Welcome to the first BODAV2 Development Diary, where we will aim to provide comprehensive updates on project development and future design plans.
It has been quite the ride since BODAV2 launched! The growth in terms of new holders, trade volume and market value have been incredible! And we love seeing how the BODAV2 tokenomics are being tested in real-time. We honestly did not expect to have taken off as quickly as we have in the last month, but we definitely appreciate the position that we are in. Most of the credit to the success so far has to go out to you, the token holder, as without you here beside us we wouldn’t have a project to develop. We are grateful and truly thankful for every single token holder, as you are a part of the BODAV2 family and we truly appreciate it!
In this development diary, we will cover a few topics that have been mentioned a lot in the chat rooms over recent days.
For those who do not have the time to read the entire dev diary, we have provided a summary of events below;
*note: these events are always changing and more designs are being added, this is just a basic summary of what we know can be achieved as we do not want to give false promises to our community.
Completed events since 22nd September 2021 :
· Updated new contract address to all previously listed sites
· Launched Reward Tracker Website
· Submitted solidity file to Certik for Auditing.
· Partnered with SokuSwap
· Listed on FEGex
· First NFT for BODAV2 was produced
· Gained over 4000 token holders, along with new members in Telegram and Discord
· Reached $59 Million Marketcap
· Over $1.5 Million trade volume in 24hr period
· Digital Billboard ad in Times Square, New York City
Ongoing events for 2021 :
· Certik Audit completion
· Updating visual design of the main website
· Upgrade Reward Tracker Website to ReactNode to allow for web3 functions
· Add Manual Claim function to withdraw BUSD early
· Update API trackers on Reward Tracker website
· Add BUSD estimation calculator dashboard to Reward Tracker website
· Add BODAV2 logo to Trust Wallet
· Discuss Centralized Exchange option with community
· List on Indacoin
· Add Yield Farming and Pool Staking
· Lottery Game
· Governance token with protocol voting portal
· Token Minting Platform
· Token Locker Platform
· Manual Buy Back & Burn
· Continuous marketing campaigns
Future events for 2022:
· NFT platform
· NFT video game
· BODAV2 DEX
· BODAV2 Charting website
Certik Audit Progress
As discussed during AMA #8 on Sunday (https://youtu.be/JjvFspXfTbE) we have received the preliminary report from Certik Engineers. We have been informed of some aspects of our smart contract that could be changed to add to more security for the token. One of those recommendations is to have a governance token to allow holders more direct input when deciding on changes to the smart contract, such as changing the sell limiter or minimum requirement to earn BUSD dividends. We are in constant contact with Certik Engineers and are working together with them. We hope to have a final report before the end of November.
Updates to the Reward Tracker Website
We are aware that many new token holders want to know how to calculate an estimation for BUSD they could earn from their holdings. We are working on the estimations dashboard which will be hosted on our existing reward tracker website. (https://bodatoken.app).
As mentioned in AMA #8 and in the chat rooms, the estimation is complex as we have not created a simple single reward system. One example of a variable is the 6% BUSD rewards from buys and 13% BUSD rewards from sells, which has to be factored in and will obviously vary from day to day if during a 24 hr period there are more buys than sells or vice versa. In an ideal world, there would be both equal amounts of buy and sells to make this process much easier for our developers. Trading volume adds another variable to the estimations. As trade volume changes every single day, this variable is not constant. An additional variable will shift the reward ratio per token when a burn is conducted. We are in new and uncharted territory with BODAV2 and our devs are working 7 days a week to build a reward dashboard that provides token holders with the right information. The last thing we want to do is create false data and provide incorrect information to new investors.
A manual claim button will be added to the Reward Tracker website. This will allow holders to claim their BUSD early, for a very small gas fee as per the BSC Network costs.
The Yield Farming and Pool Staking will be hosted on the Rewards Tracker website. This will require the upgrade to ReactNode, which is currently in progress. This upgrade will allow the website to interface with technology such as Web3 applications, which is going to be the future of crypto.
Updates to Main Website
We are aware of the feedback from community members that the main BODAV2 website needs a better look. We are working on giving the website a new look and feel, without going too far that we cause confusion for existing community members who revisit the website.
We did reach out to a marketing agency that was prepared to provide a quote for website and graphics works, however, they stopped responding. Sometimes in the crypto world, not everything is as simple as the real-life business world. We are always vigilant as the crypto space is unfortunately full of people who want to take advantage of you. We take care to do our due diligence before working with cryptocurrency marketing teams and providers before any payment is made. As many of you may already have seen, there are 100s of users who join Telegram offering promotional services. Many of whom end up just being scammers.
Marketing is Constant
As mentioned above, we take care to ensure that marketing is done properly and securely. There are many ways to market a cryptocurrency token, but not all of those offers are legitimate. We have ads running all the time on Facebook, Coinzilla and PooCoin charts. We have worked with a few Twitter influencers who we know we can trust and we continue to work with them. Recently many would have seen the billboard ad in Times Square, New York City. Press Releases have been circulated globally, with recent outlets such as Crypto Daily, BSC News, Bitcoin Insider and Yahoo! Finance publishing these articles.
