OPEN Exchanges Strategic Vision

Dear Open Custody Protocol Community,

As we continue to build the future of DeFi through the Open Custody Protocol, we want to share some important updates about our exchange strategy and how we're positioning OPEN token for success in exchanges.

Evolution of the Exchange Landscape

The digital asset exchange ecosystem has evolved significantly over the past few years, with clear differentiation emerging between various tiers of exchanges. This evolution presents both challenges and opportunities for projects like ours. As inheritors of multiple exchange listings from our previous iteration, we find ourselves at a strategic crossroads.

Our Vision for OPEN's Trading Future

We believe in quality over quantity when it comes to exchange listings. While having numerous trading venues might seem advantageous at first glance, the reality is that fragmented liquidity can lead to suboptimal trading experiences for our community members.

Our strategy moving forward is crystal clear: we're focusing on securing and building strong relationships with Tier 1 exchanges that can provide:

• Deep, concentrated liquidity pools

• Expand visibility of OPEN token

• Better overall user experience

• Stronger security measures

Strategic Consolidation for Greater Strength

To achieve these goals, we're implementing a strategic consolidation of our trading venues. This means we'll be focusing our resources and market-making efforts on exchanges that align with our long-term vision and provide the most value to our community, while avoiding liquidity fragmentation.

Some of you might notice changes in certain trading pairs across various exchanges. Please understand that these adjustments are part of our broader strategy to:

• Concentrate liquidity in key markets

• Improve trading efficiency

• Position OPEN for future growth

• Grow a stronger position in exchanges that are direct competitors of Tier1 exchanges.

Looking Ahead

The future of OPEN is bright. Our protocol continues to innovate with recent integrations like Fordefi, and our upcoming deployment on Warden Protocol is set to revolutionize permissionless key management.

We're making these strategic decisions today to ensure OPEN maintains its position as a leader in the modular custody space tomorrow. Our commitment to building valuable technology and fostering a strong, sustainable ecosystem remains unwavering.

Thank you for your continued support and trust in our vision. Together, we're building something truly revolutionary in the blockchain space.

The Open Custody Protocol Team