From stablecoin to the largest P2P lending platform in Southeast Asia — our year in review
Crazy to think we’re already through our first year ‘round the sun.
A lot has happened in one year. We started in January as a humble stablecoin on the Ethereum network. Then ended the year as one of the fastest-growing fully-secured P2P lending platforms in the world.
And we couldn’t have done it without you.
Every day we listened to what you had to say. On Twitter, on Facebook, in emails, in our Telegram community. We listened and tailored Constant to be something you want and trust.
So from all of us here at Constant — thank you.
And as the new year starts, we wanted to take a moment to reflect on everything we’ve been through together, and for our newer members, tell you a bit about our journey thus far…
What you helped us achieve in 2019
In January 2019, we launched Constant (CONST), our USD-backed stablecoin, at the Consumer Electronics Show (CES 2019) in Las Vegas.
Constant was our answer to the inefficiency of conventional money. We wanted to make money that was borderless, secure, and instantly transferrable to anyone, anywhere, for near-zero cost.
CONST offered the stability of the world reserve currency (USD) and the efficiency of a digital one, meaning everyone could own a USD account — no matter where you lived.
But stability and efficiency weren’t enough. We knew that people also had financial goals — they wanted to grow their money, to get cash when they needed it. We saw an opportunity to help people do more with their assets.
So, after months of work, we officially launched P2P lending in April — an opportunity for investors to earn secured returns of up to 9% and borrowers to unlock the value of their crypto without selling up.
We launched the world’s first real-time open order book for P2P lending: Constant Pro.
With Pro, you get a behind-the-scenes view of our lending market and a host of free trading tools and charts to help you devise and implement trading strategies with ease.
Importantly, Pro lets you pick the best rates in the market for a guaranteed match — no waiting, no unknowns.
We officially matched over US$1,000,000 in loans on our P2P lending platform. We never expected to grow so quickly, but with your overwhelming support, we were able to develop the platform much faster as a result.
We launched Flex — a fully secured lending pool where you earn 5% APY on your active balance and can withdraw anytime for free. This means no downtime for investors — you start earning the moment you deposit, compounded and paid every second.
When you’re not investing for 9% returns on our platform, you can choose to store your funds in the Flex lending pool to earn interest or in Prime Trust, an accredited US custodian insured to $130,000,000.
On November 4th we announced our staking service. Starting with TOMO, PRV, and XZC, anyone joining our staking pool can earn up to 100% interest, paid every 30 minutes. Starting stakes are low, so virtually anyone can participate, and you don’t need any extra hardware or bandwidth.
Staking means better rates on loans, too. Borrowers who choose to stake their collateral can reduce rates by as much as 6%.
Finally, we had the pleasure of presenting at the Singapore Fintech Festival 2019. We gave out free promo trials for our investing platform, met with you all and made lasting connections with partners like Wanchain, Fantom, and SingularityNET.
We announced our first wallet integration with Bacoor Inc.’s HB Wallet, the largest ETH wallet in Japan.
We attended Crypto Trends 2020 in HCMC hosted by HB Wallet.
And we announced Bitgo protection for all non-ETH collateral on our platform insured up to US$100 million. While all ETH on our platform is still securely stored in smart contracts on the network, we wanted to provide greater peace-of-mind to customers borrowing with our other cryptos.
Also of note:
We’ve added more than 60 coins to our platform:
TOMO, BTC, ENJ, ETH, ELF, BEAM, REP, BNT, BND, BAT, BNB, BTT, CELR, CVC, MANA, DCR, DGX, DGD, ETC, ENG, FTM (ERC20/BEP2), FET, GTO, GNT, ONE, HOT, HT, ICX, IOST, MIOTA, IOTX, KCS, KNC, LRC, MCO, MATIC, MTL, MITH, MTA, NANO, NEO, NULS, NAS, OKB, OMG, ONT, PPT, POWR, NPXS, QKC, REN, XRP, XNT, XLM, STORJ, TOMO, XTZ, ZRX, USDT, VET, WTC, WAN, XZC.
And we have appeared in some of the industry’s leading publications:
In 2020, we hope to keep adding features and partnerships to bring you the best service possible.
We do, however, have one request for you…
Keep talking to us. Keep telling us exactly what you like and what you want to see change. Because we believe our most important feature is you.
From the bottom of our hearts, thank you and have a happy New Year.
The Constant Team
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