OCP Q3 Summary

Dear Open Custody Protocol Community,

We're very happy to share our Q3 summary, showcasing incredible growth and exciting developments. Buckle up as we take you through our journey of surpassing milestones and setting new benchmarks!

🚀 Explosive Growth

Remember when we aimed for 100K users on testnet? Well, hold onto your hats because we've blown past that goal and reached an astounding 600K+ keys generated through OCP KMS and OCP MPC (powered by Fordefi MPC tech)!

Our community has been on fire too! From the Guild.xyz Season 1 with massive rewards to our meme competition, the engagement has been off the charts. You guys really know how to bring the fun!

Staking has continued raising with over 118M OPEN tokens staked. 

🔥 Burn, Baby, Burn!

All this growth isn't just for show. We've been burning OPEN tokens like there's no tomorrow:

Over 30M OPEN tokens burned this summer alone

Total burns now at a whopping 752M OPEN

Total supply dropped from 2B to 1.2B tokens

That's right, folks - less supply, more value… or that’s what we initially all thought. The reality is that yes, there’s been less supply but it hasn’t impacted in a positive way as we would all expected. Some community members expressed it both on chats and forums and that’s why there are open discussions for an OIP-3 experiment proposal to improve value to community and holders. 

🛠 Building the Future

Our dev team has been working overtime to bring you some game-changing features:

• Powered YieldWard's liquidity pools (AI-driven smart yield generator)

• Prepped for MetaMask Snaps integration (use OCP keys with any EVM DeFi dApp!)

• Added Solana support (hello, SOL lovers!)

• Achieved omnichain support (EVMs, Bitcoin, Solana - we've got it all!)

And don't worry, we haven't forgotten about listings. We're in constant talks with exchanges, making sure we time our moves just right for maximum impact.

🎁 OCP Token Surprise

Remember those community quests and roles? Well, our active participants got a massive surprise - an airdrop of 10% of the OCP token supply! 

OCP token allows the project to experiment with novel ways to reward contributors in the community, whilst at the same time benefiting our loyal token holders, with mechanics like “Proof of Dump”, in which sellers of OCP get their coins wiped and burned. 

But wait, there's more! To all OPEN stakers, listen up: we're announcing another airdrop of OCP just for you! Snapshot was taken on October 7th, 2024, at 22:00 UTC. Stay tuned for details on how to claim your tokens!

🔮 What's Next?

We're not slowing down! Get ready for enhanced infrastructure support for cutting-edge DeFi use cases and protocols, AI use cases and we will continue on our work towards tokenization of RWAs. 

Thank you for being part of this incredible journey. 

Stay tuned for more updates, and as always, keep those keys safe! 

Open Custody Protocol Team