GovWorld TGE Postponed
Dear Governors,
After consultations with our advisors and in light of recent market conditions, we’ve decided to postpone our TGE. We’re not taking this decision lightly, but we do believe it is the right one for our project, investors and community.
Broader crypto markets are heavily correlated with the price of Bitcoin, and the ups and downs of crypto’s juggernaut are reflected in the prices of almost every other crypto asset. How exactly Bitcoin impacts other assets, or whether other assets impact Bitcoin, is largely irrelevant — when one moves, the others follow.
We’ve been monitoring the market closely over the last 24 hours in the lead-up to our scheduled TGE. With crypto markets where they are we felt the best thing would be to postpone our token launch until the market stabilizes. Had we launched during a market crash, the price of $GOV would almost certainly suffer — and as a TGE is a significant event in the life of any project we want to be sure that it proceeds without a hitch.
Token price is not something that we normally concern ourselves with. We believe that if we deliver on our whitepaper and build the best possible protocol we can, the market will naturally recognize our value. In this case, however, we’ve taken a proactive decision to protect GovWorld and our investors against external market forces.
Our decision to delay our TGE doesn’t change anything about what we’re working to deliver. We’re still busy building, and those who have participated in our seed, private and public sales will still receive their tokens. We’re hoping that this downturn stabilizes quickly so that we can get back on track to delivering a GovWorld we’re all proud of.
We’re going to continue to monitor the market closely, and we hope that we can announce a new date for our TGE soon. In the meantime, work on GovWorld won’t stop for a moment. We’re looking forward to sharing more exciting updates about the project soon and to getting a new token launch date locked in.
Our Telegram community channel is always open, and we’ll be there to answer any questions you may have about this decision.
Finally, we’d like to thank you all for your understanding and support. We’ve got an incredibly strong community, and this decision was taken for you. Thank you, and keep Governing.
The GovWorld Team 🌍
