Someone wise or just tough, once said – Everyone has a plan until he gets punched in the face.
No worries, Verso is fine and doing well.
The past weekend was an intense and exciting time for us. Verso officially launched its public token offering via the TrustSwap launchpad. The event went better than anticipated.
How do we know?
Soon after the launchpad opened at 9 pm PST, our KYC (Know Your Customer) provider’s servers crashed. We had a contingency scenario in mind and planned for such an event, at least in theory. But the interest in Verso’s public token offering event was overwhelming, practically a deluge.
Which is funny because one can find such questions on Verso’s official Telegram Channel:
We believe crushing the KYC servers is enough of a proof that we have our marketing in place, perhaps even a little bit out of control, someone may argue. The problem was eventually resolved a few hours later by routing launchpad subscribers onto an alternative KYC provider.
Some of the moments that may have caused the ‘deluge’:
- CoinTelegraph spoke about the benefits of connecting DeFi and CeFi through Verso
- Yahoo Finance wrote about the financial industry’s access to DeFi, using Verso
- Feature on multiple Chinese media outlets, including Sohu.com, Huoxing.com as well as on popular Chinese video networks such as Youku and Bilibili
- An ‘AMA’ for our Vietnamese community and fans
We have our hands full for the upcoming weeks and beyond, including:
- An ‘AMA’ organised by the Ava Labs team (the company behind Avalanche)
- An ‘AMA’ for our China enthusiasts
- Upcoming ‘moonsheet’ on Mandy’s ICO Research
The general public and especially our community already recognises our vision of connecting DeFi with traditional finance. It is a challenging mission which requires a strong and experienced team.
According to Gregor Arn, Verso’s CEO, there are over 3,500 e-wallet providers worldwide. It is practically impossible to offer financial products and services from both CeFi and DeFi in such branched out and highly regulated space. While compliance issues may be taken care of, the unit economics of selling micros insurance products such as a quick $50 insurance policy acts prohibitively of making microfinance more inclusive towards underserved groups. Verso will be the digital town square, a decentralised meeting point between regulated finance providers who want to offer DeFi products to its existing user base or just want to quickly tap a larger user base for microfinance products.
We’re thrilled to have witnessed such large interest in the $VSO token offering. There are only a few days left until the official $VSO exchange listing. We extend our warm gratitude to our early backers and investors for lending their name and support to us as well as to our launching partners and yes, the best is yet to come.