Transparency Report

Transparency Report 07.07.2022

Intro

We are excited to present our progress following the month of June. As ever, we thank you for your continued passion and support.

Market conditions are unfavorable, yet we view this period as an opportunity to leapfrog the competition. Our resources are now focused almost entirely on increasing the pace at which we deploy new features to the product, with a focus on three streams in particular:

• World-class crypto exchange 

• Smoothest on-ramp experience for fiat currencies

• Spend crypto/fiat anywhere with market-leading debit card program

With that in mind, we are excited to announce an imminent upgrade to the hi super app with personal IBAN accounts and deposit support for an additional three fiat currencies. 

What is more, as part of our strategy to bring new, large pools of users into the hi community via strategic partnerships, our token HI will soon be listed on a renowned tier-1 exchange. We will celebrate this key milestone with a series of activities, including an AMA, airdrops and more. 

Product

Look out for a major app update over the coming days

With the latest upgrade (v2.0.0), eligible members from the UK, EEA countries and Gold tier and above will be able to apply for a personal IBAN at no cost. With your personal IBAN, you can:

• Deposit and withdraw EUR or GBP to and from your other bank accounts.

• Send and receive money to and from other people’s bank accounts through SEPA and FPS.

• Fund your hi account seamlessly with EUR or GBP

Please note, initially a small test batch of members will be whitelisted to test IBAN, after which it will be opened to all eligible members soon after.

Also in this latest update, be ready to meet the revamped Wallet and Earn pages:

• Show/Hide your account balance 

• Detailed historical transaction records with token release progress 

• Clear pagination for Crypto, Fiat, IBAN, and total balances

• Earn details with charts showing Lifetime Earn and Yesterday’s Earn

We sense excitement amongst the community in relation to the launch of the waitlist for hi Debit Cards. We are making stellar progress, and once available, the card will enable members to spend fiat and crypto at 60+ million merchants worldwide. Card benefits include up to 10% spend rewards, choices from 100+ digital subscriptions, travel perks, waived annual fees, Buy Now Convert Later (BNCL), and much more.

Additionally, the hi Protocol Testnet, Block Explorer, and HI Faucet are all undergoing internal testing. As mentioned, our laser-focus is currently the hi app, but we do look forward to sharing more progress on the blockchain soon. 

We continue to establish strategic partnerships to grow the hi ecosystem and deliver more value to holders of HI. We are excited to announce the first partner to hi’s payment gateway – hi Pay – very shortly. This partnership will not only act as proof of concept for hi Pay as we onboard more merchants, but will also bring greater awareness of our brand to a new, compatible audience. 

Token

As previously mentioned, the big token-related news this time round is the imminent listing of HI on one of the world’s largest centralized exchanges.  

Earlier this month, locked liquidity provider tokens in the Mega Pool began to unlock. All members have reported a smooth unlocking experience. If you want to continue earning by providing liquidity, we encourage you to take advantage of the high APYs in the Giga Pools by re-staking your tokens there. The pool size of ETH Giga Pool is currently 243,318.80 USDC / 3,313,637.47 HI, with over 700% APY; While the pool size of BSC Giga Pool is currently 5,013,294.51 HI / 371,704.34 BUSD, with almost 500% APY.  

Since the last report, 13,055,611 HI on the BSC network and 13,055,611 HI on the Ethereum blockchain were burned. They came from the expired inactive rewards.

The total token supply of HI currently stands at 9,315,572,678 HI.

The circulating supply of HI currently stands at 503,699,434.72 HI.

Marketing

There are now 3,430,475 hi members, and the community continues to grow organically by 3 – 5,000 members per week.

It’s exciting to see so many members, both existing and new, take advantage of our global campaign for Deposit Bonuses for ETH and USDT. Participants have already started receiving their bonuses.

In June, members of our team joined NFT.NYC – the leading NFT event that brings together the global NFT Community. It was an inspiring experience to connect with fellow creators and collaborators. 

We also joined hands with Ethernity, a leading authenticated NFT marketplace, to co-host a discussion on Twitter Spaces about the future of NFTs and bringing value to communities. Thank you to those of you that joined.

As we continue to improve the delivery of our communications to the community, we now have the technical and software infrastructure in place, to provide timely in-app notifications as well as transactional and promotional communications. Since last week, new members now get a series of 12 emails during their first month with us to ensure a successful first experience. 

Member Support

The hi Help Center now supports 15 languages, including English, Chinese, French, German, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Romanian, Russian, Spanish, Turkish, and Vietnamese. If you have questions, simply search by keywords at help.hi.com and switch to the language you want to read the articles. 

In June, we successfully processed 8,792 KYC applications for members and responded to 3,500 new inbound requests via live chat and email.

To comply with the FATF’s Travel Rule, in the latest deployment of the app we introduced some new informational requirements. As with many of the other largest platforms, hi is a member of the VerifyVASP Alliance

As ever, if you need any support, you know where to find us: [email protected], in-app live chat, and our global Telegram communities

Thank you for taking the time to read this update, we hope you find it to be useful. As usual, let us know your feedback and questions via any of our channels. July looks set to be a massive month for the hi community.

Until the next time,

The hi team

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