Our Marketing strategy and campaigns do not stop. We are always working on marketing and paid promotions, along with collaborations and exchange listings. We believe it is better for the long term survival to do marketing on a regular basis as opposed to a single “shotgun blast campaign” where it only happens once then never happens again. This strategy can also help us during slow market periods. Market sentiment is a key factor in why investors want to buy or sell a token. If the Bitcoin market were to crash today it would create depression across all cryptocurrency markets, and we would have to adjust our marketing style to combat those changes in the market environment. Everything we do is calculated and planned. We are confident with the knowledge we have gained since 2016 in the crypto space, and riding through the bear market of 2019 where Bitcoin fell to a low of $3,000, that we have what it takes to keep BODAV2 going for the long term.
Trust Wallet Logo
Trust Wallet has requirements to upload a token logo. It would appear that their requirement has changed to 5000 token holders. There is a fee of roughly 5 BNB, which is non-refundable, that needs to be paid when applying for a token logo to be uploaded to their app. We do not want to risk sending the application for the BODAV2 logo to appear on Trust Wallet, only to get rejected and lose the non-refundable fee. As of writing this, we are at 4600 holders. We are very close to the 5000 holder mark!
Centralized Exchange Listing
As discussed on AMA #8 we have been in talks with CoinTiger regarding a listing proposal. This will be covered in a separate medium blog post. The community must be aware of both pros and cons of listing on an exchange. A vote will need to be conducted for holders to have their input before we finalize any deals with the exchange.
We are aware that many members are looking at Indacoin and want BODAV2 to be listed. We are in the process of applying for a listing on Indacoin. The option to purchase tokens directly with Fiat currency using Debit or Credit Card is a great opportunity for BODAV2. We encourage holders to do their own research and look at the associated fees when using any debit or credit card payment system. Often high payment processing fees are incurred and a cash advance purchase on which your bank will charge high interest.
Manual Buy Back and Burn
Another topic that was discussed during AMA #8. The Manual Buy Back & Burn will occur in December at this stage. As mentioned in the AMA, if the trading volume grows we can do these on a monthly basis.
The burning of supply will help to create long term value for the token as well as reduce the ratio of dividends per token share, therefore increasing the BUSD reward you receive per token share. Long term value requires patience. Many existing holders who have held BODAV2 for the last month are very aware of how rewarding it is to be patient. We encourage all holders to look at the long term prospects of BODAV2 and zoom out when looking at the charts. Being short-sighted on any cryptocurrency token often leads to losses in the long term.
Future Developments 2022
NFT platform and NFT Video Game is a huge project that we are excited to take on. The technology isn’t quite there for a full-function Video Game with NFT integration, however, we are in talks with a company that have created a Web3 cloud-based application that seems to be promising. As for the NFT platform, we need to find a fully qualified developer who is experienced in this field. NFTs are still new to even the most experienced developer and we want to make sure we do it right.
A BODAV2 Swap DEX is in the pipeline. We want to complete our Yield Farm and Pool Staking first before moving to that stage.
BODAV2 charting website is in the design phase. This would be nice to pair alongside the DEX. The charting website can be similar to that of Poocoin, Bogged, Dextools or other charts that exist.
Our team is working 7 days a week on development behind the scenes. As the workload increases, the time spent in general chat rooms will be less to allow our team members to focus more time on important projects. We understand that many new faces have lots and lots of questions to ask.
We encourage everyone to read our Greenpaper (aka. Whitepaper) and to watch our AMA #8. There are FAQs (https://bodatoken.org/#faq) on our main website to help people with common issues, most of which seem to occur with Trust Wallet users. Many of the issues concerning buying and selling are listed on the FAQs page. While we understand that people ask questions in chat because they want a quick response, please understand that we have written the Whitepaper document, FAQs page, and created YouTube video tutorials because we get the same questions 100 times a day. And whenever a team member has to stop their work to answer the same question, it takes time away from the BODAV2 development projects.
We appreciate those in the community who offer a helping hand to every new person who enters the Telegram or Discord. It really goes a long way when BODAV2 community members can assist new members. We are truly grateful to have a strong supportive community!
As always, if you have not already, please follow our social media accounts.
If you are on Telegram, please join the Alerts Channel to keep up-to-date with all the important announcements — https://t.me/BODAalert
If you are on Discord, there is an announcement channel at the top of the server menu. https://discord.gg/XMF4UctSnv
BODAV2 Twitter — https://twitter.com/BodaToken
BODAV2 Facebook — https://www.facebook.com/BodaToken/
BODAV2 Reddit — https://www.reddit.com/r/bodacoin/
BODAV2 YouTube — https://www.youtube.com/channel/UCZA6agzb8YjBvPj-T8EVijA