Code Monkey
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Refract Investor Update September


Hey everyone!

It feels wild that only a month has passed. So much has been going on! Let's dig in.

Here are our KPIs:


  • Weekly Active 3370 (+204% m/m)
  • 7 day retention - 77.93%
  • Costs: ~$2000 monthly

What do we need help with

  • Introductions to Wallets: This is our primary focus, warm intros would be greatly appreciated.

Since Last Time

  • Launched 5+ new security features.
  • Running all simulations on our own infrastructure
  • Launched a free coverage program to early adopters. Covers up to $250 of lost assets! 1000 people have claimed this.

The Good News

  • People enjoy the product and we're protecting people from scams!
    • Messaged 1000 of our followers from twitter. From the 121 responses who used the product, 57% of them would be very disappointed if the extension disappeared and 33% would be slightly disappointed.
    • Receiving feedback and tweets that we've saved people from scams!
  • New Infrastructure is stable and ready to scale
    • Our extrapolated costs for the simulation service we were using would have exceeded $10 000. We can now do it at a fraction of the price.
    • We have proven with our new architecture we can simulate every single Ethereum transaction.

The Not So Good News

  • Figuring out monetization
    • The mission is to keep as many people safe as possible. We really want to avoid charging people for security. We're still exploring different mechanisms to monetize.

Goals for September

  • Start having revenue
  • Decide whether to focus on the extension or the API
    • Currently we're working on the simulation API offering in tandem with developing the extension. By the end of the month we'll have one path we're focusing on.

Something Fun

This is my pair programmer. He has been keeping me company :).


Something Learnt

  • We have some customers who really love our stuff and are sharing it with their friends!

Onwards to another great month!

Kind regards, Justin Phu