What a year, Shyftoshis! We’ve come a long way since the official launch of the Shyft Network Mainnet in July of 2021. It’s hard to believe how much has happened in only four months.
We find ourselves in an exciting and undoubtedly challenging time for the entire crypto and blockchain ecosystem. As our world experiences growing institutional adoption, regulation will inevitably increase, leading to even more of a need for compliant solutions and frameworks that maintain privacy and trust — and create opportunity out of these changes.
Crypto markets are experiencing constant turbulence as global economies navigate before unprecedented inflation rates and the continuous challenges of COVID worldwide. At Shyft Network, we’re hard at work bringing on new partners, exchanges, and governmental bodies who will utilize our attestation framework and Veriscope Travel Rule solution and look to the future of compliance across DeFi and NFTs. We’ve got a lot done in the last year since we published our roadmap back in April and had a massively successful IDO.
Below, we’ve listed some highlights from this monumental last year for our platform. Best of luck to everyone in these exciting yet uncertain times. We’re all in this together and share the same space and hope for a positive and productive future. Keep building and looking towards the long-term opportunities around us all.
We’ll see you in 2022!
We always love to see Shyft Network out in the media and on podcasts spreading our gospel! 2021 saw our fearless leader Joseph Weinberg appear on Decrypt Daily and The Block to discuss the newly-released FATF Guidance, CryptoCoinShow, Coin Desk TV, and Charlie Shrem’s Beyond the Base Layer for a deep dive on all things Shyft. Joseph also went on Bitcoin Stories and Cryptonites for a look into our platform, compliance, and lots more.
Joseph was also featured in an article on Facebook’s Meta and the growing issue of “meta-crime” in New Republic, and a stellar op-ed in Cointelegraph on the future of Compliant NFTs and regulation in the space. To wrap up this monumental year, he also shared some 2022 predictions for the crypto industry and what to watch out for on the regulatory front for Cointelegraph. Thanks for reading (and listening!).
2021 was the biggest year yet for the rollout of Versiscope, our Travel Rule solution for exchanges, governments, and businesses. In June, Shyft Network & Veriscope went public with an official response to FATF’s March guidance, responding section by section with their collective thoughts and constructive feedback to how the guidance can be improved. This helped set the scene for what was to come…
In November, we shared the news that leading stablecoin Tether (owned by Bitfinex) had begun testing and integrating Versicope. Later in the month, we announced that Shyft Network has officially open-sourced the Versicope technology, making it free and simpler than ever for people to use. This update came two months after we shared the latest list of exchanges involved in the phased deployment of Veriscope on our Network. Participating exchanges included Binance, Tether, Deribit, Bitmex, and Huobi.
In 2021, we shared partnership announcements with Oasis Network, Polygon, Polkamarkets, Tether, Panther Protocol, Chainsafe, Kylin, Tapmydata, as well as the lengthy list of exchanges that began phased deployment of Veriscope.
We also we’re thrilled to have seen The Shyft Node Federation, consisting of all validators for the Shyft Network, publicly sign off on voting guidelines and node rights and responsibilities via the Shyft Node Federation Constitution. The federation included CoinShares, Maven11, Fabric, ClicketyClack, Connect Capital, AD Node, Staking Team, Merkle Trading, BlockUnity, Paycase Financial, DeFi Technologies, Mempool Partners, Nodebased, NP IR, among others.
From compliant DeFi, to data, deployment of the Shyft Bridge, and Veriscope testing, we’re proud of the new platform who came on board to build with us. On that front, we’re still just getting started. Look out for tons of new partnership announcements on the way in Q1 of 2022.
For anyone interested in our Tokenomics, we published a three-part series on the topic on our blog over the last year. Check out each section below to learn about the details of the SHFT token economics and distribution schedules within the Shyft Network protocol.
As the year came to a close, we were hyper-focused on growing the Shyft Network community. ICYMI, in December we launched an awesome NFT giveaway campaign to kick our Discord. We gave away a Doodle NFT to one lucky Shyftoshis, plus thousands of $SHFT tokens to lower-tier winners. Check out our full recap blog on the campaign, which received over 10,000 entries and helped nearly triple the size of our Discord members.
We also had a Discord Design competition, where community members put on their art caps to create some insightful and hilarious memes, GIFs, and stickers about Shyft. See some examples below!
We have a lot more coming for our community across Discord, Twitter, and Telegram in the year to come including AMAs, more campaigns, and tons of educational content on our platform and how you can be a part of it.
Winners of the design competition will be announced shortly.
In 2021, following our token sale and launch, we worked hard to consistently educate the Shyft Network community on how our platform works and what problems we’re solving across regulation and compliance in blockchain and crypto. From Shyft 101, to compliant DeFi, explaining the SHFT Token and our initial Roadmap, Check out what we published in 2021 below!
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