[DegenTech] Important announcement about Aliens.farms
The most important things must be written first:
We had long and intensive debates among our team members and decided to temporarily stop Aliens Farm development. In the article below, we’ve shared the reasons for our decision and what work we plan to conduct with the Aliens Farm and Magic Button projects.
Why have we decided to suspend Aliens Farm development?
It was a tough decision, and we did everything we could to continue work on Tezos. However, the market sometimes is cruel and it makes adjustments to our plans. We love Tezos, but we must admit that this blockchain has a low liquidity volume, and it’s not enough room for everyone. Here are the main reasons why we stop our work:
The Tezos DeFi market size.
We hoped to see the Tezos ecosystem development speed the same as in AVAX or Terra and tried to help newcomers start work with the Tezos to speed up this growth. Unfortunately, it didn’t happen. Some of our actions were:
- We worked with open-source code and shared our solutions with the Tezos community;
- We promoted our projects among people who worked in other blockchains, and we faced many difficulties in onboarding these people to Tezos. For instance, it is hard to move liquidity to Tezos because no bridges are available (We don’t count the WRAP protocol because it’s half-dead). It’s hard to use large sums on Tezos because the main DEXes don’t have enough liquidity in main pools, and swaps with big sums are conducted with a colossal price slippage;
- We tried to use in-built promotional tools in our AMM (referral program, interface fee, etc.), and they didn’t help because of the small DeFi community on Tezos. As we noticed, this blockchain has around one thousand active DeFi users who move their liquidity from one project to another, and this number wasn’t dramatically changed during the year. For this reason, there is no use in collaborating with other Tezos projects because we compete for the same liquidity.
Maybe the NFT market on Tezos feels better but not the DeFi.
Blockchain development is a costly pleasure.
As you may have noticed, we didn’t conduct ICO, and we didn’t mint tokens before the Aliens Farm launch. Everything was fair. We had implemented earning mechanics in our DEX, but it didn’t help. So far, we have earned approximately $300 but spent hundreds of hours on development and design. You may count how much these hours will cost in terms of money.
The same about marketing activities. Attracting new users on Tezos is much more expensive than conducting the same activities in more popular blockchains. Unfortunately, we don’t have an extra $100K on this.
We are proud of our products. They were made with passion and have a great quality. However, we can’t eat pride for breakfast. We need money to support our families, so we should choose the directions of our work that can bring more results.
So, we decided to concentrate our efforts on blockchains that have more user base and liquidity than Tezos.
What we plan to do with Aliens.Farms and Magic button
We will continue to support our projects. We want to see how to finish the Magic button experiment and maybe make some minor updates on Aliens Farms in the foreseeable future. Anyway, Aliens DEX will work. The PAUL tokens will be used in the Mine section. All PAUL rewards that we earn will be burned. Liquidity providers on our DEX will earn 0.25% from transaction fees.
Farms and PAUL token
In the next few days, we will stop farming activities. It will be impossible to farm PAULs anymore. You may withdraw your liquidity and stake in other projects.
We had some ideas on how to increase PAUL value, even some collaboration agreements. However, we have no specific timeframes for these activities.
We want to thank all community members who were with us from the start. Guys, because of you, we were happy to work on Tezos, and we hope it is not our latest publication on Medium.
The crew of our Earth orbit station is returning to their families on a small planet somewhere in the vicinity of Betelgeuse in the hope of meeting you soon, Earthlings… 🖖