The beginning of 2024 has been marked by tremendous progress and growth for Lorenzo Protocol.
To our investors, community members, and all other stakeholders, this recap covers everything you may have missed.
Progress
Partners & Integrations
In Q1, we announced several partnerships and integrations that will contribute greatly to our primary mission of unlocking the full liquidity of all 21 million bitcoin to advance the borderless global economy.
Our Babylon integration garnered strong media attention and was featured in renowned publications like Cointelegraph, Yahoo Finance, and CoinDesk.
Development
We’ve made significant progress on the development front and are now nearing the moment that our community can tangibly interact with Lorenzo’s on-chain ecosystem for the first time.
An Upcoming Testnet Launch
Our forthcoming appchain testnet and bitcoin liquid staking pool is set for release early this month April 2024 and will be secured by ATOM through Cosmos Hub. The appchain is an Ethereum Virtual Machine (EVM)-compatible Cosmos chain complete with an ATOM staking mechanism and Cosmos validator set that will be leveraged for testing.
Following the launch of testnet, our liquid staking token (LST), stBTC, will be implemented for testing and undergo auditing.
Growth
In the first quarter of this year, our community experienced powerful growth thanks to several campaigns our team launched.
To start, in order to help facilitate the continued growth of our community, we launched our ambassadors program and are currently interviewing candidates.
Using Galxe, the leading platform for growing Web3 communities, boasting over 14 million unique users, we launched several campaigns to reward our early supporters; two of which were featured on the Galxe homepage as trending activations. All of our campaigns are currently accessible on our Galxe space, which has accumulated over 17,000 followers since it launched.
We also activated through Guild, a Web3 community platform that currently provides members with an exclusive role in our Discord server. Since launch, we’ve grown the page to over 15,000 members.
As a result of activating our community growth mechanisms, we’ve seen:
- Our X following grew from 5,551 followers to over 26,000
- Our Discord grew from 386 members to over 25,000
Events
It was our pleasure to attend ETHDenver 2024 in February and also take part in Babylon’s Bitcoin Renaissance event.
Here are some highlights from Denver:
- Hear our founder Matt Ye discuss what’s coming in the near future
- Watch Matt’s ETHDenver keynote
- Watch Matt’s Bitcoin Renaissance keynote
Moving Forward With A Strong Foundation
The first quarter of 2024 has been a period of significant milestones and advancements for team, with several key strategic partnerships and integrations announced, notable attention from major publications gained, and tremendous social media growth signaling our growing influence in the bitcoin DeFi space.
The anticipation for the launch of our appchain testnet grows, and we are proceeding confidently towards what we foresee being a successful activation. As we look towards the rest of 2024, Lorenzo Protocol stands on the cusp of reshaping the landscape of decentralized finance, armed with a strong foundation and a clear vision for the future.
