GEM DIGGERS AMA with CITADEL.ONE

https://citadel.one/

We know that the Cryptoverse is relatively young but it has grown at an astonishing rate. Decentralised platforms are being produced and released in droves, the choice is almost endless for services like token exchange, staking and DeFi. This is confusing for seasoned crypto traders but for newcomers whether individuals or institutions there is a mine-field of platforms there to choose from. In addition, it has to be said that applications on the blockchain for crypto trading have not been the most user-friendly to date.

Enter Citadel.One. They are on a mission to create a painless way to deal with crypto every day. Their main goal is to create a multi-asset solution with extended analytical functionality and unique features that makes it much more convenient to interact with your portfolio and maximize rewards. If you are looking for an all-encompassing solution that collates your portfolio, allows staking, DeFi, Fiat gateways and much more then Citadel.One has to be on your radar, here are some of the key features of Citadel.One.

  • Non-custodial staking platform
  • Multi-asset support
  • Stake with Citadel One-seed, Ledger, Trezor, Metamask or Keplr
  • Stake on any validator of your choice
  • Unified experience with multiple networks
  • Instant cryptocurrency exchange and fiat gateway
  • Biweekly report on your staking rewards

Ozzy from Gem Diggers recently held and AMA with Rina Shtedle (CMO and Analyst) and Alex Falko (CFO & Co-Founder) to explore the vast array of features that Citadel.One offers. Read on below for the full Q&A.

Ozzy: Can you tell us more about your core team, their background and experience and what brought you together to create Citadel.One?

Rina: Sure, let me cover this one! I’m Rina Shtedle, CMO & blockchain analyst at Citadel.one. My journey in crypto has started almost 3 years ago, and for about 1,5 years I’m with Citadel — so far I’m involved with this project since it’s very inception and I’ve never been so enthusiastic with any other project before😊 I’m currently responsible for BD side of Citadel.one, strategic partnerships & integrations, and all marketing-related activities. We are currently a team of 35. As for the main executives — we are all pretty experienced and enthusiastic at what we do. Apart from me and Alex, who is a CFO at Citadel.one (a guy with a strong financial background with 15+ years of financial planning, in crypto since 2013), we have Gregory Shabalov — our CTO, skilled developer who understands the ins and outs of blockchain. He also worked with corporate blockchain systems for a couple of years. At the moment he is responsible for software development management and R&D.

Anton Pavlutsky — our honourable, yet not so public CEO. He has more than 6 years of experience as a project manager and co-founder of a software development company. Now he is responsible for building internal strategy of the project. Dmitry Shehovtsov, our COO is a lead manager with an extensive financial and crypto research background. Now works with management and operations of Citadel.one. Also we have an extremely skilled development team lead by Pavel Khivintsev and Petr Lapin. Our marketing is full of passionate people — we try to keep in touch with our users and community — Vlad Gorlov as a Head of Community & PR helps us grow and spread the awareness of Citadel.one.

Ozzy: How long have you been developing Citadel.One for and why is now the right time to bring it to market?

Alex: Great Question…Citadel has been in development for more than 2 years now. It went live a year ago and already has about ~15K users. So in that sense it is in the market for a while. If we are talking IDO, launching a token has always been a part of Citadel.one concept which is based on 3 key components: Validator service, DAO and a Platform. We deliver our promises constantly and IDO is just the next step.

Ozzy: You are calling Citadel.One as an ‘All in one Super-App’ can you tell us what this means for users?

Rina: Of course, this concept is unique to certain extent…

Citadel.one develops 4 main features that make it a Crypto Super App. The team has built these features from the ground up with their core philosophies of sleek UI and UX. Their focus is to provide a range of high-quality Decentralized Finance products that are encased in a single platform.
These features include:
- Citadel.One Validator Service
The fundamental part of the Citadel.one concept is its Staking-as-a-Service business model. Currently, Citadel.one validates over 20 networks, including Tezos, Cosmos, Solana, and others with a Total Value Locked (TVL) over $85 million and more than 6,500 delegators.

- Citadel.One DAO
This is something that is pretty unique for wallets and asset-management platforms. With Citadel.one DAO users can actually get more from their staking as XCT is rewarded for staking with Citadel.one nodes via Citadel.one platform. In that sense XCT is a securitized token, meaning it has intrinsic value based on basket of other crypto assets. XCT token also operates as a governance token, so users can be involved in platform activities directly — they can choose networks and features to integrate, vote for DAO financial and governance settings.

- The Citadel.one platform (Mobile and Web)
Citadel one-seed wallet enables users to create addresses for all the networks integrated into the platform using only one mnemonic phrase. Thus, there is no need to store and remember multiple seeds for various wallets. In any case, we don’t limit anyone to using Citadel.one platform with our one-seed wallet. We are a wallet-agnostic platform, so you can import addresses with seed-phrase or private key created in other services; you can also use Citadel.one with your Ledger or Trezor device. Later on, you will be able to connect your Web3 wallet and enjoy Citadel.one functionality.

