We are pleased to announce end of year results for 2021–22 (year 4) for Spectre.ai.
- Actual number of total traders by end of quarter = 10,101. This reflects an all-time high.
- Actual number of traders within individual quarter = 1,301. This is the lowest for 18 months.
- Actual number of total registrations by end of quarter = 134,553, nearly 45% higher than the 93,720 registered by the end of the previous year.
- Actual number of registrations within individual quarter = 4,930.
- Total volume traded within individual quarter = $3,002,094 . This is slightly higher than Q3 but down on this time last year.
- Number of users who have used SXUT to upgrade = 127 (no change).
- Number of wallet accounts since launch = 62 (no change).
- Decentralization factor (since launch) = 0.61% (lowest ever).
- Paid out winnings = $1,313,733.
- SXDT rewards paid out = $222,633.
Y4 Results (April 2021 to March 2022):
- Total number of new active regular accounts in Y4 = 3,505 (compared to 3,318 in Y3).
- Total number of new registrations in Y4 = 40,833 (compared to 57,615 in Y3).
- Total volume traded in Y4 = $13,248,893 (compared to $15,143,757 in Y3).
As highlighted in the last update, weaker trading volumes have been evident in the last 6 to 9 months, in line with certain other retail platforms that have seen the activity of their clients drop compared to previous quarters due in part to the slowing of the retail trading boom that began with pandemic lockdowns.
Specific to us, the general worldwide crackdown on short term synthetic trading continues, be it old-style binary options that some of our competitors continue to offer, other similar products, or even our digital contract style trading. Recently, some fairly high profile affiliates and influencers in countries such as Indonesia and Brazil have been prevented from promoting such products. With increasing options for retail traders around the world (be it social trading, HYIPs in crypto, Robinhood etc) competing for wallet share, competitive forces continue to weigh down on volume growth.
Last but not least, the recent situation in Ukraine resulted in an immediate 15% drop in volumes via the MT2 bridge, in particular by Russian traders, we suspect owing to the sanctions imposed on the country. These have begun to be replaced elsewhere, since.
As previously mentioned, we are very close to the launch of our front-end platform upgrades (with major back-end upgrades already through), and later in the year, A-Book integration is on the agenda as per our whitepaper in 2017. We are partnering with a major regulated CIF liquidity provider to bring traditional equities, forex, indices, crypto and other assets to Spectre.ai, thereby dramatically increasing the scope of the platform and allowing traders to buy and sell close to 2,000 assets with and without leverage. The A-book integration will also incorporate social trading along with expanded access of our ‘broker-less’ wallet with key partnerships with major blockchains.
These are a range of measures, along with others, to try and expand volumes over time and achieve significant scale.
Elsewhere in the group, unrelated to Spectre.ai, inflation fears, growing macroeconomic uncertainty and a lull in the blockchain markets have dampened investment returns. These factors continue to weigh down on investment income performance. However the group continues to make strategic investments in preparation for a market recovery in order to continue to grow its investment activities.
As for SkillGaming, the group’s gaming activities; these continue on a positive trajectory with close to 15 paid partnerships signed(some subscription based, some one off, some recurring sporadic), including 4 whitelabels. Discussions continue with further whitelabel partners (some, listed companies) with some progressed to the contract-signing stage, outcomes of which we expect in the coming quarter. Slowly, but surely, SkillGaming’s value proposition is becoming clear, on the b2b side of things within the growing gaming industry.
As for Spectre Exchange, the group’s regulated exchange, the pending launch of CHAOS (under the DART project) along with the listing of a few prominent tokens is likely to result in a new, stable and complimentary source of revenue for the group and SXDT. We expect a new listing, every quarter with most listings being of tokens that pay rewards based on resource or actual value-based revenue.
The group’s focus on R&D continues unabated. Areas of resource allocation continue to be Phoenix (which contributes to revenues in certain weeks) and its MEV (miner extracted value) research. Elsewhere, the Skillgaming company, under Karen Yap, has contracted a team of 8 full-time staff solely focused on creating an Unreal engine based Metaverse platform with the goal to offer this as a service to its growing roster of partners, down the road. The status of these projects are experimental.
Guidance for the coming year
After posting the best year so far last year, we expect the tricky market conditions to weigh down on rewards and expect rewards to fluctuate in the $10k-20k/week range this year, until sufficient scale is achieved on one of the product lines and/or windfall gains achieved by investments. The latter is dependent on market conditions. Outlier weeks may, however, result in higher rewards. A special reward will be paid in May and we expect the ongoing Blitz based SXDT buyback to complete by the end of Q2 (end June).
The firm will be holding a strategic webinar later in April to discuss the results of the last quarter and full financial year, the developments that took place during this period and many more items on the future of the project. The webinar is open to token holders only and details of this webinar will be sent shortly.
Regulatory Notice: Spectre.ai is strictly closed to U.S citizens. Trading and investing involves high risk and you can lose all your money.