When we started BitDiamond we wrote down our principles. Nothing flashy, just some things we could check back on when things got tough. Or indeed when things went well! Crypto is high adrenaline, there are lots of distractions, lots of people think they know what should come next. Maybe they do. But if you don’t have a really clear idea of your OWN principles you can end up chasing every shiny thing you see… So, we wanted to be clear on our ours from the beginning. We came up with a lot, but boiled them down to just three.

We hadn’t checked in on them in a while. Things got busy. But when we did we realised we maybe weren’t hitting number three as well as we could. Hence this blog post. Let’s walk through our principles and then we can fill you in on exactly where we are.

Principles

There are lots of quotes out there on principles. I quite like the above one. So what are our princples:

  • To be the safest token we could possibly be.

This told us where to start. We would need a great audit so we were sure there were no mistakes or exploits hiding in our code. It means we needed to put as much USD in liquidity as we could afford. It meant we needed to load as many BTDMD into liquidity as we could. It means we won’t engage in any marketing that might see an unsustainable surge in price (resulting in a later crash). It means we pick our strategic partners carefully. We remember this one every day.

  • To always put holders first.

This seems obvious but not all tokens operate this way. Essentially, this means we will never pursue new holders at the expense of existing holders. Never. That can be applied in straightforward ways, for example not airdropping the token. That’s giving away something that someone has already paid something for. That’s not fair. It can also relate to how we spend our team funds. Marketing or roadmap? A new youtube partnership or a smart contract audit? Sometimes a course of action is obviously good for everyone. But if there is any doubt, existing holders come first.

  • To be the most transparent crypto in the world.

We do pretty well here I think, but this is the one that we realised needed some work. Part of meeting this one is our blog. Our ‘Staying SAFU’ and ‘Cryptobits’ articles are trying to give something back and also be transparent with our community. Another part is our roadmap where we set out our goals. But I reckon we can do more here in terms of letting people know exactly what the team is working on.

So here goes!

What are we doing?

First of all a caveat - this is what we are currently working on. It doesn’t mean these plans won’t change. If we see an opportunity, or if something doesn’t seem the right time, we will alter our plans. Also bear in mind that we are letting you in here. Most of this we won’t release to the market until we are SURE of when and how it will go live. So welcome in, but remember that caveat :).

Exchanges

We are in discussions with three exchanges at the moment. They are of varying sizes and the cost to list on them varies (from roughly $70K to about half of that). One thing that we need to get resolved before we list in the interaction with our tokenomics. We have a passive yield mechanism within the smart contract. When you hold at the exchange you are within the exchange’s smart contract, and your hot wallet will not receive this reward. That’s how things stand at the moment. One option for us is to exclude the exchange hot wallet altogether so at least the tokens don’t build up on the exchange. We aren’t keen on that, as we’d rather be more decentralised about this. Better for those tokens to find their way into liquidity. That’s the focus of our discussions and might take a while. Well, a while in crypto terms anyway :).

Marketing

We have a multi-release deal with a major influencer that will form the backbone of our marketing. Expect to see more in this space. (By the terms of our agreement we can’t say who). We have a marketing consultant who keeps us aware of good things to try alongside this strategy. Our intention is to stick to the long-term plan while keeping cash aside for mini-campaigns along the way.

Roadmap. Build build build

Keyoke is busy! We have the genesis NFT minting coming up and have advanced plans for five more community NFTs. These will form the basis of our community ranking. We have the following (in order from the lowest rank to the highest):

  • Protector
  • Leader
  • Champion
  • Hero
  • Legend

We’ll reveal more details on that as we go.

We have also made good progress on our phase 2 roadmap. This is the real deal people. Currently you hold a non-custodial staking token that is a store of value on BSC. In the not too distant future it will ALSO be a utility token you can use in the BitDiamond universe for the creation of NFTs, and a trading game that we think is unlike anything currently in crypto.

We want to say more about this but we don’t want the full concept out there too soon. There are always those who look to imitate (look at all the ‘diamond’ tokens that sprung up after we launched, for example). But we will share when we can.

More details on what we are doing when we can. Stay tuned, stay safe, and look after each other!