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Update on NIL
NIL Coin currently has limited liquidity. Although the project continues. to operate and has clear utility leveraging blockchain to reward athletes for their Name, Image & Likeness, the reality is that the liquidity and stability of a token is purely based on how many people sell vs how many people buy.
Over the past year, with the entire crypto market being liquidated and sold, NIL coin was not immune to the sell-off. Holders of NIL continued to sell until the liquidity pool was emptied. We attempted to control the sell-off by implementing a lock and slow distribution of tokens over time, but despite these measures, every time tokens were unlocked they were sold, which eventually drains liquidity.
As the market matures, regulations are put into place and confidence is restored in the crypto market - we expect that tokens like NIL will be able to have stability and more structure in the future.
Until then, we will continue to work on the project, improve its utility and look forward to the future of blockchain.