Greetings to the Angle team,
I’m back to ask the team a few questions as a token holder, hoping this won’t be the last time I participate in this forum.
The truth is, my interest in this project is fading for several reasons that go far beyond the token dumping that occurred shortly after the project’s launch.
The fact is, the team failed to build the protocol they set out to do. Liquity did (albeit on the second attempt), and they did so brilliantly, through their V2.
Having failed to achieve their initial goal, the team transformed the protocol into a yield platform, introducing USD yield in addition to EUR yield, which was clearly necessary for PMF.
Several integrations were announced that would catalyze increased liquidity in the protocol (the argument used for introducing the buyback system), but TVL has seen little or no change.
Marketing is practically non-existent. You haven’t taken advantage of the growing narrative of the dollar’s decline to sell EUR yield, you haven’t reinforced your integrations, you haven’t reinforced deposit profitability, and your tweets are infrequent. Tweets should be daily, and you haven’t even shared the video of Guillaume’s presentation at the Stable Summit. Forum interventions are practically non-existent, and forum responses are late.
If this is the dynamism of your marketing, I question how dynamic the ongoing work is regarding new integrations and new ideas for expanding the protocol. I have serious doubts that there is any serious focus on developing this protocol.
To be brutally honest, this is my interpretation of the story. During the Angle protocol development process, the team developed a genuine product, now called Merkle, which was interesting for your VC and the team, but they quickly made it independent of Angle, which, in my view, is disrespectful to the protocol’s token holders (keep in mind that this product was developed to support the expansion of the Angle Protocol). Realizing Merkle’s PMF, the team redirected most of its intellectual and operational resources to Merkle, relegating the Angle product to the background.
I attended Guillaume Nervo’s talk at Stable Summit, and his entire presentation didn’t even use Angle Money’s graphic image; it was presented using Merkle’s corporate image. Need I say more?
What is being done to expand the protocol?
Does Angle have a future, or is it slowly being phased out?
What are the future projects?
What is the differentiating element under development?
What are the ongoing activities?
What are they doing to improve marketing?
You mentioned the FX market; what are the developments?
They mentioned expanding the protocol to alternative VMs. Is there any development?
The team has transformed the protocol into a yield platform. Are there only opportunities in EUR and USD? Nothing else?
Not even ETH?
The protocol has one of the best analytics pages I know of, but it lacks a count of tokens acquired through the buyback system. When will it be included in the analysis?
Is the sudden implementation of the buyback system for the benefit of token holders, or is it a token price defense strategy to facilitate the exit of VCs?
I’m seriously concerned about my investment in the protocol and would like some answers. The community deserves answers.
Thank you for your attention,
Pedro Lopes.