# A Hearty Farewell.

**Published by:** [RiveX](https://paragraph.com/@rivex/)
**Published on:** 2022-07-13
**URL:** https://paragraph.com/@rivex/a-hearty-farewell

## Content

RiveX would like to announce the departure of the project due to the lack of funds and extreme market conditions. Bitmax Listing - $250,000 Bitmax Liquidity Provision - $100,000 Market Maker Fees - $70,000 AMM Liquidity - $50,000 Employees Salaries (8 employees for 18 months) - $198,000 Hosting Fees and Contract Audits - $55,000 Marketing Fees (Community Building etc) - $66,000 Total = $789,000 A total of $650,000 has been raised and to cover the expenditure shortfall, RiveX has put in personal assets to support the project. Due to unforeseen circumstances, a hearty decision is made to shut down the project due to the lack of fundings and extreme market conditions. RiveX is merely a startup and all startups shut down due to lack of fundings, what’s more in a horrendous market condition. However there is a commitment of $164,500 to be distributed to selected addresses over a course of 36 months. Thank you for your kind understanding. This is a hearty farewell.

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