The first days of the exchange’s operation were overshadowed by the negative background on the market regarding STEMX caused by panic sales. And the team wants to express their opinion on this.
Everyone could observe how price manipulations occurred during the week, when someone was already trying to create a wave of panic. On the day of the launch of our exchange, a similar event occurred, which has already got out of control and gained mass character. We believe that the current behavior was provoked on purpose, because the team did not give a single information guide for such actions.
Regarding the work of the STEM exchange, the first days of the launch revealed those moments that were not revealed during testing by the group participating in the tests. We receive a lot of feedback and are already working on refining and improving our exchange. New updates will be received almost daily.
We are faced with the fact that users do not understand well how our exchange works and how its mechanics work. Many aspects of pricing or emissions were not clear, and in this we will do a lot of work creating training materials and supplementing our knowledge base. Some aspects of the mechanics of the exchange were really not fully disclosed in order to protect the system from intentional frauds in order to assess the real behavior of traders.
Conducting marketing activities, we received a huge amount of target audience on the site, but the forecasts for the number of active traders on the day of the launch of the exchange did not come true. Due to our algorithm for issuing tokens with a scarce component and a small number of active traders, this has led to insufficient liquidity in trading pairs, and the team is already actively working to correct this situation.
Considering everything that is happening, the team does not intend to stop working on the project. We are faced with new difficulties and are ready to overcome them. We will continue to conduct new advertising campaigns for the target audience of sports fans, we will improve our product every day and we are looking for the best ways to develop the STEMX token by negotiating listing on other exchanges.
Our main task is to make our product perfect and attract users to our platform, and we believe that any decline is followed by growth.
But despite all the negative background, we receive a large number of positive reviews about our product, and as long as there are those who like what we do, we will not stop. We have been traveling for more than 1 year, and a few days of failures cannot change our course of development and goals. The team still believes that STEM will revolutionize the world of sports assets and change the betting industry.
Thank you to everyone who believes in us and is with us.