Hey everyone, here is an update on TGEs for tokens. At a high | Devvio Announcements

Hey everyone, here is an update on TGEs for tokens. At a high level I'm not able to talk about specific tokens, so this is an overall summary not specific to a specific token.

Overall, delays in moving towards a TGE were initially largely due to delays putting together relationships with CEXs. When we first started talking to CEXs last August, it seemed like a straightforward process to get listed. One exchange in particular laid everything out, and I thought it would be simple to list. As the markets continued to grow in excitement towards the end of 2021, I think it became much more competitive to list. I had two sets of advisors who told me that they had listed a number of coins with the exchange we were talking to, and they could no longer reach them. I've had a number of other advisors confirm that it is much harder to list with them now. We therefore went searching for other exchanges. We had a good conversation with FTX for example, but they rarely list layer 1 tokens. They were impressed with our team and technology, but didn't want to move forward given we were a layer 1. We have targeted some of the other top exchanges, and have some leads into them, but the big exchanges are generally difficult to reach, particularly in a busy and crowded time. We did not want to move ahead with smaller exchanges. I feel, and many of my advisors feel, that it doesn't really add much value. We've had discussions with some of the other mid-tier exchanges as well, and conversations there have generally been positive.

Another area of delay, without going into specifics (that I'm not really able to discuss fully), is in legal requirements. This has also been more complex than I originally expected, despite talking to our lawyers mid last year. Given that we are a US company, we have more complexity than many other projects. We had a market maker that we got hung up with, on some of their legal requirements. We had one mid-level exchange who we even worked through a contract with, but WE needed some additional constraints on their sales to not run into future potential troubles. We are currently talking to several other legal groups for further analysis. We may make adjustments to some governance on various tokens, as one area of potential adjustment to minimize risk. Overall, this is a complex area, and I would be doing a disservice to everyone to take this side of things lightly. I think too many projects take this area too lightly, whether US based or not, and there is a graveyard of projects over time as a result. I don't see any issues we cannot overcome, but we have to proceed judiciously.