CELSIUS COMMUNITY LIST (updated 27th March 2020)
1) Desktop version > attracting traders and speculators who like using desktop, also attracting desktop users and crypto holders.
2) More Coins > attracting new deposits and depositors driving AUM higher.... PaxG, Link, BAT are very important IMO
3) Big Exchange > improves image, attract traders and crypto holders. Improves liquidity
4) Increased Utility > e.g. Kyber, earn in kind tiers for silver, gold, platinum driving demand for token in new users
5) Direct Deposit (aka wire transfer) for Cheap in app purchases
6) Buy CEL in app, Buy Stablecoins in app. Especially with Direct deposit (wire transfers). This gives the novice the ability to the average person.
7) In app exchange of coins > Kyber model is interesting... e.g. liquidity pools as Celsius grows, desktop integration
8 ) Bring in coins BAT and LINK > coins with a huge future. Find a way!
9) Target Brave Browser users > Over 10 million downloads and new "crypto" users. Targeted ads for their BAT token on Celsius. e.g. Get 4% on your BAT token, no lock ups.. and up to 12.5% on your Coins.
BAT is probably going to be the most widely adopted crypto as people can earn it using the brave browser simply by receiving advertisements. BAT also has a flywheel model where the tokens are purchased from the market by advertisers to pay the audience for to receive their advertisements.
BAT is a high ranking crypto currently sitting at the 34th position coinmarketcap.
Finding a way get yield on this coin and adding to Celsius would be a great move and this would give Celsius the ability to further target a huge number of users.
Currently blockfi and crypto do com are successfully targeting Brave users.
10) Higher Rates > As AUM grows, give higher rate (lifting rates on CEL token whilst the price is so low and dynamically adjust it)
11) Incentivised Saving program > Make no withdrawals for the month and have a minimum balance... or make 1 deposit and no withdrawals for the month, get a small bonus e.g. CEL token or a small increase in the interest rate.
> Insurance companies often have a "no claims bonus'. Banks have incentivised saving plans... > no withdrawal bonus (excluding CELpay)
11.2) - The ability to lock your coins and get even more rates.
12) Pay back Loans completely in CEL token
13) Ability to change 'Native Default Currency' e.g. USD, Euro, AUD etc.
This is an essential SUPER CRITICAL update that needs to be fast tracked. It would promote people using the app and referring others to join. Why? Because it generate increase usage of CELpay because people would know how much in various denominated currency to send one another. The goal of Celsius should be to be the default real world wallet and savings account of the population. Trading and exchanging value can all occur on the app and the native currency feature is critical. Also people will enjoy the benefits of getting interest on the coins all in the one app.
14) Ability to use multi-collateral for loans and margin calls. This includes ability to borrow against CEL tokens.
15) Lower minimum loan amounts (in the works)
I personally see the $500usd or equivilent would be helpful to the
16) Continue to improve app - It's really good... though.. e.g. Increase time before the app logs out (double the time at least). Reduce lag etc.
17) Ability to Whitelist more withdrawal addresses e.g. 3 addresses per coin.
18) Weekly prorata interest distribution (equitably distributed to holder especially during periods of high rates). Dividend type system where interest is distributed retrospectively so that all 80% will be received by holders rather than spread out.
Currently 80/20 is not being distributed prorate weekly. It should be because people who held during the periods of highest volatility where the highest rates were earned should received 80% of the rates during that time period. Instead we see rates flattened and spread out meaning that a new joiner will receive the earnings on people who held their coins during the high volality period that didn’t get their actual earnings.
>>Simply 80% of interest earnings for the last week distributed to holders Alternatively once a year you get more CEL based on number of CEL you own at an ex-dividend date
19) Quarterly report showing financials interest earned and distributed for each pool of coin type.
> Quarterly EBITDA report.
> Lack of transparency of interest earnings and distribution
20) Develop new ways to generate more income for CEL token and thereby increasing the interest yield on the token.
> BAT has advertisers purchase tokens
> Electroneum has anytasks.com
> Kyber has liquidity pools.
> Faucets generate advertising $ and pay in crypto
> Mpesa in Africa is akin to value exchange and in less than a year has over 1 million users. Learn from that model. Cash in and Cash out outlets generate $ for people. This is a successful MASS ADOPTION MODEL.
21) Celsius is own privately which was arguably funded by the community yet the community received CEL tokens and zero equity. Many have expressed dismay at this for several reasons.
> Members funded the project and CEL token is still below the ICO levels despite Celsius being profitable
> No clear distinction made to CEL token by Equity owners by Celsius (who was funded by token holders ICO).
> At any point equity holders can change rules and state of play.
> Equity owners can sell Celsius who’s new owners can change the rules which can essentially devalue an already low CEL token or make it redundant.
> Celsius has been compared to "credit union" however this isn't anything close to it. Celsius has private owners, it is not owned by the community. Many feel misled.
22) Treasury wallets and repurchasing EVERY CEL token from exchanges. Paying interest from a treasury wallet is the exact opposite of a price supportive activity.
> It should be stated that no more than 10% of weekly interest can ever be paid from a treasury wallet. (This includes CEL on CEL interest and earn in CEL interest)
> It should be stated that treasury wallet cannot be accessed until $3 CEL token price has been achieved for more than 30 days.
> All funds saved by using treasury wallets should go towards the development and marketing of Celsius to gain more depositors.
23) Improve Security Access
> using fingerprint/face id authentication when opening the app and 2FA for withdrawal/loan/CelPay.
> Keep PIN number as well as the addition of 2FA
Currently, a robber who has access to your phone only has to bypass the "something you have" security layer - which is the 2FA - to initiate a withdrawal. There is no PIN request for example ("something you know").
With a fingerprint/face ID, we are adding the "something you are" security layer.
24) - New corporate identity.
The corporate identity of Celsius is extremely outdated. When you look at the (worthless) YouHodler or simply Nexo, they are much more modern and clean. Celsius feels it’s been created 10 years ago. Just look at the material from the ICO period, with those cartoons and stuff. Just awful!!!