This past week we have been hearing some complaints about our project, regarding our marketing practices, token administration, and communication. Some people have asked if we listen to our community at all. In this post, we would like to clearly state that yes, we definitely listen to you. We hear everything you say and we appreciate your suggestions. Here, we will talk more about that and explain exactly how we apply users’ feedback, in addition to telling you about the most useful ways you can help this project to succeed.
First, let’s speak about why we are not listing our token on exchanges. The fact is, this is a complicated issue. All countries are experiencing regulatory uncertainty. Following expert advice from our lawyers and advisors, we have decided to not seek to list our token until we have a clear idea of what regulators decide. In fact, it is looking more and more like companies that do seek to list their own tokens will fall under regulatory sanctions. So, for now, the BBT is just listed in those exchanges where our token buyers, or their exchange managers, have already listed it themselves, without us.
We are also hearing complaints about liquidity. Some people in Telegram are pushing us to do some “marketing” for the token, which means basically token shilling. Once again, this is something we will not do. Anything resembling pump and dump schemes, like promoting a token as an investment, is under close scrutiny by regulators. Moreover, it is an illegal practice in most jurisdictions! In truth, our token was not created to be traded as a commodity. It is a utility token. So, just like in the listing issue, we are not doing anything that would drive token price up in the short term, only to cause harm to the company in the mid-term. We want to serve you for many years to come, not have our company shut down because we acted rashly. Therefore, we are not doing THAT kind of marketing.
Our approach, as we have said, is to build a real product with a real market value. Exchanges and liquidity will follow. Since the BBT is a utility token, its value will be in its REAL USE. All our efforts are aligned in that direction. Because of this, we are working to:
- Build the product. New releases of the beta will continue so you can try them for yourself, and we are testing all the features as we go. We have planned for a rigorous beta testing period in May so we can launch a very stable marketplace in late June.
- Grow our Seller population. Right now, we have +150 potential sellers in our pipeline, and the number is growing! Our goal is to increase this number as much as we can during the following weeks.
It is here, in these areas, where we need you. First, you can download the app, try it, and send us your opinions at [email protected]. That is really important for us to understand the overall UX of the platform, and improve the user experience. We are working on more features, so any feedback will be greatly appreciated.
Second, you can help us bring sellers into the marketplace. Our first sellers can subscribe through this landing page: https://mailchi.mp/247bc905d5c6/sellers-campaign We are also preparing a promotional campaign to activate referrals. Please stay tuned! Moreover, we are starting to experiment with the creation of local nodes in some countries. As a decentralized platform, built to empower people through blockchain technology, we are looking for the right way to do that, to find a win-win situation for everybody. If you read this, and you would like to create a local BitBoost node, email us at [email protected]. We would love to read all your suggestions and proposals on that matter!
Finally, balancing community expectations and business goals is always a challenge. Building a marketplace software stack, and then marketing it into a profitable business is not easy either. A decentralized marketplace? That’s even harder. We try to be transparent every step of the way, and we always hear your opinions and requests. But, we can’t always do everything you ask for, because maybe it’s not possible. Crypto business is changing every month, and we have to react accordingly, changing our strategy and making some decisions that might be in contradiction with previous ones. Realistically, this is how it goes. Our commitment is to make choices that protect both the community and the company developing the technology. At the same time, we want your constructive ideas and opinions. If you want this project to succeed, you have already several ways to help. The company, the team, the project, the community, and the eventual token price will really appreciate that!