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June 22, 2022, 10:52:16 PM |
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Dear #FiPiArmy 🐷
Firstly, I would like to thank all our community members for believing and supporting FiPi in these trying times.
As we all know, this is a difficult time for investors and companies in the crypto space, and FiPi is not left out.
A lot of our investors have been asking for some explanation of why the price of $FiPi is a bit down. We have carefully analyzed the situation and we have listed some reasons for the current price of the $FiPi.
First of all, it is a bear season in crypto and due to Bitcoin dominance, many altcoins are down and $FiPi is not left out of this.
Secondly, $FiPi liquidity pool is in BNB. Since the presale, the price of BNB has dropped from above $400 to less than $200. This has also caused the price drop of $FiPi.
Lastly, due to the current market condition and many uncertainties in the crypto industry, the fear index of investors has increased. This has led many investors to invest in coins like BTC/BNB/ETH as they are high cap coins with already established fundamentals and they believe it's safer than low-cap tokens like $FiPi.
In addition to the aforementioned reasons, some of our investors have claimed and sold their tokens (this is their right and it is expected). The current market condition has shown that vesting is very important as this initiative has sustained the price of the $FiPi, unlike many low cap tokens that have rug pulled since the beginning of the crypto winter.
We listed the above reasons to answer our investors' questions and at the same time, we are trying to be as transparent as possible because that is one of our core values.
By this time, most of you that have seen our roadmap already knows that some of our goals in the proposed time frame have not been met yet.
In terms of Certik audit, due to the current market condition, we are trying to maximize our budget in terms of priority. We are focusing on the development of the application and we are also saving funds for traditional global marketing when we launch the FiPi application. However we have been audited, but Certik audit is also on the way as we have planned.
In the case of the FiPi Application launch, we have to renegotiate the agreement with our software partner that is in charge of the development of the front end of our application. This new development was a result of the change in fees from the company which is quite understandable because of the high rate of inflation Poland is currently facing, instigated by the situation in Ukraine.
So as a result of this unexpected incident, we cannot confidently tell you the application will be ready in the second quarter of this year as planned. However, bear in mind that we are not making any excuses and working very hard on this project. The cost of hard work for this project has made us take a long streak of sleepless nights, missing our families, and spending too much time in the office instead of spending this summer with families and friends.
Last but not the least, we will also kick off another series of marketing on YouTube and other social media platform.
Moreover, please note that we as core team do not take any profit from this project and we believe the real cash for us and you will come once the FiPi application is launched and break into the mainstream with large global adoption.
Process takes time!
Cheers
CEO
Maciej
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