Hey PRV holders:
Incognito has been on the mainnet for a full 7 months now, and we’re glad to report that growth shows no signs of slowing. Increasingly, Incognito is becoming the default privacy solution for many similarly minded folks.
Many of you follow the day to day here on incognito.org, but here’s a broader look at a very busy May.
As usual, let’s start with our 2 key metrics.
Monthly shield volume: $1.88M
Shielding is when a public coin is deposited into Incognito to be anonymized. $1.88M of crypto in 92 different currencies entered the Incognito ecosystem in May. This is perhaps the most significant metric – it indicates that increasingly, people are beginning to choose incognito mode for their crypto.
Our total shield volume to date is $5.36M. Here’s a broader look at Incognito’s progress, starting from mainnet launch in Nov 2019.
This month, we aimed to add 400 Nodes to the Incognito network. We surpassed that goal by 26%. A warm welcome to each and every one of the 504 new Incognito Nodes! As of today, there 1,737 Nodes powering the Incognito network (+30% month-on-month growth).
In addition, many Nodes devices were purchased in the middle of this month. The first batch has been shipped, and the next is scheduled for mid June. When all these Nodes come online, the total number will be 1853.
Incognito DEX volume
pDEX is the first and only way to buy and sell crypto privately. The core dev team built pDEX because we wanted everyone to have a safer way to participate in this new economy. pDEX has been growing steadily, so we set a fairly ambitious goal – $600,000 monthly volume in May (+30% month-on-month growth).
It seems, however, that pDEX is growing 200% faster than we hoped. We saw $1.2M in trading volume in May, a fresh new interface, and a much more streamlined user experience. In June and in months to come, we’ll continue to improve it.
In addition to the metrics above, the team invested significant time and resources in building strong foundations for longer term growth – and so did the community. Here’s a quick look at what’s been built, and what’s in the works.
Interoperability: Incognito mode for smart contracts will launch this week with pKyber. Hello privacy for DeFi! In addition, Portal v2 will ship on the mainnet soon. 85% of testcases have been completed.
Consensus: Zero bugs so far for BFT 1. Testing will now commence for BFT 2.
In June, the core dev team will focus on version 2s of all foundational products. Starting with the new pDEX that launched in the last week of May, we plan to release an improved app, a smoother Node set up, a more flexible and interoperable network, and of course – better QC and CX to both reduce errors and fix bugs more quickly.
Generate strong utility
Build a strong layer-2 core
Build a strong layer-1 core
PRV Holder Monthly Call
The Incognito Core Team will host a webinar to discuss May results, June goals, and any questions you might have.
Date: June 3, 11am EST
Join us! Post your questions in advance here.
Have a great June ahead. See you around at incognito.org.
The Incognito Core Team