The year 2022 is coming to a close. Yet, that shouldn’t overshadow the monumental strides the YouHodler community took over the past few months. Seemingly against all odds, YouHodler realized new innovative possibilities for the already thriving FinTech industry.
So, before we hustle into the holidays at full speed, let's take some time to reflect on Q4 and appreciate what we all did together.
To revive credit demand and help stimulate a crypto economy battling intense selling pressure, YouHodler reduced crypto lending rates and loan fees for all cryptocurrencies.
Except for the coins listed in this article, we reduced crypto lending rates on every coin from 20% to 11%. A certain number of special coins saw an even greater drop to rates of 2 - 6%. In addition, all daily loan fees were adjusted to around $0.01.
Commenting on the announcement, YouHodler CEO Ilya Volkov stated
“In a world where lending rates remain stagnant or even increasing in some cases, YouHodler wanted to provide some relief. The goal here is to offer more attractive lending options for our clients who want instant access to fiat currency without having to sell their crypto assets in this current bear market.”
Perhaps the biggest announcement in Q4 came in this tell-all interview from Ilya Volkov. In the interview, Ilya outlined his vision for YouHodler and the crypto industry on the whole.
To paraphrase, YouHodler wants to bring numerous, beneficial financial services from the traditional world over to the digital world of Web3. To do this, it will build smooth and easy-to-use bridges that serve as the foundation for a Web3 banking platform.
A Web3 bank does not only choose fiat or cryptocurrency. Instead, it allows one to harness the power from both sides. YouHodler’s web3 bank will include:
If you missed the article, we highly recommend you check out the full interview at the link above to see what’s coming soon for YouHodler clients everywhere!
Time flies when you’re innovating! We still can’t believe it’s been four amazing years with you all. We’ve loved every minute of it and we recognize it’s not possible without our loyal community of HODLers.
So to commemorate this joyous occasion, we gave a birthday gift to you: new bonuses and an improved referral program. There will be more details concerning this announcement very soon so stay tuned.
In the meantime, CLICK HERE to check out our journey over the past four years.
The FTX exchange collapse has been discussed in every which way. Everyone has heard enough. However, we still felt we owed it to our community to produce a response.
In a blog post last month, we highlighted the following key points:
We want to make it clear that we have a positive outlook on the market. We also want to make it clear we do not support FTX’s strategy or will ever do that to our clients.
We will continue building a sustainable, transparent, and user-friendly platform to help you all benefit from traditional and crypto financial opportunities.
Given the way this quarter has gone from a market perspective, we wanted to remind our clients that security remains a top priority of ours. Hence, this reminder that we’ve had free cold storage solutions since 2020 via Ledger Enterprises should put your mind at ease.
Some further points to consider:
Rounding out an eventful quarter at YouHodler, we finished with another positive announcement. On December 13th, YouHodler officially announced it's joining the Association for the Development of Digital Assets (ADAN). ADAN is the largest grouping of cryptocurrency companies in France.
Regarding the announcement, Adam Gelineau, Head of YouHodler France stated:
“We are thrilled to join ADAN as a new member. ADAN represents reputable companies in the digital asset and blockchain technology sector and they’ve made it their mission to promote the development of players in France they are clearly in a position to weigh in on industry discussions in Europe. We know we are in good company with ADAN and their other members, which includes several thematic groups of trusted experts, and look forward to a long, sustainable relationship.”
For those that want the full recap on the year’s accomplishments and news, check out the previous quarterly reviews:
Now, let’s look at some stats to show how much we’ve grown over the past 12 months.
Despite the volatile market, YouHodler saw consistent growth in registrations (+42%) and active users (+50%) in 2022.
Total platform volume reached an all-time high of $1.326 billion in 2022. Up 377% from the previous year.
A few other notable statistics:
To see more YouHodler historical statistics, visit our stats page HERE.
Lastly, we at YouHodler want to say Happy HODLdays and Happy New Year to our growing community. We thank you for your constant support and we are so excited to bring you new features and an improved all-in-one app in 2023.
Take care and keep HODLing!