5/31 YGGDRASH Update
Greetings from YGGDRASH Team to all of our supporters out there! We understand that you have been longing for this announcement, and before proceeding with YGGDRASH’s announcement, YGGDRASH Team would like to thank you all for the support and patience you have given to YGGDRASH project. And here are few of the items that you have been waiting for.
1. Exchange Listing & Token Unlock
The Token Unlock is rescheduled from the end of May to ‘before the first listing on an exchange’.
The reasons for Token Unlock timeline change are as follows:
1) When the token is unlocked, any exchanges may Iist YEED token on their platform.
2) It was determined that a safer market is more appropriate to unlock than the current unstable market situation.
Once the token is unlocked, any exchanges would be able to list YEED token. In such case, it will become difficult for us to control all situation, and even more difficult to predict potential risks derived from it. For YEED to be listed on an exchange is such a grateful opportunity, since it would mean that YGGDRASH project is being acknowledged. However, if YEED token is listed on an exchange that had not established a healthy ecosystem, we thought that the damage will affect our YGGDRASH supporters for the most.
For example, unexpected situations such as exchange system errors, deposit/withdrawal delays, LP, Market Maker appearances, etc. may occur from being listed on unspecific exchanges. YGGDRASH Team strongly believes that these situations will ultimately lower the overall value of YGGDRASH project. Furthermore, the team does not want the occurred issues to relay on to our dear supporters who have been with us from the very beginning. It is also recognized that many of you in the community also would not want the token to be listed in an exchange with such problems.
Moreover, the current unstable situation in the cryptocurrency market had a big influence on our decision making and delay in the announcement; the value of YGGDRASH must not be devaluated due to the current market trend. The team also acknowledges the fact that the wait on this unstable market to improve has been quite tiresome. Therefore, all members of YGGDRASH are working diligently to establish the best outcomes as possible. A grand task such as getting listed on an exchange is a crucial step to prepare the future which will be revolutionized through YGGDRASH. So, please, kindly understand that the team has no other choice but to be careful to prevent risks that may be caused by a moment’s wrong decision. Not for long, but YGGDRASH Team needs little more time to find the right timing to execute. One thing that the team can promise is that it will not be long.
Once again, YGGDRASH Team sincerely apologizes for the change in the schedule, and ask for your strong support to create a powerful and clean community for YGGDRASH project to get listed on the exchanges that everyone is longing for. YGGDRASH Team will do the best to not let you down, if you can give us little more support to achieve our goal.
2. Refund Tokens
The refund is being processed for those who did not pass KYC/AML. The volume of refund accounts is at about 4% of the total participants, and the refund tokens will be partially utilized for marketing while the rest will be burned for good.
The percentage on the burned tokens cannot be determined until the completion of the refund process to acquire exact statistics. A detailed announcement on the burned tokens will be posted including the actual figures in the future.
3. Updates on YGGDRASH Team
YGGDRASH Team is growing with five new developers who joined in May. The team is consistently recruiting members for other departments as well, and expected to grow up to 30 employees by the end of July. Also, the team has been constantly contacting influencers in search to find advisors who can really support us hands-on, and not just for the additional experience.
4. Conclusion
YGGDRASH is not a simple coin project. Our project was started to construct a healthy blockchain ecosystem, but it is like walking on a thin ice until we reach the goal. It is not the easiest to reform what was not right to become rational and acceptable, but YGGDRASH Team works proudly believing in the future which YGGDRASH project will contribute for the world.
Akashic Foundation will be operated under a clean management without the slightest error. The foundation will not let even a dollar to be spent wrong, and any cause of potential risk will not be tolerated. The upcoming 1~2 months are critical for the team. YGGDRASH Team understands that this project cannot move forward without the support of our fellow supporters/community – this announcement became a lot longer than planned in hope to plead to the community. If you could continuously support us with your trust, YGGDRASH Team will do the best to not let your trust down.
Again, we sincerely apologize for the change in Token Unlock schedule, and thank all 15,000 community members who bore with the announcement. YGGDRASH cannot take another step without the community. YGGDRASH Team will strive harder to keep communication with the community, and progress together. The team will imprint all the thankfulness from the continuous support from you, and never forget. YGGDRASH needs you.
Sincerely,
YGGDRASH Team
