I am the marketing director at Coinweb.io L2 cross-chain platform ($CWEB).
Coinweb is building a suite of products (Wallet, Tokenization, DEX) that will run on our L2 - which is not a blockchain, but aims to solve scalability and interoperability from first principles. We are connected to 8 underlying chains both EVM and non-EVM, using a WASM runtime environment and native bridges. The connected blockchains are BTC, ETH, BCH, LTC, EGLD, BNB, MATIC, and KUJI; and we are able to unilaterally integrate more chains at a target rate of 1 new blockchain per month. At our most recent peak, Coinweb was responsible for over 7% of all transactions on the Bitcoin Cash network. The Coinweb Protocol will enable many new uses cases as dApps can seamlessly switch between L1 chains using our blockchain routing system at will, guaranteeing 100% liveness by leveraging the capabilities of our Reactive Smart Contract technology and deterministic computation protocol (Refereed Delegation of Computation) for proofs which needs only one honest node to maintain L1 security to L2, and does not require any additional consensus layer. These are a few of the top highlights of this project.
Coinweb is currently ranked #382 overall and #15 in the Bitcoin Ecosystem on Coinmarketcap, and #298 on Coingecko (at the time of this writing).
Our vision to make blockchain tech accessible to wider adoption will be achieved through ease-of-use design and no-code solutions that provide practical usability via high throughput transactions. Upon mainnet launch (TBC, Q4 2023) we will implement Coinweb Labs which in collaboration with our partners, will be mandated to offer funding to build new projects on our technology stack and grow the DeFi ecosystem. Although Coinweb is currently in a permissioned state, it will grow into a more decentralized network once we have achieved certain security milestones. This is a project that is being built from first principles, and does not utilize any forks of currently available code. Our light client and SDK will be based on cluster computing protocols utilizing the Kubernetes system.
Coinweb was founded in 2017, and came out of stealth at TGE which was held on VLaunch on 29th Decemeber, 2021. The project sold 0.3% of supply to the public and 2.55% to private sale. Up to that point, we were self-funded by our founders and have since been funded by notable strategic partners such as KuCoin Labs, Gate.io Labs, Morningstar Ventures, Skynet Trading, Shima Capital, and the list goes on. All privately funded tokens including the team and strategic partners (with the exception of liquidity provision on CEXs) have been subject to a 1-year cliff and 3-4 years vesting. A detailed description of our tokenomics can be found at the link below, and a reserve declaration for company-affiliated wallet allocations can be found at the following links: https://coinweb.io/files/Tokenomics.pdf https://medium.com/@Coinweb.io/coinweb-prioritises-community-trust-with-transparent-reserve-allocation-ce14063b6fa9
As for a broad review of our operations, we have grown to 130 team members (80 of which are developers) with headquarters in Bangkok, Thailand and have spent approximately $16M to date. This might be seen as our biggest weakness, as the project has spent so much and has considerable overhead within our headcount, which has not yet been able to release a public-facing product over such a long period of time. However, our valuation is not inflated; and we have been capable of generating a significant amount of revenue entirely from our enterprise services. Our largest active client is BMW (Thailand), who have currently opted to write their loyalty points program data down to BNB chain. We are currently holding a pre-series A equity raise to accelerate the velocity of our products to market, and can expect to see rapid growth and income from Layer 2 fees and exchange fees - not including the profits are anticipated from investments in our ecosystem development via Coinweb Labs. Our community is about 50k members on our official Twitter account, and approx. 14k members in our Telegram. The project maintains regulatory licenses in 8 jurisdictions including the UK, Ireland, Canada, Poland, Lithuania, Estonia, Hong Kong, and Singapore. We currently have a non-custodial (stays in your wallet) staking program for the duration of the pre-mainnet epoch, which was implemented at the request of our community and serves as a proof-of-concept for one of our proprietary technologies: Reactive Smart Contracts. RSCs are different from standard smart contracts in that they are deployed on neighboring blockchain shards and are able to hold their own token balance to continuously monitor their underlying L1 blockchain transactions at the account-level of granularity. The are currently over 700 participants in the staking program who have pledged a total of over 270 million CWEB tokens. These ERC-20 tokens will be automatically converted to L2-native CWEB tokens at the launch of our mainnet.
The project has recently launched a Zealy questboard community, where anyone is able to learn more about Coinweb, contribute to the community and apply for early access to our Alpha Wallet Tester Program. https://zealy.io/c/coinweb/questboard Show Less
