Monthly Newsletter from Qoin Association
The contents of this newsletter are point-in-time statements. Please note the date of publication.
27 March 2023
Welcome to the March newsletter where we update the community on all things Qoin.
Update on Approaches from External Parties
The approach from a venture capital investment group mentioned in the February newsletter has entered a further phase. The firm has instructed a leading professional advisory firm to advise it on key areas of the Qoin project including licensing, regulatory, and structuring arrangements. The community will continue to be updated in this newsletter of further material progress. The Qoin Association remains confident of the potential opportunities this holds for the global project.
We are pleased to announce that during March our Block Explorer was successfully tested by selected community leaders. The Qoin Explorer will enable users to export transactions from their Qoin Wallets. The team aims to release a beta version to the community during April. Please keep an eye out for an email with more information.
In addition, the upgraded Qoin App has been released to selected community leaders for live user testing. Initial feedback has been promising and it is expected to release the much-anticipated upgrade App to the community in April, subject to approval by both the Apple and Google App stores.
Further Democratising the Qoin Project
As foreshadowed in the Official White Paper, published on 30 January 2020, page 13 states that “the Qoin Association plans to achieve increased decentralisation over time.” The announcement on 5 November 2021 titled “Qoin Commences Decentralisation”, shared the initial democratisation steps with the community. Considerable progress has been made since, including the establishment of 5 community groups and voting of leaders. This democratisation process will be accelerated with the Qoin Association soon expanding to invite more independent directors, nodes and voting members to the Qoin project.
BTX Announcement and Wrapped Qoin
The Block Trade Exchange has advised the following important announcement;
“The past few months have seen much publicised volatility in the banking, crypto and crypto-related space. Most recently, there have been crypto-derived and other banking issues in the USA, including Silvergate Bank, Silicon Valley Bank and Signature Bank and Credit Suisse in Europe. The volatility and issues include Australia; as examples, FTX Australia and Trigon X digital currency exchange was placed in administration late last year.
It is important to point out that BTX holds no customer funds in cash or fiat. Beta Qoin wrapping services will continue as normal.
BTX will keep Users updated here with any material changes to its services.”
BTX has further advised that 2,454,109 Qoin has now been wrapped as part of the beta testing. Wrapped Qoin is a Qoin on the Qoin blockchain that has effectively been transferred over a digital bridge onto the Ethereum blockchain.
Beta testing will continue through the first half of 2023. If you would like to join the beta testing, please register your interest via [email protected]
For extensive information on the beta wrapping process go to the HELP button in your Qoin App and click on the ‘Wrap Qoin Important Information’ tab.
During the month of February 2023, the community transacted 1,507,787 Qoin across 5,055 transactions between wallets resulting in an average transaction size of Q298. This data excludes internal related transactions.
Referrals and Rewards
This year, the Qoin team will be focused on expanding the merchant ecosystem, so the community has more spending opportunities. More merchants mean more products.
One of our main focuses will be to design a rewards system for Merchants to use their Qoin tokens as rewards to attract cash customers. We aim to partner with consumer groups to introduce their cash paying customers to our merchants in exchange for Qoin rewards. So please keep an eye out for further information on our exciting rewards program.
Don’t forget, we also have our Merchant Referral Incentive Program. It includes a 6-minute Qoin video where Julia explains exactly what Qoin is, the benefits, and how to download the Qoin App. You can send the link to a fellow business owner to inform them how Qoin can benefit their business.
Have a look in the HELP button, via ‘Refer a Merchant Incentive’ for details on the generous reward for both you and the new merchant.
Qhub is the dashboard for Merchants. Learn and develop your Qoin trading skills, access tools and resources to support and grow the community.
Watch the introduction to Qhub video via this link to learn more https://youtu.be/oBt964kH0Sg
Register via the Help button in your Wallet or via https://qoin.kartra.com/page/Qhub
QDN and Community Chat Combine
After feedback the community chat will now be combined with QDN so our community can watch it on demand. You can continue to ask any questions via the chat button. Please ensure you tune in monthly or watch on demand to keep up to date on all things Qoin.
Thank you to all our members of the Qoin Community for your support, loyalty, and trading in February.