About Sharpay’s policy of informational openness, market stagnation, buyback program and future changes
We are one of those projects that communicate with their community as openly as possible, share their results, successes, plans and do not hide mistakes and negative results. Better, we ourselves will tell you firsthand how we are doing, so that there is no silence or conjectures, or even worse, you will listen to all sorts of haters. Therefore, we want to share with you some observations about the blockchain market in general and our results for the past period, in particular. Honesty is the best policy.
According to the results of the 4th quarter of 2018 and the 1st quarter of 2019, we can state that on the world market the breakthrough in popularization of cryptocurrency and blockchain projects has not yet begun. But it’s good that over the past 2 months it has become clear that the market has finally felt the bottom. And our S token groped the bottom too. The stagnation of the market for Sharpay means disrupting the plan for installing buttons on sites and lack of profit. Partly, we are also to blame for this, because (maybe, like you) we were very encouraged by the growth of the market a year ago and did not take care of our development plan in the most negative scenario. Therefore, for example, our tokens buyback program for Token Sale’s participants is not yet active and is postponed for an indefinite period (we will announce the launch of this program upon receiving the first profit).
In Asia, there is such a proverb “The dogs bark, but the caravan goes on”. That is why we never listen to haters. They do not understand that the ETH we raised in Token Sale depreciated along with the market 10–15 times. Yes, we never exchanged ETH to USD and didn’t cash out. Yes, we are blockchain and crypto evangelists. Yes, our real fund after spending on expensive Token Sale promotion, financing the team work, as well as the depreciation of the cryptocurrency market now is very very modest in size. At the same time, in one and a half years of Sharpay development since the start of financing the project from Token Sale’s fund, we managed not to waste all resources and are ready to develop our Sharpay product further and steadily.
Over the past year, the collapse of the market, the main thing for us was to keep our team and develop the product every day. Haters do not understand this, but do you? They do not understand that good projects do not artificially raise their token prices with the help of “market making” technology, moreover, in a falling market this is the Sisyphean task (those who did this and temporarily raised the price burned all resources and fell even lower after). Haters do not understand that the best exchanges, like Binance (on which we will be listed someday), do not charge for listing, but look only at the quality of the working product and the real daily work of the team. Haters do not understand this, but they constantly demand it, demand it and demand it. That is why we do not listen to haters. And we advise you not to.
We didn’t attract investment in Token Sale! It was written in all of our documents and White Paper. All S tokens sales were never an investment, but were the purchase of high-risk utility tokens of a high-tech project. We have no investors! But we have token holders. And we really appreciate your support and trust.
Yes, after Token Sale, our token fell. But, we repeat, the whole market fell! ETH fell 10–15 times a year and our S token also fell exactly 10–15 times. How could our S token grow if the market fell on it with a capitalization of tens of billions of USD? Do you understand the difference in capitalization? Even if we had burned all our fund to support the price of our token, this would be enough for us to do that for just 1 day only. For what??? Therefore, with horror on our faces, we were only silent observers of the falls of Olympus and prayed that the bottom would not be at zero. As a result, the S token has fallen in price in direct proportion to the fall in the market. This is a good signal of the expectations and faith of most of our token holders in our project.
Now the S token is traded on 3 exchanges: IDEX, SIMEX and OEX. Haters shout that they are exchanges with free listing. Nothing like this! Only listing on IDEX did not require any costs from us except the time for a joint audit of the closed GitHub code of our project with IDEX’s CEO. And for example, listing on OEX costed us about 12 BTC (at the rate) at the time of payment. By the way, the other day there was a unpleasant incident, when OEX mistakenly delisted our token. In reality, the CEO of OEX was changed, and the new management began to clean up the exchange. We contacted the new head of OEX, demonstrated our stability in development and the real work of our team, and after that, OEX immediately restored our token in the listing. In fact, it was a test of which projects are live and which are not. Yes, we are alive.
Here are what we are planning to do to increase the price of the S token.
1) Stably develop our product. We do it.
2) Introduce new features that will make our product more popular and increase the number of installations of our buttons on websites.
3) Launch large partnership programs with very well-known blockchain projects (and their tokens) and cool sites (from the regular market). While this is very difficult to do, as the market is depressed, but we are working to overcome resistance.
For example, we want to announce the readiness of a very important feature. Soon we will launch the opportunity for sites to reward for sharing not only S tokens, but also ETH and any other tokens! It is very cool. This feature has already been developed (like many other features), but we want to release it after a general UI / UX upgrade of our system.
As we have said many times, our S token is not for fast exchange speculation and not for quick profit. But after months or maybe years of your waiting (as is the case with BTC), we believe that you will get a good profit from owning S tokens. Now, using our fighting team spirit, we are doing everything we can to do this. Believe in us, wait and while the market is at the bottom, increase your S packs.
In Honesty We Trust!
Sharpay.io Team
