Letter to PRV Holders (Apr 2020)

To PRV holders:

Hope you guys had a good April. Thanks in large part to you, Incognito continued to grow – in traction, engagement, and adoption.

Here’s how April went for Incognito.

View PRV Holder Presentation April 2020 >
Review development progress >
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Let’s start with our 2 key metrics.

Monthly shield volume: $1.81M

+372% growth month-over-month

For April, we set a goal range of $400K to $500K shielded (25% to 57% month-over-month growth). We exceeded that. The shielding process – turning a public coin into a privacy coin – is the first step users need to take, in order to enter the Incognito ecosystem. $1.81M of crypto in 85 different currencies took that step this month (+372% month-over-month growth).

Our total shield volume to date is $3.54M. Here’s a broader look at Incognito’s progress, starting from mainnet launch in Nov 2019.

Screen Shot 2020-05-05 at 6.19.29 PM

Validator ecosystem: 316 new validators

+144% growth month-over-month

This month, we focused on making it more accessible for anyone, anywhere in the world to help power privacy. Most notably, Node Pool increased the number of validators by almost 12% – in its very first week.

We aimed to bring 300 Nodes on board. This month, the Incognito network saw the addition of 316 Nodes (144% month-over-month growth), bringing the total number to 1491. The following chart details the growth of the validator ecosystem.

Screen Shot 2020-05-05 at 6.19.56 PM

PRV: $0.67

+68% increase month-over-month

It’s been a good month for PRV. Incognito’s native coin enjoyed stable growth, in comparison to the wider volatility of the market. At the time of writing, PRV is $0.67. Its price increased by 68% this month, and is currently up 670% since mainnet launch.

Screen Shot 2020-05-05 at 6.20.23 PM

Incognito DEX liquidity

+840% growth month-over-month

Thanks to a spike in liquidity contributions from the community, It is now easier than ever to join the Incognito economy. Thanks to the liquidity rewards initiative, the total value held in DEX pools is now $2M+.

Screen Shot 2020-05-05 at 6.21.00 PM

April highlights

In addition to our main utility metrics, both the core team and community improved and built upon all elements of the Incognito project. Here are some highlights.

Interoperability: Portal v2 is live on the testnet, and the Bitcoin trustless bridge is working well.

Privacy: Privacy v2 is in unit testing. This improvement to Incognito’s privacy layer will include one-time addresses and confidential assets.

Web: The first community created website is live, created by @raz and his team.

Ecosystem tools: @inccry built a beautiful DEX and network explorer, and @mesquka built a clever Node and network monitor.

Funded proposals for May

As we did for April, we will continue to focus on utility. In addition to seeking traction and continuing to launch new products, we’ll also turn our attention to better CX and UX.

Generate strong utility

Expand validator ecosystem by 400 new Nodes
Exceed $650k monthly trading volume on Incognito DEX

Build a strong layer-2 core

Improve Incognito app experience
Improve Node ship times and bug handling

Build a strong layer-1 core

Ship Portal v2 on mainnet
Ship Consensus v2 on testnet
Ship Privacy v2 on devnet

R&D

Dynamic committee size
NAT traversal solution
Portal v3
Node Tree prototype

PRV Holder Monthly Call

The Incognito Core Team will host a webinar to discuss April results, May goals, and any questions you might have.

Date: May 6, 11am EST
Location: https://zoom.us/j/95816202800

So we can make sure nothing gets missed…

Please post your questions as a reply to this topic.

Looking forward to speaking soon. See you around at incognito.org.

The Incognito Core Team

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my new homepage :grin: amazing work by @inccry!

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Wow this is awesome great job everybody! I literally just learned about Incognito about a week ago and I’m super stoked I found it! With the way things seem to be going in the world ( :frowning: ) most likely privacy will become increasingly desirable and necessary for people - especially in crypto.

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It’s awesome to have you here, and thanks for the encouragement! Hopefully we have the best case scenario - the world gets better AND we all get privacy.

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