2021 end of year wrap up
This year has shown up like a stranger to your Christmas party. You were polite, they were rude. You were gracious, they took advantage. You provided food and drink, they ate it all and had the audacity to complain after. As we come to the close of a gauntlet style 2021, we reflect on some achievements and some of the challenges we have had to endure.
Whilst we achieved significant improvements to the security of our core code during 2021, we had some three major setbacks. The first 2 were devastating to the community and the team.
- Setback 1 – where around 920M XDN were minted as a result of a bug in the Bitcoin core software and sold on the open market.
- Setback 2 – where 2B XDN were stolen from our burn addresses and sold on the open market.
These exploits triggered a significant loss to our capital base and increased our circulatory supply by 3B. This caused the price of XDN to drop to the lowest levels seen in years, trading at sub 2 SATS for a significant period of time.
- Setback 3 – The third setback was when Bittrex removed the XDN/BTC pairing without notice. This caused the price to drop to sub 1 SAT with the availability of the XDN/USDT pair remaining on Bittrex. A single pairing has the potential to move higher volume levels with a net positive to the trading ecosystem of XDN.
Depending on your current XDN position, it has given an entry opportunity that is highly attractive to investors that have a longer term view on the project.
There is good news to report:
- New friends – We have made a number of new friends. Developers from coins banded together to help find the bug and once we had fixed it, helped other coins to overcome similar bugs in their software. This will help all of us move forward and to improve security of our systems.
- New team members – We have made exciting appointments to the Core team. King Davie has added a fresh face and approach as our Social Engineer. We have always battled to maintain a good social presence so King Davie is a welcome addition to the Core team. King Davie is also showing incredible foresight in molding our new roadmap for the next 3 years. Daniel, has also been added to the Core team and brings a wealth of knowledge and developments skills to help deliver our mobile apps.
- Social engagement – With the energy and ideas King Davie brings to the team, you should have already noticed a lot more activity on our socials.
- Development – if you are watching the commits on the Discord Github, you will notice a lot of work happening in the background. The code cleaning and updates is not the only thing going on. We have set up several new BSC farms/staking for our wrapped version of XDN. With growth for holders in the APR ranges between 6%-189%, we continue to press more content and new ways to say thank you to our community.
Heading into 2022, we have many things to look forward to, with new partners and initiatives in our headlights. We thank the community for being here when we needed help. Covid-19 still appears to be a nuisance affecting all of our lives. We are confident that 2022 will allow us to regroup and make XDN strong again. You will see some exciting initiatives along the journey, so please stay tuned.
Wishing you and your family a prosperous New Year.
The DigitalNote XDN Team
If you are keen to get in and help with the development of DigitalNote, please contact the team on our Discord chat.