Aconomy in 2023: Recap

Introduction

As 2023 winds down, Aconomy reflects on a year filled with milestones, community growth, and strategic partnerships. From the early stages of development to the launch of the RWA-backed DEX, here's a comprehensive recap of Aconomy's journey in 2023.

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The Visionary Beginnings

Long before the asset tokenization market boom, we were working on building a future of decentralized, RWA-backed DEX. This year, we have achieved this goal by laying the groundwork for Aconomy, a truly decentralized RWA-backed DEX. It empowered asset owners to tokenize their assets into asset NFTs and trade them on-chain

Here's a look back at all the exciting milestones we achieved in 2023!

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Major Milestones of 2023

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The Evolution of Aconomy: A Product Development Saga

Before developing Aconomy, extensive market research revealed challenges like limited market access and liquidity issues for real-world asset owners. These insights led to building Aconomy: https://earlyaccess.aconomy.io/, an RWA-backed DEX for direct on-chain asset tokenization and trading, with a vision of a greener, more circular asset economy. This vision guided the development and refinement of our test product, informed by user feedback and interviews, laying the groundwork for our innovative solution. With this backdrop, we are listing all the details of product development below. 

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Product Development Journey: Building Aconomy Step-by-Step

Quarter 1: Ideation and Wireframes

• Ideation Sessions: Extensive brainstorming sessions focused on conceptualizing the Aconomy platform, defining its unique value propositions, and addressing challenges in asset tokenization.
• Wireframe Development: Worked on creating detailed wireframes to serve as blueprints for Aconomy's user interface, outlining the layout, structure, and navigation flow for an intuitive and user-friendly design.

Quarter 2: Design Finalization and User Interviews

• Design Finalization: Selected color schemes, typography, and graphical elements to create a cohesive design theme for Aconomy, ensuring the visual appeal is aligned with the brand's vision and values.
• User Interviews: Conducted extensive interviews with asset owners and validators across diverse fields to gain valuable insights into user needs, preferences, and pain points.
• Turning Point: The combination of design finalization and user interviews marked a crucial turning point, shaping Aconomy into a platform specifically tailored to address real-world challenges and exceed user expectations.

‍Quarter 3: Laid the Groundwork for Aconomy's User Experience and Core Functionality

• Frontend Interface Development: Creation of the core framework, including user profile screens and the process for creating asset NFTs.
• Enhancing User Onboarding: Seamlessly finalized the user onboarding process and integrated it with Coinbase, MetaMask, and Wallet-Connect, with the added convenience of magic link wallet functionality using Gmail ID.
• Smart Contract Implementation: Finalized smart contracts for selling, auctioning, lending, borrowing, and swapping, establishing a comprehensive RWA-backed marketplace.‍
• Smart Contract Deployment: Successfully deployed the smart contract on the BSC Testenet and Polygon Mumbai Testnet to enable a wide range of users to access the product.

Quarter 4: Enhanced Functionality and User Experience

• Gasless Minting with Gelato Relayer: Implemented Gelato Relayer for gasless minting of asset NFTs.
• KYC & KYB Services Integration: Incorporated Shufti Pro’s KYC and KYB services for enhanced platform integrity.
• Validator Onboarding and Asset Validation: Completed processes for validator onboarding, profile setup, and asset validation.
• In-App Messenger Development: Introduced an in-app messenger for seamless communication between Asset Owners and asset Validators.
• Expansion of Aconomy on Arbitrum: Implemented smart contract deployment on the Arbitrum Testnet to enhance Aconomy’s accessibility for users on the Arbitrum network. 

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Release of Aconomy V1

• Polygon Mumbai and Arbitrum Testnet Launch: Aconomy V1 unveiled on the Polygon Mumbai Testnet and Arbitrum Testnet, inviting users to explore and engage.

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Aconomy's Product Launch Journey

• The Dawn of Aconomy - 25 August 2023 

Revealed Aconomy, a truly decentralized RWA-backed DEX - the first opportunity for our audience to glimpse the future of asset tokenization and on-chain trading.

• Early Access - 16 October 2023 

We rolled out early access to Aconomy, exclusively for our Early Supporters in tranches, offering these adopters a firsthand experience of the Asset Economy.

• The Open Testnet Launch - 16 November 2023

Launched Aconomy Open Testnet, an inclusive asset tokenization platform inviting everyone to explore, create, and trade asset-backed NFTs of their RWAs. 

• User Interface Enhancement: Guided by Community Feedback

Responding to community feedback, we enhanced Aconomy's User Interface, making it more intuitive and user-friendly to ensure effortless navigation and utilization of its features.

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Engaging, Enlightening, and Rewarding Community: A Year of Growth with Aconomy

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• Embracing Leadership - The Aconomy Ambassador Program

Released Aconomy Ambassador Program powered by Pandora Finance, encouraging global community involvement in shaping the on-chain Asset Economy.