- Extensions
The most exciting part about Citadel platform, is its ability to become a crypto operating system. Call it iOS for crypto. With the introduction of extensions Citadel will be able to natively support any DeFi protocol or Dapp. We will focus on integrating most popular protocols like AAVE, Uniswap and Pancakeswap natively as well as provide our SDK for outside developers. Think of it as of Wechat, a Super App with Dapps inside. You can learn more in the
article

Ozzy: What is the purpose of sub-portfolios, who do you envisage using them?

Alex: Let me answer this one…I believe sub-portfolios is really a cool feature which will be used by more advanced users with lots of wallet addresses in multiple networks, such as crypto funds, large crypto holders, and perhaps institutions. What this feature allows is to organize your portfolio in a really convenient way by creating custom lists of addresses and assigning aliases. Imagine a next gen crypto fund with hundreds of clients. Sub-portfolio`s feature allows to create a separate list for each client. You can have “John”, “Sara” “Sam” “Kim” and all other kinds of sub-portfolio accounts with assets stored on users’ designated addresses. No other solution allows that.

Ozzy: What benefit does the ‘Extensions’ element of your platform provide to developers? Will you be vetting applications?

Rina: In the first stages, developers will be able to use the Citadel.one as a wallet that supports operations in various networks using the SDK with the ability to communicate with users through notifications. You can probably compare it with Web3, but much better. User notifications will allow you to warn the user, for example, about liquidation, if he provided devs with an access to the application (which is absent in web3 wallets and this is a huge pain). And this all will be cross-platform, meaning that there will be no need to come up with additional crutches for the mobile application. Each dApp will work both on the web and on the mobile, as soon as it is developed with our specific guidelines.

Later, we plan to expand the functionality of the SDK and provide various use-cases, ready-made contracts, and use data from the oracles with the SDK. Thus far, we will be able to provide more and more complex solutions for outside developers in Citadel.one SDK. Now we are already collecting use-cases from our partners and discuss future integrations collaboratively .

Ozzy: What kind of problems will be solved by providing email and notifications from Dapp to Customer?

Alex: That’s my favourite question being asked all the time))

Crypto is all about privacy and anonymity and often people are confused when being asked to log in via email. To preserve privacy and anonymity of our users we advise to use a spam/anonymous email for creating an account. All we do is simply send a 6-digit code and do not require or collect any additional info.

We decided to introduce this feature as it allows us to bring the whole new level of UX to our users. First, Citadel.one is a cross-platform application, meaning that migrating from WEB to Mobile and vice versa is super easy and smooth. Second, at a later stage when extensions are gonna be introduced users will be able to create their own personal workspace. Think of it as your desktop with all your wallets organized in a way you like and Dapps you love and use. Third, it provides a valuable communication channel between users and developers which we find crucial. For all that email-based accounts ecosystem is the best possible solution preserving user’s privacy and delivering the best UX possible.

Ozzy: Privacy is a key theme in Citadel.One for good reasons, but how are you achieving this for chains outside of privacy networks like Secret?

Alex: Actually a key theme of Citadel.one is providing our users with cutting edge UX. A great example of that is integrating a SCRT/ETH bridge into the platform. Now our users can send their tokens from ETH to SCRT and back without the need to run Metamask and Keplr, all can be done from one interface.

If we will look one step ahead, a great use case we are thinking about is implementing private transactions. Let’s say a user wants to send funds from his ETH address without revealing balance and needs his receiver to get paid in USDT. So what we can to in Citadel.one is to create a complex transaction when ETH is converted to private version of sETH on SCRT, then automatically swapped to sUSDT with SCRT SeFi AMM, and send back to destination USDT address on ETH blockchain, perhaps in several batches for complete obfuscation. In that case privacy is preserved.

Ozzy: Tell us about your roadmap for 2021, are you on track to deliver?

Rina: Sure, will be happy to answer…We have a lot of work to be done)

We are very excited about 2021 as our major products are going to be launched. We will launch Citadel.one DAO with an XCT governance token that will give users an opportunity to get more from their staking.
Also, integrations of new tokens (including Polkadot, Akash, Graph and many more) are planned. Generally, we are planning to list all the primary networks by the end of this year.
Also, the amazing interface update is coming this July-August to enhance the user onboarding and UX in general.

The most ambitious yet astonishing goal is the release of extensions sections. As I’ve mentioned in the question above, this section will give an opportunity to download dApps natively. So, DeFi, exchanges, marketplaces could be installed and used along with basic wallet and analytics functionality. More details are coming this summer.

We will soon update our landing page with the roadmap, but here is a small leak:

Ozzy: Who are you partnering with for marketing, or planning to? What work are you doing on raising awareness about Citadel.One?

