Spherium Listing Update: Our Ideology and Expectations
Dear Spherium Community,
We’d like to start this post by thanking our entire community for their support throughout the past couple of months. It is your support and faith in our team that keeps us going.
As a project, it is our responsibility to acknowledge your concerns and address them. There have been a lot of questions about the listing and token generation event of Spherium Finance. We’re here to address them, but we’d like to share our thought process before we do that.
Why did we postpone our listing?
When we started Spherium Finance, one of our primary goals was to make sure that each of our participants, let it be community members, investors, or partners, should be handsomely rewarded for their support and investments.
However, as the broader crypto markets witnessed a crash, deteriorating most of the gains registered over the past couple of months, we had to make a choice; whether we should list in a market where the top crypto assets are struggling to stabilise and let the token price plummet or preserve our investors’ funds by moving our listing ahead. And we chose the latter to make sure that your initial investments stay intact despite the bleeding markets.
We consulted with several crypto market experts, our investors, and partners before making this call and unanimously announced a new date in the hope of better market conditions. Our entire team worked day and night to build exposure for the project leading up to our consecutive listing dates. Unfortunately, the market condition remained precarious, forcing us to withdraw the our listing again.
We understand that you’re eagerly waiting for $SPHRI to list, but as a project, we cannot let our community suffer because of the bearish market conditions.
We’d like to share with you that Spherium Finance will consider the older prices registered at the time of your contributions to make sure that your capital is preserved. There will be no impact of the current lower crypto prices on your token allocations.
DAOMaker and Gate.io Investors
For all the investors who participated in DAOMaker IDO and Gate.io IEO, your contributions are securely held by these platforms. We’ll distribute $SPHRI tokens right after the TGE and listing update. The token claim and distribution process will remain the same and will be managed by our partners.
Focus on product development and testing
Our team is utilising this time by focusing all our resources on product development. We’re glad to inform you that HyperSwap, our cross-chain AMM-based token swap, is ready for release on the Testnet. We’ll invite our community to test HyperSwap and provide feedback for us to improve further.
Additionally, Spherium Finance is building new partnerships before its launch. We have a long-term vision to strengthen DeFi adoption and provide a platform that addresses the current gaps in the DeFi space. These partnerships will play a critical role in boosting the adoption of our products after the launch.
In the end, we’re a community-centric platform, and we hope that you’ll understand and extend your support to our project. If you have any questions, our representatives will be available to address them.
About Spherium Finance
The Spherium Finance platform offers a complete suite of financial services comprising a universal wallet, token swap platform, money markets, and inter-blockchain liquidity transfer. Our platform will function as a global financial service provider, extending fundamental financial services to the unbanked.
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