• Enlightening Minds - The Aconomy Journal

The Aconomy Journal was introduced as a knowledge hub for insights on tokenized assets, DEX, real-world assets, and beyond, emphasizing our focus on community education.

• Exclusive Access - Aconomy Early Access Opportunity

We provided additional opportunities for members to join an elite group and gain exclusive early access to Aconomy. 

• Celebrating the Testnet Launch - The Aconomy’s Biggest Airdrop

Celebrating the Aconomy Testnet launch, we hosted the biggest $4000 USDT airdrop on Zealy, inviting widespread community participation and engagement with Aconomy. 

• Weekly Excitement - FunFriday Program

Every Friday turned into a day of enjoyment and rewards with our FunFriday Program, creating a sense of continuous excitement and community bonding.

• Community-Centric Campaigns

Hosted a variety of engaging campaigns like Meme competitions and RWA quizzes to foster knowledge, creativity, and active participation, strengthening the bond within our community.

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A Year of Strategic Alliances and Global Presence

• Expanding Reach - Aconomy on RWA.xyz & Tokeny

Aconomy has expanded its presence to platforms like RWA.xyz, Tokeny, RWA World, Product Hunt, SaasHub, and the dapp list, enhancing accessibility and reach for our latest updates and features.

• Influential Voices at World Tokenization Summit 2.0

At WTS 2.0, Aconomy's CEO Pushkar Vohra discussed decentralized asset tokenization and Aconomy updates, 

while Operations Lead Sakshi Chauhan chaired a panel on 'Women in Web3,' focusing on their role, challenges & the path to equitable Tokenization. 

• Founded RWATA - A New Initiative for RWA Ecosystem

Our CEO, Pushkar Vohra, collaborated with industry leaders like Hakan Sezikli, Daniel Coheur, and Zahid Mir to establish RWATA, demonstrating our commitment to fostering growth in the RWA ecosystem.

• Community Collaboration - Web3 Carnival Partnership

As a Community Partner in the Web3 Carnival, Aconomy played a key role in enlightening the audience about the intricacies of real-world asset tokenization and on-chain trading. 

• Panel Discussion Participation at MC2Fi

Pushkar Vohra's engagement in a panel discussion at MC2Fi brought forward Aconomy's vision and strategies for RWAs in the upcoming market trends.

• Global Insights at Token2049, Singapore

The participation of our Founder & CEO at Token2049 in Singapore was a significant stride - discussing the importance of bringing RWA on-chain and decentralized asset trading at the BG Trade event.

• Engagement and Networking at GITEX and WBS

Our Founder & CEO attended GITEX Global and the World Blockchain and interacted with key industry leaders and RWA advocates, discussing the potential of blockchain-powered liquidity in multi-asset classes and the emerging era of dematerializing RWAs. 

• Spotlight at WTS - Aconomy as Gold Sponsor

As a Gold Sponsor at WTS, Aconomy showcased its asset tokenization platform, demonstrating how users can tokenize and trade RWAs on-chain. 

• Digital Branding Milestone with aconomy.bit

Claiming aconomy.bit as our Digital Identity on @dotbitHQ was a significant step in enhancing our brand's digital footprint. 

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As the year 2023 draws to a close, Aconomy is well-positioned for ongoing expansion, innovation, and community collaboration. The journey so far has been marked by achievements that solidify Aconomy's position in the evolving era of decentralized asset tokenization. With a steadfast commitment to empowering the asset economy, Aconomy eagerly anticipates the opportunities and challenges that the new year will bring. Stay tuned for more updates and new developments in 2024!

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Key Takeaways: 

• Launch of Aconomy V1: Successfully launched Aconomy’s first version on Polygon Mumbai and Arbitrum Testnet. An asset tokenization platform where anyone can tokenize & trade their RWAs on-chain. 

• Product Development Focus: The development of Aconomy in 2023 emphasized user experience and core functionality, integrating with crypto wallet services, and implementing comprehensive smart contract capabilities for a robust RWA-backed marketplace.

• Community Engagement and Growth: Aconomy invested heavily in community engagement through various initiatives like the Aconomy Ambassador Program, educational Aconomy Journal, weekly FunFriday Programs, Airdrops, and creative campaigns to foster a strong and active community.

• Strategic Partnerships and Global Expansion: Aconomy expanded its reach and influence by participating in major industry events, forming strategic partnerships, and establishing a presence on various platforms, highlighting its commitment to the RWA ecosystem.

• User Interface and Experience Enhancements: In response to community feedback, Aconomy made significant improvements to its user interface, focusing on intuitive and user-friendly design to enhance the overall user experience.

‍Innovation in Real-World Asset Tokenization: Aconomy's approach to RWA-backed DEX demonstrated innovative solutions to challenges in the asset tokenization market, emphasizing a greener, more circular asset economy.