No surprise that last month was crucial for the entire ecosystem. Since Terra crashed the team was focused 100% on how to survive and deliver.
A lot of uncertainty was in our minds:
- How can we maintain the project running?
- How can we give visibility to our loved community?
- Most of the funds raised in the LBP vanished, how can we keep going?
- Where should we move the liquidity pool to provide a safer place for the LOCAL holders?
Looking back it is easy to judge our decisions, but we learned during our careers that during crisis time it is important to make fast decisions.
First decision was how to save the remaining tokens of the LBP that more than 700 stakeholders believed in us. We decided to move our liquidity to Avalanche and we provided 100% of the team’s remaining funds as liquidity to the pool on TraderJoe.
Second decision: Where to go? Solana seemed like a good idea at the time. Looking back this was a hasty decision and the more we thought, the more we were convinced that we should not leave the Cosmos ecosystem as it aligns with our multi-chain vision of giving broader access to DeFi and tokens to everyone, we also listened to our community that were supportive but at the same time were asking to launch first on Cosmos.
With a new direction in place and still needing funds to support development we continue our quest for a grant program since we believe that taking money from VCs will deviate us from being community driven and decentralized.
While our dev team started migrating the protocol to CW1.0 we received a message on our Discord from a crazy inspired team.
The Kujira team contacted us directly and they knew everything about Local. With a human approach they invited us to submit a proposal to be voted on by their community. It was an easy decision. We believe that the only way to succeed is to have sustainable growth and Kujira has the right vision, team and a strong community that will boost Local to the right path.
In the next few days we’ll submit a governance proposal to have our protocol running on their new Testnet so we can go back to receiving feedback from the community and improving the platform. We hope to have the support from our LOCAL community as well from our new friends from the Kujira family.
And for the Kujira community that are new to LOCAL, you can find out more information about the protocol and roadmap here:
Website — https://localp2p.money/
Litepaper — https://localp2p.money/local-litepaper.pdf
Github — https://github.com/Local-Money
and check our community here:
Twitter — https://twitter.com/local_p2p
Discord — https://discord.com/invite/meXhfQ8TWr
Kujira will launch their blockchain 1st of July and we are committed to be a part of this new and exciting ecosystem.
This all happened in less than 4 weeks.
We love the crypto world and we will continue doing what builders do.
Hi Kujira 🤝