The 2021-05-30 Presale did not reach its first target. Less than 100 of the needed 350 BNB were proffered, resulting in a failed Presale and return of funds to the participants.
From here, it looks like the Developers relied too much on the code, and on chatroom enthusiasm.
The minimum target approximated to 3 Bitcoin, and although this is not a big ask in cryptoworld, ARQ's capitalisation is now $164K, and ranked 2122, so the launch intended to more than double the capitalisation of the ARQ extended codebase.
The Developers put their code and their roadmap on the table for everyone to research.
But with this new offering much more than ARQ has to go though due diligence.
Researchers have to look at Binance, the world's biggest crypto exchange that is itself rapidly evolving.
Will any of Binance's projects overshadow what ARQ is doing?
Is Binance entirely compatible from financial, and other perspectives, with the aims, objectives and goals of the ARQ team?
Are the legalities of the process proposed Binance - bARQ - ARQ and looked at world wide likely to run into problems?
If there are problems, are the Developers sufficiently resourced to manage the problems and to continue development?
Be in no doubt: these Developers propose something that is truly groundbreaking. With that comes huge risks.
They have built a better mousetrap. Will the world buy it?
As Mike Tyson said "Everyone has a plan until they get punched in the face"
Will the Developers be back, better prepared, I suspect we will soon see.
I agree with you Minor-Transgression, we didnt plan it properly and yes we are coders, a lesson learned, and considering with its quick instance and lack of marketing, i was quite surprised we hit 85BNB actually.
I think we should not look at Binance as comparison in terms of its projects overshadowing what we are doing because we have an external main privacy chain and thats the point of the network and where the upgrades happen.
bBARQ is an external liquidity gateway which may have external incentives also, but inherently it gives users many options in transacting and acts as a payment gateway when integrated with our codebase at command line level.
Also yes the amount of tokens adds to the capitalization, but the bridge has a conversion rate based on certain factors which make the process fair, it is by no means 1-1.
In terms of legalities, we are inherently a privacy coin, but we are transitioning into a foundation a little down the line. In terms of bARQ we know what we are offering, and the public can see every transaction. If there was any issue with Binance or the BSC coin, we have the skills to quickly transition to another codebase.
Haha i like your mousetrap analogy
Absolutely we are back and we intent to push on and show you all what we have been working on!!
Thanks