We are a community-oriented, decentralised platform, dedicated to revolutionising the world of decentralised finance (DeFi). Utilising risk-adjusted liquidity provision, we're committed to empowering our community with access to advanced financial tools.
Our mission: Contribute to creating a fair, decentralised financial landscape.
Our journey began with a vision, a group of engineers, and a collective drive to redefine the DeFi status quo. With every milestone, our vision becomes more tangible, and our community grows stronger. Since our inception, SigmaLabs has made significant strides and overcome numerous challenges.
We are now closer to embracing the public and releasing our products than ever. We hope that this article will provide clarity and understanding of where we are going as a project in the near future.
What have we achieved this year?
The SigmaLabs team has made impressive strides in 2023:
- January: Progressed its multi-chain DEX aggregator, finalised routing contracts, and integrated Ankr RPC and WalletConnect.
- February: Refined the platform to offer competitive pricing across EVM chains, along with compelling sSDEX rewards.
- March: Prepared for deployment across multiple EVM testnets and rolled out SigmaLabs to improve liquidity and price discovery.
- April: Enhanced our dual token ecosystem, revised the sSDEX reward model, introduced cross-network functionality, and prepared for the mainnet release.
April to August (Bear Market Break): Temporarily closed our Telegram groups to focus on essential tasks such as fundraising, product development, and establishing partnerships. This decision helped us avoid negativity during the bear market and allowed us to further calibrate our business for future success.
SigmaLabs: Enhanced Focus on Marketing and Growth
As we prepare for the launch of SigmaLabs and its associated products, we recognize the importance of balancing our engineering skill-set with effective marketing. To ensure that our solutions reach the audience they deserve, we have decided to enhance our focus on marketing. This doesn't mean that we're delaying the quality and innovation that goes into our products; instead, we're complementing it with a robust marketing strategy.
Product Availability: We're taking steps to make the product available but have decided to delay the token release at this time. This decision aligns with our goal to increase public engagement and understanding before moving forward with the token. This decision is congruent with our lead and tier 1 investors and is in the best interests of all stake holders.
Marketing Campaigns: SigmaLabs has already begun implementing targeted marketing campaigns, focusing on expanding our reach and connecting with potential users. Our recent onboarding article and video are just the first results of our new marketing focus. We're excited about the new strategies we're deploying, such as engaging social media initiatives, partnerships with key influencers and web3 infrastructure.
Community Re-engagement: We’ve taken steps to ensure that our community is incentivized to remain engaged with the project by implementing the Sigmadex Syndicate and hosting regular weekly quizzes about our technology. This article too is highly focused on providing the existing community with clarity about our path forward.
SigmaLabs’ Future
To ensure a smooth roll-out, we will launch products in stages, culminating in the release of the token and governance systems:
Stage 1: Sigmadex Public Test
We invite our community to actively participate in the Sigmadex public testnet. Your hands-on experience and feedback will be instrumental in testing the dApp, ensuring stability and user-friendliness.
Community goals and incentives include:
- Execute 50 trades on the testnet (50 SDEX): Community members can engage with our platform by executing trades, helping us refine the user experience.
- Generate 100k in simulated volume on the testnet (50 SDEX): Your actions in generating volume will provide valuable insights into our system's performance and scalability.
- Use Sigmadex with 5 different DEXs (50 SDEX): By exploring different DEXs on supported networks, you contribute to the robust testing of our cross-network functionality.
- Use Sigmadex on each supported network (50 SDEX): Testing across various networks ensures a seamless experience for all users upon launch.
Completing any of the goals will provide users with an SDEX bonus claimable once the token launches. This gives everyone the opportunity to earn SDEX tokens for helping us scale test the product, as a token of our appreciation.
Should the public test prove as stable and effective as it did in our internal evaluations, it will pave the way for a swift deployment of the mainnet, making it accessible to users.
Stage 2: Sigmadex Public Launch and SigmaFi Testnet
We will launch the SigmaFi testnet, initiating another vital stage in our development. This 30-day testnet phase is a precursor to our mainnet launch and will pave the way for the TGE, the date of which is yet to be determined.
