🍐⚡️😞 The Final Medium Blog 😞🍐⚡️
In this Medium we will explain everything on why the PearZap team will stop developments on PearZap.
What has happened over the last few weeks?
The PearZap core team has tried to get as much exposure as possible in the last few weeks. The marketing team spent around 40–50k on marketing to get as much traction as we possibly could. The dev team released our new BETA JUIX DEX and developed a completely new token called $JUIX. $JUIX token was needed to backup $PEAR as a DEX token since $PEAR is capped to a maximum supply of 60M.
The community wasn’t as hyped about $JUIX as we thought they would be. The launch of $JUIX was a big fail since we only raised about 15% of our hard cap.
After the launch we proposed to remove the cap from $PEAR so that we could use $PEAR as a DEX token and keep full focus on $PEAR. The community voted against the proposal.
The only thing the team can do now is upping the $PEAR maximum supply cap and decrease the emissions of $PEAR per block. This however would only delay the issue and the $PEAR supply will just keep going up.
What happened to $PEAR price?
$PEAR prices on both BSC and Fantom went down more than Polygon simply for the fact that there is very low liquidity on these 2 chains. Lately there seems to be a lot of selling going on because investors are losing trust and lost a lot of money. Each of these sells had a big price impact because of the liquidity being so low.
Polygon also keeps decreasing in price, which tells us that people are less and less interested in the project because there is almost no buy pressure.
What now?
Without community backup the project is as good as dead. The PearZap core team doesn’t have a good fix to get the DEX up and even if we do, we expect $PEAR to keep going down in price. On each and every social post we experience a great amount of people calling the project a scam and it seems that this amount of people is growing.
The PearZap team will stop developments on PearZap and we understand the impact that this has, but unfortunately we don’t see a reason to keep working on a project where there is no light at the end of the tunnel.
The team has always been honest and transparent and towards the end we will still be honest and transparent. The team will leave all of the liquidity in the pools, so we ask of the community to remove their liquidity.
Of course this is not how we wanted the project to progress but we have to be realistic and fair.
All those eligible for fantom airdrops just received their leftover 26 days all in one go.
To assure investors that no tokens will be sold by the team we have burned all leftover $PEAR from the dev address.
- BSC: https://bscscan.com/tx/0xc991772cfcb897bb030c090cb352642fb7626b3da0a0444bb38ef60bf529f827
- Polygon: https://polygonscan.com/tx/0x4405343b43258393f829a881985d8236fac5826cc116ba64e0c3f8c1e063c4c4
- Fantom: https://ftmscan.com/tx/0x859ac5f376eb2f4aaf90a63297c9d42b529eb62e71b604b5538de51d1bb0f897
It was a hell of a nice journey and we want to thank all of you for being a part this journey with us.
