DEVELOPMENT UPDATE — November 10, 2021

Dear PaybSapiens,
Here is another development update to keep the community in the loop about things happening behind the scenes.

Contract Deployment and Product Launch

In the last update, we mentioned the Ethereum chain congestion and long contract creation and deployment queue. Having six contracts to publish on Ethereum, in the past several days, our developers have been increasing gas fees to up to 0.5 ETH to get them confirmed, and so far 3 of them have been a success:
- The controller contract for the vault system
- 1NFT contracts

The remaining ones are:
- The strategy contract
- 2 contracts for vaults

To clarify, these contracts have to be created and broadcasted to the network successively, not altogether. Currently, we’re waiting for the 4th contract to get approved.

Token Burn date

We planned to carry out the token burn some days after the product launch. However, with the unexpected delay caused by the Ethereum chain congestion, token burn dates will be moved accordingly from the previous set date of 11/11.

Plan of Action

Once we publish all contracts on Ethereum and production (Test Website), we will:
- Start a short count-down to have an invite-only launch for our community
- Set a new date for the token burn
- Start marketing plans to increase exposure and market awareness.

Stay tuned. November is going to be an exciting month for PaybSapiens!

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