YouHodler Quarterly Review: Q2 2022
From a market perspective, the second quarter of 2022 was dramatic, to say the least. Prices across the board plummeted as the world entered a recession. However, if you look past this one negative element, there are plenty of silver linings found in Q2 2022. Especially for us at YouHodler. It was a quarter of progress, adaptation, and education. For those that follow our blog closely, you already know but for everyone else, let’s take a few minutes to reflect on this Q2 review.
2nd quarter reflection
The cryptocurrency industry moves very fast. YouHodler is no exception to this fact. The multi-faceted parts of our evergoing ecosystem grow at various rates. Sometimes, we lack the proper time to appreciate all our accomplishments. So, let’s zoom out and reflect on everything that made Q2 so historic.
YouHodler hosts first Metaverse crypto “treasure hunt”
The second quarter of 2022 started with some fun and creativity. In collaboration with the Decentraland metaverse. YouHodler created a fun, three-day “treasure hunt” that allowed participants to win up to $30,000 worth of MANA tokens. Secondary prizes were also available.
Throughout the event, participants tested their cognitive abilities in a virtual escape room-style game. YouHodler structured the game uniquely so that the experience included cash prizes and a fun, engaging adventure set inside the metaverse.
After the Treasure Hunt, YouHodler interviewed the top three winners and delivered their prizes. For us, it was our first collaboration with the metaverse. Our community loved it and so did we. We can’t wait to do it again soon!
Green Metaverse Token (GMT) listing
With so many new coins entering the market each month, it’s hard to tell which ones have long-lasting potential. However, after some research, it’s easy to see which projects offer something unique and innovative. Green Metaverse Token (GMT) is one such project.
In April, we listed GMT thanks to the numerous requests from our clients. We’re happy to say it was a big success and the interest in GMT continues to grow. GMT is the governance token of STEPN which calls itself a “move-to-earn” health and fitness app. On the STEPN app, users buy virtual sneakers -- represented as NFTs. Then, the users go outside and participate in real exercise (e.g. walking, jogging, basketball, etc.) and earn crypto rewards for the steps they take.
For the first month, we offered a yield percentage of 20% APY on all GMT deposits. Similar promotions on future coin/token listings will come again. So keep your eye on all social channels for our announcements.
YouHodler attends Web3 conferences in Paris and London
I think we can safely speak for everyone on this. The best part of Q2 2022 was the return of safe socializing. Gone are the days of Zoom conferences and digital meetups. Live and in-person crypto events came back in a big way this quarter and we were extremely happy to attend some of them.
Youhodler attended the Paris Blockchain Week Summit for the first time this year as a Gold Sponsor. Aside from attending and networking, our CEO Ilya Volkov took the stage as a panel speaker on the topic of “The Rise of Decentralized Finance”
CLICK HERE to watch the full panel discussion.
Over 3,000 people attended the event which included 250 speakers, 100 media partners, and 70 sponsors. YouHodler also had a large booth on the main floor. Here, attendees could meet the YouHodler team, buy branded merchandise and even get $50 for simply taking a selfie with the YouHodler team.
With a twist of irony, the event took place in the former home of the French stock exchange. It was a great event and we were proud to see the industry maturing in such a productive manner. Meanwhile, just 465km northwest of Paris, YouHodler’s Affiliate Department represented the company in London.
The London ExCel convention is an international affiliate marketing conference hosted by iGB Affiliate. YouHodler joined with some of the top names in the affiliate marketing community for three days of networking and discussions. YouHodler had a large booth there where attendees could hang out, talk with the YouHodler team and establish genuine connections.
Again, we are so happy to see live conferences coming back and looking forward to attending more in Q3 of this year.
Solana (SOL) joins the YouHodler family
Solana (SOL) was another notable listing during the last quarter. For crypto enthusiasts, Solana needs no introduction. The number one competitor to the Ethereum blockchain experienced significant growth in 2021 and 2022 due to its efficient scalability and high-quality selection of decentralized applications (dApps). YouHodler listed SOL so our clients can use this token in more creative ways such as crypto-backed loans, Multi HODL, yield accounts, crypto exchange, and Turbocharge.
Regarding the news, YouHodler Head of Partnerships Vaida Saltenyte said
“This is an inspiring listing. Solana is one of my favorite projects out there and its mission is in line with YouHodler’s goal to provide a more efficient and flexible method to use cryptocurrency. Solana is a highly functional blockchain and we are happy our clients can discover new ways to HODL, trade, and multiply SOL on our platform.”
YouHodler welcomes new innovators to the Canton of Vaud
We are an international brand and we will keep expanding to new locations as much as possible. That being said, we still love to support our local community and nurture innovators for the future of this great industry. In May, YouHodler CEO Ilya Volkov attended the annual “Members Meet Newcomers” event hosted by Innovaud.
