Summit Update 3101
Hi all!
January has been a month of sorting, and building.
The market looks a lot better overall, crypto and NFT, that is, sentiment is starting to come back and it looks like this year could be a really exciting one.
As per tweet (https://twitter.com/Kceoda/status/1616822784923140097?s=20&t=YQ9lXBFjboYz06BzHm0tWA) the data is in for KODA distribution to KAPEX wallets. The list will be released within the week and the buy for this is imminent. We will be happy to move on and wave goodbye to KAPEX, we are taking the positives and building on what we have.
That being, focusing on a single token and what we see as our primary focus, the NFT space we believe will be able to target our resources and get better long term results.
The new KODA website’s arrival is imminent.
SummitStudios has been pretty active, and there are KODA contributions being made from there as promised (pending), you can follow the studio on twitter https://twitter.com/SummitBCStudios where the contributions are posted as well as work updates. We see this as an opportunity to build our following and collaborate with other projects that we are working with.
ByeBanX (https://twitter.com/byebanx) remains the only available guaranteed entry to EdYN as it stands, royalties have been cut in half to match those of the most successful projects and reduce the cost for trading to the community. We have ‘ByeBanX Reformed’ waiting in the wings, but we plan to take community sentiment into account as we approach the marketing launch of EdYN before confirming this launch and the combined utilitiy/s. EdYN gets us super excited every time we discuss it. The plan is to pitch the project to some potential major investors over the coming weeks and months under NDA’s. All further information on EdYN is within sealed lips
SummitSwap is the project we put a lot of effort and investment into early days, and in truth we did not get the traction we anticipated with it, this is largely because of fierce market competition and the huge influx of similar functioning DEX’s as well as the change in market conditions and demand.
Having liquidity on SummitSwap as it is not listed (STILL!) with CoinMarketCap, (which we believe is because of low trading volume) isn’t really beneficial to KODA.
We are looking to involve the community much more going forwards with the project decisions and direction, so here is the first one we need your help with.
Although we know you guys love SummitSwap we are considering the following move and will take a community vote to decide the outcome.
Option 1.
Leave it as it is.
Option 2.
Remove KODA liquidity from SummitSwap and buy tokens on PancakeSwap with the BNB in liquidity, burn the KODA tokens in liquidity (will impact price).
Option 3.
Remove KODA liquidity from SummitSwap and add it to PancakeSwap (no price change).
Anything but option 1, effectively means SummitSwap will not be used as a DEX, unless other tokens chose to list- but listing tokens is not going to be our marketing priority for the foreseeable, all the other features will still be available. Anyway, down to you guys. Tom will do a poll after sufficient discussion time.
Trading fees-
Additionally proposed is a PancakeSwap blanket fee structure of 5% in and 5% out or 0% in and 10% out. We will hold a further poll so the community can decide on this too!
Take care everyone!
James & Summit Team.
