As many of you are aware markets have not had the best start this week.
While we all love vertical price action, gravity does exist.
Larger markets were showing signs of stress and a potential selloff over the weekend.
On Sunday Kushti and I had a call to discuss potential outcomes from what the larger market was signaling.
A few whales and community members had already been reaching out to the team and encouraged us to warn SigRSV holders to consider managing their risk and exiting their RSV position.
Some in the community listened, many did not.
In our ecosystem, we do have larger players who are invested in the long-term growth and value of the Ergo Network.
A few of the concerned whales volunteered to cover the SigmaUSD bank from a potential attack from the Bearwhale, even if it meant missing out on gains.
They made a choice to cover the short position from a Bearwhale attack, lock in gains and use that to help create future value in the Ergo ecosystem.
We are in the process of listing on 4 exchanges, and I absolutely refuse to delay any aspect of that process, as soon as I have permission news will be pushed.
The largest whale minted 2.150.000 SigUSD.
He has agreed to provide a part of that amount to provide future SigUSD liquidity on the ErgoDex as well as future exchange listings.
He is also prepared to spend up to 50K on listings and grants for Developers.
The second whale minted 1.200.000 SigUSD.
This whale has agreed to provide ERG to help fund the LETS project we are going to be developing later this year.
