Each month we’ll be sharing key highlights, what we’ve been working on and what we’ve got coming up across the whole of the Alchemist Ecosystem.
Here’s what happened in January…
Alchemist Update
Council
The voting opened for the Alchemist Council in January. The council plays a critical role when incubating new projects and is responsible for deciding whether new venture proposals receive funding and the funding options for existing products.
The vote concluded on 4th February and Cryptographic and Crypto420 were voted in as the first two council members to represent the community. The other 3 members are currently Alchemist Seniors.
Proof of Alchemy
The community incentive initiative; Proof of Alchemy began in January to incentivize community engagement and activity with weekly rewards. This incentive is being run by Renars, follow @ProofOfAlchemy on Twitter for updates and the latest incentive news.
Discourse
A vote was put out to the community in regards to establishing a Discourse forum for Alchemist. This will be used to discuss current ideas, propose new ones, and further create a sense of community — a chance to bridge the gap between the Alchemist core and the wider community.
Have you taken a look at our Alchemist Discourse yet? You can join in on discussions related to all aspects of the Alchemist ecosystem.
New Marketing Lead
At the end of January, the Marketing Lead for Alchemist was hired. Crypto_amz comes with over a decade of marketing experience and is here to lead all Marketing activities for Alchemist and the Incubator.
Merchandise
It was announced that Alchemist will be accepting applications for Alchemist merchants to be listed and to showcase their apparel. The option is there to build your own site and source suppliers or to use an online third party. You can read the announcement here.
Incubation Transparency Report
The team is working on ways to bring more visibility to the incubation program and encourage community members to reach out and discuss how they can help projects or take a leading role in the incubation team. The latest Incubation Transparency Report can be found here.
What’s coming up…
We’re reaching out to the community in February with a survey to gain an insight into how they feel about Alchemist, their experience with the ecosystem, and if there are ways in which it can be improved. The results of this will influence the marketing strategy moving forward.
Copper Update
Copper Platform
Copper saw a higher number of unique users on the platform in January, compared to September and October of the previous year.
The platform also hosted the second-highest month yet for LBPs, which shows us that projects were still seeking out Copper as their chosen LBP hosting platform, despite the market conditions.
Arbitrum Integration
Copper added another layer 2 solution to Copper in Arbitrum. The Ethereum scaling solution provides an additional low-cost option for projects wishing to create an LBP on Copper. This means they can avoid the high deployment and transaction costs that are currently widespread on Ethereum layer 1.
Copper has since hosted their first Arbitrum LBP successfully.
Copper adds $OHM as a base token
Copper added Olympus’s $OHM as a base token to Copper. The addition of $OHM paves the way for those projects that are aligned, partnered, or incubated with Olympus to utilise Copper to create the LBP.
Revenue share with Alchemist community
The second installment of $MIST revenue share took place, which meant that through Copper fees alone, 4,958 $MIST (approx $217,000USD) was sent to the MIST-ETH Aludel Rewards program via the Crucible.
What’s coming up…
Multichain
Having integrated two Ethereum layer 2 solutions through Arbitrum and Polygon, Copper will now focus on becoming a multichain platform.
Platform resiliency
As the crypto industry continues to evolve we continue to see increased traffic and users across the platform. The Copper team is constantly assessing and acting upon the need to iterate and make changes to the platform to ensure a smoother process for both projects and participants in LBPs.
mistX Update
mistX V2 beta
mistX Labs had a big month as it marked the launch of mistX V2 beta — a complete revamp of the DEX both technically and visually, with new features such as live analysis of your in-progress trade and custom recommendations for maximum success.
Usage statistics so far in comparison to V1 are showing promising signs especially when it comes to the success rates on transactions and for users. This was key to elevating the user experience and growing user retention.
An exciting period for the team as they start this new journey!
mistX Labs metrics
mistX users saw a 91% average user success rate and a 74% average transaction success rate.
Instant ETH Cashback
24 trades received cashback rewards — $2246.70 in total. The highest cashback reward was $504.11.
What’s coming up…
The team has been busy with deploying updates and further optimizing the DEX including key functions such as improving transaction success rates, faster inclusion speeds, and enhancing the overall UI/UX.
One of the most exciting features in the works is Limit Orders and the team has made significant progress already. We look forward to rolling this one out.
Crucible Update
OpenSea integration
If the user's Crucible information seems incomplete or incorrect, they can now refresh the metadata in the top right-hand corner of the page on OpenSea to update.
Check out the Crucibles on OpenSea.
Looksrare and Rarible
Looksrare and Rarible are now also integrated to a basic level. However, they currently do not support the integration of the crucible artwork scene.
Updates to your Crucible
Artwork settings have been added to the Crucible scene, allowing for users to change their shading, rendering, and lighting settings.
Arcane Crucibles now have a galaxy ring that follows the colour theme of your Crucible.
Crucible Marketplace
Marketplace development work is underway for buying and selling Crucibles, also some new features to be introduced.
What’s coming up…
The team is working on releasing new settings that allow users to choose higher-quality artwork for those who want to see the extreme level of detail that the team made the models in originally (you will require a powerful PC to view).
Layer 2 integration has been implemented, is undergoing final testing, and is due for imminent release. Layer 2 will allow users to transact with their Crucibles while accumulating less costs, allowing a wider entry point which in turn should see more users utilising Crucibles.
Improvements are being made as to how Crucible data is loaded in the scene, speeding up the loading times for effects within a user's Crucible.
A platform is being created for projects to utilise in order to create their own reward programs in a simple way.
We’ll be back next month with more updates from the Alchemist Ecosystem.
Don’t forget to check out our Twitter or Discord for the latest news from the Community.
