Bit.Country Transparent Strategies Update Nov 2022
Dear Metaverse.Network & Bit.Country Users,
We have community members ask questions about if we have exposure to the current event in the web3 space. Here is a quick update and strategy from our team.
FTX & Alameda
We have no exposure to FTX and Alameda. We do not hold any assets on FTX or Alameda. Our assets are held under multi-sig wallets. We wish the projects heavily impacted can find alternative ways to continue to innovate and develop to strengthen our industry.
If you are impacted, feel free to reach out and see if there is anything we can help you with.
Exchange Partners
We are building metaverses for more exchange partners. The team will find time for a more in-depth partnership with them, especially when the situation requires, or more development and client onboarding have been done to Pioneer.
We are also considering the cost-effectiveness and user conversion of CEX listing at this time, we identify that our priority is to focus on building our product.
DEX & Cross Chain Transfer
We have been opening XCM channels with different parachains in the Polkadot Ecosystem. Some of the integrations have been completed, and we are working with other chains for the integration on Rococo (testnet) before the launch on Kusama’s relay chain.
XCM will enable token transfers across different networks in Polkadot ecosystem trustlessly, this means no centralized bridges will be required to transfer tokens across chains.
Runway Update
According to the current cost structure, we maintain a runway of 6+ years without any revenue or external investment.
However, we are expanding our team to deliver more appealing features more quickly and onboarding more partners for Bit.Country & Metaverse.Network.
Pioneer vs Continuum
Pioneer is the incubator and innovation hub of Bit.Country & Metaverse.Network. It is the canary network that will roll out the latest features first.
The success of Pioneer will also bootstrap the successful launch of Continuum. Our strategy is to onboard more users, metaverse projects, and complete thorough security audits before we launch Continuum.
Pioneer as the incubator and innovation hub, will continue to incubate more projects and early metaverse project builders.
The Data of Tokensoft & Odyssey Event
We’ve taken snapshots and backups of all Metaverse Odyssey participants and their wallets. Funds are held under multi-sig wallets. Metaverse Odyssey participants are not impacted by any of the recent events. The plans for the release of the tokens remain as follows:
- Launch of Pioneer (Happening now)
- Security audit checking all the newest features the team has been working on in the last few months that were not included in the previous audit.
- Crowdloan for Polkadot Parachain auction.
- Continuum is onboarded as Polkadot Parachain.
- Token Generation Event.
- 30 days after TGE, token buyers get their NUUM
- NUUM Listing.
There are no specific dates, as each stage in the roadmap depends on the finality of the previous stage.
Risk & Security
Our team is constantly monitoring the events. Security and risks are our highest priorities.
Some exciting upcoming events
- XenoForm — Raw Land Block Sale (Now)
- Kaosland Cup (Ready)
- Kaosland Land Distribution (Ready, distributing to 20K stakeholders)
- Estate staking!
Stay tuned! Stay safe.
About Bit.Country & Metaverse.Network
Bit.Country is a platform for user-created metaverses and games with opportunities to earn. Metaverse.Network is the blockchain protocol on top of which Bit.Country is built.
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