Some of you may have already heard that Azorus is delaying their IDO at this time. Though disappointing, we believe this was the correct decision. Azorus’ requirements in terms of server costs and developer cost exceeds what we expect an Ergo IDO could raise in this market. We have discussed options with the team, such as a ISPO on Ada and some other avenues, and they are pursuing grants from other UTXO blockchains as well. They will come back in some months for an IDO, once they have an MVP to show the community.
What does this mean for Ergopad?
At the moment, we don’t have an IDO for July. We are still in discussion with Minted With Lovelace about August, and we have a few other meetings to discuss potential smaller IDOs for the upcoming months. There are interesting projects in the works that require much more modest funding to get off the ground. These projects make sense for our platform in the current market environment.
However, we are not interested in rushing things. We feel it makes more sense to vet these projects properly, and give the community time to assess them as well. Projects should have a website, whitepaper, and some evidence that they can build the platform they promise. Though we would prefer to do at least one IDO per month, we think it serves the community better to be thorough.
That doesn’t mean we are going anywhere, and please confirm for yourselves by checking our github page. Development is very active, and our team is working hard to deliver the Paideia MVP and an NFT sales platform that anyone can use. We’re also pushing incremental improvements to optimize the website and speed things up.
We value you, our community, and would like to hear your feedback going forward. The socials have gotten quieter recently, and we don’t blame anyone for taking a break, but feel free to pop in now and then and see where we’re at.
Thank you for sticking with us!
- The Ergopad Team