eFIN Rises From the Ashes
The cryptocurrency ecosystem, which started over a decade ago, is still under constant development. This stage of experimenting has seen the arrival of several new projects, whose aim is to build robust ecosystems that add unique value to the industry. However, not every project is able to live up to the competition or current market, and often fail to deliver what is promised. Therefore, it is almost impossible to regain a community’s trust and to come back stronger than ever. There is an exception, eFIN is achieving this colossal task, and is rising from the ashes with better functionalities and services. Originally developed by the makers of TokenPay, eFIN was destined to become the next best thing in crypto, having over $1 million US dollars spent on the eFIN Dex alone. The project was seemingly ahead of its time and wasn’t being adopted at the required pace needed to be successful.
Due to the slow rate of adoption, the investors and owners could not keep the project afloat, the problem being compounded by excessive spending and constant disputes between the owners. The good news is that the eFIN downhill spiral has become a thing of the past, and is now ready to launch under new management with a fresh perspective and backed by solid partnerships.
What Caused the Downfall of eFIN?
eFIN was one of the most promising projects in the crypto industry because of the unique and robust Decentralized Exchange it was proposing. One of the most enticing features which eFIN offered was eFIN memberships, which were sold to most TokenPay holders and external investors to help raise the initial investment.
The memberships were designed with the goal of selling memberships rather than selling the coin itself. Furthermore, the memberships were incentivized by offering eFIN coins based on membership tiers and promising a percentage of DEX collection fees, airdrops, etc.
However, as the Dex was relatively new, it was only used by ecosystem traders and investors, which was not enough to turn a profit. Also, during this time, the two owners of the project had disagreements, which led to the disintegration of the eFIN ecosystem, its products ending up divided between the two. As a last ditch effort to save eFIN, one of the owners introduced a new product eFIN swap aggregator, which unfortunately did not gain traction despite being an exceptional product at the time.
Adding to that list, eFIN could not deliver the promises it made to the community due to insufficient funding. As anyone can imagine, this news wasn’t taken lightly by the investors or the community. The social media admins and the project owners were flooded with complaints and even death threats marking the darkest hour for the eFIN project. However, as they say, eFIN has no other way to go but up.
eFIN Makes a Recovery
The saving grace for eFIN came in the form of a community member who was personally invested in the project through memberships and took matters into his own hands. Az was an active community member who was vocal about his support for eFIN. After months of discussions, Az, along with a few more like-minded eFIN coin holders, decided to purchase the eFIN products with the goal of resurrecting the eFIN project.
The eFIN project was reborn, bringing all eFIN products and social media channels containing the existing community members under the same ecosystem. The work was far from done as the tedious task of bringing the project back to life was going to be extremely challenging. After a year of constant efforts and the formation of the company, DexTech AG, eFIN was finally revived and back on track.
Now the eFIN ecosystem is being completely revamped by the new team, being comprised of a Dex, a wallet with a BSC bridge and several other products including an upgraded eFIN Hybrid Swap Aggregator and eFIN Mobile Wallet.
eFIN still has a long way to go, starting with gaining back the trust of its community, and ensuring that eFIN will not succumb to any challenges in the future. eFIN is achieving this by building solid foundations, having several partnerships with significant crypto players and also the Ten31 ecosystem partners such as NIMIQ, Zilliqa, Litecoin, Salamantex and more.
Ten31 purchased a 13% stake in DexTech AG, and the list of shareholders is gradually increasing. eFIN also partnered with LunaPR, an award winning marketing agency specializing in crypto and blockchain projects. Moving ahead, LunaPR will ensure that eFIN puts the right foot forward and is not prone to any scrutiny in the future.