Q2: A Journey of Struggle and Progress at CoinMarketCap – A Letter From Our CEO

From Carylyne Chan, CEO

Expensive CoinMarketCap Group,

It’s been three months since our closing letter to you with the large information about our acquisition, and I’d love to proportion some ideas about how we’ve been faring on this previous quarter. As one of the key entities within the crypto house, we’re cognizant of our place and I would like to check out to be as clear with you as we expand and advance.

This quarter, our group made nice development in each solving problems that we all know had been plaguing us for a very long time, and making an investment in leading edge new options we are hoping will construct the root of the following section of CoinMarketCap.

Higher Ratings

First of all, we released our new marketplace pair rating and change rating. The original problem of being CoinMarketCap is threefold: (1) We want to construct answers which can be appropriate to all marketplace pairs and exchanges on CoinMarketCap, (2) We wish to create answers which can be statistically sound and provable, and (3) They want to be clean to grab.

The brand new ratings are an effort within the making for the closing two years at CoinMarketCap. We’ve carried out the important information science and analysis to first create our Liquidity Metric and Ranking, and we have now now generalized those into a brand new Self belief indicator that correctly applies to all marketplace pairs and exchanges. For me, it is a small dream come true — now, excuse me whilst I quietly shed a tear :’)

Socializing on CoinMarketCap

This quarter, we additionally prolonged CoinMarketCap accounts directly to our website online, which lets you save your watchlist (by no means lose a watchlist whilst clearing cookies once more!) and select a username on CoinMarketCap.

We released our new CoinMarketCap Chat, which has necessarily grew to become CoinMarketCap from a one-player price-checking enjoy right into a multiplayer enjoy the place you’ll chat with friends all over the world about charge actions. Chat has develop into an essential component of CoinMarketCap, with the characteristic changing into one of our best 10 most well liked options throughout the first week of release.

To mark the release of Chat, we’ve additionally run two AMAs up to now with Charlie Shrem and Roger Ver (who gave out rather a lot of BCH throughout the AMA) and will proceed to take action over the following few months. Don’t pass over your probability to engage are living together with your favourite crypto celebs without delay on CoinMarketCap — bookmark the agenda right here.

Over the years, we will be able to proceed so as to add extra social and interactive options to CoinMarketCap, so you’ll want to reserve your required username earlier than any person selections it earlier than you!

Bettering Our Knowledge

Except for making the enjoy on CoinMarketCap much more immersive, we’re making improvements to the center of CoinMarketCap as neatly, by way of refactoring so much of our backend infrastructure and information assortment techniques to make sure that you still get the most efficient information on CoinMarketCap.

One of the highest requests is for CoinMarketCap to replace costs sooner and extra mechanically, and we’re operating to ensure that can be conceivable within the close to long run.

Having Extra A laugh General

Who can put out of your mind the gorgeous curves that CoinMarketCap unveiled on April 1 early within the quarter?

We additionally arranged a digital BBQ birthday celebration for the CoinMarketCap model on our 7th birthday, and accrued some selection cuts on this web page. The highest remark may be by way of none instead of our first AMA visitor at the brand-new Chat product, Charlie Shrem.

All in all, our group continues to show off that it’s conceivable to paintings tough and do severe paintings whilst nonetheless having amusing! If you have an interest in becoming a member of our group, we actually have a quantity of open positions at CoinMarketCap we’re hoping to fill with the best applicants.

For the reason that it is a new technology for CoinMarketCap in its enlargement, I’m excited to guide the group with new approaches that I consider will be sure CoinMarketCap continues to develop with the crypto trade and with you, our consumer, in thoughts.

Consistent Iteration, Consistent Growth

CoinMarketCap has at all times caught to launching merchandise as top constancy and as on the subject of being absolutely fleshed out as conceivable, which means that we in most cases take a long time to send new issues on our website online or app.

To make sure that we will be able to stay tempo with our repeatedly evolving trade, we’re adopting a brand new iterative solution to send preliminary prototypes at the website online as briefly as conceivable. As soon as those preliminary merchandise, or minimal viable merchandise (MVPs), are out within the wild, we collect comments from our customers to give a boost to the following variations, iterating it into a greater shape.

General, this consistent cycle of development will have to get you new merchandise that you just’re occupied with briefly, and lend a hand us to serve you higher, together with your comments about those merchandise in hand. A fresh instance of a snappy release contains our new DeFi web page, which we’re now already operating on bettering.

