Measure Twice, Cut Once
It was with a heavy heart that we decided this week to reschedule our MVP launch to early March. It wasn’t a decision we took lightly, knowing full well that it would cause ripples of disappointment throughout our community.
As many people know we’ve been working closely with auditors at Hacken to ensure that the MVP is as secure as possible. Our decision to reschedule the launch is to allow the team at Hacken to work directly with our developers next week.
Chris, our security advisor previously explained, “At Paribus we have been paying attention to security since day one. Bear markets are for building and for taking the time to do things the right way, but security and especially safeguarding user funds is never a step to be overseen or compromised for the sake of delivery at any time.”
Although everyone, including the whole Paribus team, is eager to launch the MVP it’s important to understand the launch within the context of the present market conditions. The reality is that we’re still in a bear market and central banks have not yet indicated that they’re willing to stop raising rates in their ongoing battle against inflation.
The liquidity crunch that monetary tightening creates affects all markets, especially crypto. Without an influx of liquidity to markets it’s highly unlikely that the next bull run will begin, despite several YouTubers claiming the opposite.
While everyone enjoys the hopium of green candles, the reality of past cycles indicates that the present uptrend in prices is more likely to be a relief rally than a breakout. As such it’s probable that volatility will continue and prices will mostly chop sideways for a little bit longer.
Faced with the prospect of pushing hard to meet our anticipated launch date for the MVP or taking a little more time to allow the developers to work on it, we felt it was only right to reschedule. While we understand the strong desire to launch it, we’re also acutely aware of how important security is.
Our principles from day one have always been to prioritize the safety and security of user funds. Second to that is securing the longevity of the protocol which is why we’re placing such a strong emphasis on developing the governance aspect of Paribus as well.
As we’ve previously explained, our development team works on multiple elements and aspects of Paribus in parallel. While one part of the team will be working with Hacken on tightening and streamlining specific areas of the MVP, other parts will continue to work on aspects for future iterations.
One element of future developments which is still ongoing is the integration of synthetics into the subsequent versions of Paribus. So while the MVP will now launch in March rather than February our development of other areas still continues and the launch of future iterations remains unaffected by the launch date of the MVP.
For the team, we understand how situations like this occur and although it causes us a degree of disappointment it also comes with the territory of blockchain development. For our community, which is perhaps less familiar with the moving targets involved in this field, we understand the frustration they feel.
This is why we’ve invested so much time and effort into our communications with the community through our regular articles and AMA Town Halls. As we experience the journey of developing Paribus we’ve always wanted to bring as many of our community along as possible, explaining each step of the way.
We hope everyone understands why we’ve taken the decision to move the MVP launch and we truly thank you for your continued faith and support. It means the world to us. As the craftsman’s proverb goes, it’s better to measure twice and cut once.