Much like the last update, I want to level set on where we are at with a few things, as well as what I see as Bamboo Asset Management’s highest priorities are, and where I think the likely path is for the token is. I’ll follow the same format as the last time for consistency.
- The mobile app is now in public beta 1.0, in both app stores, seems to be very low bugs and functioning well. I can’t emphasize how large of an accomplishment this is - we have the foundational basis of a fully functioning digital assets platform that is very well coded and highly performant, and is just SLICK.
- We’ve discussed a number of future updates, but high on the priority list is being able to filter and search tokens.
- It is looking like a migration to ETH as our primary chain, with a wrapped BSC token, is the right direction, so we are preparing for code changes needed for the mobile app.
- We’re talking to an indexing company that could help tremendously with our challenges with Coinmarket cap API and other issues around being able to provide
- Final design has been completed, there are a few tweaks that will be needed here and there - but design is done.
- We changed out the development team as I wasn’t happy with the rate of progress, so I’m happy to say that development is moving VERY quickly now (we switched to the VersaPay dev team).
*Expect to see this before the end of the month. Yes - a date-based prediction. Giving a little wen
- Staking development is completed, however, we think it is best to deploy staking after we complete the token migration for a number of reasons. I know everyone is eager to see this happen, and we’re looking at some ways to truly appreciate and reward the patient holders.
Token Migration - 2.0
- I believe we are very close to being ready to correct the final token/ticker issue, have a DAO vote on ETH migration, and assuming a positive vote we can begin that work. I’d like to see this accomplished before Christmas - and I think we can make that happen.
- This move to ETH will be very seamless for the end user as we do not have all the challenges we had with the renounced contract
- Unfortunately, the resource (KungFoPo) that did our original token development has decided to not respond to any queries, so we have turned this over to our legal team for review as we feel the contract has been breached and caused BAM, as well as the community, harm. We’re incredibly disappointed with this response, especially given the previous level of experience and professionalism with this resource, and that he was a personal referral. We will keep the community informed once we reach a resolution on this matter.
- The path to getting our pre-seed round filled has been an uphill walk, but I believe we are getting close. Capital drives everything in business, and we believe the worst of our capital challenges are over as more cash flows in, we will be able to deliver value and results. This has been my number one focus and it is beginning to bear fruit.
- We have some more team changes but I want to get them all formalized before we do any announcements. All very positive movements.
I know we are in pretty intense times in digital assets - but I feel confident we are in a position to emerge from this with a strong foundation. My dedication to the community as well as the company has never been stronger, and our strategy is even more sound. Decentralized finance and digital assets are here to stay, regulation is coming, trusted companies are needed, Web 3 advisory services will be in demand, and we will continue to adapt our strategy and tactics in this fast-paced and volatile environment to ensure success.
As always, I welcome your questions and comments.
Survive - then Thrive!