With pain in our hearts we have to inform you that we will have to stop all developments on our platform and project by the end of June. Our business model consisted on having revenue from fees collected from our DEX and NFT marketplace, as well as from secondary sources like our own NFT sales. Market conditions set back the token price significantly and resulted in disappointing sales of our first NFTs as well as very low trading volumes on our app. Since the volumes on our platform and our NFT sales were a vital part of our income stream, this results in insufficient funds to cover all expenses for continuation (market making, marketing, infrastructure costs, etc).
To be clear; we have fulfilled all our obligations to our partners and sale participants. Seed sale participants that were still eligible for future token distributions have received stablecoins for their due tokens at a valuation of $0.0033. Our token will remain tradeable on Pancakeswap for those of you that want to trade the token.
We appreciate your help and your support during the last year. It helped us grow and develop our project and platform to what we have right now. Rest assured that we did everything within our power for the project to become successful. We envisioned a different future of our project and platform and regret the tough decision that we had to make.
the Blue Horizon team