2022-01-22 17:44:55
Hi everyone, hope you’re enjoying your weekend.
I’d just like to pass a quick message on from the Senior Management team, which should bring you all some reassurance whilst the markets appear to be in free fall.
As you know, on the 19th of January we took full control of the ULTGG liquidity pool from our friends at Digital Fever and the launch devs that helped us get the token off of the ground. This was great news for everyone associated with ULTGG.
Since then, we have made some proprietary decisions to help strengthen both the token and the wider businesses position.
Firstly, as some have you have identified, we created an arbitrary trading opportunity for those buying on PancakeSwap and selling on Bitmart.
We’re delighted to see that some of our astute community members have noted this, and have already made some nice profits.
In releasing some of our liquidity pool, in a 48 hour period, we saw ULTGG’s market cap increase by over $1m to $3.5m.
The market cap currently sits at around $2.8m. Had we not made this decision, we’d be around $1.2m.
The release also helped stimulate trading, meaning an increase in reflections for our holders and an increase in tax revenue for the business.
You’ll all be happy to learn that when we released some of the liquidity pool, we did so when BNB was priced at around $440.
The capital we released from the liquidity pool is now sitting secure and stable as BUSD.
With BNB currently at approximately $370, we’re vindicated in making this decision.
Furthermore, when market conditions dictate, we will buy back more ULTGG.
Hold tight guys, we have some big announcements coming your way which will further enhance ULTGG’s position.
We thank you all for your support.
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