Setting the Expectation on Arken IDO
Thank you to the community for the support of the Arken IDO. Arken team would like to express our commitment that comes with this IDO.
But first of all, let us begin with what we cannot commit.
If you participate in Arken’s IDO and expect the price to go up 20x in a few days or hours and sell it for profit, please change your expectation.
If you get into Round 2–3 and think being locked up for 1–2 weeks is not fair, you are not thinking long-term enough.
Our token price, as with any crypto projects before us, could be very volatile. There could be someone who hyper-speculates our token price to very high and try to gain from it in the short term. That is the casino part of trading and Arken team will not be responsible for it.
The only promise we can give to you, our Arken Token holders, is we are going to keep developing better products to make DeFi more accessible. Building products and growing a strong community will take time. It’s not gonna happen in a few days. We took almost 2 years to come this far in product development, and it is still a fraction of what we envision.
Tech startups have more than 10% chance of success. DeFi projects’ chance might be even worse. That’s why we need your support to increase the chance. We need the community that wants to help make DeFi more accessible. A community that understands why multi-chain will make things more complex in the short term and why the Abstraction Layer is going to help the growth of DeFi in the long term.
We need your help trying our product and giving us feedback to help us improve the products. We need to discover your pain points in order to come up with better innovation. We need your help building products people love.
Investing in our token is not like getting a lottery ticket that can help you get 100x returns in a few days. It signified the support that you have toward our missions. Thank you for believing in our mission and our team. We will keep on building.
PS. The truth about AMM pool
The beauty of AMM is its simple yet powerful logic.
When people buy from the pool the price goes up. When people sell, the price goes down. It’s that simple. So, if you buy a token that is only listed on the AMM pool, unless there are other mechanics within the tokenomics, the price will only go up when someone else buys in.
We cannot commit that you buy the token today and you will get 10x profit tomorrow. If you understand how the market works, the possible way the price will go up that fast is from speculation.
Meaning, someone else must truly believe that the token could be worth significantly more than 10x in the future and be willing to hold on to it. Or, the more likely scenario, someone believes that someone else might buy it for 12x the next day. So, if you expect to earn a Lamborghini in a few days, you are expecting other token holders to pay for your lambo. Is that a realistic expectation?
We cannot commit that Arken Token price will rise in correlation to the token value.
The Arken team’s priority is not on the token price but on the token value. Arken Token will be used to abstract the complexity of DeFi, and help make DeFi more accessible. Arken team will keep developing more protocols, products, and services which utilize Arken Token. Over time, each Arken Token should have more utility and value.
Cuz we are BUILDers!
Cheers,
Arken
