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We Almost Didn't Launch a Token: An Update Six months ago I said we'd launch a token when the product, the infrastructure, and the moment were right. None of them are right yet. So we're not launching one in the foreseeable future. Not a strategic masterstroke or some elaborate scheme so I could be rich and retire (I wish). I've watched enough teams ship a token before their product was ready. The token becomes the product. Every decision gets filtered through price action. The team stops building and starts managing the chart. The token and the project both die. I don't want Perena to die. My original thesis still holds: tokens, stripped of the bullshit, are one of the most powerful growth tools ever created. It's fuel during a growth cycle, but it does (mostly) nothing during a recession. USD* and $SOL * are live. Smart Borrow is live. Vaults V2 will be live. The yield is real cash, the borrowing is real savings, the infrastructure is a fortress. No TGE date in our roadmap. If and when it happens, you'll know. Until then, the answer is: we're building. A few months ago I said "if the lack of a ticker symbol makes you leave, that's a failure of our product." Perena needs products that are valuable to paying customers. That's what we're building towards.