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Altcoin.io - децентрализованная биржа на эфировской плазме


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В декабрьском отчёте говорят, что сместили фокус от построения собственного декса в сторону движка для любых дексов, white label, все дела. 


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  • 3 weeks later...

Отложили запуск декса до Q1 2019.Надеются, что тогда SEC определятся какие токены являются секьюрити (прим. перев. наверняка не определятся), и они узнают легальные требования для обменов без собственника.



Rohit Batish 

When will the exchange launch? Is there a timeline?


Andrew Gazdecki

We’re going to delay the launch of our trading platform until Q1 next year. Hopefully, by then, the SEC will have clarified which tokens constitute securities, and we’ll know of any further legal requirements facing non-custodial cryptocurrency exchanges.
We will keep you posted each month on our progress so stayed tuned for good news!


Источник: переписка в треде инвесторов

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  • 3 months later...

Обещали в Q1 запуститься, и потом пропали на 4 месяца. Прислали отчёт за первый квартал:

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Andrew here, CEO at Altcoin.io. I wanted to give a quick update to all of you now that the first quarter of the year has passed.

New additions to the team!

President - Ken Kavanaugh: https://www.linkedin.com/in/kavanaugh

Ken co-founded Moon Assist, an advanced order management crypto trading platform, as well as led corporate and business development efforts for Lykke DEX, a pioneer in the use of the security token. He generated $400M+ in revenue and closed dozens of fintech transactions over the years, amounting to $1B+ in M&A deal volume.

VP Engineering - Jimmy Rimmer: https://www.linkedin.com/in/rimbosity

Jimmy has been a large addition to our technical team and brings 15+ years experience defining and monitoring key metrics to determine the success of product against objectives, roadmap and customer needs; facilitating communication as a leader of cross-functional teams; adapting rapidly to different situations, modernizing old code and infrastructure; and doing hands-on development.

System Architect - Kirk Ballou: https://www.linkedin.com/in/kirkballou/

Kirk Ballou has been leading development teams and creating software for Fortune 500 brands for over a decade, working with clients like CNN, MTV, Red Bull, Microsoft, and Nat Geo. He is also a contributor to open source projects for Microsoft, Zclassic, and Bitcoin Private.

Content Writer - Chris Roper

Chris Roper is a writer exploring how complex, disruptive technologies will change the world for the better.

Community Manager - Piyush Mathur

Piyush Mathur has over 9 years of experience in Digital Marketing & he has been actively involved in the cryptocurrency community as a trader with a strong interest in the blockchain technology.

Product updates!

The majority of our time has been spent bug testing and pressure testing our exchange. We’ve also created an admin panel to help our white label partners easily configure branding, tokens to list, user account management, tracking analytics, and more.


Why you should offer cryptocurrency trading to your customers: https://blog.altcoin.io/why-you-should-offer-cryptocurrency-trading-to-your-customers-e5c11d76884

There’s a lot of work being done to ensure we’re creating the most powerful white label exchange platform to be used by both regulated financial institutions as well as centralized exchanges looking to offer a decentralized exchange offering to their current users.

Current go to market strategy!

See this document here for an overview of our white label offering: https://drive.google.com/file/d/1DstLzT_Q98lJQTJuc2m496ENCt8pi78m/view?usp=sharing

We are the only white label decentralized exchange solution with a complete product suite, at the industry’s best price. The idea here is to work with compliant companies to help them launch their own exchange. 

This allows us to avoid any legal issues and also focus on our strengths which is blockchain technology.

Financials updates!

At the time of writing, we have about ~$350k of cash remaining and have enough capital on hand for about another ~8-months of operations. 

We have had larger than expected expenses with our legal team exploring ways to potentially launch our own exchange and understanding the costs it would take to do so.

We have had larger than expected technical costs through security testing and by creating an admin panel which is a large request from potential partners that we’ve been speaking to.

We always have the option to reduce the team size to extend our runway. The majority of our spend has been on hiring experienced engineers and leadership.

Questions you might be wondering... 

Why haven’t we launched our own exchange?

In December of 2018, the SEC (U.S. Securities and Exchange Commission) took action against the decentralized exchange EtherDelta. You can read more about this here: https://blog.altcoin.io/how-the-sec-action-against-etherdelta-affects-altcoin-io-ee9749b7f203

The short version of this after consulting with our legal team was that in order to launch our own exchange compliantly, we would need to register as a broker-dealer and ATS (alternative trading system). The costs and time for us to do this is far beyond the capital we have on hand.

As an example, Coinbase bought an ATS license through the acquisition of Keyrock for upwards of $100 million: http://fortune.com/2018/06/06/coinbase-broker-dealer/

The time to register as a broker-dealer / ATS can take over a year and can cost up to a $1m in capital to do so which is why we’ve decided to pivot towards working with broker-dealers / ATS companies. In addition, the process does not guarantee approval so we felt the risk was not worth the reward given the capital we had on hand.

