Notice: Change of back-end platform to Klaytn and token burning decision

Hello everyone! This is Blue Baikal. We are here to announce our current progress and the primary changes in our Token Policy.
First and foremost, we sincerely apologize for the delay in our development and for the launch of the Blue Baikal website. In order to provide better and stable service for all Baikaleans, we decided to change our beta service backend platform from Luniverse to Klaytn, which is the cause of our delay.

As we stated in the Blue Baikal Whitepaper, we used Luniverse to conduct our development; however, in 2020, Luniverse’s related companies have been experiencing service disruptions, and the collaboration between our listed exchanges and other exchanges with Luniverse has not been smooth.Due to this, we made the difficult decision to replace Luniverse with Klaytn after long consideration; otherwise, if we were to keep Luniverse as the back-end platform, we expect more difficulties with listing in additional exchanges, as well as with developing additional functions.

As many are aware, the synchronization and collaboration with exchanges, platforms (ICON, Klaytn, Luniverse, Ethereum, etc.), and our project depends on the business decisions made by the said platforms; service developers like us have little control over the situation. Therefore, as service developers, our top priority is deciding on a blockchain platform that provides the most efficient and versatile support for our future exchange listing and business progress. Bearing this in mind,, we decided to move over to another platform with more feasible support of exchanges than Luniverse.

We came to the decision of moving over to Klaytn after reviewing several other blockchain platforms including ICON beside Luniverse. We decided to choose Klaytn because of its future growth potential, market status, development support, participating projects, etc.
We sincerely apologize to those who have been waiting for a long time. It is a great shame that we spent a lot of time and expenses on developing with Luniverse. We sincerely hope you understand that it was a difficult decision for the future of our business after many internal discussions. The development team is currently working on a replacement and recalculating the timeline, so we will notify you as soon as the service functions are organized and the timeline is set accordingly.

As mentioned at the start of our announcement, we have also made primary changes to the Token Burning Policy. Out of 35 billion tokens that we have prepared for service management and marketing, we have decided to burn 30 billion tokens, leaving 5 billion tokens to secure users, encourage participation, and enable service management during the initial service launch. From now on, the required tokens (for service use compensations, marketing, etc.) while operating the service will be announced and issued in a small amount by determining the required token quantity through the service activation evaluation every quarter. We will share the date and time of the token burning when the decision has been finalized. Also, as we finalize the internal decisions, additional changes to the Token Policy after the first burning will be announced step by step.

Thank you for your patience and understanding,
we sincerely apologize once again for the delay in service.