TheBPath ⚡

The Good, the Bad and the Ugly First of all, it's important to acknowledge openly that this launch didn't go the way any of us hoped, so far, and we completely understand everyone's frustration. As you've likely noticed over the past months, we've actively listened to community feedback and implemented numerous improvements to each launch - from increased communication to greater accessibility at lottery and bigger opportunities + several new implementations. However, no launch comes without risk. Until now, that risk might have been underestimated because we've been fortunate enough to experience mostly successful TGEs. This risk has rarely been openly seen or directly impacted the community, as our team typically managed to resolve issues through business discussions - from certain entities trying to change the listing date just hours before launch, to negotiating strong tokenomics benefits specifically for our users. We mention these aspects simply to emphasize that xLaunchpad’s commitment has always been to support our community. The Good To fully understand the scope of this launch, let’s highlight a few key benefits that Pell Network brought to xLaunchpad participants: 🔸 Tokenomics structured for community: significant unlock at TGE and a short vesting period, without any selling pressure from private sale investors (whose allocations remain locked until the public receives their entire allocation). 🔸 Reputable private investors: participants in Pell Network’s investment rounds include some of the industry's top VCs, who fully understand and actively support their products. 🔸 Impactful products introduced: this wasn't simply another token; it brings valuable products to MultiversX, including EGLD & BTC Restaking, a security layer for Lightspeed chains, and more. 🔸Tier 1 CEX listing: beginning the listing process directly on a Tier 1 CEX represented a big opportunity for our community. It's not easy to immediately access a global trading environment, and Pell Network accomplished this from day one. 🔸 Strong technical talent: Pell Network's team is strongly focused on delivering product value, with significant development achievements already made. 🔸 Upcoming Pell blockchain: planned for this year is Pell Chain, a high-speed, high-efficiency blockchain architecture intended as a highly efficient bridge connecting different blockchains and creating an omnichain restaking ecosystem (with PELL token serving as the chain’s gas token). The Bad What is a Launchpad? There are many misconceptions about how a launchpad works, so it's important that our community clearly understands xLaunchpad’s role. 1⃣ xLaunchpad is a place where users and startups exchange public round allocations. xLaunchpad performs due diligence, ensuring startups are real and legally compliant, while providing users a chance at purchasing tokens. 2⃣ We offer substantial support to users and startups, aiming to increase their chances of success - but the success or failure of any startup is not under our control. 3⃣ The startup space is inherently high-risk and high-reward, and despite our efforts, xLaunchpad (and any other launchpad) is no exception. Many risks have been successfully avoided until now, possibly giving users sometimes a false sense of security. Yet, safety is never guaranteed in this industry. Startups can fail, and tokens can underperform for numerous reasons. Key questions from the community: 🔸 Specifically regarding this launch, there were extensive discussions around the listing mechanism. For several recent launches, we've supported a "CEX first" strategy due to important benefits: deeper liquidity, no bot interference, no failed transactions due to slippage (high volatility), greater visibility/marketing initiatives, and more. 🔸 Timeline adjustment: Initially the listing plan did not confirm a tier 1 CEX directly at the launch. Despite Pell's strong partnerships, CEXs never guarantee a listing. However, after the successful raise on xLaunchpad and the closing of a new strategic round, business discussions evolved positively, resulting in an agreement to list despite the recent Bybit hack which caused more delays (listing was confirmed less than one week prior to launch). 🔸 Another concern raised by our users involved airdrops and community-growth allocations. These were essential to the project's success, incentivizing users to support the protocol socially or directly as users, leading to significant milestones ($600M+ ATH TVL & 500k users). Importantly, these allocations were transparently communicated from the start on the xLaunchpad page and in the tokenomics. The Ugly 🔸 One key aspect is something everyone is tired of hearing but remains undeniably true: the current market sentiment. Though tiresome to discuss, challenging market conditions significantly impacted the launch. 🔸 Additionally, certain partners, market-makers or platforms involved with the project will be reviewed to ensure no foul play occurred. 🔸 At launch, the token suffered significantly from heavy shorting positions, greatly affecting price action. 🔸 The delayed DEX listing resulted from the team needing additional time to investigate the unusual price action at launch and from a disruption caused by a random person that listed PELL on xExchange prematurely. This occurred just minutes before the planned listing, further increasing delays. Recently, xExchange transitioned to a fully permissionless DEX, making situations like this possible. 🔸 Misinformation, fake news, and unfounded speculation were another unpleasant aspect of this launch. Unfortunately, many community members shared false or misleading information without considering the broader impact on fellow community members, the startup, or the launchpad. We strongly condemn intentional or careless sharing of misinformation, as it only compounds the difficulties already experienced by our community. 🔸 Unfortunately, the fast-paced nature of the web3 market has distorted perceptions around startups. However, this doesn't change the fact that genuine startups still require time and sustained support to thrive. The current market sentiment has clearly demonstrated that a continuous cycle of no-utility token launches is unsustainable. What's next? Pell Network remains committed to moving forward with their plans and delivering on their roadmap. The startup will continue to communicate product updates and expand their DeFi ecosystem. We encourage our community to continue supporting Pell Network as it has strong fundamentals, technical innovations, and an exciting roadmap ahead. Investors naturally become cautious during difficult market conditions, so it's up to each of us to highlight the value we've discovered in this startup and its products. As for xLaunchpad, we remain committed to our mission of bringing value to both users and startups. It's important to remember that every launch has its own particularities. However, all necessary steps to prevent situations like this from reoccurring will be taken. Regardless of the circumstances, we'll continue to communicate transparently, just as we have in recent months. Thank you for your support - we look forward to overcoming this challenge together, and many future ones.