Loom Network Revamp 2021 Q2

This article was first published on Loom Network - Medium

Loom Network Revamp 2021 Q2

Loom Network 2021 Q2 Revamp

Business Development

We’ve just completed another funding round with private investors, the new capital that was raised in this round will allow us to commit more resources to building out our blockchain tech. Our investors in this round have made it clear that they want Loom Network to focus on building infrastructure, and to secure new technical and strategic partnerships.

We’ve also started expanding our Marketing and Community management team. Our first hire is a community manager that we’re on-boarding today! And we’ll have a new marketing expert on-boarded in the next couple of weeks. We’ll be reinvesting in this team significantly over the next few months in order to expand our social media presence.

With our new investment team on board tokenomics and community engagement have become top priorities. The community has been eagerly waiting for us to publish a timeline, so in the rest of this article we’re going to break things down by quarter, keep in mind this is a tentative timeline.

2021 Q1 Deliverables

Token Swap

LOOM Token Swap

We announced the deployment of the new LOOM token contract at the beginning of February. Later that month, Upbit became the first exchange to support the new LOOM token, then in March they were joined by Bithumb, Binance, and CoinEx.

This month we’ve also swapped over all the LOOM previously deposited to our Basechain network, and enabled staking of new LOOM tokens on Basechain.

LOOM is listed on a lot of exchanges, so we expected it would take a while to get all of them to support the new token. Overall, the swap is progressing well, though we are aware of some issues with token holders sending the wrong version of LOOM to various exchanges, please keep an eye on the ...

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Loom Network - Medium

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