With great reluctance we hereby announce that LESS Network and all of its products will be discontinued at this stage. We will no longer actively pursue our dream of developing a full blown set of crypto trading tools. The reality is that since our initial launch of almost a year ago we have not succeeded in reaching the targets we have set and agreed upon within the team. The last miles on the technical development have been challenging and our funds are running out. We have spoken to our network and we have came to the conclusion that it is better to stop now while we still have something to offer to the current holders.
Besides the app and tooling development part and the challenge on the budget we also had to deal with a decline in volume and price of LESS token. Yes, this is the result of our choice to postpone new marketing effort not before we had news to announce about development progress. We can conclude now that this was not our best choice. We as a team learned from this decision and will evaluate this into detail for any future project we might launch.
So what next? Our first step is to withdraw all current liquidity and any side funds and pay out all the current holders taking their current amount of LESS tokens into account. This will be send to the corresponding wallets on BNB chain in BNB. We deliberately choose BNB chain to keep any transaction cost as minimal as we can.
We thank you for your support, ideas and suggestions, and yes, we also wanted this to end completely other than this.