Co-Founder and CEO Jonathan Manzi provides an update on the current state of the project and mainnet launch plans:
Recently, Beyond Protocol community members have discussed price action of BP's pre-mainnet token a good deal -- many questions in Friday's AMA touched on the subject. At present, Beyond Protocol is experiencing a liquidity crunch on its small footprint of exchange -- a liquidation of a few thousand dollars can bring the price down by $.01 or 10-15 percent. The dynamic in general is similar to what we observed during the first token unlock to pre-salers (see the last FAQ in the two messages below). On-chain analysis shows that the vast majority of Beyond Protocol token holders are staking and liquidation on exchanges is coming from a small number of pre-salers.
In the short term, to increase liquidity, we are in discussions with additional market markers for coverage on MEXC and Bitmart. We continue to evaluate with our partners and underwriters the best time to list on additional exchanges -- Beyond Protocol has offers from two tier 1 exchanges, one of which is an investor and technology partner. Finally, with our marketing partners and KOL investors, we are exploring strategic marketing efforts to increase the awareness of Beyond Protocol.
That having been said, there are two significant milestones Beyond Protocol, our technology partners, and institutional backers are laser focussed on: the launch of BPEV and mainnet. Both of these events will come with coordinated campaigns with tier 1 media, Beyond Protocol's celebrity and KOL token holders, and new crypto and mainstream partners. The good news about what Beyond Protocol has been developing will get out.
Until these milestones are achieved, particularly over short-term during the current liquidity crunch, there is a chance price action for Beyond Protocol pre-mainnet token continues on a downward trend to deeper artificially low levels. Our community members should note: Beyond Protocol and its institutional partners do not recognize the current price level as a reflection of the market value of Beyond Protocol's mainnet token. At mainnet, we are exploring relaunching the token commensurate to the true market value across a footprint of high-volume tier 1 exchanges. Token holders at this time would have the right to swap into the normative price per token.
As always, we thank you for your support of the technology we're building, which is becoming more and more in demand each day.
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