I got in ICO because it looked like a solid project. I was not looking for, or expecting a 10x by day two of trading. I wasnt expecting a notable ROI before Q4. But I was not expecting a -80% either. And as much as it is denied, it got this bad as a result of multiple poor business decisions.
Thanks for the understanding. There have been mistakes along the way, that is true and also not unusual. But the team has worked hard and continues to correct and fix them. One thing that many people point to as a large factor for the low token price is unlocking the tokens with no official exchange listing. Here's a bit of background from Jacqueline Thong, Head of Operations, on what happened with that and why the decision was made to unlock still:
"I want to give you a little background: Through one of our advisors, we arrived at a listing and co-marketing agreement with a popular centralized exchange to list CARD upon unlocking. At the last moment before the schedule time of unlocking, they reneged on their offer. As we had previously announced the date of unlocking, we felt we needed to keep that commitment to the community and proceed with a more gradual approach. We will prepare a more detailed write-up on this in the future, but we are still in discussion with them to try to get them to keep their commitment to list CARD.
In parallel, our team and our advisors have continued pursuing both well-established exchanges as well as up-and-coming exchanges with innovative incentive models. While we satisfy the listing criteria given our compliant token model and TGE process, many of the bigger names now require an exceedingly high-level of community engagements to list, whether it is through token-based voting, new account creations, or minimum deposits. We are working to pick one such exchange that has achievable requirements, and we will let you know soon what the process would be for our community to give the CARD token a good show of support. We already held in-person meetings with their listing teams during this Asia trip, so we are close to able to announce on which exchange we will focus our community’s effort."
