Essentia July Monthly Update

 This month has been monumental for Essentia! The public engagement ended with the best possible result! Now Essentia can grow at an even faster rate! This report will touch on the hardcap and also introduce you to our new advisor, development breakthroughs, the ecosystem fund and our new partnerships. Let’s go!

Hard Cap Reached!

Last month we were working hard to prepare for the upcoming TGE. TGE preparation, especially its implementation, is a complex process. As you remember, we had to postpone it at one point to make sure everything aligned with the new FINMA regulations. We took it upon ourselves to double check and modify scenarios that would trigger legal issues.Work was also completed in all business and development spheres you can imagine — from the smart contract to Members Area’ improvements.Though we have encountered a few hardships along the way, we tried our best to fix them quickly and efficiently. Thus, we can proudly say again that Essentia public engagement successfully closed with a hardcap of $25.5m reached.We’ll take this post as yet another opportunity to express our gratitude to all the contributors — let’s continue building the decentralized world together!

Community

Team

This month we were happy to welcome a new professional to our advisory board! Introducing Joshua Ho, the co-founder of QCP Capital, he’ll be joining the team to share key insights and experience. We are sure that his assistance will allow the project to grow within the Southeast Asian market. Joshua will also be crucial in developing strategic partnerships. 

 

Partnerships

Last month was packed with partnerships:First, we partnered one of the most reputable venture capital firms in Blockchain, dFund. The importance of this alliance is hard to overestimate — the firm aims at introducing blockchain technology to the large audience and we, as you already know, share the same vision.Next, we cooperated with another blockchain capital venture firm — LinkVC. We believe they will provide us with financial assistance and critical insights from the overall blockchain economy.We are also proud to announce that we have started working on the second pilot for the Finnish Government! As you may recall, our first solution dealt with unemployment issues, this time we are focusing our efforts on developing a logistics hub.

Ecosystem Fund

We believe that the more tight-knit community is, the stronger the project. That is why we are excited to launch a fund valued at over $11 million to expand Essentia’s ecosystem and give developers an opportunity to build their applications on top of the platform! The fund will consist of a few initiatives, including competitions, hackathons and more. Check out the dedicated postto learn more.

Hackathon

Soon we’ll be launching a series of Hackathons for developers across 8 cities! We are aiming to incentivize the development of dApps and other integrations to grow the Essentia ecosystem. Find the detailed information on the matter here!

General Update

Do you use Trezor or Ledger? If yes, check out the tutorial on How to use HW wallets to log in to Essentia!

What’s next

There is still a long and fascinating journey ahead of us!Soon ESS will be listed on exchanges, meaning anyone who missed out on the public engagement will get an opportunity to purchase tokens.Development-wise, we have quite a lot of things on our agenda. We’re beginning to work on the Essentia applications for iOS, Android, and your browser.We are also developing the two pilots for the Finnish Governmentmentioned above. That’s not all, of course, don’t forget to check out the Roadmap on our website for a more technical overview.Remember to subscribe to our social media to stay in the loop!

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