On March 30th at 00:00 GMT $SAR had a fair token launch on Uniswap. There was no presale. 30 million $SAR were put up on sale. I am happy to announce that majority of tokens sold out within 5 minutes of the initial coin launch.
The first day trading volume was around $1,600,000 USD and Cerberus saw an increase in daily users by 3000%. The telegram community is at 460 and consistently climbing with 263 $SAR holders as I write this blog.
The current circulating supply is 30,000,000 tokens with a market cap of ~$1,200,000 USD at the price of $0.04 per token.
Why this response?
From what I understand, people have grown tired of the increasing centralisation of apps in the crypto community. This goes against the spirit of Blockchain and Coin Market Cap and Coingecko are the biggest apps here with no decentralised alternatives.
When I started Cerberus it was solely for the purpose of trading. As a front-end developer I was getting slowed down by these apps. For example, I wanted to be able to sort top 1000 coins based on 24 hour percentage gain but there was no option to do so on coingecko (It only allows for first 100). I wanted to view all the details like community score, github links, website, telegram (all the important information you would need) in one easy to view tab structure. Instead, I found myself wasting time viewing project details manually and with difficulty. I was surprised at how counterintuitive these platforms were and decided to build Cerberus.
My decision was further confirmed when I applied to list $SAR on Coingecko and CMC only to find out how bureaucratic and unfriendly the process is. An automated and decentralised process is not only a better solution to this but would be better for the future of crypto community.
In my eyes Coingecko and Coin Market Cap are web 2.0 and cerberus is web 3.0. It is already semi-decentralised as anyone can import coins directly from coingecko without needing any approval or going through a lengthy process. The crypto community has been waiting for Cerberus without even knowing it, and I attribute these reasons for the overwhelming response Saren has received.
Although the coin launch was a huge success, I did not anticipate this level of excitement so early on. My initial plan was to add liquidity in multiple rounds as I get more funds. I was trying to do a fair launch, but, in my attempt to give everyone an equal opportunity, I ended up creating a liquidity void. I am working hard on coming up with a solution to resolve this.
There are currently 3 concerns that have my primary focus:
- Implementing tokenomics and project governance policies
- Coingecko verification to prove legitimacy
- Scale up servers for increased traffic
I wish it did not come to this, but I need funds if I want to continue development on Saren. I will not dump the coins on the market in any case but there needs to be a solution as I have spent $40,000 USD of personal funds on initial liquidity, eth fees, server costs etc. Although I can continue developing this in my spare time, I want to speed up progress and release the final product in the coming months.
To do this, I need to raise funds and look for private investors. I will not be doing a private or public sale but instead look for strategic investors to raise enough funds for completion and help bring adoption to Cerberus. I feel like this is the only way which is good for the community, a private fund will be able to get $SAR on centralised exchanges and help with partnerships. The tokens will have a lock in and slow release to stop any surprise dilution.
- Find a single private investor to fund the development for 12 months.
- Finish Shill My Coins to help with community engagement by 30th of April.
- Start work on Decentralised Patreon - Due to censorship issues, it is important that we have a more community based Patreon free of censorship related concerns.
Note: For $SAR analytics, please visit the following links: