We hope you are all doing well. This is an article we've pondered about writing for quite some time and feel it is something needed. There has been a constant stream of negativity within the Soferox project almost since the project started. We want to enlighten everyone just what this means and what this does to the health of a project and its members.
Firstly constant negativity really takes a toll on all of us working on the project. This is something we are constantly pouring time, resources, efforts into and to see every day some belittling, bad-mouthing, and making accusations with no facts is really discouraging, but we have always risen above and turned the other cheek. This isn't to say we can't take constructive criticism. It actually means the opposite. We welcome advice from people, but when you make a criticizing statement it would be good to also recommend a solution, or recommend anything really. We see a constant stream of the same people making complaints, but when we ask them to work with us to resolve the issue they go silent and a few days later make the same complaint and we again ask them what they would do and still nothing. So by all means you as our community are welcome to point out things you think we can do better, but remember this is a community effort, so we would also expect if you think think something is wrong, you should also be able to recommend what you think is right.
Secondly is many people don't realize how much the crypto crash affected projects. It has been reported that 80% of projects started before the crash have failed. That means that 80% of crypto funds from 2017 went to nothing. Soferox was lucky enough to recognize this potential crash and prepare for it, but part of this preparation was having to pause some development to allow for things to recovery as people were still acting like BTC was worth 20k when it was less than half that. This wasn't a sign of weakness, but a sign of wisdom. We knew we needed help with project, but had limited funds and didn't want to waste them during a time when crypto price evaluation was completely off market and way over priced. Your standard dev was wanting like 200/hr and exchange listings were around 30k USD.
This isn't to say you guys are lucky or anything. It is our responsibility to keep the project alive and we owe it to our community to do so. We are proud to say we aren't in that dead pool of 80% and I hope everyone who is with SFX feels a sense of accomplishment that you aren't holding coins for a dead non-responsive project.
Third thing is to explain the life cycle of any project. This can apply to almost any business, industry, and not just crypto. Projects start out with a timeline and expected goals. When NOTHING unexpected happens 9/10 those projects finish on time. But crypto was not lucky. They were hit with so much in a matter of a few months.
Lets recap some of those things:
- The SEC coming down on projects.
- The overwhelming amount of scams and hacks taking place.
- The hyper-inflation of Bitcoin
- The subsequent crash of Bitcoin and ALL coins.
- Exchanges extorting all projects for insane amounts of money.
- Developers demanding insane rates with little to no basis for their fees.
- Being a Non ERC20 coin (something that saved us actually).
When you add all these things together its no surprise 80% of projects that existed died. Though Soferox a small project with limited resources and people managed to push through all these hardships, which was no easy task. It was not easy to getting approval from SEC, it was not easy to stay accredited and safe with all the bad actors, our main source of funds was getting hyper-inflated and then all our crypto suffered over a 75% value loss. Yet SFX still remains. This is something we as a project and community should be proud of. But because of all this yes it causes delays and yes we have to post pone things for a little while. But we revamped things back up in January and since have followed through and EVERY SINGLE PROMISE.
Also we had internal things to resolve too. Changing algos, coin swaps, new sites. So its not like we haven't had our share of things to do too. You as a community had the responsibility and task of being patient and respecting that we were doing what was best for project and your holdings.
Now we are working on exchange listing and even though Soferox has accomplished so much it is easier to focus on the negative. Also when potential investors come into our channel, or read this forum its mostly very negative and so why would someone want to invest. All this negativity is doing is making it that much harder for us to market our coin and gain traction. Also bear in mind we were not an ERC20 and did not do things like everyone else (which is partly why we survived the crash and others didn't).
So lets really work as a community to bring SFX into a new light with the upcoming listing. Lets spend time promoting all that we have accomplished, all that we have overcome, all that we have SURVIVED.
All this being said please remember to support your project leaders, give them words of encouragement, question what they do, but with logical and respectful arguments. We welcome recommendations, we welcome advice, we welcome help. This is a community project and only if we work as a community will we succeed.
Long live Soferox and her Community.
-The Soferox Team