In This Week’s Edition of The Freeway Weekly Update, We Welcome The First Two Crypto Treasuries To Freeway’s Treasury Supercharger Service And Donate $135,677.20 To Charity
Inside this week’s edition of the Freeway Friday update you’ll find:
Let’s get straight to it…
Happy Friyay again #FreewayFam,
Do you know the (perhaps mythical) story of the Indian Minister who invented chess?
Sessa, an ancient Indian Minister, invented an early precursor to chess as an education resource.
Delighted by the game, the King asked Sessa to name his reward.
Sessa, clearly a capable mathematician, requested an amount of grain equal to the sum of one grain on the first square of the board, which is then doubled on each subsequent square…
Two grains on the second square, four grains on the third, eight on the fourth, and onwards.
The ruler laughed at Sessa’s modesty in claiming such a meager prize for his entertaining invention.
Until the court treasurers interrupted proceedings to report that such a quantity of wheat would outstrip the country’s entire wheat stores and annual production.
On the entire chessboard there would have been 18,446,744,073,709,551,615 grains of wheat, weighing 1,199,000,000,000 metric tons — about 1,645 times the global production of wheat even today.
Versions of the story differ as to whether the inventor became a high-ranking advisor or was executed for his cheek.
This legendary request is known as the Wheat and Chessboard Problem and forms the basis of many modern mathematical and philosophical questions.
I share this because even though it may seem obvious, the power of compounding and exponential growth never fails to amaze me.
And on that note, monthly Supercharger inflows grew from $4m in October and $5.5m in November to $13.5m in December.
A tasty growth trajectory…
In the New Year update we announced what’s to come in 2022.
One of the promising aspects included was the Freeway Treasury Supercharging service.
Crypto projects can bring their treasuries to Freeway and operate their businesses based purely on their deposit rewards — without having to touch their base capital.
This solves perhaps the biggest problem new businesses face: cash flow.
A recent study by a US bank suggests that 82% of small businesses fail due to poor cash flow management and those businesses can often have great ideas, talent and potential at their core.
Well, in the last few hours before midnight on New Year’s Eve, we finalised deals with two crypto projects to do just that — to the tune of more than $4m.
As private clients we are not revealing names of the projects just yet — but if and when we can, we’d be happy to announce them both as officially supercharged.
And the good news extends beyond crypto…
Freeway’s treasury management service had a great start, extending beyond crypto into traditional business thanks to team contacts.
The first traditional business came onboard, bringing the total between the three businesses to more than $5.7m in Superchargers.
In years to come, we hope to look back at this Freeway moment and service as pivotal in the trajectory of hundreds, if not thousands of businesses, and the people and families depending on them — in crypto and beyond.
Following a record $5.5m month in November, we promised at the beginning of December that we would donate $10,000 to charity for every $1m received in Superchargers during the month.
Well, it turned out to be quite a month, with an inflow of $13,567,720.33.
True to our word, we’re donating a total of $135,677.20 to nominated charities.
We will also, in the near future, launch a Freeway Charity Supercharger into which future donations will be made.
By Supercharging future charity donations, we will be able to give once and give forever — giving much more over time than we would be able to otherwise.
We asked for the #FreewayFam’s nominations for charities of their choice, and our effervescent, ever-present, and never-evanescent community admin Olivia has been compiling a list.
We will choose from these charities — and some of our own nominations — which ones we’ll support with transparent funding.
We’ll reveal more details on that soon.
In December, we finalised plans with Freeway Prime to provide Supercharger-level rewards in segregated, regulated brokerage accounts with investor protections and compensation.
This means it will be easy for anyone in the Deposit Reward products to Supercharge their deposits — adding further utility to FWT.
This is going to be made available to retail consumers across 180 countries and means if a user can pass KYC and onboard to Freeway Prime, they will be able to access Superchargers as a fully regulated product.
It also means users can buy and deposit cash and crypto instead of needing to purchase a simulation thereof.
This is big news, allowing us to improve how we market the entire product suite for those who do not need or want a purely DeFi offering.
We’re calling this new improved product offering Financial Custody 2.0 with changes to the tokenomics for increased FWT utility.
These changes will cater for all users — giving you full control of the level of rewards you will enjoy, from (a targeted) 20–50%, with no fees to pay.
Instead of charging fees, which naturally cause user friction, deposit, staking, and withdrawal fees are dropping to zero.
Coming soon as one of the first major updates of 2022, we will share the new FWT Tokenomics with greater utility baked into every aspect of the Freeway ecosystem.
This includes the utility of Freeway Token generating staking rewards itself — whether or not holders buy or bring other assets to Freeway.
This FWT staking will generate rewards through a mechanism of surplus reward collection and redistribution.
FWT holders will simply need to hold their tokens inside their regulated Freeway accounts to begin receiving staking rewards paid in stablecoins, Bitcoin, or Ethereum.
It really is as simple as that.
Of course, the staking rewards you receive on your FWT will generate rewards themselves.
That’s staking reward compounding on steroids — and all you need is $FWT.
More details are coming in the planned New Freeway Tokenomics FriYay Update later this month.
All of our US #FreewayFam who were unfortunately unable to participate in the early Giveaway Rewards late last year will find a (not so) little New Year’s surprise in their Freeway Lite US accounts next time they log in…
Anyone that has been on Twitter lately would have seen Adrian out there crushing it!
He’s liking, retweeting, and talking to anyone that will listen (and even some that won’t) and we love it.
Your passion and enthusiasm should be applauded, and we certainly appreciate your effort.
It makes us all so happy that we have people in our community like you.
Keep the passion alive and we hope the grand title of Guerilla of The Week helps to keep the fire burning!
Once a week on a Tuesday at 7pm UTC, Freeway holds an internal AMA in the AuBit Telegram channel that gives the community a chance to ask direct questions with core team members.
You can find the transcript from last Tuesday’s AMA (Ask Me Anything) below.
If you’d like to participate in the next AMA on Tuesday at 7:00 PM UTC where you can ask Graham anything, join the AuBit Official Telegram group here.
As always, we love hearing from you, so do please join us on Telegram, follow us on socials, and if you want to hear from us and you want to hear it first, sign up for the newsletter.
Facebook: https://www.facebook.com/aubitnetworkLinkedIn: https://www.linkedin.com/company/aubitTwitter: https://twitter.com/aubitnetworkInstagram: https://www.instagram.com/aubitnetwork/
Finally, we’re making good progress on the brand development work and the website rebrand will be kicking off as soon as possible after we lock in on the new and improved brand identity, which I cannot wait to share with you.
Until next week,
Sadie HuttonCo-Founder and CEO
We’ve put together simple resources for people that are new to AuBit Freeway. The below articles will help you discover everything you need to know including:
Any eligible user in more than 180 eligible countries worldwide can now create an account for access to Supercharger Staking products, FWT native staking, and Freeway Forever Referral Rewards.
Visit our website aubit.io to get access to Freeway Lite now!
Some of the statements herein are not applicable to US citizens and residents. US citizens and residents must access a distinct platform with limited features, which may be viewed at www.freewaylite.us and adheres to US regulations. The statements in this newsletter are subject to change and should not be relied upon when making financial decisions. Some of the statements by third parties included herein are not necessarily endorsed by or represent the views of Freeway. You should always seek independent advice before making financial decisions or investments.