2024 in Review

Jan 14, 2025 · 4 min read · 33 views

Intro

2024 was a pivotal year for Picnic. It was the year that Picnic scaled from a scrappy MVP to a full-fledged product with over 10k users that manage their onchain funds via our interface.

It became clear that making onchain easy has a lot of value and that Picnic is uniquely positioned to deliver that value, as we are the early category leader.

Picnic launch

It is weird to look back and realize that it was only in January 2024 that we launched the Picnic Safe with ERC4337. And although our previous MVP provided a similar user experience on paper, it was much more convoluted and in consequence much harder for users to understand and trust.

Migrating to the correct architecture was not a clear decision, because we didn't see it immediately affecting topline metrics, but setting up the foundations correctly was one of our best decisions and it has been compounding ever since.

Partnership with Defiverso

We met Lucas in March and had an immediate bond. I admire him for his charisma, principles and sharp vision. He instantly understood what we were building and where were going.

Lucas and the Defiverso community were pivotal to bring awareness to Picnic as well as explain it to a much wider audience, bringing 10x growth over the course of a few weeks and changing the course of our trajectory.

Scaling pains

The sudden growth was amazing and gave us a huge boost, but suddendly a lot of technical debt became apparent. We spent April and May solving issues and establishing a customer success discipline, which was key for our continued growth.

Cross-chain Picnic

In June, once our daily operations were under control, we expanded Picnic into 9 different chains and thousand of assets. It was amazing to see that we solved a substantial amount of our users requests and has been growing in share every month since the launch.

Fundraising

Despite growing quite a lot and having a very promissing product in hand and in desperate need of resources so we could continue in our journey. Fundraising was extremely hard.

I spent a lot of time refining our pitch and connecting with different folks. This proved to be extremely challenging, but eventually we found amazing investors that grasped what we were building and that were excited about making ease of use unlocking much wider adoption for DeFi.

Europe launch

We went live in Europe in September, offering an IBAN to our European users via Monerium, which meant that could handle day to day finances and payments inside Picnic. I am particularly bullish on this, because it is an initial demo of what DeFi can become once it gets more mature.

Europe trip

In September, I went to Europe and was amazing to connect in person with folks from CV Labs, Safe and Gnosis (among many others). These individuals were extremely important for our journey and help establish the bridges that enabled us to continue building our vision.

Devcon

In November, I went to Asia for Devcon Bangkok and it was one of the most meaningful experiences of my life. I was able to speak in the main event and tell our story and how Picnic is making DeFi acessible.

It became clear that we are global leaders in our category, simple things like using stablecoins for on/off ramp are still non-consensus to the market. We have a window of opportunity and should accelerate to maximize what we can get out of it.

Looking ahead

I am extremely bullish on Picnic. I think we can grow 10x-100x over 2025. We need execute at a really high bar, but we have strong fundamentals (very strong product retention), the right partnerships in place, and an amazing team.

Wish you all an amazing 2025 and thanks for being with us on our journey 🫡