November has been an interesting month for everybody in the space as we all witnessed the collapse of crypto giants FTX and Alameda Research. The noise has dominated news outlets and social media websites the past 2 weeks. While everyone waits for information to be revealed, our team has made slight modifications to navigate this environment. Although there has been no financial impact to Sigma Labs, we are certain the aftershock is far from over.
What To Expect
Sigma Labs is focused on building during this time and waiting for the dust to settle as we prepare to fire up brand awareness campaigns across L1 networks we intend on deploying on.
sSDEX Utility Implementation
Now that we have successfully initiated our first claims for sSDEX on the Avalanche C-Chain network, we have been preparing to deploy genesis SigmaFi contracts and other elements to integrate further utility into the sSDEX ecosystem.
Liquidity Event and SDEX Genesis
Being different is in our blood. While everyone else is stuck following the same recipe which has been proven to fail over time, Sigma Labs is looking to differentiate through innovative thinking. By focusing on unconventional methods, we can not only stand out in a crowd, but potentially achieve a much higher long term success rate solely based on being distinctive.
Capital Raise and Partnerships
Our executive team is working around the clock to secure additional funding through grants and token allocation sales from reputable names which will allow the successful expansion of Sigmadex into multiple L1 chains with sufficient liquidity.
To kick off deployment across multiple ecosystems, we will be pushing our sSDEX claim event to all chains we are partnering with. Sigmadex is currently in communication with several L1 networks to increase adoption and build our brand as a household DeFi name.
Our value proposition has changed to reflect our products purpose, methodology and current market conditions. The v3 whitepaper will outline the SigmaFi use case, its association with Sigmadex and its role in SDEX stabilization through game theory elements.
We remain optimistic despite the shock to the markets this past week. It is clear that the crypto space as a whole requires more decentralization, transparency and locked liquidity to prevent disasters like this from continually occurring in the future.