10 MINUTES

Look Back at 2021 - An Year to Remember for SelfKey!

We look back at all the highlights from 2021 for SelfKey in terms of development, community-engagement, partnerships, etc.
05 Jan 2022
Sree
SelfKey 2021

It would be underwhelming to say that “2021 was an eventful year.” Every year more or less is eventful, but years like 2021 are nothing short of epic.

During the past year, SelfKey made some monumental progress along with the crypto market.

Here are some of the highlights of last year for SelfKey.

Project Development Updates

Passports & Residence Marketplace

Last year saw two important additions to the SelfKey Marketplace through the Passports and Residence Marketplaces. Both the Passports & ​Residence Marketplaces were one of the initial roadmap items.

Passports Marketplace

The Passports Marketplace allows SelfKey Wallet users to obtain alternative citizenship in various countries through investment programs. The alternative citizenship may open an array of opportunities for users personally and professionally.

Residence Marketplace

Similar to the Passports Marketplace, the Residence Marketplace allows users to get temporary or permanent residence in various countries through an investment program.

Read more about the Passports Marketplace and Residence Marketplace here.

POI Whitepaper

One of the biggest releases this year was the release of the POI Whitepaper.

The POI Whitepaper encompasses the future of digital identity and governance through verified identities. The Whitepaper includes several unique proposals, including the “Living Avatar NFTs,” which have the potential to be the identity layer of the Metaverse.

The implementation of the proposals included in the POI Whitepaper may help SelfKey evolve according to the new demands in digital identity.

SelfKey 2.0

SelfKey 2.0 is the latest announcement that was released as part of SelfKey’s enhanced vision, “KEY to the Metaverse.” SelfKey 2.0 aims to propel SelfKey as one of the leading identity providers for Web3 and the Metaverse.

SelfKey Wallet

WalletConnect Integration

The WalletConnect integration allows the SelfKey Wallet to connect to and interact with hundreds of dApps that already support WalletConnect.

Moonpay

The Moonpay integration and release were probably one of the most anticipated developments by the community. The Moonpay integration allows SelfKey users to purchase KEY tokens directly from the SelfKey Wallet using their Debit/Credit Cards.

MoonPay, is one of the most widely used integrations, including the TrustWallet (Binance’s native Wallet), for fiat-crypto on-off-ramp.

BSC Network Toggle

Currently only released in the mobile Wallet, the network toggle feature allows users to toggle between different networks like BSC or Ropsten Test network. 

BSC network toggle happens to be a major upgrade to the basic infrastructure of the SelfKey Identity Wallet as the upgrade enables users to store BSC assets as well as ERC-20 assets.

EIP-1559 Support

SelfKey Wallet was one of the first Wallet to release the updates to support the ETH network and fee structure change due to the EIP-1559 proposal.

Implementation of EIP-1559 was pivotal for the Ethereum network as it introduced a burning mechanism for the ETH network for the first time. Since its implementation, a total of ~1.2Million ETH has been burned, amounting to a monetary value of more than U.S. $5 Billion, at the time of writing.

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Community Updates

Exchanges Listing

Numerous prominent and upcoming exchanges decided to list SelfKey’s native token, KEY. With each exchange listing, the SelfKey community keeps on growing and spreading all around the world.

KEY & KEYFI Double Airdrop

In February, SelfKey collaborated with KeyFi to announce a double airdrop for KEY token hodlers on Binance.

Both the airdrops were planned with five snapshots, with the KEYFI token one happening on the 28th of each month starting from 28th February 2021, and the KEY token one on the 8th of each month starting from 8th March 2021.

The airdrop design was in such a way that the average holding of the user over the five snapshots was to be used for the airdrop distribution. Such a design primarily ensured that users could maximize their holdings over these five months. Moreover, it also helped users who missed a snapshot to participate in the airdrop by holding enough tokens that would make up for the missed snapshot.

After the successful completion of all the five snapshots concerning the KEY and KEYFI double airdrop, the distribution of the airdrop happened on 13th July through Binance.

Partnerships

In addition to the exchange listings, SelfKey entered into strategic partnerships with numerous other crypto projects. Here is a list of the same:

How the Future Looks for SelfKey

As we look back on a past year of successes and multiple important releases, the future looks bright for SelfKey. The new year brings new opportunities, with the traction overall in the crypto space, the product-market fit for a SelfKey living avatar in the Metaverse, and credentials catching on for DeFi KYC - SelfKey is set to play a crucial part in solving the identity conundrum for DeFi, Web3, and the Metaverse.

SelfKey hopes for relentless support from its community as it navigates through new waves of opportunities.

SelfKey wholeheartedly wishes the SelfKey community and their loved ones a great holiday season and an excellent start to the next year.

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