January Update/Discussion

General Discussion
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Hello all,

It has been a while since an update, and it felt a bit overwhelming to try and update on everything that’s been happening. So rather than one “big update” I thought I would break it down into sections and revise it through this week, and also make it more of a discussion.

But first…some “General Thoughts”:
2022 was a very challenging year for digital assets, we were not immune. I think many expected a “bear market” to emerge based on the cyclical nature of the space and macro-events, but few could have foreseen how bad it really could get. From Luna to 3 Arrows Capital to Voyager and Celsius, to the multitude of hacks, and topping it off the fraud/collapse of FTX, it has been a bad year for digital assets (especially CeFi). The growing pains and barriers to adoption are real, and they are significant. This space has truly earned its moniker of “The Wild West”. Bad actors seem to be ubiquitous, and we are just now finally seeing criminal action against a very small number of them.

That being said, I think we saw some positives this year. The Ethereum merge was very successful, and we are now a part of that ecosystem, permanently. Solid DeFi protocols functioned exactly as designed during contagion. The fact that regulation is very likely to occur this year means digital assets are here to stay. Institutions and big brands in Web 3 are to be here to stay. We didn’t “go to zero”, or anywhere near it! I believe there’s a lot to be optimistic for, and that as we prepare for the next cycle we can take the many lessons learned and be well positioned for success.

Happy to expand on any of this/take questions, and here’s what I’ll be detailing out…

Discussion Topics:

1. Token/DAO:
	○ Migration
	○ Staking
	○ Finances
	○ Engagement


2. Bamboo Asset Management:
	○ Updated strategy
	○ App
	○ Website
	○ VersaPay
	○ Team

3. What are we looking for/what do we likely see in 2023?

	○ Macro stabilization
	○ Regulatory direction
	○ Continued maturation of ETH and L2
	○ Expanded Web3 use cases

What other topics would you like discussion on?

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Should cover most topics I think people are wondering about! Excited for the updates

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Hi I have been absent on most of what’s going on. But I have my bamboo coins on trust wallet as Bep20. But when I try to buy more or swap on pancake swap it doesn’t let as if the coin has no value. Any explanation on why this might be happening? Thanks for the great work you’re doing and hope for a reply!

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Just add custom token Bamboo ERC20 token to your Trust Wallet. Your BSC Bamboo tokens should have been migrated automatically by air drop by the team. Make sure you choose the Etherium network when adding token. This should be the contract. 0x2F0D6619803a4E12737E473293a301dE2FD1aAfB

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Thank you for the update Adam. Great the team keeps on moving forward. Keep it up

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Thanks for the help really appreciate it

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How its going with the plans for the HEX?

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Is there a new app we can download now that pinkpanda app is not working?

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Can you reach out to operations@pinkpanda.io and we can take a look?

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  1. Token/DAO:

○ Migration
As most are aware, the migration to Ethereum is completed. There’s been a few cases of folks who missed migration and we’re handling them as the come. We’re now working on getting coin gecko listing and coin market cap listing, as well as getting all the social media updated, BSCScan & Etherscan.io cleaned up, etc.

○ Staking
We are going to enable staking here shortly, this is a topic for discussion for the DAO as to rates for “OG” holders vs new holders, and the period the bonus will be available.

○ Finances
The DAO treasury has approximately $12,000 in stable coin, 10 BNB and about 1 ETH
We owe approximately $800 on staking completion. This forum is $100/month.

○ Engagement
So we’ve seen a fair amount of turnover in recent months. While crypto and digital assets by its nature I believe attracts short-term speculators, we also had a series of “black swan” events in 2022 culminating in the FTX debacle. DAO engagement is low industry wide, but I think that’s more an issue of adoption vs speculation, as well as tools need to develop.

We’re happy the website it out now, and we’ll be updating/consolidating our social media accounts and we are looking at producing a newsletter here in the near future. We’d like to hear your ideas on engagement as well, including how the treasury can be used to support further engagement.

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Pretty good write up on DAO engagement:

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Good information in this. Eight second attention span is pretty sad, but I believe it.

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Thanks for the update.

Looking forward to the future

Would you be able to share what the plan is to increase liquidity as it seems there is a negative cashflow for the organization at the moment.

Nevertheless, I am positive for the long run, just curious to hear more.

Keep it up!

