Coin Exchange Deployment Update — 3/1
We are sending out this update to advise you of the current status of the deployment schedule for all remaining core functionality for V1 of the Coin Exchange.
Since our last update, we have implemented several bug fixes, product improvements, and introduced support for sending and receiving Bitcoin. Today, we have deployed cross-chain exchanging support for BTC, ETH, and COIN using atomic swap technology. Again, all from the same wallet, while remaining decentralized and assets solely under user-custody. ☺️
For safety and security, we will :
- provide the initial liquidity on the network
- have zero platform fees (please note that there are still network fees for each chain on an exchange)
- limit exchange amounts
- pilot community testing
This is to ensure the network is working as expected with low risk to users. Once we all feel that the platform sufficiently meets user and network expectations, we will remove the limits and introduce platform fees to distribute to liquidity providers and perform $COIN buybacks. To aid in testing and build the community’s confidence in the platform, we will conduct a pilot with a few volunteer members. Each volunteer will receive BTC, ETH, and COIN in their wallets. We ask all volunteers to report their experiences to our team and community. For all other users, we recommend limiting your transaction amounts in the short-term or follow the progress of the feedback from the community members involved in the pilot. Please view the Coin Exchanging guide for instructions: http://bit.ly/37VT2pL
This represents a huge milestone for Coin and the industry. Cross-chain interoperability remains a huge problem across the blockchain industry with ecosystems that operate in closed silos that are independent of each other. The future cannot exist where protocols do not talk and work together. We stand firm when we say that we truly believe in a future where users have full transparency, control, and autonomy of their assets at any given time… across any blockchain or protocol across the Internet. This forges another step forward towards pure sovereign wealth management and a truly open financial system.
That said, we are on schedule per the updated timeline below.
- 3/8: Staking support ($COIN)
- 3/15: V2 UI update
- 3/22: Website refresh and AI browser extension release
(Our team was materially impacted by the snowstorms in Texas last week which led to power outages and more. This resulted in burst pipes and flooding for our CTO. While the exchange functionality has been developed and working, we thought it was not a good business decision to proceed with the previous release schedule while part of the team was offline. Especially given that user funds are involved.)
We will continue with additional bug fixes, product improvements, and more. As previously noted, please remember that V1 is a base build that is a focused experience centered on core functionality / utility.
V2 will be polished with UI enhancements, full AI integration, browser extension support, and more. Here is a sneak peek of the UX / UI for the browser extension experience of Coin Exchange V2 (Please scroll if viewing on mobile. Please note that the desktop and mobile experience will vary.): https://invis.io/RF101TQV847D
Full execution of our marketing will commence following the network operating as intended and meeting the expectations of our users and the subsequent launch of the Coin Exchange V2. Please note that this schedule is what we fully intend to execute upon, however; we ask that you understand that it could change due to unforeseen circumstances.
Thank you for your patience and continued support!
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