OnigiriSwap: Status Update October 2020
At the inception of OnigiriSwap, the response that we have garnered throughout our tenure has been nothing short of mesmerizing. In a short span, we have witnessed $ONIGIRI reaching a price of $2.89 at a 24-hour trading volume exceeding 2 million USD. This has led us to be listed on Bilaxy, CoinGecko, CoinMarketCap and other DeFi tools— in fact, we were the trending token and one of the biggest gainers for a short period of time on CoinGecko.
However, after much deliberation, we have decided to not further the development of OnigiriSwap. This is due to the following reason stated below. I will detail some of the main reasons that brought us to this difficult decision.
The departure from the project is based on the following reasons:
1. The lack of funds to pursue the continuation of the project and its future iteration.
2. The feasibility of the protocol (ONIGIRIV2). While $CORE has seen its share of success we think being a clone of an existing protocol brings zero to no value to the community. Since our users are required to further stake their ETH to the Uniswap liquidity pool to participate in the Liquidity Migration Event (LME), and will not be able to remove it, this will further increase the risk for investors of the protocol
3. Reception towards the use of our token was used in ways the developers could not have otherwise anticipated. — Farmers dumping their crop prior to full implementation of $ONIGIRI initial plan
OnigiriSwap is an automated, decentralized set of smart contracts. It will continue functioning for as long as Ethereum exists. However, the front end interface to interact with the contracts will only be up until the 15th of November. We believe this would allocate enough time for investors to unstake their funds from the OnigiriSwap protocol if they so choose.
The developer funds will remain untouched.
address: 0x61a39af7f6e396d37dbda1818176dd5ac115ce35
We are open for discussions for anyone who would be interested in undertaking the responsibility of the protocol. However, we will only be passing the responsibility to those who we deem fit and qualified to undertake the stewardship of this protocol. Hence we will act as mediators during the duration of this transition. We will not let anyone jeopardize the future of the protocol through irresponsible actions. Upon transition of responsibility, the ownership of the admin keys, source code, domain name, and social media channels will be transferred.
On this final note, we would like to thank our fellow community members who have shown nothing but support and educating others about the benefits of $ONIGIRI compared to the other $SUSHI based products. We have thoroughly enjoyed the support displayed to us and it was a pleasure serving you guys. It was a tough decision for us, but we believe it is the best thing moving forward for us and our users.
Please message @chefonigiri in telegram or discord if you are interested. I will be answering your questions until the end of October 2020.
Till next time.
