In preparation for the launc toh of the Dexfolio app on the Google Play Store and Apple AppStore, and to put Dexfolio in the best position possible for it’s launch, we will be making a huge marketing push and upscaling our app development. We have recently hired a marketing agency in order to help us increase Dexfolio’s exposure. They have already started reaching out to a number of popular crypto news websites and blogs. Keep an eye out — you will notice increased marketing activities in the coming weeks.
We’re also ramping up our development and starting to build out post-launch features! First of which is the token details page. It will include a huge amount of info and we’re super excited to share the design previews with you in the coming weeks. Here’s the first preview.
To fund these changes, and to allow us to take Dexfolio to the next level, we’ve decided to remove $75,000 worth of BNB from the liquidity pool (there’s over $200,000 currently). We will do this in progressive steps to ensure the remaining liquidity is sufficient. Removing this liquidity won’t have an impact on our investors as our LP staking dApp encourages our community to provide us with additional liquidity. Especially with this marketing push, we expect to see a lot of staked LP. Additionally, our liquidity pool is already much larger than necessary for a project of our size. The alternative would be for us to sell portions of the DEXF that we’ve received from the treasury, but this wouldn’t be the correct move due to the price impact it would have on our token.
The BNB from the LP will be used to fund the next stages of Dexfolio and the DEXF part of the LP pair will be kept within the following wallet: 0xd8A052a5d9683679580A6aA47263Bfc6F0d1dD57
When we launched Dexfolio we discussed that the liquidity would be locked for 6 months. We originally wanted to stake the liquidity in our own staking dApp, but due to the dApp not being ready upon token launch, we instead decided to temporarily lock the LP for one month in a different dApp. When this one month lock came to an end we were already aware of the vulnerability that had been found in our old staking contract. There was a small possibility at this time that we may have needed to do a token swap, so at this point we decided to hold the LP until we were sure that the LP was once again safe to be locked. Our LP has been unlocked for the past 6 weeks and our community can continue to have confidence in our future intentions with this LP due to our decisions to doxx our Founder, Ben Sash and by us continuing to deliver on our goals of making the Dexfolio app a success.