Progress update for November 2023

Dear SmartPlaces & Cardano Community,

We are thrilled to bring you the latest developments and insights from the world of SmartPlaces. In this monthly update, we’ll dive into the exciting progress and upcoming milestones that are shaping our ecosystem.

SmartPlaces began as an ambitious project with the aim of releasing a minimum viable product (MVP) of our mobile app at an earlier stage, offering just a glimpse of its potential. However, we have set our sights on a far more ambitious app release, and while the benefits are clear, we have encountered some challenges along the way. Introducing new features to a system can sometimes lead to more work than first anticipated. While we’ve gained some extra “white hairs” from this journey, we consider these as signs of experience.

Introducing: Token Dashboard & Staking

We’re in the finalizing stage of what we refer to as the “Token Dashboard.” Whether you have token claims from the GeniusX Multi-ISPO, land plots, or have participated in various community activities, the dashboard will be your go-to hub, including the claiming of token to non-custodial wallets.

The sharing aspect of the SmartPlaces economy is vital. Even in this early stage, we’ve demonstrated this through the Affiliate Program, that allows you to get a share of land plot sales. We’ve also added up to 12,000 tokens to the first 20,000 land plot, ensuring that the Pioneers (land plot holder & early adopters) a token allocation.

The token serves multiple purposes within the ecosystem, e.g. for highlighting a specific post or showing the status of users. If you’re not looking to spend/use the token, you’ll be thrilled to know that staking with lock & earn will be introduced with the Token Dashboard and will be live at the token generation event (TGE).

TGE
We’re drawing closer to the token generation event, also known as the TGE. This marks the moment when the token will be generated/minted. Setting a specific date for the TGE has been a challenge due to market conditions and our ongoing work on (CEX) listings.

However, rest assured that the TGE will take place shortly before the Initial DEX Offering (IDO), with liquidity added accordingly. As of now, it appears that the TGE will occur within the next months in Q1 2024, which aligns with tax considerations and market dynamics.

Stay tuned for updated tokenomics, including full details about lockup and vesting schedules, which will be released in the weeks leading up to the TGE.

Project Catalyst: Fund 10

Our Project Catalyst proposal introduces an innovative approach for businesses to attract customers and enhance foot traffic using location-based incentivized NFTs. This proposal has a firm deadline and must be completed within Q1. We’ve made great progress, and while some final touches, such as user flow, UI/UX enhancements, and integrations, are still in progress, the main components are already in place.

This solution simplifies the onboarding process for businesses, enabling account creation and running specific campaigns, allowing to place location-based NFT at specific locations. We are working on additional featurs, like auth signups, enabling account creation with a single click via specific credentials or other services, in order to be fast, easy, and fully compliant.

Find the full details of our Project Catalyst proposal here.

Affiliate Payments

We’re delighted to share that we’ve successfully completed affiliate payments for October and will complete payments for November within the next days, summing up to 658 ADA.

For those interested in reaping the benefits of our Affiliate Program and becoming a Smart Places affiliate, please check out join.smart-places.io/.

If you don’t want to become an affiliate, you can also earn your rewards by joining our Community on Zealy: https://zealy.io/c/smartplaces/.

As we conclude this update, we want to express our heartfelt gratitude for your continued support and enthusiasm for SmartPlaces. These are truly exciting times, and we’re committed to delivering an exceptional experience as we move forward.

Until next time, stay connected and stay smart!

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