Pacific DeFi — Weekly Report: Oct 11th-18th

Current Weekly Summary:

4th Week on PancakeSwap DEX

  1. Price has been range bound between $0.018 — $0.026
  2. 100% of total IDO tokens are now ‘unlocked’ and can be claimed by users, while 70% of private sale tokens are ‘unlocked’
  3. Current circulating supply is ~16.5mn $PACIFIC, giving a circulated market cap of ~$300k USD
  4. PancakeSwap DEX volume past 7 days: ~$240k USD

IDO selling slowing down:

  1. At the time of writing, the IDO contract still has 4.9mn $PACIFIC left remaining as users continue to claim the remainder. A total of 4.3mn $PACIFIC has been claimed over the past 7 days, with a majority of claimers selling $PACIFIC for $BNB
  2. Given that price has been range bound this week, it seems that the impact of selling a majority of 4.3mn $PACIFIC has been muted as many buyers helped stabilise price
  3. This is an indication that buying pressure is strong at these levels, with the remaining IDO selling pressure reducing enough so that demand > supply, pushing price up over time

Technical Development Progress

  1. Team is testing the UX/UI integration of App HomePage and Liquidity Pools — currently we are fixing bugs and formatting issues that will be resolved in the next couple days
  2. Testing PACIFIC staking and PACIFIC-BNB LP farming contracts using BSC Testnet. The contracts are audited by NonceAudits — https://nonceaudits.com/ and the team will share the official audit documents shortly on the Pacific DeFi website
  3. The team is currently working on the Polygon bridge and Polygon staking and LP staking contracts to expand future liquidity. Completion is likely to take 2 months for contracts to be fully developed, beta-tested and audited before going live
  4. Once team is near completion of Polygon bridge and relevant staking and LP staking contracts, work will begin on an ETH bridge with ETH staking and LP staking contracts

Multi-Chain Approach before High-Yield Vaults

  1. Our team is creating bridges across popular blockchains: BSC, Polygon and ETH to deepen it’s liquidity
  2. These bridges will act as ‘gateways’ to access liquidity across multiple blockchains and acquire DeFi users in the process
  3. Staking and farming will be available on BSC, Polygon and ETH
  4. Integrations on Solana and Avalanche are also of high interest to the team and will be next
  5. Only once we have established liquidity on BSC, Polygon and ETH that the High-Yield Vault development will commence. It is essential to grab liquidity in multiple places across multiple blockchains to cast Pacific DeFi’s net wide and acquire users from all angles

CEX Listing Progress

  1. Short-listed a couple CEXs but we are still assessing the best approach and when would be an ideal time to list — ideally once our staking and farming is live and all IDO sellers are ‘flushed’ out so that circulating supply is minimal
  2. We would like circulating supply to be minimal (as a majority of public supply would be staked and farmed once live) as tokens in demand on the CEX are not part of DEX volume and liquidity, allowing for a large increase in token price if this scenario were to happen with increased CEX volume demand upon the listing
  3. In order to get on a tier 1–2 CEX, $PACIFIC daily volumes will need to increase from current levels — this volume increase usually comes from increased brand awareness, staking and farming being live, and developing key partnerships with other DeFi protocols within similar niches

Partnerships

  1. Once staking and farming is live on the BSC, we will then begin our partnership outreach and development program — specifically with other protocols within the BSC space

Marketing Progress

  1. CMC airdrop distribution will begin in about ~2 weeks

→ This will be our last major airdrop as our team believes in promoting our project via word of mouth from existing users via referral-based marketing, and rewarding our existing holders with additional tokens or cash prizes to spread the word

2. Daily Twitter updates, TG announcements/engagements, community prize giveaways — these giveaways help with brand exposure, as users comment #PACIFICDEFI, making it popular #on Twitter. We will do the same once staking/farming is out to create more buzz

3. Everyday we add 40–50 organic crypto followers on Twitter and Medium. This means that everyday we grow larger as a community and Pacific DeFi’s brand awareness spreads — this, combined with referral marketing via our giveaways will help us massively in our marketing efforts

4. Working with Flexe.io to promote Pacific DeFi on popular threads such as BitcoinTalk, Quora and CryptoTalk . This initiative started last week, and we will collect data over one-month to see if there has been high ROI on marketing dollars spent

5. Medium weekly reports: Everyday we get 20–30 new Medium followers that are organic and crypto-centric

6. We are working with AMBCrypto, Bitcoinist, CryptoPotato and CoinGape on PR articles that will be posted within the next week — these PR articles will be about Pacific DeFi, its roadmap plans and staking/farming programs

Product Updates

  1. PACIFIC and PACIFIC-BNB staking/farming on Pacific DeFi’s BSC platform will be live hopefully by 22nd-23rd October
  2. These BSC pools will run for 3 months and have 500k rewards for each pool (1mn in total rewards for 3 months) with a maximum staking limit of 5mn tokens per pool (10mn total max. staking/farming allocation)
  3. Polygon bridge is in development as well as staking and LP staking contracts on the Polygon blockchain to widen user-reach and also deepen liquidity

Current Community Stats:

Official Twitter: 61.3k followers

Official Telegram: 42.3k members

Contact us:

Official email address: info@pacific-defi.com