Addressing the Banger Games Situation and Enhancing User Protection
Our journey together faced a significant challenge due to the Banger Games situation. It’s essential to address this directly, learn from it, and strengthen our community.
In late 2021, many of you contributed a total of $248,000 to the Banger Games sale, an early-stage round with high hopes and expectations. However, the unfolding of events was far from what any of us anticipated. The project founders diverged drastically from their initial promises, leading to a substantial devaluation of the tokens and leaving us in a precarious situation.
We understand the frustration and disappointment this has caused. As Superlauncher, we stand by our commitment to our community. While we couldn’t offer refunds due to the nature of the early-stage funding, we are not stepping back from supporting you. We are introducing a compensation plan, where $248,000 will be disbursed through LAUNCH tokens. Once the LAUNCH token reaches the price of $1, each of the 900+ contributors to the Banger Games sale will be able to claim their share from the claim contract. This is our way of showing gratitude for your trust and support and why we’ve kept a large portion of supply as reserves.
Learning from this experience, we are implementing robust changes to our platform. Going forward, we will not engage with projects requiring funds before their Token Generation Event (TGE). We are introducing a new user protection mechanism, where all funds and tokens will be held in escrow until the project lists its token. Post-TGE, you will also have an insurance option to exercise, ensuring greater security and peace of mind.
We realize this has been a point of contention and concern. While we can’t change the past, we are committed to rebuilding trust and strengthening our bond with each of you. This compensation plan is a step towards that goal, and we hope it resonates with our shared values of resilience and community support.
Looking ahead, we have several exciting developments in the pipeline. In our forthcoming communications, we will delve into the details of the user protection mechanisms, insurance policies, and allocation mechanics. Additionally, we are thrilled to announce our loyalty program, which will reward past contributors to Superlauncher sales. As mentioned, we are preparing for a brand-new website reveal, a testament to our continuous growth and evolution.
In these trying times, your support and belief in Superlauncher are invaluable. We urge you to stay positive and join us in embracing the new changes and opportunities ahead. Together, we can turn challenges into stepping stones for a stronger, more secure future.
Thank you for being a vital part of the Superlauncher community. Your trust, patience, and support are the bedrock of our collective success.
SuperLauncher is an investment DAO that facilitates mass participation in early stage (Token Sales) & listed (OTC) ventures. We power flexible and decentralized management of capital across >20 EVMs. Headquartered on zkSync Era.