SKIPPY: Update

Good day everyone I trust you are safe and well, I won't keep you too long on this thread and just wanted to provide a quick update on the progress made this week as we have had some forward momentum and some setbacks but nothing too major and nothing we can't work through.

The most exciting thing to occur is the legal action plan which will provide general advice on current crypto regulations and how they apply to memes. Coinciding with our business plan I need to be sure we are on track with what can be achieved with a meme coin before we step into the realm of financial services.

It is a challenging field to be in as we are building a business in a new and emerging industry with many unknowns this is a core reason why legal advice is classed as general. I'd hope by the end of our sessions we will be able to have a broader understanding on what we need to do to achieve compliance. Given that crypto laws are changing soon we may need to revisit this in a few months.

A big shout out to Indigenous Business Australia and AMK Law for supporting us in this endeavour.

We're having some issues with the cointool seeing we weren't able to reach the 10 BNB required it won't let me claim what there is available which has provided the issue that we have about 1.45BNB worth of Skippy that has pretty much been an airdrop to people as the contract will be refunding all monies paid. I am in the process of contacting the site owners to see if we can claim it and lock it to LP.

You can buy the meme from pancake swap but you will need to set slippage to 8% this is in order to power the LP and ensure the project continues to grow over time.

It has thrown a spanner in the works as this entire process has costed about 3BNB which is significant cash that I will need to drum up from somewhere to cover. Thankfully 1.45BNB isn't much money and I can reprovide it over time.

Next Steps

Next Steps will be to await the legal advice to ensure we are compliant with regulations and can continue to develop and make sales. Without the cash flow it will be hard to drive the project further.

I do have my meeting today with a Web3 Developer and we will be chatting about NFT incorporation and Web3 gaming. I have a few ideas in mind it's just about getting them moving.

That's all from me for today and I will update you all on how my meeting went with the Web3 developer and what plans we can get in place.

This is not financial advice and readers are advised to undertake their own research or seek professional financial services

Posted Using LeoFinance ^Beta