Dear community, Amongst many factors, Covid19 and the War in | Flooz Inc ANNOUNCEMENTS (Official)

Dear community,

Amongst many factors, Covid19 and the War in Europe have pushed the economy into a downward spiral causing inflation (not peaked yet) and panic sells on the markets. These conditions have forced many businesses such as Coinbase and Robinhood to lay off staff and cut cost. Unfortunately, we are also affected by this. Thus, we have spent the last days planning the necessary changes we have to undergo to remain efficient as a team, but also profitable as an organisation.

The TL;DR: We are removing any distractions from our core business, cutting costs where necessary, automating a lot of processes internally, and most importantly doubling down on our core products: Flooz.Trade, the Flooz Wallet and Gen-F.

Laser-focus: Our entire focus is on the development of our core business. That said, we will pause any distracting initiatives, including the “Portals”. All of our resources are focused on building out the wallet, Flooz.Trade and pursuing the roadmap for Gen-F.

Efficiency and profitability: When it comes to business, we are old school. We like building profitable business that create enough value to cover our costs and fuel our growth. Our current revenue mainly comes from trading volume (swaps, on ramps), token partnerships, and Gen-F royalties. Thus, we are doubling down on driving revenues while running the business as efficient as possible. To do so, we are stopping hiring until further notice, increase efficiencies through process automation of recurring tasks, and develop the skill-sets of our team to become stronger and take on more responsibilities.

DAO: We have made tremendous progress received the official classification as a Utility Token by the FINMA (financial regulator in Switzerland), as well as the final rulings from a tax perspective. This paved the way for us to set up the legal entity in Switzerland. However, due to the current market situation, we decided to move the launch date of the DAO and thus the migration of SYA to Flooz. We cannot influence the current unstable and unpredictable macroeconomic situation, thus we are pushing the migration until the markets stabilise. We are not waiting for another bull run, we just need it to stabilise. We will keep you posted on this.

It’s annoying to say the least, but we believe that this market correction is a necessary one to re-calibrate the entire economy and bring back strong fundamentals: exceptional teams building exceptional products with a clear business model and value to its users. We are one of those teams and community that will come out of this bear market stronger than before.

Without you, this amazing community, we wouldn’t be where we are today. We have an obligation towards you to deliver exceptional products and value and we are committed to fulfilling our obligation. Together, we are unstoppable. Together, we will achieve greatness, no matter the market condition. Thank you for being with us and believing in this team

Fabian and the Flooz Team
PS: I will be available in the discord main-chat to answer your questions for a while!