Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Official Update Note 25/05/2021
#1
Information 
The project has gone to a silent two months since our last update, mostly due to the disappointing results of our presale round and the lack of funding to cover development and other costs. Firm and loyal to the cause though, is Nova Bank, and last week we managed to strike a new deal for funding and stakes distribution to our bounty campaign, which will allow us to resume on development and keep moving the project forward for the months to come.
  • Bounty Campaign Distribution Update
Our Bounty Campaign Manager has gone offline, and no one has managed to get in contact with him to get the final bounty spreadsheet updated and the stakes spreadsheet worked out. Unfortunately this was a situation completely outside of our control, and being a reputable bounty manager on Bitcointalk and having managed several different campaigns, we never anticipated that this could happen, but that is the sad reality of working on an exclusively remote and online basis - people can simply vanish. Fortunately though, the job was almost finished when he went offline, and aside from the articles campaign, we believe that all other campaigns are up to date, and that will allow us to take up where he left and distribute the stakes. A few remarks to the distribution process to all bounty participants:

  1. Our initial distribution starting date target was the 26/05/2021, and that hasn't changed.
  2. Due to the lack of funding, we won't be distributing the stakes directly to the participants' ERC-20 wallets, as we were expecting. Instead, we partnered with Nova Bank, which will handle the distribution through their platform.
  3. A Nova Bank account will be opened to each participant, which will receive a direct message from our team on Telegram with their account number and password to access their account once their stakes are successfully processed.
  4. No KYC will be required, though we encourage users to submit their KYC form in order to use their account on its full extent.
  5. The process will be completely manual, and each account will have to be processed individually, which means that the distribution process might take several weeks to be completed, and unfortunately there is nothing we can do to make it any different, as we are working with the resources we currently have. No participants will be prioritized and any harassment to have one's stakes distributed towards our team will result in permanent ban of the bounty campaign and seize of all the stakes from the given user.
  6. Users will be subject to Nova Bank's terms and policies, including processing fees, AML, and KYC policies. You can access such policies through their official website, and in case you do not agree with them, please communicate the team so we can exclude you from the stakes distribution and cancel your participation.
  7. The Bounty Campaign Telegram Group will be decommissioned and any questions relating to the bounty campaign will have to be submitted via email. Any bounty related posts on the Official Group will be deleted and persisting, the user will be permanently banned.
  8. We are still deciding how to proceed with the article campaign, but for now, these stakes won't be distributed.

Quick FAQ (Bounty Campaign)

1. Is your project listed on any centralized exchanges?
Not yet. We might be listing depending on funding in the next few months.

2. Will there liquidity be provided to DEXes at this stage?
No. Liquidity will only be provided on the launch of the platform, also dependent on funding.

3. Will I be able to withdraw my funds from my Nova Bank account?
We will allow withdraws to BSC at start, and in the months to come you might be able to withdraw to your ERC-20 wallet, but this will be announced in our official forum when and if it happens.

4. Will I be able to exchange my tokens on DEXes?
We have no control over decentralized platforms, and the tokens are currently listed on Pancakeswap and Uniswap. Given the very strict liquidity, we will not guarantee exchange nor face-value against other tokens and coins (such as USDT, BTC, ETH, etc...).

5. My stakes are not in the spreadsheet, what should I do?
Unfortunately, if you're not there, there is nothing you can do. Because we have lost contact with our Bounty Manager, we can't be sure if you were written off because of cheating, non-compliance, or if it was just a mistake. Either way, we won't be able to rectify it.

6. I still haven't received my account number and password, what should I do?
Nothing. The distribution process will be manual and slow, so just wait, and if in the next months you still don't receive it, send us an email and we will investigate it further.

7. I have a question to ask, but my message was deleted on the Official Group and nobody answers me on the Bounty Group, what should I do?
As advised, from now on, any questions should be directed via email, as the Bounty Group will be decommissioned and the Official Group won't take any bounty related messages. Send your question and be patient, we will get back to you.
  • Project Progress Update
We are still rolling out of 'Phase Athena' and will be soon entering 'Phase Apollo'. Our multi-chain integration API is being worked on and we are already working on the application that will integrate it all. Developing has been slow given the lack of funding, but we are pushing on will keep on programming and developing to get the project to its completion. Key partnerships are still being fostered and Nova Bank has proven to be one of our key partners, supporting us all the way through.

The last few weeks have posed great pressure on the team, given the downward movement in the markets, resulting on financial losses to our already fragile reserves. But overall, we still have a goal and are very confident that we will be able to lead the project to its completion.
  • Governance
We are still looking for governors to take the project over once its decentralization takes place. If you're interested, please reach out and we will be happy to discuss it with you.
  • Grants Program
We are considering launching a Grants Program, where we would be allocating tokens to projects willing to develop on Swaap. If you want to participate, please reach out via email and we will be happy to discuss it further with you.
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)