After 117 raised mln usd market cap now only 13 mln usd? And there is were only big investors.. how price fallen so much? And where top exchanges with this raised amount?
Dear community,
I would like to take a moment and update you about the current status of the PumaPay project.
Last week, we were listed by two prominent exchanges: HitBTC and CoinBene. This happened exactly 3 months after the token had been minted and will provide the liquidity to merchants who choose to adopt the protocol, while enabling everyone who would like to transfer value through the PumaPay protocol, to easily purchase the token.
Unfortunately, as we all know, the time of the listing was not the best given the current terrible situation in the crypto markets. Together with you we hope the markets will recover and the price of PMA will improve as the token is part of the PumaPay ecosystem.
With regards to development, we are on track with our Roadmap. We are now in development of the Version 2 of the PumaPay solution, which is the proof of concept of our technology, allowing anyone to charge through the PullContract and enabling recurring payments on the Ethereum network.
The process is also going well in terms of business development as we are about to announce some major partnerships with companies who have committed to adopt the PullPayment protocol once we finish the development.
Recently, we have received multiple questions why we aren’t participating in the market to influence the token price, be it directly or through market makers. We are aware that such actions are a common practice for many cryptocurrencies. First of all, we would like to point out that such actions do not seem to have helped many coins that resorted to them, given their current results and long-term potential.
Secondly, we would like to reiterate what has been said multiple times before: the price of the PMA token will depend on supply and demand in the market. This position is fully consistent with the token’s clarification as a utility token. Please note that we have consulted with our legal advisers on this matter.
PumaPay is here for the long-run. Our actions are based on what is good for the project. The project itself has not really started yet: the token has been trading for less than a week, and completion of the Version 3, which will make the solution operational, is scheduled for the end of Q1 2019.
I hope this message has addressed the main issues you may have. We truly hope for your support as community, early adopters and contributors and promise to do everything in our power to make PumaPay a successful project.
-Yoav Dror, CEO PumaPay
