By Djibril Wachiye
It is an absolute honor and thrill to announce that I stepped into the role of CEO earlier this year. Having been a part of our journey in various capacities, I am truly humbled by the trust and confidence vested in me to propel our path forward into a new era of growth and innovation.
I would like to extend my heartfelt thanks to Alex for his unwavering dedication to Sphere and the remarkable work and sacrifices he has made throughout his tenure with us. He has been a great support to the project and worked closely with me during the transition when he stepped down in early January.
Taking over from Alex was no easy feat. He left big shoes to fill, but with your support, I am confident that nothing is unachievable. My commitment is to drive the business forward and continue to build on the solid foundation laid by my predecessors.
I want to highlight points you might already be aware of; Sphere is in a good place. Even though we launched during the bear market, we managed to run high-impact, successful IDOs before the official release of SXS. This shows the dedication and shared vision of our team.
We have proven our capability to support IDOs of all sizes. We will not stop here; we aim to scale up and increase the frequency of IDOs and while I have goals I’m tempted to share with you all, my experience has taught me to keep these ambitions within the team, at least for now.
Behind the scenes, we have built a solid team of eighteen people working every day to drive Sphere forward. You may have noticed an immense increase in our social media activity across all platforms since December last year. We’ve signed contracts with more IDOs than ever before. In the first quarter alone, we secured four projects and aim to double that in the second quarter. We have many exciting news that we’ll share at the start of next week, with the first announcement coming this Monday.
I’m aware that we haven’t hosted IDOs in the first quarter due to external factors. Usually, we sign contracts with projects and provide a tentative date, but the final decision on when to conduct a public raise is up to the projects themselves.
The uncertainty around IDOs is ending. We are set to host back-to-back IDOs from exciting projects with strong teams and amazing partners. Our refund policy will be in place for all of them.
Importantly, I cannot thank you, our community, enough for your unwavering support. Staking is at an all-time high. Just this afternoon, we reached 8.3M SXS, up from 7.8M SXS at the start of the week, and I’m excited to see where it will stand when you read this. Staking is on steroids, and we love it.
Your feedback has been loud and clear. We hear you and will continue to BUILD and onboard great IDOs.
While we often avoid discussing price, I’ll make an exception in this message. We are not where we would like to be in terms of token price, despite all other metrics being at all-time highs. I believe we are on the right track; it’s just that the market has temporarily shifted its focus to other sub-sectors. It’s encouraging to note that it would take very little buying pressure to triple our price!
We are also exploring unconventional strategies that my team and I have been developing. These are nearly ready, and we will begin experimenting with them in the coming weeks. Our goal is not only to enhance our product offerings but, more importantly, to rejuvenate our community.
With the market showing signs of recovery, more IDOs on the horizon, and exciting new developments underway, the only direction for us is upward. I am excited to embark on this journey with you.
LFG!
Djibril Wachiye
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