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Ryder's Exciting Q1 2023 Progress Report: A Look Back on a Productive Quarter

Louise Ivan's photo
By Louise Ivan
5.3.23

Hey there, #Ryders! We're excited to share our Q1 2023 progress report with all of you. We've been working non-stop to achieve our mission of making Ryder the top hardware wallet for the web3 community. Let's dive into what we've accomplished so far!

🎉 Product Development Milestones

Our first quarter has been all about making significant strides in product development:

  • Collaborated with a top-tier product design firm to craft the perfect Ryder hardware wallet.

  • Optimized the initial Bill of Materials, keeping costs efficient.

  • Finalized product specs for both the Ryder hardware wallet and the Ryder Recovery Tag.

  • Narrowed down our design options for the Ryder Hardware wallet, now we are working on selecting the one that truly embodies our vision.

🔧 Engineering Breakthroughs

Our engineering team has been hard at work on various aspects of Ryder's offerings:

  • Developed a crypto applet for the Secure Enclave (SE) chip, enabling effortless wallet generation, transaction signing, and public key exports.

  • Built a JCOP simulator for seamless SE integration and desktop testing.

  • Began prototyping the Ryder Companion mobile app using the versatile Kotlin Multiplatform.

  • Validated our innovative concept of digital twin NFTs and ordered a small batch of NFC tags to kick off our pioneer projects.

🏭 Manufacturing Advancements

We've made substantial progress in manufacturing partnerships and cost estimations:

  • Partnered with a top-notch manufacturing company, receiving BOM and tooling cost estimates that perfectly align with our expectations.

  • Identified a potential Secure Element (SE) partner, contributing their electronics expertise, manufacturing capabilities, and a German SE.

  • Obtained BOM cost estimates from a wireless charger manufacturer for a couple of potential options.

🚀 Growth Strategies

We've focused on growth strategies during Q1 to ensure a successful product launch:

  • Conducted comprehensive E-commerce research and consulted experts from leading companies to develop guidelines for our upcoming E-commerce campaign.

  • Designed a compelling branding image and messaging strategy that highlights Ryder's unique qualities and resonates with our target audience.

  • Secured potential leads for our bridge round of funding, bringing us closer to establishing Ryder as the go-to hardware wallet for the web3 community.

⏭️ Challenges and Forward-Looking Initiatives

As we move into Q2 2023, we're prepared to address the challenges we've faced and concentrate on our forward-looking initiatives:

  • Finalizing our manufacturing partnerships.

  • Planning a trip to our manufacturing facilities.

  • Deciding on the best wireless charger options and obtaining a quote from our Manufacturing partner.

  • Hiring crucial team members, such as a UI/UX Designer and an E-commerce Lead.

We're incredibly proud of our achievements during Q1 2023, and we can't wait to continue our journey toward making Ryder the leading hardware wallet for the web3 community. Stay tuned for more exciting updates as we forge ahead in our mission!

Join the Ryder waiting list here!

Article written by Louise Ivan, Co-Founder

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