As we head into the holiday season, new plan for the future to restore greatness for the community!
As i’m sure you’re all aware, unfortunately Squirrel hasn’t been doing so well past few months. Both price & TVL insured has been trending down and community seems to be getting less active in telegram/discord/twitter too. Price Protection launched afew weeks ago now and despite being same Nuts Farm (but with added price cover) only has 6% of NUTS staked compared to older Nuts Farm, which is disappointing adoption for its added use case.
So given all this I think its pretty clear something isn’t quite working right, and rather than continuing to bleed community some action should be taken. So I have decided to brainstorm ideas to pivot to a new direction with a rebrand. Obviously I still believe that the insurance use-case is strong & unique but unfortunately doesn’t seem to be working out under current tokenomics and with just me working on it (I think for a serious insurance DeFi project to attract more TVL requires a much larger team focused on partnerships & marketing) which is not my strength as a solo dev.
So new project will be created in the New Year, with a brand new unique concept around farming but will also be a hub for fun creativity Farm Games (where my strengths lie) including the popular FarmFomo, as well as the highly requested FarmGoo and many more in future. It will be a more fun marketable project latching onto momentum from memecoins like DOGE, I think you’ll be pleased with the rebrand and look forward to sharing details in short future.
I’m confident the redesigned project will have much stronger tokenomics at it’s core, tackling some of the problems with NUTS. Including: locked rewards, capped supply, built in buybacks & burns, as well as protocol liquidity. The rebrand will launch on BSC under a new ticker symbol, and of course your NUTS can be exchanged 1:1 for new token.
Obviously this doesn’t necessarily mean the end for Squirrel.Finance, I still believe the insurance use-case is strong, I just feel it would require another leader to reach its potential. So if you’re a dev in our community and want to run Squirrel then please reach out as it would be great for community to benefit from two projects! I will also try to talk to a similar insurance project to see if they want to takeover. This way the people who want to remain in insurance (NUTS) can still do, as well as people who want to exchange their nuts to new rebranded project can -pleasing everyone (hopefully 😅)
If you have any questions about anything let me know! I hope this has been clear enough to understand and hope that it makes sense that offering new direction is best outcome for community 🚀 I am excited to unveil the fresh concept for project and I think you’ll like it too, so stay tuned!