What’s new? Staking support, accounting module, smart recalculations, beta migration and more

Dear Crypkit users, we would like to share with you the latest product updates.

Functionalities 

First and foremost, we have expanded upon or added new functionalities. These include adding support for new coins or additional features for the existing ones. 

Out of those that are additional we have included tracking staking for YFI, Cosmos, REN, Synthetix, Decred, Loopring on the back-end

One of the biggest problems other tracking services face is Ampleforth’s changing supply. Its mechanism is adjusting its supply in response to demand and was designed to be the simplest direct solution to the supply inelasticity problem. This is why holders of the AMPL tokens have a varying balance in their ETH addresses. We have developed support for this updating supply issues of AMPL tokens, so now Crypkit shows correctly its users balance.

We have finished a lot of work on the back-end for supporting historical data for CEX  exchanges – DB structure, sophisticated solution of API rate limits and data storing. 

As you know, Crypkit app is full of different calculations – portfolio value, classes of shares, fees, referrers rewards and many more. All of this stuff has to be recalculated smartly and quickly based on users changes in portfolio, CRM etc. This is why we have added a smart recalculation feature that is going to provide accurate data, having to recalculate all the different variables in real-time. 

Another important addition to our features is tracking liquidity providing, most specifically for the most popular exchange Uniswap and the Balancer protocol. Now our users can track all of the operations through Crypkit, from swaps with all the needed token information to specifics related to liquidity providing like reward calculations, dealing with impairment loss etc. 

User experience 

One of our next points of focus is user experience and ease of use. The cryptocurrency market is complex enough, so we are determined to make its tracking the most intuitive and straightforward as possible. 

This is why we have been making updates to the website both in the design esthetics and experience. A new version of the website has been released with respect to the feedback we’ve received from our clients. We have been working intensively to improve the overall experience having in mind what our users require and gradually implemented these changes into the application. 

Milestones 

We are proud to say that two major milestones have been achieved in the last month. First, we have released a new beta version to the public and migrated all of the accounts from alpha to the beta version. 

Second, but equally important, we have released a fully functional accounting module.

Now you can keep track of all contracts, invoices and transactions and use reporting tools for easier filtering and visual representation. Bringing your accountant into the platform, you can utilize these features to do all of the data sorting natively, and later export all the needed information for tax authorities. 

This brings more ease when it comes to accounting as your accountant can have first-hand experience with your operations and help manage your documentations without the need to double spend the time on data reconciliation. 

Looking forward 

We maintain a positive outlook for the month of November with further plans to make the platform upgrades already in progress. We will keep up with working on the platform’s improvement for the benefit of our users in hopes to bring you the most comprehensive platform for cryptocurrency tracking. In that way we aim to bring more data-driven decision making to those that navigate funds through this highly volatile market.

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