CEO Dev Diary from 25.04.2022

Here's Mr.Tony.

This is not a scheduled project development update report.

This is information about the decisions made and certain response measures.

Today we faced a “black swan” on the Sigen.pro exchange. I'm talking about the fact that the so-called UMI "wall" has stopped existing today. I can't say that NFTeam was ready for this right here and now. After all, the GLZ/UMI pair is currently the only way to convert GLZ tokens.

As we have repeatedly said before, we cannot and do not have the right to influence the market. However, under the circumstances of unpredictable volatility of the UMI, I see significant risks in such a tight peg of the GLZ token to the UMI coin.

NFTeam has been negotiating with the Sigen.pro exchange to list USDT (a stablecoin - a digital USD) on it and link it to the GLZ token.

Today we have intensified these negotiations as much as possible. As a result, we reached an agreement that the GLZ/USDT pair would still appear on the Sigen.pro exchange on April 28, 2022. USDT will also appear on the exchange.

What will USDT bring to GLZ token users?

This is a stable alternative way to convert crypto assets.

It is not just converting GLZ to USDT and vice versa. It is also an opportunity to convert USDT to fiat funds or buy a stable USDT for fiat money. I am sure, for example, that for African countries, this is an effective way to keep the value of their fiat income in local currency.

We've also been negotiating with the Sigen.pro exchange for adding a direct GLZ/BTC pair. Preliminarily we expect it to appear in the middle of May. In addition to BTC, we plan to launch GLZ/BNB and GLZ/LTC pairs.

I want to note that we have intensified negotiations not only with the Sigen.pro exchange but also with other exchanges. We intend to diversify the presence of the GLZ token on different platforms and aggregators as soon as possible.

NFTeam will have to get involved in the technical process of listing new pairs. This is an additional workload in anticipation of the NFT platform alpha version release. But I am sure that the developers, led by Hinata, will make every effort to stick to the previously planned dates.

NFTeam devoted a lot of effort and resources to the project's development. We will protect our product for as long as necessary - by all available and acceptable means.

I should say that I will consider delisting the GLZ/UMI pair from the Sigen.pro exchange after adding the GLZ/USDT pair. At least for some time, which will be required to stabilize the UMI coin.

NFTeam, as always, is open to suggestions and objections.

I look forward to your feedback in the comments.

And I'm waiting for news from Hinata just like you!

See you next time!