IBAX 2023 Q1 Summary

Advancements in Cross-Chain Capabilities and Ecosystem Partnerships

Dear IBAX users,

We are excited to share with you our progress in Q1 2023. In this quarter, we continued to advance our cross-chain capabilities and strengthen our partnerships with ecosystem partners. Here are some highlights of our achievements:

Cross-Chain Asset Transfer

We have made significant progress in the design and implementation of cross-chain asset transfer, enhancing the logic and code implementation while adding features such as error handling and prompt notifications. We conducted extensive testing and resolved various issues, such as transaction timeouts and duplicate submissions, while optimizing the code to ensure seamless cross-chain transactions.

Improved Contract Security and User-Friendliness

We optimized basic contracts and migrated some costs to the contracts to reduce user costs. Previously, some operations required high transaction fees, which was not user-friendly. Therefore, we optimized these contracts and migrated some costs to them, reducing user operating costs.

Enhanced Stability of Virtual Machines

We analyzed and debugged virtual machine crashes, which resulted in improved stability. We are currently working on resolving the issue of virtual machine cost probability anomalies. We found that in some cases, virtual machines could generate abnormal cost probabilities, resulting in users paying excessive or insufficient transaction fees. We have conducted in-depth research on this issue and found a solution.

Partnerships with Google and Ecosystem Partners

We had multiple meetings with Google's technical team to discuss technical details and implementation plans. We also discussed future cooperation directions and plans, reaching some initial consensus.

We engaged in deep discussions with several ecosystem partners about product features, user needs, development plans, and timeframes, reaching some preliminary agreements. We will continue to strengthen communication and coordination with ecosystem partners to ensure that the ecosystem project is completed on time and achieves expected results.

Operational Enhancements

We developed an administrator's manual, community management process, solutions to common community issues, and performance regulations for administrator rewards. We analyzed the feedback and effectiveness of the first round of airdrops, formulated more precise target user groups, and designed a new round of reward mechanisms to attract more users. We set the airdrop time and quantity, wrote and released promotional materials, including posters, articles, and other forms to increase user participation.

Conclusion

We are proud of the progress we made in Q1 2023 and are committed to continuing to advance our cross-chain capabilities and ecosystem partnerships. We appreciate the ongoing support of our users and look forward to sharing more updates with you soon.

Thank you.

Best regards,

IBAX Team