Our passion is bringing unique DeFi applications to life. Early on we realized the creative process requires meticulous planning, clear strategic objectives, and a proven methodology with predictable outcomes. Before we start building, we brainstorm, blueprint and benchmark to ensure logical theories are in place to support our innovations. After careful analysis and pursuit to unveil DeFi 3.0 we acknowledged the path forward was not going to be simple.
Our community has been thoroughly engaged with us every step of the way with many questions being posed to our team about Sigmadex, how it works and when it will launch, as well as the progressive status of the project. In this article, we wanted to address the most frequently asked questions in order to provide more in-depth answers and have a reference to them going forward.
Why hasn't SDEX launched? Every other project I know of has launched much quicker.
There are numerous contributing factors holding back the launch of SDEX with varying degrees of severity. On a foundational level, Sigmadex and SigmaFi are not simply a fork of any other existing protocol like many other DeFi projects. Therefore, both Sigmadex and SigmaFi are defined as fully proprietary applications making the degree of complication in creating them much greater than deploying a simple fork. Although our initial plans were to release without a product much earlier, our token economics and plans at that time did not support our long-term goals. In order to remain relevant in the space, it's crucial to proceed into the market with a usable and sustainable product.
There is an overwhelming number of projects that are now dead or on the verge of failure. This is due to a number of mistakes such as not solving a real problem, launching without a product, niche saturation, having no attainable utility, arbitrary tokenomics, or launching prematurely in a way that benefits early investors only leaving the community holding the bag. Our focus is a fair and effective launch foregoing common mistakes made by so many soon-to-be defunct projects.
The market sentiment is not looking so good, are you still planning to launch in this market?
We plan on launching when the appropriate assets are ready to be deployed provided they pass internal QA and numerous third-party audits. Once we have these in place we can close our Series A and complete our marketing narrative to entice newcomers to obtain SDEX for the long haul. Although the market is not the same as it was a year ago, we have formulated a creative plan to stand out during this downturn and launch in a way that makes the most impact immediately and also well into the future.
Product Hype Vs Market Hype
Sigma products will rely on product hype through purpose, and as the crypto landscape continues to mature, it will capitalize on market hype by nature. Aligning ourselves to take advantage of current market trends while also resting on the laurels of our hard work and product suite is something that will propel us towards a bright future.
Why is there another planned capital raise?
The Series A round is required to achieve our goals and long-term relevancy. Our current capital structure does not allow us to enter the market effectively from a growth and liquidity standpoint. Therefore, we will be expanding our strategic partner's network to ensure we can create liquidity and sufficient demand for SDEX upon launch.
Our valuation and raise are not arbitrary numbers as a certain amount of capital are required to secure a stable foundation for the future of both Sigmadex and SigmaFi. A truly successful DeFi application requires not only liquidity but TVL, volume, and a strong market cap which can only be attained through careful and strategic implementation.
What will the circulating market cap be on launch day?
The Sigma Vault will release a maximum of 7,057,620 SDEX with an initial market cap of $423,457.20 USD. All transfers from vaults will be transparent and on-chain as time elapses for any party to verify the legitimacy of the transactions.
When can we expect a launch?
The team is working overtime to build the necessary assets for going to market. This includes both core development and the updated marketing narrative. A fixed date cannot be released until these assets are completed, however, we are confident that it is on the horizon.
You can stay up to date by following our Twitter and Telegram announcements channels or become more situated with our development process on GitHub. Once a final launch date is established it will be shared well in advance through our social networks as well as our strategic partners.
Can I contribute to Sigmadex?
In order to bring the highest possible value addition to the project, our team has established a predetermined set of requirements for potential contributors to adhere to. In addition, new contributors must come to the project through a reputable referral in order to provide the utmost quality and accountability across the board. The team is working hard behind the scenes to deliver and therefore has the same expectations from its contributors to achieve our goals.
Do you regret not launching 9 months ago?
Looking back it's easy to see that if we had launched even 9 months ago we would have a dead token on our hands. We never want to be in a position where we are fighting underwater or running uphill. Looking back at projects that rushed to market, many of them are in a position of failure with dropping volumes and diminishing TVLs. With sustainability, longevity, and community as some of our main focuses, a premature launch would have been destructive to our team, our followers, and our contributors adding us to the ever-growing list of obsolete projects.
Our adaptive strategy in suspending our launch for an optimal time has allowed us to forgo falling victim to the demise of so many other projects while learning from their mistakes and innovating our existing approach along the way.
Why we are using the Sigma Vault for SDEX distribution?
The vault system was created to promote even and fair token distribution among contributors without the capability of a rug pull or excessive token dumping. The vault encourages a healthy daily to unlock schedule and helps keep the volume and token value sustainable for newcomers to the ecosystem.
Did the team return contributions?
Our team made the tough decision last summer to adjust our trajectory and focus on development and strategy around the product rather than launching without any utility and granted an opportunity for anyone who wished for a return on their contribution to do so. We recognized at that time that some contributors were more aligned with launching to get their capital/quick ROI and were not interested in the long-term life of the project. Being transparent with our community, team, and contributors has always been an important pillar of our eventual and continued growth/success. As such for a 1 year period, we offered the capability to terminate our relationship with no hard feelings. We are now moving forward and continuing our focus on the development and building of the Sigma products.
There are lots of exciting things to look forward to as our roadmap is now more clear than ever. sSDEX mechanics are currently in the QA phase and will be announced in the coming weeks followed by the development of the SigmaFi smart contracts. Once these last things fall into place we will be able to launch the SDEX token into the wild.