Community goals and incentives include:
- Enter a gamified LP position (50 SDEX): By participating in gamified liquidity pools, users can test the responsiveness and efficiency of our system, aiding in our product's fine-tuning.
- Mint a SigmaFi NFT (50 SDEX): Engaging in the minting of SigmaFi NFTs will help assess the smoothness of our NFT integration, a crucial aspect of our future offerings.
- Use Sigmadex with 5 different DEXs (50 SDEX): This challenge aims to evaluate Sigmadex's compatibility across various decentralized exchanges, ensuring optimal interoperability.
- Use Sigmadex on each supported network (50 SDEX): By testing Sigmadex on different supported networks, we can ensure its broad adaptability and stability across platforms.
Completing any of the goals will provide users with an SDEX bonus claimable once the token launches. This gives everyone an equal opportunity to earn SDEX tokens for helping us scale test the product.
The SigmaFi test stage will initiate a methodical evaluation process similar to that of Sigmadex, lasting for a 30-day period. The preparation for the subsequent mainnet launch will occur concurrently. It's important to note that unlike Sigmadex, SigmaFi's functionalities are intrinsically tied to the active state of the token.
As such, the timeline for SigmaFi's launch is contingent on market conditions.
Stage 3: TGE, Governance, and SigmaFi Launch
While we cannot make any concrete commitments as to when the TGE will happen at this point, it is nonetheless a part of our plan, to be implemented at a time when the market is most receptive to our token and main product.
With the token we have a fiduciary duty to do what we believe is best for our investors, so we made a decision to pursue products that do not initially need SDEX is a great way for us to demonstrate our progress and keep growing the trust our community has in our abilities to deliver meaningful products.
In this last stage, the SDEX token, SigmaFi, and our governance platforms will be launched and made available to all investors, users, and interested parties. Our goal is to generate as much awareness, momentum, and interest until this stage goes into full gear.
Other Products
SigmaLabs is an innovation company at its heart and we continually push the DeFi frontier forward, so we are happy to announce that we’ve been working in the background on novel products we can release without the initial need for our token.
The recent wave of interest in DeFi and crypto has inspired us to create smaller, focused, use-case products that will not rely on the SDEX token, but if successful will attract tremendous amounts of interest to SigmaLabs.
Expect an announcement soon revealing our latest upcoming product.
Updated Litepaper
In addition to the stages and new products, we are working on a new and improved litepaper that will contain all updated information regarding token vesting schedules, changes to features, and details about our platform and products.
This document will provide a higher level of clarity for all SigmaLabs community members. All changes aim to give the SDEX token the best possible chance of success in the future.
All rewards earned during the testing phases, as rewards for using the products, or any other way (promotional campaigns) will remain locked until they are distributed after the SDEX TGE.
The token will be launched together with our governance platform and SigmaFi, our gamified token staking platform.
Addressing concerns
A minority of our community members and investors are continually asking for us to launch the token immediately, however as mentioned before it is our fiduciary duty to act in the best interest of investors, even if they are asking us to do something that will fundamentally damage their investment.
As such, the token will only be launched in favourable market conditions, when we believe we have the greatest momentum and ability to succeed.
In regard to community updates, we are committed to providing at least one general update per month sent through our newsletter that will contain information about actions taken to grow the SigmaLabs project, whether they are in marketing, business or technical development.
More than ever, we invite our community members to participate, engage, and shape the future of SigmaLabs. Your feedback and support are crucial in our growth, and we stand committed to fostering an environment of collaboration and mutual growth.
Closing Words
As we look back at our journey, we are filled with gratitude for our community and the strides we've made together. It’s been a challenging road, but we’ve learned a lot. There are those in the community that seem to desire a catastrophic outcome, but we will do what we believe is best for the project and all of our caring community members and investors.
Our commitment to transparency and ongoing development is stronger than ever. We urge you to continue supporting SigmaLabs, helping us shape the future of DeFi.
Remember, you are not just a community member, but an essential part of our journey. Without your support as a core community, SigmaLabs cannot stand the test of time.
Join us on this exciting journey.
Together, let's redefine DeFi with SigmaLabs.
SigmaLabs: Revolutionizing DeFi with gamified products. Discover the best trades with Sigmadex, learn with our Academy, and power it all with the SDEX token.
