A Letter to Tweebaa Investors
Dear Tweebaa Family:
The past few weeks have been really momentous for the Tweebaa network, with so many events and developments, so let’s have a look at what’s been happening.
TWEE/TweeB listed on two cryptocurrencies exchanges
On October 27th, 2020 TWEE/TweeB were officially listed and tradeable on Asproex and VirgoX respectively. As a result of this, the price of both coins soon achieved a new high.
This is one of the most organic increases in price, with a considerable influx of users recorded, and an increased interest in TWEE and TweeB coins observed.
TWEE is the native token of the popular commerce and social media platform, Tweebaa, which creates opportunities for anyone with or without investment to increase their earnings by simply showcasing their skills. Combining social networking and earning commerce platforms, Tweebaa’s business model operates on blockchain technology, using its own exclusive currency to give everyone an opportunity to mine, earn, and turn their everyday activities into a substantial income.
TweeBuck is a DeFi-based coin by Tweebaa aimed to provide more decentralized financial services to Tweebaa’s users and its partners. Using Tweebaa’s existing community, TweeB will create something that is totally different and will reward all users, both depositors and borrowers.
Several ways are currently available to obtain the TweeB coin, including providing liquidity to the lending of TWEE on the TweeBuck platform, and also holding the TWEE coin in the desired wallet where a calculated daily interest is generated
Interest calculation rates can be found here rb.gy/mfug1x
TweeB interest rate
Some weeks back, Tweebaa announced a subsidy program that would give holders of the TWEE coin interest rates calculated by a specific formula.
The formula and the calculated amounts are already in place, however, due to incorrect and inaccurate data being received from BitMart, this process has been delayed. The team has been working tirelessly to rectify this and ensure all valid entries are accounted for.
It was planned to be distributed on 27th October 13:00 UTC to every investors’ VirgoX account. Tweebaa transferred all the interest to VirgoX 30 mins before the listing time. But, in the last 10 minute, the team members found a lot of inaccurate amounts and history records when compared with our own databases. Because of this, Tweebaa had to postpone the distribution and request the TWEE trading history from all users so that the information could be double-checked. That would enable the investigation to be completed quickly and accurately.
As a result of this, the distribution of TweeB interest has been delayed but we are working hard to ensure that it is released soon. We urge everyone to exercise patience while we continue to work on this. The delay in distribution is to ensure perpetrators do not infiltrate this platform and to ensure investors (you and us) remain safe from unwelcome external forces.
ChainSwap
The team has to postpone chain swap due to the same reason. Without verified data, it would be irresponsible to distribute any tokens to investors who purchased old TWEE or new TWEE. This was very frustrating and led some users to wonder whether Tweebaa was purposely holding the token and not proceeding with the distribution. We can assure you that this is not the case and that we are ensuring all data tallies, in order to avoid a repetition of September 4th.
September 4th, 2020 was a difficult day in the Tweebaa journey. Factors beyond our control negatively affected the market price of TWEE, plunging it to values that were simply unexplainable and unexpected. The Tweebaa team worked hard and implemented different features to quickly recover the situation, even buying back coins to ensure price stability. Unfortunately, these efforts proved fruitless at the time.
Seeing the TWEE price plummeting after achieving an ATH (all-time high) was difficult for everyone who is part of the Tweebaa community. It was a very low time but overcome by the sheer determination of the team and their loyalty to the community they have built. The new, positive position we find ourselves in today is testament to the honourable and moral commitment Tweebaa has to you all.
We have now implemented various updates and also a token swap, ensuring that a repetition of September 4th, 2020 does not happen.
Conclusion
We promised that all interest for the subsidy program and the chain swap will be distributed.
As we continue to work through this, we ask for your continued patience to allow us the time needed for the investigation and to ensure that the perpetrators do not cross over to the new platform. We hope that the steps we are taking to resolve this occurrence prove our commitment to our community and demonstrate that our only agenda is to move forward in a way that benefits everyone.
Please feel free to contact us with any inquires,
Email: love@tweebaa.com
