Welcome to the inaugural edition of the Openchat Yearly Roundup. 2024 has been an extraordinary year for Openchat, marked by significant milestones and remarkable achievements. This roundup provides a comprehensive overview of the year’s highlights, showcasing key data, metrics, charts, indicators, news, and accomplishments that have defined Openchat’s journey in 2024.
In 2024, Openchat achieved a significant milestone by being listed on multiple Centralized and Decentralized Exchanges, marking a major step forward in its journey to global adoption. Here are some of the notable listings:
Centralized Exchanges
- BitMart: OpenChat (CHAT) was officially listed on BitMart’s digital assets platform on October 11, 2024.
- Coinstore: CHAT was listed on Coinstore on September 13, 2024.
- Bitrue: CHAT was listed on Bitrue on August 1, 2024.
- LBank: CHAT was listed on LBank on July 31, 2024.
Decentralized Exchanges
- KongSwap (October 18, 2024): OpenChat partnered with KongSwap, integrating KongSwap’s token swap functionality directly into the OpenChat platform.
- Helix Markets (March 26, 2024): OpenChat ($CHAT) officially launched its token trading on Helix Markets. Trading began on Tuesday, March 26, 2024.
Partnerships and Integrations in 2024
In 2024, OpenChat forged multiple strategic partnerships and integrations, further expanding its ecosystem and solidifying its position in the Web3 landscape. Here are the key highlights:
- Goblin Studio Integration (January 19, 2024):
Goblin Studio officially integrated with OpenChat. - Signals Integration (February 1, 2024):
Signals announced its integration with OpenChat, enabling users to send messages seamlessly to people on the Signals platform. - TokenTerminal Partnership (February 28, 2024):
OpenChat partnered with TokenTerminal to publish high-quality, verified application metrics. This collaboration enhances transparency and provides valuable insights into the platform’s performance. - Silver Sponsorship of ICPCC 2024 (March 20, 2024):
OpenChat joined the ICPCC 2024 as a Silver Sponsor. - IC Footprint Partnership (April 19, 2024):
OpenChat partnered with IC Footprint to collaborate on their upcoming IC Footprint 2.0 This partnership focuses on driving a sustainable future for cryptocurrency, promoting the concept of #CleanCrypto. OpenChat becomes the first DAO to integrate IC Footprint 2.0 — a sustainability protocol that harnesses the power of ICP smart contracts. OpenChat commits to actively decarbonising by acquiring renewable energy certificates and carbon credits. Source: oc blog - CLS Global Partnership (July 31, 2024):
OpenChat announced its partnership with CLS Global, which became its official market maker, strengthening liquidity and enhancing market operations.
New Features and Innovations in 2024
Throughout 2024, OpenChat introduced a range of groundbreaking features and enhancements, solidifying its position as a leading decentralized social platform. Here are the key additions:
- Video Chats:
OpenChat expanded its communication capabilities with the introduction of video chat functionality. - Broadcasts:
The platform now supports broadcasts. The Broadcast functionality on OpenChat is a game-changer for content creators. It provides an engaging platform for hosting Q&A sessions and AMAs, enabling direct interaction with your audience in real time.
To everyone reading this: Don’t miss out! Be sure to join my weekly broadcasts for insightful discussions, exclusive updates, and the opportunity to ask your burning questions directly.
- CHIT to CHAT Implementation:
CHIT is a points based reward system, designed to encourage user activity and growth. The CHIT to CHAT campaign was highly successful, leading to a significant increase in both daily active users (DAU) and monthly active users (MAU) on OpenChat. - New Identity Layer:
OpenChat introduced a versatile identity layer, enabling users to sign in using a variety of methods, including:- Ethereum
- Solana
- PIN Number Verification for Token Transfers:
To enhance security, OpenChat introduced PIN verification for token transfers, adding an extra layer of protection for user transactions. - Significant progress made towards supporting bots:
- Phase 1 Bot Framework: Development of the bot framework for Phase 1 is complete, though it has not yet been fully released.
- Example Bots: Two example bots—one canister bot and one off-chain bot—are fully operational in a test environment, demonstrating end-to-end functionality. Here is a teaser.
Moreover, OpenChat offers a range of engaging features that enhance user interaction and functionality, including:
- Polls: Facilitate community engagement and decision-making.
- Prize Messages: Add a fun, gamified element to communication.
- Token Swaps: Enable seamless exchange of tokens within the platform.
- Memes and GIFs: Allow users to share and create dynamic, expressive content.
- Crypto Messages: Integrate cryptocurrency interactions directly into messaging.
One of the standout features is the wallet integration, which allows users to manage their assets across multiple projects within the ICP ecosystem. The built-in wallet enables users to:
- Hold tokens from various ICP-based projects.
