The DomRaider ICO ended a month ago. As the DRT community asked us to provide more updates, we wanted to give you further information on what has been going on recently and what’s coming next through the instalment of our monthly update story.
On the 12th of October 2017, the great cryptocurrency community funded the DomRaider project by purchasing 560 million DRT, placing its trust in DomRaider to deliver blockchain technology to change the way the entire Auction market is organized.
During the last few weeks, following the deployment of the Smart Contract, we have proceeded to the distribution of tokens and we kept our promises to deliver them in time (one week after the end of the ICO). It was a big challenge and our support team worked hard as we had to fix some issues concerning incorrect wallet addresses.
At the same time the spotlight upon the DomRaider ICO has helped us to develop great incoming partnerships with companies that are interested in using the blockchain auctions ecosystem. We are still finalizing the agreement with a big company and we will give more enthusiastic informations in the coming weeks, before the end of the year.
We are working very actively on our detailed roadmap and we still prioritize the different development. There is little for us to say at this point but we will soon explain the challenges of developing an ecosystem that is able to carry out and control the network latency for an auction network user, or testing time stamping with no constraints of block time.
In the meanwhile, we are going to launch a new up-to-date version of the www.domraider.io website soon.
What about Bittrex? And Binance? These are some questions frequently asked by contributors from the DRT community.
What you should know is that we did apply to several exchanges, but companies cannot choose which coin exchanges they join. In reality, it’s the other way around. Only coin exchanges can decide what new token will be added and traded onto their platform. As the number of ICOs have exploded since June, many exchanges have a lot of work to do in order to keep up with the demand, to determine suitability and to add new tokens to their platforms. Indeed, we would love and be proud to be listed on such big exchanges as it would bring us more visibility, as well as creating additional awareness for the DRT, and in fine develop the volume and increase its value.
How can I help the DRT to be listed on the greatest exchanges?
As explained above, many tokens are created every day and, given the demand for new cryptocurrencies launches, the exchanges limit themselves to only a handful of them. Big exchanges therefore look for tokens that have the highest interest. The best signal for them is to check the community demand: the higher it is, the more they will look into. So, the best thing you can do to accelerate the process for DRT to be listed is to tweet it and mention the account of the exchange platform. This may looks as a drop in the bucket but any help is welcome to speed up the process of deploying the token, as for us you are more than contributors — you are a real community. Together we can build a great community, raise the value of the DRT and expand the adhesion around the blockchain auctions. Thanks in advance for your precious support!
Why did the price of the DRT drop down? When will it come back to its original value and then soar? That’s the big question of the moment!
During the ICO, 1 DRT represented 0.10€. When the DRT was tradable on exchange platforms, its value dropped. The same thing happens with any ICO these days. Prices drop in every ICO during their early stages. There are many reasons for that, including the fact that some investors, who only thought short-term, needed liquidity as soon as possible and sold their DRT for even less than its original value. This is how the market goes at the beginning.
Some people who contributed to the ICO or purchased DRTs after the end of the ICO are now wondering about the price and expecting an increase. We all want the value of the DRT to go up, and it will take the time needed for that. The blockchain team is working on the developpement of the project and, as mentioned previously in the White Paper (i.e. pp Roadmap), this is a process that takes time. Then we can expect a smooth growth for a long-term period. If you expect a quick increase, chances are you’d be tempted to withdraw, and this is not a good thing neither for the community nor for the project.
The DRT project is a long-term project. It is not what we say, it is what the DRT community is saying, see below some quotations taken for our Telegram group.
As our CEO Tristan said to AFP:
On many ICOs the exchange price of the token often goes down by 80%, before going up very strongly when the project begins to deliver its first contents. We expect an increase of the exchange price in early 2018.
Next week we will give you more details on how the DomRaider team is reorganizing. Stay tuned!