Pacific DeFi — Weekly Report: Sept 20–27

Current Weekly Summary:

  1. We have listed on PancakeSwap with a price of $0.02, a $2mn USD fully diluted market cap. Our price quickly shot to $0.24 range and has retraced this week to $0.04 range, a $4mn USD fully diluted market cap
  2. The downward pressure on price is due to a number of factors:

→ IDO participants have fast vesting schedules. 20% of IDO participant holdings were unlocked on the token-generation-event (TGE), with linear vesting of 20% weekly. This is true with private sale participants also, with 10% unlocked on the TGE and 15% unlocked weekly. It is good to have fast vesting schedules for these participants as it allows users who aren’t long-term holders to cash-out and be replaced by long-term buyers looking to buy at discounted prices. The downside to this is sudden sell pressure as these participants cash out

→ Users who bought at inflated prices of $0.20 range are realising losses and are now selling at a discount

3. Price is range-bound currently, but there still will be some sell-pressure next 1–2 weeks as those IDO and private sale participants who do not wish to hold long-term claim their tokens

  1. UX/UI for App Homepage, Liquidity Pools, High-Yield Vaults have been drafted and completed
  2. The integration of the UX/UI of the App Homepage will be done this week and open for beta-testing for the next 1–2 weeks
  3. Staking and LP staking contracts for the PACIFIC and PACIFIC-BNB pools have been completed and will be open for beta-testing. During the beta-testing period, contracts will also be audited to insure maximum security
  4. The team will commence work on a Polygon bridge to expand our liquidity. Completion is likely to take 2 months for contracts to be fully developed and beta-tested before going live
  1. A number of CEXs have reached out to us this week to discuss potential listing opportunities — So far, we have shortlisted two candidates and look to see if we can make a deal in the next 1–2 weeks — this will help get us additional exposure + a new user-base of investors, likely increasing our current valuation
  2. The team is selective on certain CEXs because reputation is everything. We would ideally want to be on a tier 1–2 exchange but not a tier 3 CEX. Many exchanges claim to have large volumes but in reality its wash volume and bogus trading that make the bulk of it. Many CEXs also claim to have a large user-base, but when we compare actual volume and claimed user-base statistics, the numbers do not add up
  1. To bring our teams closer together, we have partnered with NonceVC to help with additional project financing, team strategy and connections within the crypto industry. Our team is extremely grateful to have them on-board and we’re looking forward to a fruitful partnership together
  1. The airdrop on CMC has been completed with over 400k+ adds to the watchlist. You can view us on CMC here: https://coinmarketcap.com/currencies/pacific-defi/

→ 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. We have used a couple of influencers on Twitter with mixed-results. However, we will continue to test different influencer engagements to see which ones are the most effective

3. Daily Twitter updates, and TG announcements/engagements will be continuing as it is important we are transparent and engaging to our community

4. Currently selecting YouTube influencers to create short videos on Pacific DeFi — we will release the link to one of the videos soon

  1. The team will operate two pools for the liquidity mining process: PACIFIC and PACIFIC-BNB. These pools will run for 2 months and distribute 1mn tokens initially
  2. The team will commence the development of a Polygon bridge and have staking and LP staking contracts on the Polygon blockchain to widen our user-reach and also deepen our liquidity
  3. Product focus is on high-yield fixed income vaults via auto-staking strategies for stablecoin and non-stablecoin deposits. These single token deposits allow for users to generate yields across high-grade DeFi protocols on the BSC, ETH, Polygon and Solana ecosystems
  4. A ‘Lending’ feature so users can deposit stablecoins and earn yield will also be developed. These stablecoins will be lent out in the high-yield vaults to generate higher stablecoin yields and increase leverage for non-stablecoin deposits (e.g. BNB)
  5. To deepen our liquidity pools, we will partner with other DEXs so that users are able to stake on these platforms to earn the 30mn additional $PACIFIC rewards out of the 100mn total token supply

Official Twitter: 55k followers

Official Telegram: 48.5k members

Contact us:

Official email address: info@pacific-defi.com

Pacific DeFi is a financial eco-system offering the best stablecoin and altcoin yields in #DeFi