IBAX

In 2023, the IBAX public chain made steady progress in several dimensions including technological R&D, ecosystem buildout, and user experience.
On the technology side:
I. R&D Work
On the R&D front, we deeply optimized the underlying infrastructure and functional modules on the chain, enhanced the security and fluidity of the cross-chain system, and enriched the types of on-chain services.
1. Optimized basic contracts to reduce user costs
We optimized the basic smart contracts and implemented a gas fee sharing mechanism to effectively reduce users’ operating costs. This improved the usability of contracts and allowed more users to enjoy on-chain services.
2. Enhanced virtual machine stability
Through debugging and fixing, we strengthened the reliability of the virtual machine, avoided anomalies in the probability of calculating costs, and ensured the reasonableness of transaction fees. This further consolidated the business infrastructure on our chain.
3. Expanded types of on-chain services
We enriched the business types on the chain by introducing innovative services like prediction markets, NFT markets, etc. We also customized multiple computational models to meet the needs of different application scenarios. This greatly expanded the scope of applications on our chain.
4. Optimized cross-chain systems
In the cross-chain module, we enhanced the security of cross-chain asset transfers and fixed several bugs in cross-chain operations. This ensured the stability of cross-chain transactions and laid a solid foundation for the interconnection of public chains in the future.
5. Improved security audit systems to effectively prevent risks
We introduced third-party security agencies and improved security audit and vulnerability response systems. This safeguarded business security and enhanced user confidence in protecting on-chain assets.
II. Ecosystem Buildout
In public chain ecosystem buildout, we collaborated with partners like DeFi ecosystems, wallet ecosystems to build scene-specific applications across vertical domains. By strengthening internal coordination, we promoted ecosystem development and provided high-quality decentralized services to users.
1. Improved internal collaboration efficiency
We established phased work mechanisms and strengthened communication and collaboration between R&D, product, operations, and other teams. This ensured the smooth ecosystem buildout and effectively coordinated on-chain and off-chain resources.
III. User Experience
On user experience, we optimized operation processes and improved the usability of public chain services. Meanwhile, we highly valued user feedback, promptly responded to user issues, and continually enhanced their sense of participation.
1. Streamlined operation processes
In response to user feedback, we adjusted transaction and storage processes and realized one-stop operations, simplifying the workflows for utilizing on-chain services. This lowered the learning costs for users and provided smoother experiences.
On the operation side:
I. Improved Administrator System Buildout
We formulated administrator manuals, community management process standards, common problem-solving guidelines, and administrator performance evaluation mechanisms for IBAC. This facilitated management teams in carrying out work more efficiently and standardly, and in providing high-quality services to community users.
II. Continuously Conducted Community Operations
1. Conducted user analysis and formulated the second round of airdrop programs
We analyzed first-round airdrop users, gained an in-depth understanding of target user group characteristics, and accordingly designed customized airdrop programs. But considering product upgrades were in progress, the team decided to postpone the airdrop activities for the time being.
2. Strengthened day-to-day communication
We actively responded to community user appeals, solved blockchain technology problems, and proactively engaged in business interactions. This strengthened user stickiness and effectively maintained the community.
3. Conducted multi-channel content marketing
We posted IBAC public chain updates, product iterations, partnership dynamics, event notifications, etc. across social media and other platforms to conduct all-around promotions.
Looking ahead, IBAX will continue pursuing technological innovation and business exploration with dual drivers.
On the technology front, we will continue upgrading underlying protocols iteratively to reach industry-leading TPS metrics, optimizing incentive designs to lower development barriers.
On the business end, we will deepen coordination with upstream and downstream partners to construct “blockchain +” solutions and expand scenarios for project implementation. Additionally, we will improve branding strategies, community operations, business monetization and other operational systems to sustainably power public chain growth.
The IBAX public chain will uphold the values of collaborative construction and sharing, working sincerely with ecosystem partners to develop an open, efficient and easy-to-use world-class public chain.