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I didnt think of this before but i feel it would be a good to add a educational section on the app or website to help new user of crypto to not feel lost in it all (buying/selling, swaping,staking, ect. ) if this is in the plans and has been discussed im sorry for being redundant. I just feel making people aware and comfortable will make them more willing to use Bam and its products which may lead them to recommend it to others.

Thank you.

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Will write this update tomorrow! Hope everyone is having a great weekend. Edit: Day got away from me, mostly written should have it wrapped up tomorrow…

  1. Bamboo Asset Management:
    ○ Updated strategy

I thought this was a good thread on Twitter that is a pretty good reflection on digital assets:
Twitter Link

We started because of the technology, and will continue because of technology - regardless of volatility. That being said - digital assets are sentiment & interest rate driven, and being a startup is driven by the similar factors. We were on a very good path prior to the FTX collapse - as we had several investors lined up and were completing the paperwork. FTX changed everything, but I’m confident what we are seeing with capital is transient.

We’ve seen this before, from the MTGox failure to the ICO craze, this is just the latest in bad-actors causing problems for those of us who want to run an ethical business - not to mention building positions of trust and then stealing from users. To quote the thread: “The big win here is not in quick returns. It’s the opportunity to get in on the ground floor of the new internet. And to master the technology and tools that will radically alter the future.”

I think there are 2 key factors that need to shift before we see the next wave of adoption:

Regulation:
With the events of 2022 we absolutely believe will lead to regulation being passed in 2023 - probably starting with CDBC’s but then moving to broader digital asset regulation. While we’ve prepared for and complied with existing regulations to the best of our abilities, we’re optimistic with any new/clarified regulations the good will outweigh the bad. I really don’t believe we will ever see mass adoption until your average consumer feels much, much safer in the digital assets space, and regulation is critical to this.

Macro:
If you haven’t heard the saying “Macro is king” - well 2022 really proved that out. We are seeing some signs of inflation relenting, and we seem to have gotten used to all the “geo-political uncertainty”. There’s been a lot of layoffs in tech, it will remain to be seen if we see a recession, how deep and long it is. As someone who has been observing these cycles - well since bitcoin first came out - I’m confident we will see another cycle, and another…digital assets are here to stay.

I’ll leave this thread on the bear market for closing on strategy:
Twitter Link

○ App

The app has had the most impact recently from recent events, namely because the API’s for the app (BSCScan and CoinMarketCap) run about $800/month. With the migration to ETH we need to modify the app to function on ETH and don’t need BSCScan anymore, and we are looking for a replacement for CoinMarketCap. https://n.xyz/ has shown a lot of promise - not a big fan of CMC. Once we get the migration fixes worked out, we have a pretty good list of ideas that we would like to enhance the app with that we’ll open up for more discussion.

○ Website

We’re pretty happy with the website (if you haven’t had a chance take a look), but will keep tweaking it and adding content where it makes sense. I don’t have much to add to this!

○ VersaPay

On the VersaPay side, all the smart contracts have been developed and unit-tested and we are now doing final user testing. The UI looks great and we’re pretty excited about the capabilities of VP coupled with what we see as emerging from this market with a strong Metaverse presence with interoperability capabilities. Once we move to production, I’m going to see about doing either a recorded or live demonstration which will help people see how seamless the integration is.

○ Team

Unsurprisingly, we’ve had some team turnover as well as a general sense that people really need to make sure their basic needs/health/“day jobs” are taken care of. It seems pretty universal that the post 4 months have been tough on everyone, but I’m pleased with both our core and extended team and we’re working on some incentives for longer term alignment.

That’s it for now!

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Thanks for the update. It might be my missing english language, but i wish for a more detailed Roadmap in 2023 regarding the strategy.

What can we expect from the app?
What are the next steps?
Is there any plan for community management? Any plan to build up a community?
Will there be marketing? If yes, anything planned?
Do we need another migration, because of the missing coin picture?

Just looked at our homepage and it says that we are part of the team. Can we have regular monthly updates, please?
Thank you.

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When is staking going to be enabled? Was supposed to be around the hollidays originally? If we need to discuss rates of some kind, let’s get the ball rolling in the court so we can move forward. This has been the main reason for me (I’m sure others as well who won’t speak up in fear of getting scrutinized) to continue in and see where this project leads us. Thank you!

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When we post something on telegram we are all directed to this forum. When we post something on this forum there is no response for days. There is no getting answers from the team anywhere. No wonder this project is on a downward trend since the Sep 2021.

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