In connection with the current situation at the project, we would like to inform about about the decision of suspended of the project for the period of 3–6 months.
From the beginning, we focused on transparency, which is why we decided to inform you openly about this fact, we believe that it is unnecessary to convince you for the next months that work is underway, etc., we know that many projects do it even when they do not carry out work, but it is personally decision of each of the projects.
- Part of the funds held in the USTC.
Due to the prudence and the desire to maintain the high security of the project’s funds, the funds were kept in various stablecoins. However, our preventive approach did not save us from the problems related to the Luna ecosystem scandal and our project lost a large part of our budget due to problems related to this cryptocurrency.
2. The bear market in the cryptocurrency market.
The success of our platform was very much related to the situation on the cryptocurrency market. It is natural that when there is a very good situation on the market, most people earn money, make profits, the willingness to participate in fundraisers / the willingness to support those in need is much greater. In a situation where people lost their funds due to market declines, wrong financial decisions, lack of profit taking, participation in the fuss with the luna ecosystem or the Celsius ecosystem, the willingness to help decreases. Then people think more about themselves, about their finances, about ensuring a similar standard of living for their family.
Marketing in a bear market is completely pointless. In times of bear market, people are not interested in getting to know new projects, getting to know a new platform or applications. The situation is that people are afraid to buy Bitcoin and Ethereum, let alone other cryptocurrencies that do not yet have such a great reputation. We didn’t want to lose our marketing resources at the worst possible time. We think it’s better to get back up and running in better times.
4. Good time to the launch of the platform. The platform should be ready for the listing.
On our part, it was also a mistake that the platform was not prepared for the time of listing. Listing is the moment when the largest number of people are gathered around the project, it is simply the loudest. Unfortunately, for reasons related to the fear of the inexorably impending bear market, the listing was accelerated to the maximum. With the financial and human resources available at the time, we were not able to prepare the platform and test it in order to release the finished product on the day of listing.
5. The platform.
The platform has already been prepared and tests have been carried out with the participation of the community. From this point We would like to thank everyone who was involved in it.
The cross-chain from ERC-20 to BEP-20 has been fully prepared, everything is prepared, tested. The bridge was also prepared. When the platform will be launched, the entire cross-chain process will be automatically implemented.
At the moment, in order to reduce costs, we decided to reduce the costs in the team. When the market situation improves, cross-chain implementation and platform launch. As interest grows of the platform, we will restore functions in the project.
The project is not only the team, but also a community, so we would like to thank you for all your support, commitment and ask you for help when will come the time to launch the platform — to promote the platform together, encourage friends, show other creators the opportunities it will bring the platform.
All the funds remaining in the project will be allocated to the implementation of all business cooperations necessary to launch the platform and to ensure basic liquidity on the DEX on the BEP-20 network.
We leave our social media for your contact. We will try to answer your questions that were not answered in the above article.
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