Sorry for the late release! May was a very busy month for everyone at Crowdholding, here’s the official update from us in regards to what happened in May, so without further ado let’s get started!
What you will find in this update is:
• Crowdholding growth stats from May
• Dividends announcement
• Development updates
So here’s the breakdown and stats for the month of May:
893 new users signed up to Crowdholding platform, which is an average of 28 per day.
31 tasks were published on the platform, which works out at one new task for every day of the month.
5 new projects joined the platform.
The growth stats for May are very similar to the growth stats for April, apart from the difference of the amount of upvotes / comments has increased by around 30%, meaning that users are reading other users comments and engaging more with the platform.
This month we had 2 articles / press releases on other platforms which has boosted the awareness of our platform, you can click on the articles below and have a read.
CryptoShib article - “Have you heard about the YUP? You should!”
A Video interview between ViableToken and Ethan and the writeup of the interview.
On top of that we have added our widget to two other projects, which is increasing the traffic to the website as well. We will continue to add the widget to other projects to keep increasing the network effect bringing more and more new users to Crowdholding.
The YUP buy button so far has been a huge success. Since adding the button, we have had a higher trading volume this month with the button than the entire of 2019 so far without the button, we are expecting that this will continue to increase our volume especially with the market starting to pick up.
Dividends Announcement and payout
Earlier this month, we announced that we will be giving out dividends to YUP token holders every month. Distributing dividends to the Crowd has been part of our mission from the start.
Crowdholding takes a 10% cut of any transaction on the platform, and now, half of that cut will be redistributed back to our users. Below you can see how it works.
Total dividends = 50% of cut
Total participants = YUP holders and leaderboard users
1 unit = Total dividends / Total weighted participants
Projections based on current token holders:
[15%] Tier 1 Group: >top 20 Leaderboard (May): 0.25 unit
[6% ] Tier 2 Group: >50,000 YUP: 0.25 unit
[18%] Tier 3 Group: >250,000 YUP: 1 unit
[60%] Tier 4 Group: >1,000,000 YUPS: 5 unit
A total of 5% of the 500K YUPs was given out as dividends. You can see the results for the tiers:
Tier 1 Group: >top 20 Leaderboard (May): 78 YUPs
Tier 2 Group: >50,000 YUP: 78 YUPs
Tier 3 Group: >250,000 YUP: 313 YUPs
Tier 4 Group: >1,000,000 YUPS: 1,566 YUPs
Although it’s fair to see the results are not big numbers, this is the first step to begin increasing this month by month. The more tasks, the better the volume. For those who are interested in past months total rewards given out, here is the list starting in January:
January: 280K YUPs; 25 tasks
February: 200K YUPs; 31 tasks
March: 150K YUPs; 22 tasks
April: 500K YUPS; 32 task
May: 500K YUPs; 30 tasks
Keep in mind, you will also see some altcoins show up in your profile from these dividends, but we decided not to showcase because these rewards are minimal. It will be important to keep recruiting and improving the altcoin rewards on CH going forward.
Although the development team were mostly occupied with setting up the dividends, there were some changes to the platform.
1. Users can now be contributors
We have a new development on our platform. User can become a contributor to place their own tasks! This can be done by topping up YUPs in the new admin console.
You can do this by clicking on the “get listed” in the top right hand corner.
So far we have had 8 tasks from 4 different users and we expect this to grow in the foreseeable future
2. Admin top ups and Paypal.
Now you are able to change wallet addresses as there can be multiple admins to one project, this means that admins are now able to top up their YUPs and don’t rely on the initial address the YUPs were purchased with.
Also for ease, we added the ability to purchase YUPs with USD through PayPal.
We are constantly striving to improve the platform and increase our awareness, we will update you with what we will have been working on in June and the results! Until next time stay classy Crowdholders!