Responding Immediately With Higher Merchandise and Methodologies

As an extension of the main above, we’re operating to be as responsive as conceivable to consumer comments by way of no longer simplest figuring out product utilization, however in fact collecting structured comments as neatly. We’ve run a couple of surveys on our website online and social channels (thanks all who’ve participated!) and are the use of those responses to craft our subsequent enhancements at the website online.

As opposed to ensuring that we solution as many of your questions about our social and beef up channels as conceivable, we’re specializing in designing answers inside of our merchandise and methodologies to deal with them essentially as neatly. You are going to see extra adjustments and enhancements being made to the website online/apps and our technique within the coming quarter as we proceed to include your comments.

Simplify and Streamline

Remaining however no longer least, we wish to proceed retaining the enjoy on CoinMarketCap as easy and streamlined as conceivable. When CoinMarketCap began, it was once only a web page with a couple of cryptoassets ranked by way of marketplace cap. Over the past seven years, we’ve expanded to many different sorts of information and content material because the trade moved and advanced.

CoinMarketCap circa 2019

Over the past two years at CoinMarketCap, I’ve in my opinion released a large number of merchandise with our group, however we’re now achieving some extent the place we want to make those merchandise tie in combination elegantly and paintings in combination successfully. To ensure that us to meet our imaginative and prescient of “showcasing the crypto revolution,” we now want to make our information and merchandise easy, discoverable and easy-to-adopt — one thing that I do know many of us as customers of CoinMarketCap want to see, sticking to the unique “easy” design ethos whilst nonetheless exhibiting an an increasing number of complicated set of data.

Over the following quarter, you’re going to see many adjustments we’ll be making to give a boost to your consumer and surfing enjoy on CoinMarketCap. We welcome your ideas about how we will be able to give a boost to on integrating all our merchandise in combination, and hope you’ll stay sharing your ideas in regards to the adjustments we’ll put at the website online and apps!

To apply up on a couple of guarantees that we made in the past — first, we have now soft-launched our self-reporting dashboard for tasks, an idea we first offered as phase of our Knowledge Responsibility & Transparency Alliance. More and more, we will be able to be operating with tasks and exchanges to self-report many extra information issues to make sure that you, as a CoinMarketCap consumer, will be capable to have the entire data at hand when making your individual choices about what to business or the place to business. The self-reporting dashboard can be rolling out in complete power inside of this subsequent quarter.

2nd, I discussed having extra techniques to engage at the website online with further tags, upvoting/downvoting and extra. This remains to be within the works, and we proceed to construct off the again of our a hit accounts and chat launches to determine a solution to make those movements much more amusing and attractive for you as an finish consumer.

Any other pertinent theme for us within the following quarter is to make sure that CoinMarketCap can satisfy its position within the crypto neighborhood by way of bringing extra consciousness across the problems within the house. We released an MVP of Headlines, a news-focused product this quarter, and will roll out an advanced model of it very quickly that may make your studying enjoy much more fulfilling and informative.

Past simply operating throughout the crypto house, we are hoping to lend a hand us all throughout the crypto neighborhood to “move the chasm” to a bigger majority of customers on the earth with our persevered center of attention on partnerships and content material. As you recall, we have now introduced crypto information to Yahoo Finance, and we will be able to proceed to make sure that extra of what we do touches a good wider target market in the market. There are a number of thrilling updates on this sphere which we’ll announce quickly, so you’ll want to stay your eyes peeled!

On the middle of it, our whole group remains to be devoted to bringing our imaginative and prescient of showcasing the crypto revolution to existence. Unquestionably, there were questions and skepticism about CoinMarketCap’s position in crypto after our acquisition, however the group at CoinMarketCap continues to stick the direction in what we consider in — making crypto as an trade and an asset elegance extra discoverable and extra environment friendly, and doing the whole lot we will be able to to verify we proceed to be a power for excellent within the crypto neighborhood.

The adjustments I’ve defined above had been hard-fought and a big phase of our group has been operating 12-16 hour days to make sure that we will be able to proceed to send those new options and enhancements to you. However what assists in keeping us all going is to end up that CoinMarketCap can proceed to construct what we consider our customers want, and the encouragement and comments from our customers has been gas when issues get difficult round right here.

As at all times, I beg your skepticism and your optimistic grievance, and simplest time and our new and renewed efforts to construct CoinMarketCap to develop into a greater model of itself will inform. Till then, succeed in out to us on all our channels — our doorways are open, and we’re at all times happy to listen to from you, although it’s to name us out. Let’s construct the longer term of our crypto revolution in combination!

Sincerely,
Carylyne