6 months LIVE and it has already happened so much. First of all, we need to thank You for using and trusting LOCK.

Today we would like to present 10 achievements that we’ve reached within the last 6 months that are worth mentioning in our opinion that will give an impression what can be expected of LOCK in future:

1. 870 Masternodes at the peak and 674 Masternodes currently that amount to 13’480’000 $DFI are a huge success for us, a Staking Provider that just launched 6 months ago. The drop to 674 Masternodes is not a loss, since many just moved their $DFI to the Yield Machine (Yes, we want to activate the YM again, once DeFiChain provides sustainable yield again) that offered more APR/APY. Our goal has not changed and we still want to operate 10% of all Masternodes eventually (15’804 Masternodes in the entire DeFiChain ecosystem). We’re very confident to be able to achieve that, since we’re not only offering the highest yield on DFI on DeFiChain (12.20% APY currently), but we’re also offering the most flexible Staking solution out there with our Reward Diversification, plus by being available in multiple wallets.

2. AT the peak, we had $20m+ AuM across all products (Staking + Yield Machine) which is just astonishing considering that LOCK was only launched a couple of months ago. Of course, the total AuM decreased due to the deactivation of the Yield Machine and falling Crypto prices, however we’re more than confident that we’ll see new record AuMs at LOCK, once the Crypto markets recover and DeFiChain gains more and more utility and thus, value again.

3. Decentralization through LOCK: The entire DeFiChain ecosystem benefits massively from LOCK as a new Staking Provider to further distribute the Masternodes and dissolves the huge centralization of CAKE caused by operating the vast majority of Masternodes (currently 11’081 Masternodes of 15’804 Masternodes in TOTAL) of the entire DeFiChain. That exposes the protocol to certain risks and is a huge concentration of power at a centralized intermediary that you don’t want to have in a decentralized protocol. Furthermore, LOCK empowers anyone to participate in the Voting Rounds of DeFiChain from the 1st $DFI staked at LOCK, a unique feature in the entire ecosystem and the chain benefits from it tremendously by increasing the voting turn out and giving anyone out there the chance to vote without investing 20’000 $DFI to run a Masternode. Upcoming DFIPs regarding the DUSD/dToken issues will determine the potential success or failure of DeFiChain and LOCK gives anyone the opportunity to shape this future through the votings.

4. Started out as a global Staking Provider, LOCK launched 3 products just within a matter of few months: the LOCK Yield Machine (YM) & the Reward Diversification next to Staking. This insane speed was just possible due to our team fully committed to DeFiChain in order to push the ecosystem and decentralization. Currently, the YM is paused due to the low Rewards that can be generated on DeFiChain, however we’re willing to as well as committed to continue the YM, once DeFiChain delivers sustainable returns again.

5. LOCK is available in 2 major DeFiChain wallets: 1) DFX Wallet & 2) Jellywallet. This way LOCK is natively available in a mobile app and the web-browser providing our service to all preferences of our users. Later-on, the LOCK service is also supposed to be available on the LOCK.space website.

6. The 1st of its kind automated Reward diversification in the Crypto space provides you with the full flexibility and lets users manage their risks automatically. By being completely free to choose in which asset one wants to receive his Rewards, users can automatically diversify their investments. For instance, by choosing to receive Stablecoins as Rewards (at least to a certain degree), users are able to meet their tax responsibilities by putting aside the Stablecoins for tax purposes without the risk of losses by volatile Crypto prices, when the tax payments are due. Furthermore, you can basically receive your Rewards in any kind of DeFiChain asset, e.g. dBTC, dETH, dUSDT/C and even in LP Tokens like dBTC-DFI or dETH-DFI. In combination with DFX you even receive your Staking Rewards right into your bank account, e.g. as daily interest.
   Of course, a combination of different Reward assets is also possible on a percentage basis. You can choose up-to 100 different Reward assets in a 1-click manner.
   Masternode holders have also the chance to compound their Rewards at LOCK automatically or diversify their Block Rewards into other assets by sending the Rewards to the LOCK deposit address - another unique offering in the DeFiChain ecosystem. See here how.

7. Best yields in the entire DeFiChain ecosystem: LOCK has always provided the highest yields among all service providers on DeFiChain. Currently, we’re offering 12.20% APY for Staking your $DFI which is by far the highest return. Even more important, we’re offering a reliable and fixed return, so that you can plan and calculate with the same amount of Rewards each day. This is also a unique offer in the entire DeFiChain ecosystem. The high yields combined with our Reward diversification turns LOCK into the best & most flexible Staking service out there.

8. LOCK is the most secure way to earn yield on your Cryptos. Due to our sophisticated Security set-up based on Cryptography, LOCK is able to offer a maximum of security for custody of customer funds. We store customer funds in cold storage, on our own developed cold wallet. Nobody has access to that cold wallet alone, since the Private Key for access is split into 3 parts in a 2×3 Multi-Signature set-up, so that at least 2 independent people need to come together and follow a strict protocol to recover the cold wallet in order to access customer funds. Additionally, there is a limited interface, so that the cold wallet remains off-line at all times and the interface only lets through specific commands in order to execute the necessary commands for transactions. Furthermore, this entire set-up is redundant which means that it is built up at different places in physically and digitally protected rooms and shuts down, in case access is tried to be gained by force. Another security pillar is the transaction control that checks all transactions (e.g. withdrawals) in two independent ways: 1) by checking the LOCK data base and 2) by double-checking the Blockchain data. This is done by two independent teams. LOCK works like a smart contract and only executes commands received by its users. LOCK users steer their funds with Private Key signatures which are obligatory for transactions, e.g. if users want to withdraw funds. This way LOCK can only act on behalf of its users, since a cryptographic signature is always needed.
   How this all comes together in detail? Watch the full video of LOCK’s security concept here.

9. LOCK lives & breathes FULL transparency, so that any transaction can be tracked, traced & verified, so that misuse of funds would immediately be recognized and LOCK is under constant surveillance by users and basically anyone out there. The key tool is our Staking Transparency Report by which users can fully understand the entire fund flow of customer funds, can verify that all funds are covered, are not used for anything else than Staking and can check whether company and customer funds are clearly separated which they always are. Users can follow the entire fund flow at LOCK via the DeFiChain Blockexplorer.

10. We can say, with a bit of proud that LOCK became a solid player within the DeFiChain ecosystem in only 6 months fostering DeFiChain, known and recognized by anyone in the DeFiChain community, although not anyone may use LOCK yet. LOCK keeps pushing to remain the best and most profitable Staking provider for DeFiChain and its community to make this protocol really decentralized and not only pseudo-decentralized. Your feedback proves that we’re right on track and that our service is very well needed.

So, thank You again for being part of this journey which would have never been possible without You. Please don’t hesitate to reach out in case of any question or feedback via [email protected] or via our Telegram channels anytime.

Your LOCK Team