To all Gauntlet ESport Masternode owners and GAU coin purchasers, we would like to communicate a timely and very important announcement relating to our trading exchange partner Crex24. The Gauntlet Project is quiet a large project and requires specific amounts of funds in various stages to continue development to ensure that our objectives are met.
Trading at Crex24 has seen a somewhat downward spiral in recent weeks and this we believe is down to trading bots and quick reward offloads from some masternode owners. We hold free trading in high regard here at Gauntlet however not at the expense of the project. Gauntlet needs to raise funds to complete the next stage of the project and to continue to do so until our Beta launch.
Gauntlet ESport cannot deliver the project if it has no funds to pay additional software developers and other associated skilled individuals. With all the bots and dampers on the exchange we weren’t able to raise sufficient funds to sell bigger amounts of GAU coin since the ending of Phase 1. We understand that we made an early mistake of getting listed on Crex24 too soon which was fueled by our eagerness to show the community that we were delivering on our objectives according to our roadmap.
Our coin now trades at between 80 and 130 sats most of the time and perhaps this is very good for traders and for those who wish to accumulate coins, but it is really hurting the project going forward so we want everybody to understand our position before we come to our next point.
In order to combat this scenario we are going to voluntarily get delisted from Crex24 and this we feel may not be a favorable move in certain people’s eyes, but as discussed above, we really need people to understand what we were saying above. This move is about positioning Gauntlet ESport to becoming a sought after gaming platform with a high in-demand crypto coin and related gaming and payment services.
So we will instruct Crex24 to delist the GAU asset from their trading platform today. We understand that this may take up to a week for removal however it will give people time to mobilize whatever coins they have on there and allow the bots and reward sellers sufficient time to tidy up their portfolios. We will in future begin trading on larger exchanges with much higher volumes than Crex24. So coin holders hold, buyers go through our OTC purchase channel on Vault here https://my.vault.investments/coins/gau/coin-packs/ or contact our CTO username Fury#7432 on our Discord sever.
This move is all about bringing the Gauntlet ESport project to where we want it to be. It is in no way aimed at stifling our stakeholders, masternode owners or interested parties. To put it very simply, the more funds we have and the quicker we get them the faster we can build our project and launch our beta test phase. We believe this will excite gamers from all over the world and we believe our coin price will be positively affected by this.
Thank you everybody for understanding. We are giving 100% to this project all the time and we believe this adjustment will bring us to where we want to be. Exchange trading will re-commence once we are at our BETA phase which will now be pushed out to Q1 of 2021.
Thank you for reading.
Gauntlet ESport Team