Overview
July was an eventful month for Monitok, filled with important updates, a new partnership, and a significant milestone in our funding journey. Here’s a quick summary of what we accomplished:
- Formed a Partnership with Kima Network
- Secured €420,000 ($450,000) in Pre-Seed Funding
- Launched Fiat Transaction History Feature
- Onboarded More Than 20% of Our Waitlist Members
- Made Progress on Multi-Chain Infrastructure
- Introduced New 2FA Options
- Enhanced Compliance and Identity Verification Processes
Here’s a deeper dive into these updates:
Partnership with Kima Network
— Monitok.io (@MonitokHEX) May 8, 2024
One of the biggest highlights this month was our partnership with Kima Network—a move that significantly enhances the capabilities of Monitok. This partnership enables seamless transactions across 10 different blockchain networks, including Bitcoin, Ethereum, and Solana, providing our users with more flexibility in managing their assets. We are also exploring the integration of Euro and Dollar payments, making it easier to bridge the gap between crypto and traditional currencies on our platform. Moreover, Kima’s Delivery vs. Payment (DVP) functionality also opens up new opportunities for our users to invest in real-world assets like Tesla stocks using their crypto holdings, offering more ways to diversify portfolios. The efficient cross-chain messaging and data transfer capabilities provided by Kima ensure that Monitok remains a robust and versatile platform for all your trading needs.
Securing Pre-Seed funding
Another big development this month was closing our pre-seed funding round. We secured €420,000 ($450,000) from an investment firm in Singapore, bringing our valuation to €10.5 million. This funding will undoubtedly help us move forward with our plans: pivot our marketing strategy, scale product and user growth. Furthermore, this funding will not only provide the financial backing needed to grow but also connect us with expertise from the Asian market.
— Monitok.io (@MonitokHEX) May 8, 2024
Security & Compliance Improvements
While onboarding users, we noticed some friction points in our identity verification process. In July, we made significant enhancements to our compliance and onboarding procedures. Users can now restart their verification process and provide the required documents based on feedback from our platform. These updates to the identity verification process make it more secure and user-friendly, further strengthening the trust and reliability of our platform.
Product Updates & New Features
Throughout July, we made significant efforts to enhance the Monitok platform. First, we introduced the Fiat Transaction History feature, enabling users to easily track and review their transactions within the app. Second, progress was made on our multi-chain infrastructure, which is key to enabling smoother interactions between different blockchain networks. Additionally, reacting to user onboarding issues, we improved the sign-up process to make it simpler and more secure, and we are also rolling out new two-factor authentication (2FA) options to bolster account protection. Lastly, to further enhance the user experience, we made several tweaks to the user interface, making Monitok even more intuitive and user-friendly.
Growing Our Community
July also saw growth in our community as we successfully onboarded more than 20% of our waitlist members, bringing more users into the Monitok ecosystem and expanding our active user base. This phased onboarding approach allows us to gradually introduce new users while maintaining a high-quality experience.
What’s Next
Looking ahead to August, here’s what we’re focusing on:
- Expanding Partner Network: We continue to carefully handpick partners and collaborations that fit into our vision to bring more value to our users.
- AI functionality layer: We are exploring AI-driven features and narratives that would deliver unique value to our users.
- Native Token: We are actively preparing for a token generation event.
- More Waitlist Onboarding: We’re continuing to bring more users into the Monitok app, executing a silent launch for our early supporters.
- Community Engagement: We’ve got new marketing campaigns and community activities planned, including our first game night on Discord.
We’re excited about the progress we’ve made and what’s coming next. Thanks for being part of our journey as we continue to build and improve Monitok.
Join us on our journey 👇
EN 
LT 
LV 
ET 
FR 
ES 
IT 
PL 
PT 
SV 
NL 
FI 
NB 
