Traxia, a project that was previously associated with Cardano, has now officially closed permanently. They’re going to request that the token (TM2, on Binance Chain) is delisted. For details see the Telegram group.
Ugh but thanks!
anyone got more infos about that? im not in theire telegram group.
I’m sorry for the bad news.
Is there something specific you’d like to know?
well the reason why project closed. did they run out of money?
They actually kept going for some time after running out of money. I’ll cut and paste some from the TG announcement.
We are living in unprecedented times, companies around the world from SMEs to Fortune 500 companies rely on government and central bank support.
As communicated previously, the Traxia project struggled heavily throughout 2019. An attempt to save the project by shifting the underlying chain from Ethereum to Binance and the Binance DEX didn’t result in the planned success and outcome.
In combination with the Coronavirus resulting in a severe shock in global life and business performances, a young project such as Traxia is even more affected by such market conditions.
Today we unfortunately and sadly have to announce to you that our previous efforts to save the project didn’t bear any fruits and both Bruno and I will stop supporting the Traxia project.
As mentioned, unfortunately the current shock in the global economy in combination with previously communicated issues around a lack of demand for a blockchain-based trade finance solution brought us here and there is no way out.
We made some bad decisions e.g. providing a floor for the TMT price during the first crypto bear market by being the only buyer and market maker ourselves, underestimate the time to close a sale with corporates as well as the lack of interest from institutional investors to trade digital assets backed by invoices, etc but we worked hard during these last 2 years and we were always positively surprised by the effort and commitment revealed by this community
we will inform Binance DEX to delist TM2