Building a Decentralized Future: Updates on Local’s Progress

Local Money
2 min readFeb 28, 2023

Time flies when you’re building but it’s important to take a step back every now and then to make sure we’re still headed in the right direction.

A lot has happened in the past few months. We finished up our core features and made the protocol ready for testing, got audited by the amazing A10 Capital team, and released our beta on mainnet. It took a lot of resilience and hard work from the team to get here, and we are proud of the work and the community that grew around us.

So let’s take a look at what we are planning for the next months.

Our primary objective is to achieve global scalability by expanding our multi-chain platform to reach every user. To achieve this, we are continually working towards adding more FIAT currencies and tokens to our platform.

We’re also opening up for anyone who wishes to become a maker on our platform.

On the other hand, we are constantly evolving the platform itself.

Currently, we are focusing on enhancing the trading experience by providing real-time updates on trade status through Telegram notifications. Additionally, we have been paying close attention to feedbacks from our community and there are several more adjustments that we plan to make, including: sort offers by price or reputation, the ability to set a fixed FIAT price, pre-selecting the FIAT currency based on the user’s location, and many more.

Another topic that it is very important to our vision of a decentralized platform is the reputation system. We strongly believe that a truly decentralize ecosystem must be trustless and that is why we have the whole protocol open source so you can follow the “Do not trust; verify” mantra that Bitcoin proposes. Improving our reputation model means that you do not have to know the person you are trading with and all traders in the platform have the incentives to act right upon their offers.

Looking ahead, there are numerous opportunities to explore:

  • Growing the $LOCAL token and delivering on its vision of the utility for governance and staking.
  • Continuing to provide solutions for individuals trapped in underdeveloped economies and governments. The market for remittances, for example, is immense.
  • Creating a great mobile experience, because let’s face it, it’s unbelievable that we still rely so heavily on our “desktop” browser for crypto.

And that’s it for now, thanks for reading 😉

Share your thoughts, what do you want to see in the future for Local?

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