With the abundance of blockchain-based projects and crowdfunding campaigns, it’s quite rare for the crypto industry to witness comebacks from projects that were once pushed into the negative lime light.
One of the most prominent examples of such comeback is, by all means, Ethereum which has once near missed bankruptcy, then experienced an unprecedented pump, and then survived The DAO collapse.
Another example, may be not as prominent as Ethereum, is Matchpool, the first community and incentive driven social network built on top of the Ethereum blockchain.What Was It All About
Matchpool has agitated a lion’s share of crypto community by announcing its plans to develop a working mixture of Slack, Facebook and Online Dating Apps using its ERC20 token, the Guppy (GUP). The project’s crowdfunding campaign was a tremendous success and brought almost $6 million to the team in just 33 hours.
Shortly after the crowdfunding campaign the lead developer of the project suddenly left, accusing the company CEO of unofficially moving the crowdfund money, exchanging $1.7 million worth of Ethers for Bitcoin.
Yonathan Ben Shimon, the CEO, on his part, stated that the move was about hedging against volatility risks with Ethereum, and, moreover, that the exchanging was outlined in the plan of operations that the lead developer was well aware of. Nevertheless, the community at the time was troubled, and the story even made it to mainstream media.
But, as it turned out, the future was not dubious whatsoever, and the work on the project continued as scheduled. Guppies, Matchpool’s native tokens, that will be used inside the social platform, remained tradable on exchanges and managed to accumulate liquidity with new investors.What’s On the Table Now
After several months of hard work, Matchpool has just announced it’s first release of the Alpha. The Alpha features a whole new look and feel to the product....