The first half of the year has recently concluded, and we wanted to give our community an update on what we managed to achieve during the first and second quarter of 2024. 

Apart from the numerous ongoing security and improvement updates that we introduced over regular periods of time, our team was mainly focused on the product development. 

As a result, we managed to develop and launch two new types of vaults into our MPC solutions - the Smart Vaults and the Automation Vaults. Both of the two vaults have completely different use cases and features and are a great addition to our general vault.

During the first half of the year, we focused on improving the onboarding process by creating an automated path for our customers. This path allows customers to complete the onboarding procedure without needing assistance from our team and at a time and place that is convenient for the customer. We refer to this automated path as "Automated Onboarding," which significantly optimizes the time required for opening an account and starting to use our solutions.

Lastly, but certainly not least (and we're starting with this because numbers do matter!), we have achieved some very impressive results thanks to all of our customers who trusted our solutions and have been improving their financial interactions with other organizations and third parties significantly. We are proud to share our numbers below.

Vaultody - H1 2024 In Numbers

The first half of 2024 has been remarkably successful for our team, and we have achieved impressive milestones. Here is a brief overview of our accomplishments:

Total processed assets in USD (H1 2024): +$10,000,000,000
Transaction processed (H1 2024): +10,000,000
Secured new wallets (H1 2024):+1,000,000

The start of the second half of the year has been very promising and if we keep that level of activities and usage, we are expecting even higher results at the end of 2024.

Smart Vaults

Smart Vaults are our second type of wallets (referred to as vaults in Vaultody) introduced to the market as part of our solutions secured with multi-party computing (MPC) technology, following our General Vaults.

Each of our three vault types serves different purposes and has distinct use cases. Smart Vaults were created to assist the daily operations of businesses that manage a large number of addresses.

If your business does not operate with a huge number of unique addresses, a different vault type might be more suitable for your needs. We recommend familiarizing yourself with Vaultody’s General Vaults and Automation Vaults.

The features of Smart Vaults allow our clients to generate as many deposit addresses as they require. Very soon, we will enable batch transactions, which could result in up to 90% savings on transaction fees.

Smart Vaults also address the common problem of wallet dust—small amounts of cryptocurrency left in various addresses that cannot be moved due to their size.

We solve this issue through our station address (also referred to as Gas Tanker), which covers all transaction fees within your vault. Customers pay only one fee when they place transactions, even when making batch transactions to multiple addresses. The station address saves money and resolves the wallet dust problem, as transaction fees are always deducted solely from the station address.

The combination of these features is what makes our Smart Vaults truly smart. We recommend reading a previous blog post for more detailed information on this type of vault.

Automation Vaults

Automation Vaults are our third vault type, released at the end of the first half of the year. They share many features with Smart Vaults, but also offer various unique features and use cases.

As the name suggests, Automation Vaults allow the creation and implementation of various automation rules, enabling more efficient and fully automated management of assets across the vault.

This makes Automation Vaults the perfect choice for enterprise customers who conduct numerous transactions and seek the same great benefits as Smart Vaults, such as station address, savings on transaction fees, and the elimination of wallet dust.

Unlike Smart Vaults, which allow manual transactions, Automation Vaults do not permit manual transactions. Clients must introduce specific automation rules that allow transactions to occur.

Once the predefined conditions set by the vault owner are met, transaction requests are automatically executed. All automated transactions maintain the same market-leading security level.

Additionally, there are no limitations on the number of automation rules that clients can introduce to their vault. To see how Automation Vaults compare to Smart Vaults and understand the importance of linking your addresses in Automation Vaults, please check this article.

Automation Onboarding

Vaultody`s automation onboarding, by definition, is the process automating the steps required for new users to create their account with us and start using our services. 

Our automation onboarding consists of several steps which now eliminate the need for manual intervention by our support team. We have introduced onboarding to ensure a much quicker, efficient and more user-friendly path for starting your journey with us. 

To open your account, please navigate to the Sign-up button located at the top right corner of our website. From there, our automated onboarding will take you through all necessary steps to get you started. This includes setting up your account details, verifying information, and accessing our platform without delay.

If you require any further assistance from our team, do not hesitate to reach out to [email protected], and our team will gladly assist with your inquiry.