The below is a verbatim update from our market maker from earlier this morning:
We are reaching out to update you on the recent market conditions and our response. Over the past two weeks, we have observed significant sell pressure, with the past few days proving to be particularly challenging. As a team with a strong focus on risk management, we proactively manage our exposure to maintain a balanced portfolio, which allows us to provide KPIs sustainably over the long run.
Despite these precautions, recent market activity has caused us serious difficulty as we have been buying up your token during the sell-off. In light of these developments, we are taking the following steps to ensure stability and protect your token:
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Enhanced Market Monitoring
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Prudent Fund Management
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Collaborative Efforts with Exchanges
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Transparent Communication
Given the recent extreme volatility in markets, we anticipate delivering lower KPIs over the weekend. We are taking steps to adjust our plans for the upcoming weeks to better navigate the current market. We will provide an update either Sunday or Monday.
We appreciate your full cooperation and understanding during this period of volatility. Should you have any questions or require further information, feel free to tag your account manager.
Thank you for your continued trust and partnership