Quarter 4 has started and while DappStats is working on implementing new features and updates to the platform. Sadly the speed of development has created many unhappy users and even though a new team of developers was hired in Q2 of 2021 to speed up the progress, they have had an opposite reaction to the speed, and as much as it upsets users this has upset me a lot and added to the frustration of making the All in one tool for people in crypto to use.
After a lot of consideration and thinking, I have decided to make some hard decisions that will drastically affect and change the direction of DappStats.
At DappStats we have always strived to provide the most accurate information possible according to the data we have available, but after many users feedback, checking competitors I have come to the conclusion that our main part of the platform which is stats on DApps has many flaws as an example, we only show data on native tokens of the blockchain rather then all tokens being traded including native tokens of the specific DApps and similar flaws which end up making the data being shown less accurate or incomplete.
This brings us to one of the biggest problems I have personally had during this bull season has been a lack of good developers, some individuals who are known and trustable are having a good season so charge a ridiculous amount or just don't want to commit for this period and companies which you hire basically use the billable hours to learn web 3 stuff and use your project as the playground to test. At the start development was slow as funding the development was hard and when I was able to personally inject funds to support the development, the developers were not able to deliver the quality or work at the speed I would have liked them to.
A Lot of money has been poured into DappStats to continue its development and while I am happy to inject funds till it can sustain itself, I have not been happy with the progress it has brought for the cost it had. With this experience, I have decided the next best route for the future of DappStats development will be through in-house developers, this will help with both quality and development speed. Sadly this decision will take time to implement.
Such a decision leads to makings many big changes in the structure of the platform itself, starting with, we will be closing the main section of DappStats which is the Stats of DApps till we can fix all the underlying issues/flaws it currently has and the new in-house team is ready to work.
Unfortunately, the closing of the Stats section means only current tools and some tools in production will be available on DappStats for the foreseeable future which will result in no referral rewards or Advertisements. Bringing us to the staking rewards for DappStats token holders, at this stage, the token holders have become very frustrated with rewards being their lowest since the inception of the project and even though we have tried to push the rewards higher by adding platforms side of funds, liquidating platforms positions, or injection of additional funds, it has not helped much.
So at this stage, I feel that the token holders are being dragged and the upcoming change of removing of stats section will mean no rewards for the foreseeable future. The next hard decision is the removal of the DappStats tokens from the platform completely. While some might feel sad and angry about this decision, it was something which was done after a lot of thinking and with a heavy heart. I wanted to make that final reward meaningful and exciting for everyone, please find the details below.
At the time of writing the pools had a balance of:
Feeder Pool: 97,911
Staking Pool: 27,716
As mentioned above I wanted to make this final reward more exciting so have decided to add the following to the reward as well. Converting ETH balance of DappStats holding to TRX which sums up to 89,942 TRX bringing the reward total to 215,569 Tron. I have decided to add another 235,000 TRX from my pocket for the reward bringing the Total reward to 450,569 Tron. This will be distributed as one reward payout on the 20th of Oct 2021.
Since a big payout can bring bad actors who try to take advantage of the situation and circumstances I have gone ahead and removed liquidity from Justswap so no new tokens can be bought and staked at this stage. This liquidity will be added back after the rewards distribution has been completed for users to be able to swap the DST for TRX as the DST token will have no use case anymore. Liquidity will be completely removed in Dec 2021 or when 90%+ TRX is gone.
Rewards wallet: https://tronscan.io/#/address/TAVPuV7iwMPPHBHdeUp2EiD95Lfx6sXxWu
Liquidity wallet: https://tronscan.io/#/address/TVggc1ioryfJYABVo6CLY4pwGKHXpxDiaF
DappStats will go through its most challenging times over the coming months as these changes are rolled out, and we will push through these challenges as we have done with others in the past. I wanted to personally thank each person who has supported the idea from the start and has stuck around through the highs and lows of DappStats journey and I hope each one of you continues to support and use the platform as it starts a new chapter in its journey now.
I also wanted to give a HUGE shoutout and thank you to two people who have invested a lot of their personal time in supporting DappStats, at times going out of the way to do things or help for the betterment of DappStats. Thank you so much Sloth & Erika, You both have truly been amazing people from the start and I hope in this new chapter of DappStats we can continue this journey together.
PS: Rest assured that even though tokens might not be there anymore, in the coming days I will share a google form in our telegram group for users to fill in details including an Ethereum address as I would like to give out a NFT to each staker. At this stage, the NFT will have no value or use-case but in the future, it might carry some benefits. Please note a snapshot of current stakers was taken at 4 pm UTC on 11th Oct 2021 and this will only be for people who had tokens staked at this time. More details about minimum DST staked and other information will be shared in the google form.
Thanks
CryptoSID
