Coinvestors! Here are a few quick updates on Coin and HODLVERSE.
Coin
- Coin Wallet is currently offline due to a service closure. Service costs to keep the Wallet online bear a large cost because of the integration of multiple APIs and services that are required for the DApp to function. In observance of current app usage (which is very low) versus the cost of infrastructure services to support the DApp, we will be temporarily keeping it offline until we have further funding to support these costs. As Coin Wallet is non-custodial, your funds are safe on the blockchain and still accessible using your seed phrase on other popular crypto wallets such as Metamask, MyEtherWallet, etc.
- The Coin staking program will continue and we will be providing instructions on how you can manage staking requests by interacting directly with the Coin staking smart contract. Coin Wallet is a graphic interface that is an easier gateway into the smart contract but is not required for the program to function.
- The staking reserve has been refilled for the month. We will continue this activity on a monthly basis
- Based on feedback from two investors, one launchpad, and several community members, we have been advised to:
- Close the Coin Telegram chats to minimize any negative sentiment that could impact the future of HODLVERSE and Coin itself
- Start building the HODLVERSE community to demonstrate the ability to gain traction and generate interest in current market conditions.
Next Steps
- We will be cleaning up existing Coin assets. Conversations in Telegram can often be disruptive and unproductive which impacts community morale and investor interest. We are moving the conversations into the Coin channel in the HODLVERSE Discord. We want to foster and cultivate positive experiences in the community and will be taking a firmer stance on any FUD. The Coin Telegram announcements channel will remain open. We encourage you to join the HODLVERSE Discord or follow the Coin Telegram announcements to stay on top of the latest company news.
- We will be announcing community and marketing initiatives for HODLVERSE soon. This includes, but is not limited to, becoming citizens of the network and receiving free mints for land plots and decorative NFTs (unique interior and exterior NFTs to help you decorate the inside of your user home and overall city). Stay tuned for more information.
- Coin and HODLVERSE’s focus will remain focused on several core tenets including:
- Cross-chain
- Multi-chain
- Interoperability for tokens and metaverses
We ask for all of your support to work together and give ourselves a fighting chance. If we want to win, we need everyone’s help in the community to aid each other or we’ll fail. We understand that many of you may not be interested in riding alongside us in a long-term relationship together… but please give us all the opportunity to try and win in the short term. From there, allow our team to prove ourselves to you again and build a long trusted relationship over time. But if we give up on each other now, we are all dead in the water. We are very optimistic that with the new engineering and operations team, we can improve our delivery. We are very excited to launch the network and allow the community to begin utilizing it.
We sympathize with those impacted by the events in the market this year. From 3AC, Terra, Voyager, FTX, and more. Due to bad actors, 2022 has been a terrible year for the industry and blockchain enthusiasts all over the world. In light of what has recently occurred in the market, please be very cautious about keeping your funds on any centralized exchanges and lending companies at this time. Remember, not your keys, not your coins. Stay safe and good luck!
