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June 20, 2024 AMA Recap

Updates on Onchain Checkout, Onchain Listing, and more.

Introduction

In a recent AMA session, we provided a comprehensive update on our progress, challenges, and future plans. This blog post summarizes the key points discussed, shedding light on the advancements and the vision driving these initiatives.

The Vision for Onchain Checkout

One of the primary topics of discussion was the evolution of Onchain Checkout. We envision this product as more than just a simple payment gateway. Drawing parallels with platforms like Shopify Collabs, they aim to create a system where influencers can promote brands and earn transaction fees, thus ensuring they get rewarded in stable currencies rather than volatile project tokens. This approach seeks to bridge the gap between promotion and conversion, fostering a healthier ecosystem for influencers and projects alike.

Watch Embr Labs CEO, Jason Dominique, speak about Onchain Checkout at TLN Dubai 2024 below:

Addressing the Cold Start Problem

A significant challenge in launching new services is the cold start problem, where initial users struggle to find value without an existing user base or data. We've been working on a feature, tentatively named "Buckets," to mitigate this issue. These buckets will offer curated collections of assets that new users can enable quickly, making it easier for them to start selling and promoting products. This feature aims to enhance user engagement from the get-go, drawing inspiration from successful onboarding strategies used by platforms like Facebook and Netflix.

Technical and Operational Challenges

The development journey has not been without its hurdles. We faced issues with the response times of quote APIs, gas efficiency, and the wallet infrastructure. Initial plans to use third-party solutions like Circle had to be revised due to performance and reliability concerns. We've since developed our own components to ensure the system meets their stringent requirements for speed, accuracy, and efficiency.

On-Chain Listing Service Progress

While the on-chain listing service has primarily been tested on Testnet, significant progress has been made. We're optimistic about transitioning to mainnet testing soon, which will open the doors to real-world usage and further refinements. This milestone marks a critical step towards the broader adoption and success of our services.

Expansion Plans and Team Growth

In terms of team expansion, new hires are being onboarded to bolster product management, strategy, and overall operational efficiency. The goal is to increase the team's velocity and capability as we prepare to bring more products to market and generate sustainable revenue.

Collaborations and Future Prospects

We also touched upon potential collaborations with like-minded developers and projects. While they remain focused on their core goals, they are open to leveraging synergies that can accelerate their progress. An example brought up by the community and then discussed was TipLink, a project enabling global crypto transfers via email, which aligns with the team's broader vision of enhancing accessibility and utility in the blockchain space.

Wrapping Up

The AMA session highlighted our team's relentless dedication to overcoming challenges and our strategic approach to building robust on-chain services. As we move closer to realizing our vision, the community can look forward to innovative solutions that promise to transform the landscape of on-chain transactions and listings.

Stay tuned for more updates as the team continues to make strides in unlocking the full potential of on-chain listing services.

Watch the full AMA here!

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