Statement to the community regarding the latest Kucoin announcement

Dear Modefi Community,

I hope this finds you well. I wanted to take a moment to address the recent announcement from Kucoin regarding the upcoming delisting of MOD and provide you with an update on the situation. We understand that many of you have expressed concerns and uncertainties regarding this development, and I want to assure you that we are fully committed to the long-term success of our project.

Over the past weeks, we explored various remedies and had expected the scenario to be resolved favorably. Unfortunately, despite our best efforts, we were unable to reverse the decision. While this outcome is not what we had hoped for, there is a silver lining that we believe should be acknowledged.

It’s important to note that the bulk of our trading volume and liquidity has always resided on Uniswap. Currently, we have a strong liquidity to MC ratio. This ensures that the MOD token will remain highly liquid relative to its market capitalization on the decentralized exchange (DEX) market.

Modefi remains accessible on prominent decentralized networks like Ethereum, Polygon, Fantom, and BSC. This ensures uninterrupted trading and accessibility for our community, enabling our users to continue participating in the project’s ecosystem across multiple blockchain platforms. Most importantly keeping you in custody of your own tokens.

The Kucoin trading pair often experienced low volume and liquidity, making it susceptible to manipulation by malicious outside actors, such as pump-and-dump schemes. While it is technically possible to artificially inflate both volume and liquidity on a centralized exchange, doing so consistently requires significant resources. We believe that redirecting these resources to marketing and development efforts will serve us better in the long run.

This situation also presents us with an opportunity to reevaluate our strategies and make improvements. We are actively working on plans to enhance the frequency and quality of our communications with you. We understand that our communication has been lacking, and we apologize for any frustrations this may have caused. Our aim is to foster a transparent and open dialogue moving forward, so you feel informed and engaged throughout our journey.

Despite the challenges we face, we want to assure you that Modefi remains fully committed to our mission. We view this as an opportunity for a fresh start, allowing us to redirect our resources and focus on what truly matters — building a robust and innovative platform that empowers individuals in the crypto space.

Thank you for your unwavering support and understanding. We are confident that together, we will overcome these obstacles and continue our journey towards a successful future. Stay tuned for more updates as we progress.

Warm regards,

Ryan Lowe

CEO, Modefi