Now that the CrowdSwap public sale auction is over it is time for a review. First of all, I want to thank the team and the community for their great support during the auction. Each of you who helped in any way or took part in the auction conduced to the success of the auction. This symbolizes what excels the CROWD.
We have created a market for the CROWD token on Uniswap and our staking platform is already generating rewards for the stakers. This is a huge step forward – and an essential one regarding our CCLP feature that, without the CROWD token, would have no fuel for the forthcoming ride.
But not everything went as expected. Many pitfalls had to be accepted, imponderables had to be dealt with. Regarding the outcome of the auction, we would have funded even more if some of these conditions had shifted in our favor.
Users encountered and are still encountering different kinds of problems along the way of taking part in the auction or claiming their tokens. Decentralized platforms will, and that is what we believe in, change the future. But we had to find out that the whole ecosystem is not yet ready for it. Although we tested the auction platform deeply, we were not able to check its functionality on every single device.
The market situation
Some days before the auction, the crypto market recovered following Bitcoin’s pump from USD 35.000 to almost USD 45.000. It looked as if the fear would vanish bit by bit. This is usually a good prerequisite for any public sale. But let’s face the truth. The circumstances at the beginning of the auction were not great.
The conflict between Russia and Ukraine did not help either. Fear and uncertainty spread panic in many financial markets and the crypto space has not unglued from the traditional markets yet.
It was a great experience for us to see so many newcomers take part in the auction and thus indicate their belief in CrowdSwap. And yes, I have to admit that we did not make it easy to participate: Transfers to wallets, swapping coins and tokens, importing the correct tokens to the wallet and doing cross-chain transfers – for many, these preparations were difficult to overcome.
I talked to hundreds of people before and during the auction and tried to support each of them individually. What pleased me enormously: Nobody that I talked to gave up even if it took hours to get into the auction! And in the end, everyone made it!
Eventually, questions about our marketing strategy have come up. We prepared for the auction teaming up with high potential international influencers on Twitter, YouTube and TikTok, we offered Community Engagement, registered in ICO listings and presented our project on highly frequented pages. A lot of the aforementioned turned out to be scams or offers to lack in substance.
However, we have to say that our German YouTube friends did an extraordinary job. We are very grateful for your support before and during the public sale and we are excited about the upcoming years of our collaboration. Thank you very much!
The essence is that you can only rely on decent contacts. This we will keep in mind for our marketing strategy in the next months.
Back on track
After the auction is before cross-chain liquidity protocol (CCLP)!
What we’ve learned from the auction is that there is a prevalent need for an easy cross-chain solution. The good news is: We are working on it as you are reading these words. We are looking forward to building a better cross-chain experience. Any opportunity should be easy to take. Our best-price-routing will be taken to the next level of market comparison. No other project offers a comparable feature at the moment!
Still, there is a lot left to learn and we embrace this way of learning, adjusting and implementing to end up succeeding. I personally learned that our CROWD community is strong enough to overcome pitfalls like this. I am proud of all of you who participated in the auction and supported and continue to support CrowdSwap.