I agree. We believe in community first. We prioritized Stacks community thats why conducted the IDO exclusively on Stacks, no other chain or launchpad. If token was our only focus, we could have avoided IDO as Bybit was doing IEO for its 30m+ users already.
IDO price was kept at same price as the VC/Investors round. If community was not our priority, we could have raised another VC round at higher valuation, and conducted IDO at even higher valuation. We rejected VC money and conducted IDO for community at our Investor round valuation to make them part of our journey. Airdrop & IDO tokens are being transferred right now and team is working 24*7 to go live with pools soon.
We had Dex launch, IDO Launchpad launch, Bridge launch,
$VELAR token launch on both DEX and CEX together, all of this at the same time, apart from Perpdex testnet coming in ~2 weeks.
Stacks/Bitcoin has not seen so many products launch at this scale at the same time. This overwhelmed our infrastructure service providers as well and our infrastructure couldn't handle the load of the hundreds of thousands of users/requests coming together on IDO Launchpad, Dex and bridge at the same time (we need to bridge
$VELAR between ETH and Stacks to cater to IDO participants & Airdrop). We have setup much more scalable infrastructure now.
We could have executed better by spreading these 5 major launches across weeks/months but were too excited to show the community everything that we have built for them. Our intention with this is to accelerate entire Bitcoin DeFi timeline forward by months in matter of days, by shipping all these products and kickstarting Bitcoin DeFi with a new wave of liquidity. This will happen, but will not happen smoothly.
Our strategy for
$VELAR on a Global Top 2 CEX exchange is to bring more liquidity to DeFi by giving better access of our token to millions of potential DeFi users from multiple ecosystems, which can be bridged to Bitcoin. The community will see its effect in coming months.
We are dedicated towards our mission to build user facing DeFi infrastructure on Bitcoin and flip Ethereum DeFi within next 24 months. User experience will only improve with time as we learn, future product launches will go more smoothly as we learn.
@VelarBTC 🟧
My mail to
@VelarBTC:
Always prioritize your decentralized community
Don't f*ck with CEX closed and centralized community. They're unreliable and bullsh*t I tell you
Take that sh*t from
@JupiterExchange. They respected their community using their product.
We move on.
$VELAR 🚀