Dear DAV Community,.
11 Sep 2019, 07:21
Dear DAV Community,
It should be no surprise that the DAV Foundation, like many blockchain projects, has been swimming upstream since the middle of last year. There were a number of factors that contributed to this, but the one that weighed the heaviest was the crypto winter and the tepid subsequent recovery. The negative impact on the Foundation’s treasury by the crypto crash can not be overstated.
The DAV vision has always been a long-term one; our plans assumed a timeline of up to a decade. Frustratingly, our runway was reduced to less than two years by the crypto winter. Given these circumstances, and in the interests of maximizing the chances of success of both the DAV network and its connected token, we have scaled back on operations.
Spending for development and marketing has been heavily curtailed. The team that remains continues discussions with the multinationals and automakers--our most current collaboration is with a technology group connected to one of the largest automakers in Germany--and work towards making the DAV network as accessible as possible to developers. Additionally, we will be offering small grants to developers who build projects for the DAV network.
Apart from the desire to see the DAV vision realized, we’d love to see all DAV token holders benefit from a second wind for the network.
We will be making announcements in this channel and via email as we continue with the work of the Foundation. As we pare down expenses and operate with reduced resources, team members will not be available to actively participate in this channel. As of now, the DAV Network Telegram Channel is set for announcements only.
While this situation is challenging, we feel this path offers us the best chance going forward. We very much still believe in the DAV vision and all of the common good that can come from it.
The DAV Team