Dear InterSwap Community,

I want to take a moment to share updates on where we stand as a project, the challenges we are facing, and the way forward.

The Past: Inception till 2025

Late 2021 to 2022: Early Days

• This era was dedicated to problem identification, product concept & architecture design, and finding & evaluating best-fit solution approaches

• The 1st major breakthrough happened with the LayerZero messaging solution

• Launched Beta version among closed circles to capture the feedback – but later identified some technical scalability challenges. This paved the way for need of a more robust technical solution

2023: Axelar Era

• Onboarded Axelar that marked a major landmark. Successfully integrated its GMP stack and became the 1st Omnichain Liquidity Unification protocol to do so on Axelar

• Immediately followed InterSwap Genesis launch – the first testnet version

2024: Growth Phase

• Launched InterSwap Unfold, a follow-up launch to meet continued user demand

• InterSwap Genesis and Unfold set the foundation for what followed InterSwap Union – a full fledged open to all access

• Launched InterSwap Gamified Points System – a record 40K+ on-chain users used it

• Scaled team to 18+ at its peak

2025: Challenging Phase

• Launched InterSwap Vanguard – the 1st Mainnet version

• Followed up with that launched Options Liquidity Mining (OLM), an innovative Liquidity Incentive model

• Further, explored and designed additional several offerings viz. Express Swaps using Intents & Solvers, Business Integration use cases (InterBiz), and AI incorporation

• Redesigned token utilities to offer more value capture mechanisms – revenue sharing, meta governance, gasless transactions, and more.

• Ended by securing a large scale and long term strategic alliance with a global partner to assist with global market opportunities

Summary: Scale and Traction (2023 - 2025)

• 4 Large scale successful launches from Testnet to Mainnet across 12+ EVM chains, used by 0.345M+ on-chain users, processing $70.2M+ in Swap Volume, and secured $40.2M+ in protocol TVL

• Built a 200K+ strong community (across socials – X, Telegram, and Discord; and 5K+ newsletter subscribers)

• 40K+ Gamified Points System on-chain users

• 100+ Ecosystem Strength Partners & Alliances, 60+ Opinion Leaders, and respectable Investors & Advisors

Setbacks

Market Conditions

This was perhaps the most important setbacks that slowed down the growth trajectory

• Investors started pulling back with whom we were having very positive conversations

• Pre-IDO Launchpads either started putting their sale line-up on hold till the market showed some growth or started imposing refund policies that locked capital till token launch. Either of these blocked the capital inflow opportunities for InterSwap

• Other capital formation efforts (like grants and accelerators) were also not materializing

On one hand, we were constantly shipping launches and product upgrades, but on the other hand there was no capital formation & inflow. This directly hit our treasury & runway. After this, it was always a catch-up. Even after having the Mainnet product ready, the struggle to launch the token is real and unavoidable.

Social Setback

Unexpectedly our X handle was taken down in Q1 2025. As a result, we lost 50K+ community build over the years. Though re-built it from scratch but attaining same level of organic growth takes time

Narratives vs Product

Shifting narratives (AI, Memes, RWA, ETF, Stablecoins) made it a difficult choice between “What is right” vs “What is popular”. Changing narratives further made it difficult to retain users

Declining Competitive Edge

One thing led to another which impacted the (token) launch timelines. This delay further made it harder to time the market thus diluting the competitive edge

Emotional Setback

Continued commitment and dedication without a fruitful outcome can easily lead to lack of motivation, blame, and frustration. Doing “What is right” vs “What is popular” often  requires willingness to compromise on core values that can be tough emotionally

Future Outlook: 2025

Capital Formation

The biggest priority will be capital formation that would entail exploring all possible opportunities viz., conventional venture capital, possibilities of pre-IDO public raises, grants, and any other mechanisms & instruments

Most Anticipated Question – Token Launch

Token launch is directly dependent on how fast we can secure capital and build treasury, as there are sizable upfront expenses that would be required to get launch-ready. Until that happens, unfortunately, it would be impossible to commit any specific token launch timelines – but I wish we could have been in a position to say the opposite

In the context of launch readiness, this is where we stand overall:

• Product: Mainnet grade ready and live

• Public Sale Launchpads (IDO): Already secured and also enough contingency backups

• Market Maker: Built robust pipeline and can be quickly closed after some capital injection

• CEX: Couple of offers in table and also in connect with many – again can be closed after some capital injection

• Distribution and GTM strategy: Continuous process but already in place

Incentive Alignment In our efforts to do justice with all the stakeholders, we took several corrective measures and would continue doing so:

• Assured airdrop to protocol users

• No-cost bonus to investors

• Revenue sharing for token holders

Restructuring

Streamlining the project with a smaller contributor base to extend the runway

Partnerships

Exploring collaborations or integrations with stronger ecosystems that can give the project new life.

Graceful Wind-Down

If neither of the above is feasible, we will consider a respectful closure, ensuring users and the community are not left stranded

No matter what path we take, one thing remains unchanged: the effort, passion, and belief that all of us brought into this journey. That spirit is worth respecting and carrying forward.

Thank you for walking this road with us. We will continue to share updates openly and invite you to be a part of the dialogue on what the future of this project should look like.

With Gratitude,

Konstantin Rmz

CEO InterSwap Labs