We're moving

TL;DR: We're stopping the Mateo project on Stacks and will relaunch later on Solana. Our Dev Wallet (mateo.app) hasn't sold anything since we launched the MATEO token. We wanted to inform you so that you can liquidate your tokens if you are a holder.

Farewell to Stacks (not really though)

We are ceasing development of the Mateo project on the Stacks network. This is a difficult decision that saddens us, as we have been on a journey with this chain since 2021. We remain super bullish on Stacks and will continue to hold, buy, stack STX, and promote and support all the good projects and based devs.

Why We're Moving

After much consideration, I realized that Stacks may not be the right environment for what we want to do today as a very small and young project. In my opinion, Stacks is the perfect blockchain for a certain type of private or institutional investor. It's super secure (thanks to Bitcoin), it's super fast and efficient (thanks to the Nakamoto upgrade), and it's SEC-approved.

When friends who aren't into crypto ask me which coin they should buy, I always advise four examples: Bitcoin, Monero, Solana, and Stacks. I particularly emphasize Stacks as the perfect coin for newcomers: it's safe, secure, fast, cheap, and most importantly, it produces a sound, real passive income through stacking.

Challenges of a Smol builder

However, buying/holding a coin and building a project on a chain are two different things. For a small, young project like this, at the moment, it's too complicated and risky for me to build on Stacks. I don't have a lot of money or connections. I'm young and still a wagie. And of course, I cannot hire people to assist me yet. Thus, if I want my project to find a sizeable user base as well as deep liquidity, I have to act rationally and choose a more fitted environment. That environment is Solana, which I'm very familiar with and more at ease with when it comes to programming.

Our Future Plans

Our project will retain its core goals, but we will particularly focus on the index fund product, which is what I've been mostly working on recently. Although our project will be on Solana, we still intend to find a way to include SIP-10 tokens in our product somehow. The project will probably relaunch under a new name.

Regarding the MATEO Token

Our dev wallet still holds 4M MATEO tokens. I don't really know what to do with them. They aren't worth much, but for what they're worth right now, they could still help me going forward with the development. Nevertheless, I have a moral duty to inform whoever it may concern that the project stops here, so that people can eventually dump the token if they want to. In 24 hours, I will consider that everybody has withdrawn their funds, and only after that, we will liquidate our remaining tokens.

I want to thank all the community members who sent us kind messages of support. Never stop stacking.