Community Hangout Spaces #17

a bit in advance so I can make sure you get an answer. Otherwise, you might wait a couple days. Anyways, yeah, so Gregor, say hi to everyone for anyone that's new, introduce yourself and maybe tell us quickly what does Handle P do and we'll get started on some of the topics we have in our agenda. GMGM, can you hear me? First, it's always the sound check, right? Yeah, we hear you. Oh, great. Yeah, so good morning evening after noon, everyone. Yeah, so happy to be here on another space. I think we have a lot of interesting topics to share today. But before we get there for those of you who are new or listen to this later on as a first time, just as a quick summary, what we're building with Handle P is essentially, it's a peer-to-peer payments product that uses your social media handles, your WhatsApp number, anything literally that you're used to communicate on a day-to-day as a payment address, right? So the division really is that you can send payments, stable coins to any WhatsApp number of any of your friends, whether they have Handle P or not. And that's what we are building towards. And right now, we are at a point where we release a second or we call it Handle P, a two-point though, but essentially it's a completely revamped app experience, new UI, new UX. And it incorporates a lot of the lessons learned from the past two and a half years. So what I mentioned earlier with the big vision to make payments globally simple, to use user names, that's what we started out with. But along the journey, we made a lot of different turns that caused like integration challenges that introduced the additional friction points here and there. We tried, like, you know, swapped out a couple of partners that we worked with, et cetera. And the product experience just hasn't been as smooth as we originally wanted it to be. So that's why we are here with Handle P, two-point though. I think we'll tie for a little bit deeper in that further in the space. And that's what we are addressing with it. Yeah, I think I'll pause here. And again, like to what Karina already said, if you have any specific questions, drop them in the chat as well. Happy to answer them if we have time in this call or then afterwards, obviously, yeah. I mean, always happy to answer questions of people who are engaging in the product and curious what we are building, where we are headed. Yeah, so let's carry on with the space and see what else we can cover today. Yeah, so I have a couple of items. You didn't officially approve them in the agenda, but I'm just gonna go into them. Just throw them in. Throw them in. We can keep this casual. It's a hangout, right? Okay, okay. Yeah, no, but, you know, so, okay, you had mentioned we could share some product traction. Or maybe, I mean, this will also be shared in our newsletter today. So if you haven't signed up to our newsletter, go to our website and sign up. We do drop announcements, product traction and other information there. But yeah, you had mentioned we had some interesting product traction in the last month. Our bridge is picking up and that's really nice to hear. I really expect product traction to really go to a significantly next level when our, when handle pay 2.0 comes out, because like the UX UI is gonna be so much easier to use, including the new features. But yeah, so I guess give us a product traction and tie it into one of our questions, which was about like how do we think that increased product traction is going to translate into more utility or, you know, how's that gonna, more utility for handle, but how's that gonna impact handle? So when we started out, we were building on base and on polygon. And then along the journey, we ended Canton network and this became a pillar of the product, what we're building to weigh because it adds a privacy layer. I can get into this later in more detail, but what that required us to build is to build a bridge between base polygon and Canton. Obviously, Canton is a completely different chain. It is not directly in the incompatible and the fact that we are a payments company, we do need to be able to, you know, create this interoperability. So we created our own bridge. We started first to support our own token handle only. Then we added other tokens. The bridge currently supports handle USDC and also Edel, another project on the Canton network, which has a token as well on base. And, you know, like, although we set out as a payments company and focused on the whole wallet experience, bridge was never the original DNA, but it just kind of, you know, kind of maneuvered ourselves into this space. So it's been quite an up and down with the bridge. There's a lot of components to consider. And with bridges also as they generate traction, I'll just give you all the context first before I get to some numbers. With the bridge as it generates traction, there is also like new risks that you introduce, right? And so that's what, isn't it? We kind of were going also in smaller steps. But I can say today, I just looked at the data for the last quarter. Like the amount of handle that you guys or the community or, you know, traders or bridging is pretty phenomenal. So with Hessins, we've launched it about 700 million handle has been bridged back and forth. That's about, you know, 70% of our entire supply. I mean, a lot of these transactions are like, you know, multiple directions, but still nevertheless, it's a significant amount. This last month, September was also the first month where the USDC volume has crossed 100k. That may not seem like a huge number for, you know, if you're doing like trading at all that, but a lot of the people moves small amounts. So it's a hundred dollars here, two hundred dollars there. So again, it's like quite significant in terms of usage. And then also Adel. So we started to support Adel. And yeah, that was also, I was actually very surprised how that one picked up. We've bridged about half a million dollars worth of Adel in December. So that's also quite interesting. A lot of this is related to, you know, like, and that's a guess to arbitrage because