HYSTEAKS
September 1, 2024
IN-HOUSELoading video...
Ethereum layer 2 Node Hosting platform for HYCHAIN Guardian Nodes powering over 50% of all active nodes in the ecosystem.
The problem
We saw an opportunity to build a platform for customers to better serve their needs than the existing options in the market. This included improved support and additional features such as in depth Node performance, monitoring, and additional airdrops. The main competition (the only other option) was a large VC funded company that had a significant number of negative customer reviews and complaints. We filled that gap providing a better platform with lower prices.
Traction
We were able to grow to over 100 customers in a short period of time powering over 50% of all active nodes in the ecosystem at peak. This was a testament to the quality of the platform and the support we provided to our customers. The testimonials from customers were overwhelmingly positive even through the initial launch using Stripe for payments before transitioning to our in-house payment processor ProductMint.
What went well
The platform was able to handle the load of the growing number of customers and nodes. We never faced any real issues that were within our control. The blockchain itself did encounter some downtime but our fault tolerant design automatically recovered once the chain was back online. The payment processor transition also went smoothly and we were able to support our customers with 99.9% uptime.
What could be improved
We could have done a better job at simplifying the onboarding process for customers especially for those that were not heavily involved with the HYCHAIN blockchain and the Node Hosting process. The few minor issues we did face were solely due to not clearly outlining required actions for customers that were not knowledgeable with the project or Web3 in general.
The downfall
The downfall of the project was completely out of our control when the HYCHAIN blockchain was sunset by the HYCHAIN Foundation. This was a major blow to the project and we were forced to shut down the platform. However, all customers understood that we could not control the situation and were understanding, which was great. We had a fantastic run for nearly a year before the shutdown.