We wanted to share an update with you all on how our team views its responsibilities to various groups of stakeholders, including the allocation of resources toward USDR remediation and our future vision.
The Tangible team consists of nearly 20 people, including product designers, smart contract architects, front-end and back-end devs, real estate experts, risk analysts, compliance, legal, ops, design, community and marketing.
There is nothing more important to Tangible than its community. All necessary resources are being allocated to USDR remediation and Baskets development. We appreciate your patience and trust as this is a process that needs time for us to do the work to complete. The number one priority for our organization is returning $1.00 back to USDR holders
When USDR depegged, it wasn’t just a massive loss of value to our stablecoin holders, TNGBL investors also saw a substantial loss of value. While USDR recompensation is our main focus, we’re also committed to restoring value to TNGBL holders, who have supported us over the last 18 months.
As such, a small portion of our team is making great progress on additional new products and infrastructure. We must continue the product development necessary to position us and our investors favorably for the next cycle. In combination with USDR repayments, we hope to resume the exponential protocol growth TNGBL investors had become accustomed to.
As we’ve said in the past, a USDR resolution deemed positive by the majority of users is arguably the most critical piece in the future of Tangible and remains our #1 focus. But we also need to be prepared for what’s next as soon as that’s complete.
We thank our community for their continued support and trust in our ability to make the right decisions about buybacks, exiting existing real estate deals and the best approach to property liquidations, ensuring optimal outcomes for our community and investors.
We remain focused on fulfilling our commitment to USDR holders and won’t detail new products until this is achieved. We hope our community, a blend of long-time supporters, new contributors and hopefully a few new fans will stick around to see what’s next.
In the meantime, we’re planning a Discord AMA in early December to help answer any immediate questions from the community. Thank you again for your continued support and faith in our team.
