Q2 Roadmap Update and Summary - July 2024

As we continue to enter a new phase in Open Custody Protocol (OCP), our development and progress remain relentless. We are excited to share the latest updates on our public roadmap, which is accessible on our documentation site.

Our first quarter has demonstrated solid development and remarkable traction for the products we have built and shipped. The strategic decisions made in choosing certain ecosystems are bearing fruit, evidenced by unprecedented growth in new wallet activations and initial transaction numbers.

Here are the key items we completed in Q2:

Integration with FordeFi

This integration enables next-generation Multiparty Computation (MPC) key management for builders and users, enhancing the security and functionality of our offerings.

Rebrand of OPEN token in existing exchanges and platforms

We successfully rebranded the OPEN token across all major exchanges and wallets. This update was widely supported, ensuring a smooth transition.

$OPEN Staking - Yield on Ethereum

The OPEN Staking dApp was launched, allowing users to stake their OPEN tokens in a permissionless and decentralized manner through smart contracts, eliminating the need for trust and mitigating past issues.

First Deployment of an MVP Relayer on Warden Protocol

We deployed the initial connection layer between OCP, the Keychains, and Warden Protocol, marking a significant milestone in our infrastructure.

Testnet Assets Keychain Deployment OCP Powered by FordeFi MPC Technology

Our first OCP Keychain products went live, with more than 155K wallets accrued to date, showcasing strong user adoption.

Real Assets Keychain Deployment OCP Powered by FordeFi MPC Technology

Our relayers and Keychains are ready to be utilised with mainnet assets. As soon as Warden Protocol enables this on their protocol (expected in August), we anticipate a significant increase in activity as users will be able to leverage their keys and wallets across all DeFi ecosystems. This will be our main catalyser. 

Integration with LitProtocol

We delayed this integration because LitProtocol was still on testnet. We need our keys to transact with mainnet assets, so this integration is now planned for next quarter as LitProtocol is now live too.

We have successfully completed the majority of our roadmap items on time, delivering on our promises. Our team is already deeply involved in supporting DeFi protocols by embedding OCP technology as their backbone layer for security and interoperability. The achievements of this quarter set a solid foundation for the upcoming advancements, and we are excited about the future developments that lie ahead.

Stay tuned for more updates as we continue to innovate and drive growth in the decentralized finance space.

Thank you for your continued support.

The Open Custody Protocol Team