Yesterday, on May 10, we have unfortunately seen a dump in the price of Pulsar due to BSC congestion. Today, I would like to explain you what happened, and how we are planning to move on with our Project.
First things first; this dump was supposed to happen at some point, but it was not supposed to happen for at least 48 hours according to my calculations. This why I was constantly present in chat and telling people that I was buying back Pulsars whenever it hit $70. Under normal circumstances, If you control more than 10% of the market cap, it means that you have the power to control the price. This ratio in our first day was around 30%; thus, I was extremely confident about price stability and ensured it without any problems. On May 10, the market cap became $2kk and my buyback holdings were around $350k, which was still enough to hold a normal dump. However, I could not foresee the effects of a BSC congestion where people started panicking and blaming us. I have been blamed for rugging the project, trapping people in pools, not allowing the harvest function to work and even failing transactions deliberately so that I can steal gas fees… I have really tried hard to fight the fud and keep the price stable, but many new comers did not understand that the BSC congestion was not our fault and created a snowball effect for the dump. At this point, we had to let the market decide the price because spending all the buyback amount for the mindless panic that happened would have been a bad idea.
We knew that this would eventually happen. If you have a currency, but you do not have enough products spend it on, it is destined to plummet at some point, and we have never suggested otherwise that our token would live forever. And this is the reason we created a Plan B which is Beta Pulsar project. Our NFT market is not just about selling pretty looking Pulsar Stars in snow globes; these NFTs are connected to a smart contract audited by Techrate (see main page), and they function as presale for Beta Pulsar project. The rewards of each NFT is written on the gitbook NFT marketplace:
Therefore, our NFTs are functioning as a bridge between Pulsar and Beta Pulsar projects. The biggest advantage of this system is that it prevents the total destruction of Pulsar price because people know that it still has a value. This is why we gave up fighting the snowball selling because we knew that price would consolidate itself at a certain point, and this is exactly what happened when people started buying NFTs and helped burning the circulating supply of Pulsar.
We still hold $70k + buy back money in case up big dumps, and we allow the market to price Beta Pulsar now. Check here for our fee account; we guarantee that every single cent has been and will be used for buybacks:
0x466963B5D0a433Dd2A7868c46d89636F2ce15EDD (almost depleted)
When all the NFTs are sold, we will announce the date for Beta Pulsar liquidity and launch. People who bought NFTs will be able to press “claim” button on our web page to get their Beta Pulsar rewards immediately after we provided liquidity.
Beta Pulsar project will be an improved version of Pulsar with new features and deflationary mechanics. For example, we are currently coding a dynamic transfer fee feature that will take more fees from whales and less fees from small investors. We are also working on improved versions of harvest lock. Apart from deflationary mechanics, we are also developing a secondary marketplace for NFTs, and mini games. We will keep developing and adding such features to our layered projects whenever they are ready. Thus, we will make sure that each layer will be more interesting, long-lasting and profitable. Our final layer will come when we finish designing our big project in work, which I will not provide many details for the moment. The final layer will be self-sustaining because we have intentions to offer people a real product they can spend their tokens on. We are aware that our current system is still far from being self-sustaining, and we are working hard to change this fact and take our place among other self-sustaining projects like Bakeryswap and Pancakeswap.
I hope you will continue to support us in this journey, and we will achieve great things together.