Monthly Recap: August 2023
Written by Christian
Posted on August 31st, 2023
All of the most important things that happened at token HQ in August 2023.
Token Takeaways ✍
✨ The token.com Explore screen has had a revamp to make discovering and commenting on tokens easier than ever.
✨ token.com surpassed $1 million in trading volume this month as we welcomed new token adopters and experts on our journey.
✨ The app will soon support USD purchases as we prepare to expand for a more global audience.
Time seems to move at a different speed in the world of tokens, and the summer months have flown by. August was another eventful month in the ecosystem. Key events included Layer 2 chain Base’s launch (and the ensuing hype surrounding friend.tech) and an exploit on DeFi mainstay Curve Finance, while several firms submitted Ethereum futures ETF applications.
We’ve also been working hard on shipping over the last few weeks. This month marks one year since we officially launched token.com in Brazil. Yet development hasn’t slowed down. We’re pretty stoked with our latest features, which you can learn about in our round-up below.
Token exploring made easy ✌
We may be biased, but we think our Explore screen is the world’s easiest way to discover tokens. And we’re even more convinced of this since we overhauled this section.
The Explore screen lets you browse token projects in Collections. It also features new navigation tabs to help you find tokens by categories like Entertainment, Web3, and more in a few taps.
Our live news feed is also getting an update, as we’ll soon be opening it to allow social posts from all of our token explorers. Tracking what’s happening in the token economy and sharing your token perspectives is about to get even easier.
We’re also working to help you follow your token activity. Look out for our new Transaction History feature, which will show all of your token trades in one place. Alongside our Explore Screen updates, we’re rolling this one out to make your token journey simpler and more intuitive.
Hitting major milestones 🥳
We celebrated our first anniversary this month, having launched the first iteration of the app in Brazil back in August 2022. But that’s not the only milestone we hit.
We also crossed $1 million in trading volume, which feels like something to shout about given the current state of the token market. Token trading volumes have been at lows since we launched a year ago, so we’re thrilled to see that token explorers are still joining us—and they’re actively buying and selling tokens when they do.
They say that hitting the first $1 million in business and investing is always the hardest. To hit this milestone when confidence in this technology is waning is a huge win. It tells us that people love the token experience we’ve created.
We also know from the number of new token adopters we’ve welcomed that we’re on the right track. On 30th August, we hit an all-time high in new token.com registrations despite the relatively quiet market climate. What’s more, a big chunk of those customers have already completed onboarding and begun exploring the token universe through our app.
With all of this in mind, we feel safe in saying that interest in token.com could soar once tokens are back in vogue. Thank you and congratulations if you’re with us today—the story is only just beginning and you’re a big part of it.
Tokens for a global audience 🌍
The token movement is global. So it makes sense for token.com to cater to a global audience. With this in mind, we’ll soon be adding the US dollar as a currency option for buying tokens through PayPal. The dollar is the world’s most widely used currency with adoption across the globe. Many token explorers will more easily be able to support their favourite projects once it’s live in the app.
That’s not all we have on the horizon. We’re also excited to launch new featuers that will focus on educating our community about tokens in an engaging way and reward our loyal customers. We’ll have more to share on this in the coming weeks.
Learn more 👀
That rounds out August 2023. All in all, we’ve made some nice improvements to our offering. And we’ve hit a couple of milestones we’re pretty proud of. But we’re just as hyped for the road ahead. One year down and many to come, token.com is already supporting the next generation of token explorers. We look forward to building and expanding as the token economy grows.
Please note: Investing in cryptoassets is risky. Due to the volatile nature of the cryptocurrency market, investors run the risk of losing their funds when they make an investment. Returns from cryptoasset investing are not guaranteed, therefore users should always be aware of the risks.