Dear Bamboo Community,
We hope this message finds you well. We would like to take this opportunity to address some key topics and updates regarding Bamboo ($BAM) and its future in the Web 3 market. As a community that has shown unwavering support, we value your involvement and want to inform you about our plans moving forward.
1. Capital Market Pivoting and Team:
The current state of the crypto- and capital market, has presented numerous challenges, with funding opportunities declining significantly - for example, VC funding in 2022 was over 22 billion, and YTD funding is 500m - a 96% decrease. The recent regulatory pressures, and major indictments (FTX, etc.) have further added to the complexities of the situation. As a result, we find ourselves facing tough decisions to ensure the long-term sustainability of Bamboo ($BAM) and its vision. Given these unprecedented conditions, we have made the strategic decision to pivot the company (Pink Panda Holdings, Inc.) toward new opportunities.
To address the need for deeper engagement and communication for the Bamboo DAO and token, we have taken a crucial step by bringing Ian Stiglingh on board as a compensated community manager. Ian is known for his extensive experience in the investments and NFT space, but his expertise extends beyond that to the broader Web 3 landscape. This addition to our team will help us navigate through these challenging times with a stronger focus on community-driven initiatives and enhanced transparency. This will be a “trial run” - if we are to succeed long term, we need the DAO engaged and part of the decision-making process, and fully supportive of these decisions being made in a more decentralized manner.
2. Decentralization of the Token:
We understand the importance of decentralization in the growth and sustainability of the Bamboo ecosystem. We are wholeheartedly committed to accelerating the decentralization process of the Bamboo token, and it is vital to long-term survival.
Going forward - the Bamboo DAO community IS the project, and we aim to empower it further in its governance and decision-making capabilities, including control of the website, smart contracts, and funds. By doing so, we seek to ensure that the Bamboo community has an active role in shaping the future direction of $BAM.
To achieve this, we are working diligently to strengthen the DAO’s structure and mechanics. As part of this effort, we will actively encourage the community’s participation in driving new initiatives and proposing talent approval for the DAO’s growth. We firmly believe that a fully decentralized ecosystem will not only foster trust but also unlock the full potential of $BAM as a truly community-driven digital asset.
We acknowledge that this process may entail challenges, but we firmly believe that the benefits of decentralization are essential for the long-term success of Bamboo ($BAM). We will keep you updated on the progress of this initiative and welcome your valuable input as we move toward a more decentralized and inclusive future.
3. Exploring Utility for $BAM:
To enhance the utility of $BAM we are refining & consolidating our DAO communication channels. Following feedback from several token holders, the general sentiment remains to rely on the team to drive new initiatives, however, this is no longer sustainable. We need the DAO to take over this role in the future in line with the move to full decentralization. Currently, we have discussed potential future utility to start the conversation. Ties to VersaPay/Lootverse and other metaverse initiatives could bring exciting utility and value to $BAM holders and these partnerships will still be explored.
One initiative we think may garner DAO support is Tokenization. BlackRock’s CEO expects the next generation for markets to be Tokenization and BCG estimates asset tokenization could reach $16 trillion by 2030. A potential use case could be implementing a platform that issues tokenized securities and/or secondary market trading of these securities. Through the platform we could also tokenize equity only available to $BAM holders, giving the DAO and its members a direct beneficial interest.
Additionally, we are considering launching a Project Launch Pad, and lastly - open-sourcing the wallet. These initiatives have the potential to drive organic growth while supporting user adoption and technical development.
Conclusion
We want to reassure you that we are here to stay and remain active participants in the blockchain space. We made the effort to migrate from BSC to ETH because we firmly believe in the potential of Ethereum and its ecosystem. Blockchain technology has come a long way since its inception in 2009, and we are excited to witness its continuous growth and development.
In conclusion, we extend our heartfelt gratitude for being a part of the Bamboo community. Your support fuels our determination to overcome challenges and strive for success together. We’re going to answer more questions and give more details but know we’ve been quiet for a while. We know there are a lot of questions out there, so in the continued spirit of transparency we are going to collect questions and do an FAQ over the coming weeks.
Thank you,
The Bamboo Team