PokPok Protocol: Closing Statement
PokPok was founded in October 2023 with minimal funding and a big ambition: to build something genuinely new and impactful in DeFi Options.
Over the past two years, we have educated hundreds of new options traders through our innovative and engaging protocol, and thousands of readers through our weekly trading newsletters.
We built in the open, grew a community we are deeply proud of, and took every opportunity to listen to feedback, iterate on the product, and give value back to our community.
Although our product experienced great moments, the team has not seen sufficient growth traction that would enable us to build a scalable product for the long term.
It is with a heavy heart that we regret to announce PokPok will not be able to sustain future development.
PokPok has always been a community-first project.
To everyone who believed in the vision and supported us, thank you.
We have always done right by our community, and so, we would want to responsibly wind down operations and give everyone a smooth transition out of their positions where possible:
- Any user currently staking $PEGG for xPEGG can now withdraw with zero penalties.
- Penalty-free ETH withdrawals from the CTDA vault.
- The team currently holds 84.5%+ of $CTDA & 40%+ of $PEGG.
- Trades on the protocol will stop on 01 February.
- Unfortunately, we will not be able to launch $POK.
The core team is staying together. We’ll be back stronger, with the valuable lessons learned and conviction intact. We hope to have your continued support when that time comes.
If there are VCs/ investors who want to be a part of our future successes, please contact @joshu_sx.
Thank you to our team, loyal community members, users, early investors, and partners for the opportunity.
For the last time.
Cluck cluck, make money!🐔
