Dialogue with one of our community members about the cryptocurrency market crisis in 2018–2019 and Sharpay.io plans for migration to a new blockchain.
For more than 2 and a half years after the launch of Sharpay.io, we have been successfully developing our product despite the deep crisis of all cryptocurrencies, the collapse of all speculative expectations along with the prices of all coins and tokens. But we have a development plan. We have a roadmap. And one way or another, we are acting on this plan.
Nevertheless, the global cryptocurrency crisis is making adjustments to our plan. And we are forced to postpone some of our ideas in terms of time. So, in our roadmap there is a task on the migration of our project to a new blockchain in 2019. And one of our community members asked our team about this in a personal chat. We publish full correspondence with him so that you can understand everything exactly. Here is our answer (with a little clarification).
Andrey, [18 Dec 2019, 08:13:14]:
Hello! I cannot find token migration information. When will the swap take place and what are the instructions for the holders?
sharpay | admin, [18 Dec 2019 г., 08:35:10]:
Hello! Thanks for your question. You ask about the planned swap of tokens during the migration to our new blockchain, right?
Andrey, [18 Dec 2019, 09:02:59]:
So it is written in the roadmap on your website.
sharpay | admin, [18 Dec 2019, 09:03:24]:
Ok, thank you, in the near future we will publish news about this. In a nutshell, we will write about the following.
As you can see, the crypto market situation is still very bad and it is again looking for a new bottom. Many projects have long died. We have been surviving for more than 2 years. We will not risk now launching a new blockchain, because this will significantly increase our costs for the launch, maintenance and new listings. However, we only have a very limited budget. Also, we will have to delist our S token (ERC-20) from 2 exchanges on which we are currently trading. This will cause a panic of our token holders. Actions in a bad market, with a minimal budget, with a panic of users can lead us to collapse. Therefore, we are forced to save and not take risks. We will postpone the launch date of our new blockchain and swap of tokens.
Also, now nobody needs a blockchain for the sake of blockchain. We wrote a roadmap 2 and a half years ago, when the idea of launching a new blockchain was cool and that’s why coins flew to the moon. After 2 years, the situation has changed significantly. Now the economics and monetization of the project are important with large strategic partnerships, a large number of installations and users.
We are now focused only on survival and on the monetization of our project. And first of all, in the next few days we will announce a big release (a lot of features, including buttons for Telegrams) and the transfer of our project to a monetization model of development.
Andrey, [18 Dec 2019, 09:07:04]:
Thank you very much for the detailed answer.
sharpay | admin, [18 Dec 2019, 09:07:46]:
All this should finally help us take off and begin to successfully sell our product in the world. And after that we will launch the new blockchain and do swap of tokens ) Thanks )
Andrey, [18 Dec 2019, 09:09:13]:
I believe in the project 100%. Especially thanks to your patent (meant a patent application).
sharpay | admin, [18 Dec 2019, 09:10:37]:
We will do our best for success.
We are required to publicly disclose any changes to our promises. Be right and honest.
In Sharing We Trust!