Welcome to the first issue of the OpenChat Annual Review. 2024 has been an extraordinary year for OpenChat, marking significant milestones and extraordinary achievements. This review provides a comprehensive overview of this year's highlights, showcasing the key data, metrics, charts, indicators, news, and accomplishments that define OpenChat's journey in 2024.
In 2024, OpenChat was listed on multiple centralized and decentralized exchanges, achieving an important milestone that marks a significant step on its path to global adoption. Here are some notable listings:
Centralized Exchanges
BitMart: CHAT officially launched on the BitMart digital asset platform on October 11, 2024.
Coinstore: CHAT was listed on Coinstore on September 13, 2024.
Bitrue: CHAT was listed on Bitrue on August 1, 2024.
LBank: CHAT was listed on LBank on July 31, 2024.
Decentralized Exchanges
KongSwap: On October 18, 2024, OpenChat partnered with KongSwap to directly integrate KongSwap's token exchange functionality into the OpenChat platform.
Helix Markets: OpenChat (CHAT) officially launched its token trading on Helix Markets, with trading starting on Tuesday, March 26, 2024.
Collaborations and Integrations in 2024
In 2024, OpenChat established multiple strategic partnerships and integrations, further expanding its ecosystem and solidifying its position in the Web3 space. Here are the key highlights:
Goblin Studio Integration (January 19, 2024): Goblin Studio officially integrated with OpenChat.
Signals Integration (February 1, 2024): Signals announced its integration with OpenChat, allowing users to seamlessly message people on the Signals platform.
TokenTerminal Partnership (February 28, 2024): OpenChat partnered with TokenTerminal to publish high-quality, verified application metrics, enhancing transparency and providing valuable insights into the platform's performance.
ICPCC 2024 Silver Sponsor (March 20, 2024): OpenChat joined ICPCC 2024 as a silver sponsor.
IC Footprint Partnership (April 19, 2024): OpenChat partnered with IC Footprint to co-develop the upcoming IC Footprint 2.0, focusing on promoting a sustainable future for cryptocurrency and advocating for the concept of Clean Crypto. OpenChat became the first DAO to integrate IC Footprint 2.0, a sustainability protocol utilizing ICP smart contract functionality, as OpenChat actively seeks to decarbonize through acquiring renewable energy certificates and carbon credits.
CLS Global Partnership (July 31, 2024): OpenChat announced a partnership with CLS Global, making CLS Global its official market maker to enhance liquidity and improve market operations.
New Features and Innovations in 2024
Throughout 2024, OpenChat launched a series of groundbreaking features and enhancements, solidifying its position as a leading decentralized social platform. Here are the main new features:
Video Chat: OpenChat has expanded its communication capabilities by introducing video chat features.
Broadcast: The platform now supports broadcasting, with the broadcast feature on OpenChat bringing revolutionary changes for content creators, offering an engaging platform for hosting Q&A sessions and AMAs, enabling real-time interaction with the audience.
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CHIT to CHAT Implementation: CHIT is a points-based reward system designed to encourage user activity and growth. The CHIT to CHAT event was very successful, resulting in a significant increase in daily active users (DAU) and monthly active users (MAU) on OpenChat.
New Identity Layer: OpenChat has introduced a multifunctional identity layer, allowing users to log in using various methods, including:
Email
Ethereum
Solana
Google
PIN Code Verification for Token Transfer: To enhance security, OpenChat has introduced PIN code verification for token transfers, adding an extra layer of protection for user transactions.
Significant progress has been made in supporting bots:
Phase 1 Bot Framework: Development of the Phase 1 bot framework has been completed but has not been fully released;
Example Bots: Two example bots (one container bot and one off-chain bot) are fully operational in the testing environment, showcasing end-to-end functionality.
Additionally, OpenChat offers a range of fun features that enhance user interaction and functionality, including:
Polls: Promoting community engagement and decision-making;
Prize Information: Adding fun gamification elements to communication;
Token Exchange: Enabling seamless exchange of tokens within the platform;
Memes and GIFs: Allowing users to share and create dynamic, expressive content;
Crypto Messaging: Directly integrating cryptocurrency interactions into messaging.
One of the standout features is wallet integration, allowing users to manage assets across multiple projects within the ICP ecosystem. The built-in wallet enables users to:
Holding tokens from various ICP-based projects;
Sending and receiving tokens directly within OpenChat;
Exchanging tokens for a seamless and secure DeFi experience.