Rina: Ah, I’m the CMO, I will cover this one…Always excited to share

First, I will mention partnerships. We’ve grown our partnership network significantly — both for the marketing and development sides. We have established partnerships with Secret Network, BAND Protocol, iOST, Nexus Mutual, Staking Rewards, Injective Protocol and many more — full list is available on our website. With each and every integration we are opening up for a new audience — we believe that the launch of extensions section will bring us brand new partners and new strategic opportunities. We also have a strong back of our advisors (Kyle Chasse, Marco Calicchia, Can Kisagun and Sunny Aggarwal) and investors. Plus, as soon we are projecting to transition to BSC, so BSC partnership is in our plans.

We attract outside marketing teams and media platforms + recently we’ve launched our C-ones Ambassador Program — you can learn more and apply via this link

It will help us grow the awareness, engage the users and launch local communities over the world!

In brief, our marketing plan includes:
- SMM — We grow our social media networks like Twitter, Facebook, Telegram, Reddit, Instagram, LinkedIn, Weibo, WeChat.
- SEO + ads — We will increase organic visibility with AdWords, Knowledge Graphs, Sitelinks, In-depth articles and Twitter content. We are also working with Reddit ads.
- Influencers and thought leaders — We work in collaboration with Foundations of integrated networks, Industry experts, Media influencers, Media platforms like CoinDesk, Cointelegraph, Crypto Briefing
- Events — We will organise AMAs, interview sessions, public presentation of new products and community meetups.
- Community programs — We are looking forward to growing a loyal group of customers for whom Citadel.one is a first-choice platform. Apart from the international channels, we’ve already started local communities in Russia, Korea, China, Vietnam, and Indonesia.
- Localisation — Not only there will be local communities, but we will also provide platform localisation for the content, landing page and platform itself. Russian and Chinese landing page localisation is already live!

Ozzy: What is your game plan to compete and be sustainable in this space?

Alex: I guess the answer is to provide the cutting edge UX to our users. Crypto space needs use cases and Citadel.one is all about that. An example may be seen in question #7.

Ozzy: Who would you say is your competition, how do you stack up against them?

Alex: To be honest, we do not see direct competitors in the space…Somehow Citadel.one is unique in its vision. Our concept can be described as Validator/DAO/Platform+Extensions.

From what you can find on the market, some projects are building wallets with advanced functionality: Atomic, Exodus, Frontier. However even in this segment approaches are very different. Frontier is focused on mobile solely ATM, and does not provide Staking-as-a-Service (AKA running its validators nodes in PoS networks). Same applies to Exodus, which is not hosting nodes. Only Atomic is doing that. However Atomic allows its users to delegate on their nodes only, which we see as capital inefficient as the fee they charge is quite often too high.

Citadel.one allows its users to delegate on any validator, we are not limiting our users to our nodes only.
Citadel.one is a professional validator running nodes on 20+ networks. For us running nodes is a key part of our concept, and is as important as Platform itself. More than that, nodes are generating a revenue stream in form of the fees charged for the service. This allows us to have a unique type of tokenomics — a securitized cash flow model. What it means is that 50% of rewards generated by our nodes goes to the community funds pool and can be voted by those, staking XCT token to get back into their pockets via governance proposal. In that sense XCT is a claim for the basket of other tokens.

Ozzy: User retention is critical for the success of any platform, what are your plans to keep users engaged with Citadel.One as well as achieve growth?

Rina: Ah, yeah, great question…I’ve widely covered the growth plan answering the question about marketing, but I will elaborate a bit more on our built-in incentives, notifications, and email campaigns.

XCT token is an incentive itself — users get more with their staking just simply by doing it with Citadel.one nodes via Citadel.one platform. For example, you set up an account in Citadel.one and stake ATOM with our node. So far you receive not only network rewards in ATOM, but also XCT! By staking XCT tokens, you will be able to choose networks and features to integrate, Citadel.one governance and financial settings. For instance, you want to be able to stake Solana through Citadel.one — just stake your XCT and vote for this proposal via our platform!

Notifications help you get more as well — we remind you not only to claim your rewards, but also to stake the available balance. The more you stake — the more you get, this is that simple!

Apart from the platform built-in notification center, we are also sending emails about your rewards. Additionally, we are launching email campaigns through mailing services to improve customer engagement. We will also collect and measure the data in order to optimize the user retention.

Just to add about XCT positive loop!

The more funds users stake on Citadel.one nodes (1), the more staking rewards (2) and XCT tokens they receive from the Emission pool (3). This increases the capital allocated on DAO nodes and rewards generated by them. 50% of those rewards are distributed to the Community Funds pool (4). Later, they can be voted (5) to get back into the pocket of XCT stakers (6). To further increase gains, users can stake received XCT (7) to get additional rewards (8). We believe this incentive model will allow Citadel.one to become one of the largest validators in the field of Staking as a Service.

So that covers the AMA we held with Citadel.One, you will agree that this project is definitely one to keep on the radar and learn more about, Rina and Alex shared some great information with us and we are pleased to spread the knowledge about this excellent project.

For more information about Citadel.One feel free to use and share the resources below:

Website | Twitter | Medium | Telegram | Reddit | Instagram | LinkedIn | YouTube | GitHub | Facebook

Be sure to join https://t.me/gemdiggers for more great AMAs

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