2021-09-01 02:45:08
Hello ShibaNovians,
Wow, what a difference a few days make! We finally caught some wind in our sails and it’s fun to see our momentum ever growing!
Since our last update, we have not let up in our work behind the scenes. Some of the updates:
1. In the final stages of partnership with one of the Top 10 DeFi projects on BSC.
2. In deep discussions with 2 Top 40 CEXs (combined 24hr volume over $1B) and depending on how successful our CoinTiger launch is, we’d be able to move forward with at least 1 more CEX listing in September!
A lot more deals are happening in the pipeline but what has become abundantly clear is that in order to make these big things happen, we need to continue to have a robust marketing budget.
Now we are at a crucial stage of our development and every penny matters. Based on emissions of 0.4 NOVAs per block, our marketing and development wallet now receives 2,395 NOVAs per week. This severely limits our ability to grow the project the way it deserves. We have come to the difficult decision to change the sNOVA Lottery. Giving away $2,000 worth of NOVAs each week for the sNOVA Lottery is simply unsustainable. Our Team has decided to scale down the lottery to 1 draw per week with 4 winners splitting a total of 200 NOVAs. Once our TVL is where we want it to be (ideally north of $20M) and our NOVAs value is higher, we can revisit bringing it back to its previous version.
While this is a small adjustment, please know we do not take this decision lightly. But with every new day, we hope that our long term strategy is becoming clearer.
In order to build our NovaDEX, we need to secure as many meaningful partnerships and we need to continue to attract liquidity. We are all doing this organically and without any institutional or VC support but even without these, we are building it!
All of this is only possible because we do believe 'apes together strong'
As always, please let us know your questions!
Much Love from Team ShibaNova
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