Bware Labs — July Update

In order to improve transparency and keep the community updated with our activity, we decided to start posting monthly updates on our Medium blog. These updates will contain the latest achievements, the current features under development, upcoming deliveries and other noteworthy news from the team.

The most important update for this month is regarding our listing/token generation event. After carefully cross-analyzing our development roadmap, the pace of execution and market conditions, we have decided to list the BWR token only after finishing the implementation of our staking and payment module, thus ensuring enhanced utility of our token at launch and increased trust in our company and its ability to deliver. We expect to proceed with the ICO / IDO in Q3 2021. Further details will be released at a suitable time.

Since our development and infrastructure costs can be covered from the private investment round for more than a year, and our Validators are also generating a sustainable revenue flow, we are comfortable with delaying the listing, at least from a financial point of view.

This does not mean we have been slacking off, the Bware Labs team has completed development on our cross-chain bridge and the claim functionality for token holders. This furthers our claim that, from a technical perspective, we are ready for the listing, however, we proactively decided to postpone that in order to protect the company in the long run.

The majority of the development capacity is focused for the next period of time on finalizing the payment module architecture and implementation. The availability of this feature will allow us to expand the current free offering, which is rate limited, and offer a range of subscription tiers to address all levels of needs, while maintaining the highest level of security and reliability.

The secondary objective is finalizing the low-level design for our staking and delegation mechanism that will allow for us to start the decentralization of the nodes. Leveraging this functionality, token holders will be able to delegate BWR tokens to third-party nodes and receive a portion of the rewards received for fulfilling API requests.

On the validators front, we are one of the first official Collators on Moonriver and their sister network Moonbeam (just Testnet), as can be seen on their website. Moonriver will also be added to our Decentralized API MVP, in the following weeks. Moreover, our Elrond validators were elected, so we started producing rewards for our delegators and we aim to remain one of those granting the biggest APRs. Not to mention the Polygon validator which is currently very popular among our delegators!

Very excited to share this progress with our growing community! More updates next month!

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