HelloGold Foundation Update #5 – 6th December 2017
Business
The second marketing partner for HelloGold is expected to be announced soon. It is one of the largest telcos in Malaysia and in Asia. This follows AEON, HelloGold’s launch partner that has about 4 million customers in Malaysia as well as 100 million customers across Asia. Keep an eye out for this announcement!
HelloGold has added one new member to the team, making the team 27-strong. The new member is Dill, a web designer who will update both the HelloGold website as well as the HelloGold Foundation website.
On the marketing end, higher spending with an improved targeting model is delivering significantly higher customer acquisition rates at target costs. It took HelloGold 3 weeks to go from 4,000 to 5,000 registered customers. This time around it took HelloGold 2 weeks to go from 5,000 to 6,000 registered customers. Gold sales are also up - up by 200% compared to the previous week!
Over the next 2 weeks the focus will be on 'bedding in' the new team members, launching the end of year campaigns and starting to create new proprietary content. The team is also preparing new PR, activation and digital marketing agency engagements to launch in January and in support of a radically revised app sign-up process.
Technical
The following are updates to workstreams currently worked on by tech.
KYC v2. The product team has decided on a phased release approach with the first phase being released sometime in the middle of December and the final release by the end of January 2018. This should help HelloGold customers to understand the app better, and following data from marketing, improve our customer acquisition numbers.
Customer in app tracking. In addition to Android, Adjust and Segment have now been implemented on the iOS platform, providing Marketing with better visibility of customers’ experience. This will enable better data capture and optimisation for the customer funnel, reducing leakage of customers.
Testing private chain installation. The basic contracts are in place and have been deployed on our internal private net. The team is running it across different scenarios to better understand how to deploy, maintain, and further develop new contracts that are able to support features planned down the road. It is still very early days into HelloGold’s journey towards aligning the mass market product with the crypto world.
Loan product. Work on the product is on-going with AEON Credit Services. As a ground-breaking product disrupting the pawnbroking space, we are taking careful consideration to release a fitting product for the market.
New team members are still being recruited to replace the original team on the legacy system. Currently the original team is both picking up blockchain development as well as maintaining the current system. The new team is anticipated to be in place soon, allowing the original team to concentrate on the new, larger blockchain-based system.
Tokens
Updates on work involving the tokens are as below:
GBT reward distribution. The GBT distribution for the month of November will be made on Friday, 8th December 2017. Please ensure that your HGT are in your own wallet (not on an Exchange) to receive the GBT. HelloGold’s monthly management fee in November summed up to 4.226g, an increase of 0.455g compared to October. The total allocation to HGT holders will be 0.422 GBT.
GBT product. Work on the GBT product continues. We have received indications of interest for purchases of GBT from ICO projects as well as crypto whales. If you are interested or would like to give feedback as a potential customer, please drop us an email at [email protected].
Exchanges & Market-making. The team have slowly gained traction with various exchanges to list HGT as well as market making to provide more volume and liquidity. We believe our hard work on this front will start to show results in the near future.
Marketing. The marketing plan discussed previously is in the works and will be released soon. The team is also exploring a tie up with exchanges to conduct promotions on trading of HGT, allowing for cross-marketing across the communities.
Smart contracts. With a number of possible new assets coming into the HelloGold stable, our new market of allowing ICO projects to hedge part of their funds raised into gold, and tighter integration into the HelloGold product system, it was decided that some updates were needed to the HGT / GBT token contracts. As a result we have been hard at work designing and testing new contracts to allow seamless migration from the original contracts to the new, more versatile ones.
We will continue to provide updates every 2 weeks. Please do get in touch with us in between if you have any thoughts, suggestions or recommendations.
The HelloGold Foundation Team