Have we secured any white label exchange partners?

We’re in the process of securing our first white label exchange partner now based in Europe. Our hope is this will be the first of many. 

We have also begun reaching out to every centralized exchange to help them launch a decentralized exchange but at a much lower cost than building one themselves. 

Both Binance and Coinbase (market leading cryptocurrency exchanges) have launched decentralized exchanges so we feel there could be a strong market fit here.

Is everything going as planned?

Like any startup, we’ve had our fair share of unexpected bumps in the road thus far but we’re working as hard as we can to make this business work.

Here is a short list of things challenges at the moment…

- Legal landscape uncertainty
- High blockchain engineering costs
- High security testing and bug fixing costs
- Cryptocurrency market being in a bear market
- Competing against more capitalized exchanges
- Recruiting key team members
- Finding compliant companies to partner with

All of the above has lead to challenges raising additional capital from other investors.

So where are we going from here?

We’re heads down and working 24/7 to find our ideal partners, which we believe are centralized exchanges. We have started conversations with these exchanges for many reasons.

- They already understand the value in a decentralized exchange
- We can help them grow their revenue with a DEX offering
- These companies are already compliantly operating an exchange
- Centralized exchanges have a built-in user base that would use a DEX
- There are 200+ centralized exchanges out today without a DEX offering
- They are well capitalized and understand how to operate an exchange

How are we determining success?

Securing white label exchange partners! 

The biggest challenge for us right now is obtaining our first white label partner. Since we’re close to launching with our first partner, we feel we’re on the right path.

We’re charging $50k-$150k to license our technology so if we’re able to secure just a handful of these companies, we can dramatically increase our runway, expand our team, improve our offering, and continue to reinvest into the company to grow.

How can you help?

The most we can ask for is your support and patience. 

No company is an overnight success and given the unexpected obstacles we’ve had to face, we’ve had to adjust our business model to ensure we’re not breaking any security trading laws.

With that being said, if you know of any potential partners that are registered broker-dealers or centralized exchanges that may be interested in a conversation, please feel free to send them our way so we can begin a discussion.

What are we most proud of?

I’m really proud of how our team has reacted in the face of adversity within this challenging market. If we had launched our exchange in early 2018, we’d likely be facing legal action from the SEC for running an unregulated securities exchange. 

Business is a team sport and we’ve pivoted to a model that not only allows us to operate legally and compliantly but allows us to play to our strengths which is building the best decentralized exchange technology available.


I realize this isn’t where we all hoped Altcoin.io would be at this point in time. We had hoped to launch our exchange earlier last year as much as you did. We had hoped to change the way people trade cryptocurrency by giving them all the speed you’d see within a centralized exchange but with all the security benefits of a decentralized exchange.

However, we’re being nimble and adjusting to the market. We’re differentiating our brand and helping other compliant exchanges give this offering to their customers.

Большую часть времени потратили на тестирование ошибок и создание админ-панели для "вайт-лейбла".
Осталось $350k наличных денег, что должно хватить им ещё на 8 месяцев работы (т.е. тратят в месяц около $44k). Потратили больше, чем думали, на юридические моменты запуска собственной биржи, на создание админ-панели для "вайт-лейбла". Утверждают, что всегда могут сократить команду, чтобы денег хватило на большее время.


Из интересного:

  • время собственной регистрации в качестве брокера может занять более года и стоить до $1M, поэтому легче сотрудничать уже с существующим брокером, и выступать под его лицензией;
  • ведут переговоры с первым партнёром по "вайт-лейблу", который будет из Европы. Предлагают всем централизованным обменам свои услуги для запуска их DEX на основе Altcoin;
  • в качестве проблем называют "неопределенность правовой среды", "высокие затраты на проектирование", "высокие затраты на тестирование", "медвежий рынок", "конкуренция с более денежными биржами", "поиск ключевых членов команды", "поиск подходящих команд для сотрудничества".
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  • 4 weeks later...

Опубликовали отчёт за 2018 год, который также лёг в основу их отчёта SEC: https://wefunder.com/altcoinio/reports/2018 . К концу 2018 года имели на руках $557k, после первого квартала оставалось $350k, т.е. в месяц тратят около $70k, а постом выше пишут, что тратят около $44k. Цифры не сходятся. В остальном - интересно посмотреть. Все бы криптокомпании кидали такие отчёты, легче было бы понимать что происходит.



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  • 1 month later...

Внезапно их купили bnktothefuture: https://www.newswire.com/news/altcoin-io-acquired-by-bnktothefuture-to-launch-non-custodial-20923789. Эх, такой домен просрали. Я же только из-за него шёл. Интересно что теперь будет с нашими инвестициями.

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Так хорошо продались, что возвращают на каждый вложенный доллар в августе 2018 года $0.3. Неплохо погуляли на инвесторские деньги. И продать видимо слишком торопились.

Сумма сделки составила $150k, на счету к моменту покупки остаётся $120k. Собрали в августе $852k.

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