Adel as well as handle, we are trading in different venues on Canton and on EVM chains. And obviously that always creates a more bit of a social opportunities. And, you know, people are trying to tap into that. So I think the bridge at this point is extremely, I think, well, position with, you know, we've sorted out a lot of things that we struggle with at the beginning. The bridge will also play a key role in the handle pay 2.0 launch. And so in that sense, it's nice to see how, you know, all these things come together at this point. So yeah, I'm super happy what the team has shipped you and actually how we've made it, you know, quote perfect. And it's really, you know, highly customizable at this point. So I'm also expecting that we're adding all the assets and, you know, support all the assets on the bridge between EVM and Canton. And maybe even other chains as well. The second part, I think you asked how this ties into growth to use it. Should I have a second part of the question? How this will impact handle the token in terms of utility. Obviously, price growth. Got it. Yeah, yeah. So, you know, the bridge, so generally, handle is a fee token. So maybe I'll explain this first so that we roll on the same page here. So whenever you use handle pay, and this will also not change with 2.0, whenever you use handle pay, you pay fees. Whether you receive payments, whether you, you know, you do all framps, you swap, you use the bridge, whatever you do, there is obviously a fee involved. The fee is charged in different assets. So obviously, if you are bridging USDC, the fee is taken in USDC. So it's always in kind. But behind the scene, it's converted into handle. So ultimately, all the fees generated through the platform and the product will generate demand on handle. That's important to understand, and especially as scaling picks up, you will see a direct impact on that. You can compare it a little bit to like, I guess like given the, you know, the whole AI hype, a lot of AI, everyone who is working with agents, I guess at this point, understands that you need to keep replenishing your credits, to keep using the product, and that's in a way in a very similar direction. Handle is essentially the fuel or the blood, the, you know, that you need in order to use the product in one way or the other. Now, how do you do answer the question? So if you're using bridge and you're moving, you know, a lot of transactions, obviously that are fees involved, so that drives demand on handle. Right now, the fees we charge for the bridge, it's $1 flat. So whether you bridge a $1,000 or $10, it doesn't matter which are the dollar, which will then be converted into handle, or to market by handle essentially, but that fee structure may change as well. But generally, you know, the more you use the product, whether it's bridge, whether it's a payment, you know, the more demand it generates on handle directly. I hope that answers the question. It does. And if anyone wants more clarification, we can give that in telegram afterwards. Another question, I'm kind of related to it, and then we'll hop into handle play 2.0. So while we're talking with the token, someone was asking, what's the current total circulating supply, and how frequently does the team increase the circulating supply? And like what's the projected timeline for the complete release of the supply? So everything related to that. Okay, so let's talk a little bit. This is tokenomics stuff, right? So the first thing that I need to clarify, there is no new supply coming. We have a supply cap of a billion tokens and that's it. There's no more mint of that. So from that supply can only be totally supply can only be reduced. We have approximately two thirds of circulation today. So I think 60 something, 67, 99%. The good thing is a lot of our, so when we started the process, we did a couple of launch pads. And a lot of the investors from that time, they have been fully unlocked at this point. So that's really good news. So we do not expect a lot of sales side from people who participated or got involved with the project earlier on. And so that's a good starting point to build out the token trajectory and the token marketing as well, specifically. We do have the remaining supply that's still locked up. It's mostly, there's a couple of investors from the seed ground still, but it's a small amount. And then there is marketing and def fund. And then I think the only item left is team. The team has small allocation, which you can see as well in our tokenomics table. But they'll only start, I believe, next spring on Q2 next year when they'll start receiving monthly allocation. So team is really the last ones that will get something out of it. So the incentive now is, or I think the timing right now is really good to start building out the token marketing piece as well. So in terms of the answer to question, total supplies are billion. We have two thirds in circulation. And yeah, what's left? Then it's basically going to be released over the next, I think, 18 months until everything has been released. Thank you for those answers. Now let's dive into what has been on everyone's mind and we've definitely been posting about it. It's really coming. First of all, what is handle pay 2.0? What are some of the maybe, one of the questions was, what are the top three new features in 2.0? Like users can expect, if you want to break down the features, just in general, like what's going on with 2.0? And we could get into the status of the launch afterwards. Yeah, I was wondering, like isn't the first question went to poodle? But you're not to do that. So yeah, so as I said, at the very beginning, so 2.0 is a complete, you know, new release of the product. The main difference is, we have spent a lot of time with UI, UX topics, to make the product attractive to non-cryptop people. That's where we see the market, that's where we see a huge volume to come from. I'll get a little bit more into that later. And yeah, so we have really completely redesigned the UI and to simplify the user experience. The one thing we're solving for that is really,