To our community members
Hello, my fellow CPChain community members. I am Chengnian Long, founder, and CEO of CPChain. I have to apologise for the late update due to the heavy pressure on our research project in the university. I believe I can spend more time with our community members in the future so does our CTO Dr. Zhao and COO Mr. Shi.
Recently I strongly sensed the sluggish market and instability in our community. And this is my main reason to write this letter and share my own thoughts about this situation.
Firstly, I have to admit that the overall performance of the CPC value is very underwhelming, especially the dramatic drop in January.
I know our community is very disappointed with the price in the market. However, I have to tell you that our team is still working hard on this project including our operation, research, and commercial team. We are now at the very dawn of a global IoT revolution. Rather than being sacrificed in this battle, we must stay strong and we will survive and reshape the IoT data economy.
Our attitude to the recent performance of CPChain price
1, The main reason for the price drop comes from the general market downturn and the lack of confidence. Despite the existence of abundant projects in the field, we have to admit that the market situation is at the worst level ever. 99% of the projects face the recession caused by this wave of the downturn. Although we have done lots of concrete actions to prevent this situation as well as improving the liquidity, the price has not been moving as we expected. We are aware that the public is asking for more market-making but this will be a financial black hole as long as we’re in a bear market situation by consuming an unreasonable amount of funding and resources. We need to be wise enough to prevent ourselves from bidding with the market. It will be too risky to fulfill. What we believe is that we must put research and development of the project as our top priorities.
2, Our foundation will keep managing the liquidity of CPChain. Since the bear market started, we are always on our road to maintain the liquidity of CPChain in the secondary market and make sure that we can have sustainable transactions between different exchanges. I give you my word that we will stick to doing it.
In conclusion, I believe the blockchain industry is still in her infant stage with lots of uncertainties. Whoever gets through this stage is bound to have a bright future ahead of them. No matter how badly the general market sentiment is, I still firmly believe in the technology, the project, and our community.
We sincerely invite everyone in this community to stand with us at this critical moment. Trust us and give us space to develop and we will never let you down. Your patience will ultimately be paid off. Also, I’m pleased to share lots of updates with the community in November.
Dr. Chengnian Long
Founder & CEO