Dear Gelato Team,
I am writing this on behalf of your community, shortly after your token release. It is clear now that this release has been unsuccessful. Unsuccessful by what metrics? You have said in the past that the goal of this release was to both reward and allow community participation on the Gelato Network. The community who have supported this protocol has been priced out by a mismanaged sale, with a majority of tokens going to a small number of accounts.
The combination of a FCFS launch, the multiple delays, and not allocating enough token for whitelisted participants was the downfall to this launch. FCFS, website failure, not sticking to the actual token release time - how were your loyal community members ever going to be able to participate?
A key finding is that one account was able to automate and purchase 70% of tokens. The irony of this, is that your community are the ones who believe in the power of automation on the blockchain, but were unable to participate and become invested in your protocol due to it.
There are 50% of tokens, locked up for the community. There is a simple fix to this failed launch - to reallocate a portion of these tokens for whitelisted participants to purchase their allocated amount. As you are aware, a loyal community in the decentralised space is the backbone to any strong protocol. Competition is fierce, with other protocols easily replicating and offering similar services.
Although we are disappointed, you are still able to fix this. Please consider.
Gelato Community Member