Project update and Announcement
We thank you all for your support in the development of Base Reward. We have recently seen a lot of negative trends proceeding from the community due to the price performance of the project, communication, and the majority of the community have demanded we do something about this and that we have listened and have therefore been working on a lasting and permanent solution to stop the undervaluation of Base Reward price and project.
Marketing: The project market situation has not been the best due to a lack of viral or mass marketing to attract new investors as the community expected. That wasn’t because the team couldn’t deliver, but that was because the resources to carry out such endeavors weren’t available. We as a team had to carry out marketing based on what was available at our disposal and even though we had a lot of setbacks and disappointments with some of our marketing partners, that helped us to understand what works best and what doesn’t. Now we are ready to move to the next step in pushing the project forward.
Our Card service is also progressing slowly due to bureaucracy but we are expecting a first major achievement in that area with payment processors and partner banks by early February 2022, and from there we will move into the next phase. We will be updating the community as we move forward.
The year 2022 will mark the beginning of our business calendar as we are expecting to release at least one service. We want to let the community understand development isn’t a simple thing or that setting up the ecosystem will not happen overnight. We are working very hard to best maximize the use of very limited resources available for development.
Changes and Updates coming to project
Throughout the year 2021, we have put together a series of feedback from the community and analysis from the team on problems and flaws within the project and we want to ensure all of that is addressed before we hit the mass market.
Token contract Update: As we all know the token symbol BRT is being used by many projects and that has created a lot of trouble for us which does not paint a good picture for us as a project.
To that effect, we will be deploying a new token contract ( January 2022 ) with a new symbol but the same name ( Base Reward = BRW ). This will also come with the introduction of an updated logo to reflect the changes, and tax on contracts when swapping or when trading.
There will therefore be an upcoming token swap event.
Liquidity, Market, and price: The current situation of the project in regard to Liquidity, Marketing, and token price after a careful analysis is a result of the:
- Raising of insufficient capital to meet all needs for mass media marketing, product marketing, Tier 1 exchange listing, liquidity lockup, and development.
To resolve the above, we have decided to set the base price for the new token deployment at $2 and also proceed to get better Funding via VCs and launchpads ( IDO ).
All necessary preparations are ongoing already.
What this means for old token holders is that they will swap their old token for the new one.
What does this mean for the project? It means better market capitalization, and a better value for products to be developed.
Communication: Communication and on-time update are fundamental pillars in every community and we have to step up to improve this year. We will be giving out updates on project development status and achievements biweekly ( twice a month ) to the community, increasing social media posts on services and projects.
We at Base Reward remain true to our vision and our commitment and we can only attain success when we quickly identify errors and correct them so as to move on and develop rapidly. We are bent on building the next biggest ecosystem supported by a vibrant community and anyone who sees its value.
The entire Base Reward Team is wishing its community a more prosperous NEW YEAR to them all and to the project.