Coin Exchange Deployment Update — 3/9

3 min readMar 9, 2021

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, receiving, and exchanging across Bitcoin and the Ethereum (ERC20 tokens). Again, all from the same wallet, while remaining decentralized and assets solely under user-custody. (Read the benefits of decentralized and non-custodial solutions here)

Today, we have deployed support for staking $COIN. For security purposes, staking will be limited upon release to mainnet. To lower risk during our initial public release, the $COIN staking reserve will be funded with a limited number of tokens. Additionally, we recommend users to only stake a limited amount of tokens to ensure that all functions work as expected. As we confirm that the staking contract and the overall experience meets user expectations, we’ll move forward with the full staking program. Despite conducting security audits, we want to ensure the security of our users and network before full deployment. Here are resources to get you started:

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 will reach out to those we have selected over the next day or two with information and instructions. We ask all volunteers to report their experiences to our team and community. Please note:

  1. Staking requires two transactions on the blockchain to completely execute (both incur gas fees):
    - 1st: Transaction to approve the staking contract access to your wallet
    - 2nd: Transaction to send your $COIN to the smart contract to begin staking
  2. Funds are only staked when the color of the icon and amount are yellow.
  3. Coin Wallet currently has zero fees; however, will incur normal network fees for each blockchain. This includes failed (if sent to the smart contract) and successful staking requests. Current fees on $ETH can be anywhere between $2 — $100 USD depending on gas, token type, quantity, etc.
  4. Your $COIN tokens are safely returned back to your wallet from the smart contract once you have elected to end staking in your transaction record for your request (in your transaction history).
  5. Staking requests are executed on-chain and execute at the speed of the Ethereum blockchain. This means transactions may take a few minutes based upon network conditions including congestion, etc.
  6. Unlike exchange requests, you do not have to be online after submitting your staking request for it to execute.

We ask that you always follow the complete instructions for utilizing any and all of the deployed functionalities, inclusive of wallet creation, sending / receiving, exchanging and staking. We would also remind you to contact support at immediately upon experiencing any unexpected outcomes while using these features. We advise users to not attempt to fix an issue yourself without guidance. Further to this, we ask that you not share any workarounds that have been provided to you individually through support, in aid of others in the community that may beexperiencing issues. Not all issues are the same and sharing a fix that works for one party may result in undesired results to others. We advise troubleshooting to occur directly with our team.

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.):

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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