BitSong Mainnet Launch (UPDATE)

Dear community,

We are here today to first of all thank you for your continued support and patience, especially in this transition phase towards the Mainnet Launch.

However, we are sorry to announce that we have to postpone the mainnet launch by 20 days, as various unforeseen events have delayed us with the fulfillment of the given deadlines.

The reasons that lead us to delay the launch date are basically the following:

- we had a huge surprise when generating the keys using the ledger, as the app is not compatible with our coin type, just as it is not compatible with many other coin types in the Cosmos ecosystem, but while some have decided to disguise this thing, we have decided not to do it and to find a more suitable solution.
- the huge increase in the gas fee, consequently we prefer to give more time to those who will have to use the smart contract to enter the Mainnet from erc-20, so that they can better manage the fees to be paid.
- last but not the least, we had some problems with the KYC provider in the initial phase of the processes but which at the moment have been solved.

That said, we communicate that we have decided not to use the Ledger for authentication at this stage, as this would mean that we should use the Cosmos coin type, while we want to use ours, but the Ledger Cosmos App is incompatible with our Chain as mentioned above.
We will launch without Ledger and develop the app for it later, so at the moment the key generation is done with the Mnemonic phrase.

Therefore, the new launch date of Mainnet 1.0 jumps from 5 to 26 of March 2021, with the following roadmap:

- Friday March 5th — start of allocations / credits, smart contract available
- Friday March 19th — smart contract closing
- Monday March 22nd — generation genesis
- Friday March 26th — Mainnet launch

We also remind you that in Mainnet 1.0 will be enabled:

1. Bank — Transfers
2. Staking
3. Governance
The version of Cosmos SDK that will be used for the Mainnet will be v0.39.x.

Thanks again for your continued support and we hope that this delay has not caused any inconvenience to any of you.

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