Innovaud is an innovation and investment promotion agency in the Canton of Vaud of which Volkov is an ambassador. Every year, Innovaud hosts an event welcoming the new companies that have joined its tutelage. Volkov was there to present a welcome speech and give his perspective on establishing YouHodler SA in the region.
Innovaud is a diverse organization, boasting members from various industries like FinTech, Aerospace, BioTech, MedTech, EdTech, and many more. Regarding this diversity, Volkov mentioned
“It’s nice to see blockchain technology growing out of its niche. No longer is it limited to blockchain-only events and communities. It now stands side by side with some of the biggest industries in the world and YouHodler is happy to be a part of that.”
Clients battle it out for “best Multi HODLer in May”
In May, we had a fun, month-long Multi HODL trading promo that featured close battles between clients all vying for the top spot. Ultimately, it was an Australian bloke that won the grand prize of a new, 16-inch MacBook Pro. The other, nearly 300 participants may have been disappointed but the top five also came away with some cool prizes. It was a joy to see our clients use our popular Multi HODL trading tool in creative new ways. We will continue to have contests like this in the future so don’t forget to sign up.
CLICK HERE to see the prizes and read interviews with the winners.
YouHodler attends and participates in Crypto Valley Conference 2022
This year's Crypto Valley Conference was so majestic, inspiring, and informative, that it’s almost hard to summarize in words. That’s why our summary article from last month was mostly photos! If you haven’t seen it already, go check it out. You’ll feel like you were there -- almost.
In classic Swiss style, CVC 2022 was highly efficient, productive, and intelligent. A large difference from some of those other Bitcoin conferences by the beach. This event did have some socializing but mostly, it consisted of high-level discussions and networking. Over the two-day event, panel discussions and presentations focused on four main topics:
- The Terra (LUNA) collapse and its effect on the industry
- Crypto Regulation
- Yield generation strategies
YouHodler took part in the yield generation strategies portion of the event with Ilya sitting in on a panel discussion. Ultimately, we concluded that the banks will not raise interest rates for several years due to the current recession. Hence, you need to be careful where you put your money. Returns will be conservative so investors need to be smart and realistic.
Still, compared to traditional fiat instruments, crypto is much more efficient and innovative when it comes to yield generation strategies.
Concluding the event was a floating afterparty, sponsored by Bancor and YouHodler. Two boats whisked CVC attendees away for a sunset cruise filled with good food, plenty of drinks, and amazing photo opportunities. Here are a few:
What happened to Celsius Network: The Aftermath
The aftermath of what happened to Celsius Network is still resolving itself. What happens, in the end, remains to be seen but so far, we can surely say a large impact has occurred in the industry. Many clients came forward and asked us if they should be concerned. So, Ilya went to CoinTelegraph to address questions in a public ask-me-anything (AMA).
First, Ilya was sure to announce that YouHodler is not exposed to third-party risk like Celsius was and other lending platforms. YouHodler is very much a self-sufficient platform. Hence, client funds are never placed under anyone else’s management. That is the main difference between our business model and Celsius.
Further fears piled up about YouHodler’s ability to survive the current crypto bear market. Putting an end to those fears, Ilya clarified that bear markets are:
“A nice time to prove that everything is up and running. We have a sustainable business model, we have proper risk management.”
While the current climate is causing YouHodler to make some temporary adjustments (e.g. lowering yield rates and reducing the maximum amount that clients can earn interest on), these adjustments will help with longevity and sustainability during tight times like these. Furthermore, Ilya wanted to stress that we have no connection whatsoever to DeFi protocols in terms of staking, farming, pooling of customers funds there. A source of great financial risk for many of our competitors.
CLICK HERE to watch the full AMA on CoinTelegraph
Plans for the future
Segueing from the last paragraph, we do realize the crypto winter is hard for many of you. Yet, keep in mind this is not only in crypto. Other asset classes are struggling at the moment as inflation continues to rise and chants for a long recession get louder. However, even in bear markets, YouHodler can help now and will develop more ways to help in the future.
In Q3, we plan to release some new features that will help passive and active crypto investors alike use their crypto in innovative and sustainable ways. We are staying true to our mission of building a bridge between DeFi and CeFi. This new feature will help clients unlock the benefits of DeFi yield percentages without having to participate in staking pools linked to third-party dapps.
We will also continue to improve our core features to help you swap assets, get cash without selling crypto, and utilize market volatility in both bullish and bearish markets. Yes, the returns may be more conservative in these times but the opportunities are still plentiful now.
We hope the situation will start to recover in Q3. Until then, continue to HODL and make your crypto work for you.
Top 5 blog posts of Q2
To leave you on a brighter note, we published some fascinating educational content on the YouHodler blog in Q2. Here are the top five for you to review. Thanks for reading and see you around!