- Send and receive tokens directly within OpenChat.
- Swap tokens, providing a seamless and secure DeFi experience.
Team Growth in 2024
The OpenChat team expanded significantly in 2024, bringing on board experienced professionals to drive growth and innovation.
New Core Team Members (Starting January 2025)
Two highly skilled professionals joined the core team, enhancing OpenChat’s capabilities to achieve its ambitious goals:
- Jesse Friedman
A prominent figure in the ICP ecosystem, Jesse is now responsible for product and marketing strategy, as well as the overall promotion of OpenChat. - Ivan Jukić
An accomplished full-stack developer with prior collaboration experience with the OpenChat dev team, Ivan strengthens the platform’s technical foundations.
Before diving into the most relevant data points for OpenChat, it is important to highlight a notable recognition from the media. On May 9, 2024, CoinTelegraph published an article titled “The Future of Online Communication: Secure and Censorship-Resistant Chat on Blockchain.”
This article explored OpenChat’s innovative approach to decentralized communication, emphasizing its potential to transform the way people connect online by offering a secure, censorship-resistant platform built on blockchain technology.
The full article can be accessed here: CoinTelegraph: The Future of Online Communication.
Let us now turn our attention to the most pertinent data, charts, metrics, and indicators that define OpenChat’s performance and achievements in 2024.
OpenChat currently boasts an impressive 205.4K users, with 92.7K of them joining through referrals. Comparatively, in December 2023, the platform had 120.4K users, meaning 85K new users were added in 2024. This growth represents a remarkable 70.6% year-over-year (YoY) increase, underscoring the platform’s rapid adoption and expanding reach.
Source: tokenterminal
OpenChat continues to demonstrate impressive growth in both its user base and engagement levels, reflecting the platform’s increasing popularity and the effectiveness of its initiatives. Here are the key highlights:
- Growth in Daily Active Users (DAUs):
Since February 2024, OpenChat’s daily active users have grown by a staggering 7x, increasing from 2,000 to 15,000 DAUs. - Increase in Time Spent on the Platform:
User engagement has risen significantly, with the total time spent on the app daily growing from 300 hours in February 2024 to 2,300 hours. On average, a daily active user now spends approximately 10 minutes per day on OpenChat.
Source: tokenterminal
A significant milestone has been achieved on OpenChat, as 25,000 users have successfully submitted proof of unique personhood via DecideAI. This accomplishment represents approximately 10% of OpenChat’s total user base, highlighting the platform’s commitment to ensuring authenticity and fostering trust within its growing community.
Holder Statistics: OpenChat (CHAT) Growth in 2024
Total Holder Growth
- Current Addresses: 142,517
- New Addresses (Last 6 Months): 44,344
- Growth Rate: 45.1% increase over the past six months
Analyzing Meaningful Wallets: A Closer Look
Let’s delve into meaningful wallets, defined as those holding at least 10 CHAT tokens.
CHAT Meaningful Wallets (10+ CHAT)
- Current Wallets: 15,639
- Growth (Last 6 Months): 468 new wallets
- Growth Rate: 3.1% increase in six months
Continuing our analysis, let’s examine the growth in meaningful wallets holding at least 100 CHAT over the last six months:
CHAT Meaningful Wallets (100+ CHAT)
- Current Wallets: 5,865
- Growth (Last 6 Months): 85 new wallets
- Growth Rate: 1.47% increase in six months
Now, let’s look at the growth in meaningful wallets holding at least 1000 CHAT over the past six months:
CHAT Meaningful Wallets (1000+ CHAT)
- Current Wallets: 1,583
- Growth (Last 6 Months): 192 new wallets
- Growth Rate: 13.8% increase in six months
Let’s now examine the growth in meaningful wallets holding at least 10,000 CHAT over the past six months:
CHAT Meaningful Wallets (10,000+ CHAT)
- Current Wallets: 371
- Growth (Last 6 Months): 32 new wallets
- Growth Rate: 9.43% increase in six months
The supply held by wallets containing 1,000 to 10,000 CHAT and 10,000 to 100,000 CHAT has seen a rapid increase over the past six months. This trend highlights significant accumulation by mid-sized investors, reflecting growing confidence and interest in the OpenChat ecosystem.
OpenChat has seen incredible growth in 2024. One of the biggest highlights is the 7X increase in daily active users and the 8X increase in online engagement time, showing just how much the platform is resonating with its audience. On top of that, the CHAT token ecosystem has grown significantly, with a 45.1% increase in wallets over the past six months and a 70.6% growth in users in 2024—truly impressive achievements.
A huge congratulations to the OpenChat team for all their hard work and dedication. I’m excited to see what’s next and can’t wait for even more accomplishments, updates, and partnerships in 2025. Keep up the amazing work!
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