Team Growth in 2024
In 2024, the OpenChat team has significantly expanded, bringing in experienced professionals to drive growth and innovation.
New Core Team Members (starting January 2025)
Two highly skilled professionals joined the core team, enhancing OpenChat's ability to achieve its ambitious goals:
Jesse Friedman: A prominent figure in the ICP ecosystem, Jesse is currently responsible for product and marketing strategy as well as the overall promotion of OpenChat.
Ivan Jukić: An experienced full-stack developer who has collaborated with the OpenChat development team, strengthening the platform's technical foundation.
Before diving into the most relevant data points for OpenChat, it is important to highlight significant media recognition. On May 9, 2024, CoinTelegraph published an article titled "The Future of Online Communication: Secure and Censorship-Resistant Chat on the Blockchain."
This article explores OpenChat's innovative approach to decentralized communication, emphasizing its potential to change how people connect online by providing a secure and censorship-resistant platform based on blockchain technology.
Now, let's turn our attention to the most relevant data, charts, metrics, and indicators that define OpenChat's performance and achievements in 2024.
OpenChat currently has an impressive 205.4K users, of which 92.7K joined through referrals. In contrast, the platform had 120.4K users in December 2023, meaning 85K new users were added in 2024, representing a year-on-year growth of 70.6%, highlighting the platform's rapid adoption and expanding reach.
OpenChat's user base and engagement continue to show remarkable growth, reflecting the platform's increasing popularity and the effectiveness of its initiatives. Here are the key highlights:
Growth of Daily Active Users (DAU): Since February 2024, OpenChat's daily active users have grown an astounding 7 times, from 2,000 DAU to 15,000 DAU.
Increased Usage Time on the Platform: User engagement has significantly improved, with total time spent on the app increasing from 300 hours in February 2024 to 2,300 hours, meaning that on average, daily active users now spend about 10 minutes per day on OpenChat.
OpenChat achieved a significant milestone, with 25,000 users successfully submitting unique personality proofs through DecideAI, which accounts for about 10% of OpenChat's total user base, highlighting the platform's commitment to ensuring authenticity and fostering trust within its growing community.
Holder Statistics: Growth of OpenChat (CHAT) in 2024
Total Holder Growth
Current Addresses: 142,517
New Addresses (last 6 months): 44,344
Growth Rate: Increased by 45.1% over the past six months
Analyzing Meaningful Wallets: A Deep Dive
Let's delve into meaningful wallets, defined as wallets holding at least 10 CHAT tokens.
Meaningful Wallets (10+ CHAT)
Current Wallets: 15,639
Growth (last 6 months): 468 new wallets
Growth Rate: Increased by 3.1% over six months
Continuing the analysis, let's look at the growth of meaningful wallets holding at least 100 CHAT over the past six months.
Meaningful Wallets (100+ CHAT)
Current Wallets: 5,865
Growth (last 6 months): 85 new wallets
Growth Rate: Increased by 1.47% over six months
Now, let's take a look at the growth of meaningful wallets holding at least 1000 CHAT over the past six months.
Meaningful Wallets (1000+ CHAT)
Current Wallets: 1,583
Growth (last 6 months): 192 new wallets
Growth Rate: Increased by 13.8% over six months
Now, let's look at the growth of meaningful wallets holding at least 10,000 CHAT over the past six months.
Meaningful Wallets (10,000+ CHAT)
Current Wallets: 371
Growth (last 6 months): 32 new wallets
Growth Rate: Increased by 9.43% over six months
In the past six months, there has been rapid growth in the holdings of 1,000 to 10,000 CHAT and 10,000 to 100,000 CHAT wallets, indicating a significant increase in mid-sized investors, reflecting growing confidence and interest in the OpenChat ecosystem.
OpenChat achieved remarkable growth in 2024, with one of the biggest highlights being a 7-fold increase in daily active users and an 8-fold increase in online interaction time, indicating how well the platform resonates with its audience.
In addition, the CHAT token ecosystem has also seen significant growth, with a 45.1% increase in wallet numbers over the past six months and a 70.6% increase in users in 2024 - this is indeed an impressive achievement.
A warm congratulations to the OpenChat team's hard work and dedication. I look forward to the upcoming progress and can't wait to see more achievements, updates, and partnerships in 2025. Keep up the great work!
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