Official Statement for Bithumb’s Investment Warning Designation

Dear investors, as many of you may be worried regarding COLA token’s investment warning designation on Bithumb, we would like to first assure you that Colawork team is actively working to resolve the proposed issues.

According to Bithumb, COLA token has been designated with investment warning for the following reasons:

Reason 1. “Difficulty to check the development and business status of the foundation”

Colawork team has been focused solely on developing the Colawork service that is soon to be launched. As a result, we were not able to allocate enough resources for marketing and sharing of the development progress. From now on, we will share the detailed roadmap of the project in the beginning of every quarter so that everyone can accurately understand the current status of the project.

The team has been conducting beta test program for the past several months to increase the stability of the service before the official launch. Colawork service that integrates with a global collaboration tool will be launched in the third quarter as scheduled.

Reason 2. “Insufficient management of communication and social channels”

Colawork team has been communicating through Medium, Naver Blog, Twitter, Facebook Page, and our official email. We acknowledge that active communication was not easy since the social channels mentioned above are mostly single directional.

The team has decided to open an official Telegram open chat, and we will be managing it directly in order to respond to inquiries more quickly. Through this bidirectional communication, we will actively communicate with investors regarding questions and requests.

Everyone at Colawork team feels deeply responsible for today’s event. Colawork team promises that we will continue to improve to be more communicative and active on social channels. In addition, we will do our best to cooperate with Bithumb to remove the designation by providing explanatory materials.

Thank you,

Colawork Team