At this stage, selecting a new partner and overseeing the development of a new Capdax back-end would mean launching in August at the earliest, leaving very little time to generate our required revenue. Additionally, although we’ve made strong progress toward every other aspect of the Capdax launch, our exchange is now many months behind schedule and the market has shifted. Today, it’s extremely challenging to run a successful exchange, let alone launch a new one, as highlighted by the rate of exchange shutdowns and hacks over the past 6 months.

We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers. The TGE will represent 51% of the tokens being sold and when one tier is sold out, the next tier will be activated immediately until all of the tokens are sold. Alternatively, buyers will be able to see their tokens in the Capdax Exchange when it launches. The creative minds behind Capdax are a team of young but highly experienced individuals who bring a lot of technological foresight and innovation to the table.

In future, to ensure the https://cryptolisting.org/ Community are aware of important developments as they happen, we will be publishing summarised updates at the end of each quarter. Whilst we are stable, a significant amount of the capital raised during our TGE depreciated due to poor market conditions and banking delays. In response, myself and the team took steps to adjust our approach and ensure Capdax remained in a strong position to grow and succeed.

We are pleased to have been able to provide this transparent overview to fully address any questions or concerns the community may have. For any further clarifications regarding the report, the summary contains a digital form which you can use to reach out directly to the financial accountant. Additionally, we have added two friends of Capdax to our leadership team, with whom we’ve been discussing a partnership in the derivative space. They are very familiar with our project and the broader crypto market, and will provide the skill sets required to execute this potential pivot. I’m not yet able to share their names but can confirm that one has overseen numerous startup exits and the other previously held a leadership role at the venture arm of a well-known Fortune 500 technology company. Specifically, we are exploring options to pivot the company toward an opportunity with more-immediate revenue potential.

  1. I’m not yet able to share their names but can confirm that one has overseen numerous startup exits and the other previously held a leadership role at the venture arm of a well-known Fortune 500 technology company.
  2. Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
  3. However, this external partner did not submit the work to deadline, resulting in delays in the final quarter of 2018.
  4. To ensure Capdax’s successful launch, we have built a large community across Telegram, Facebook and Twitter.
  5. Additionally, although we’ve made strong progress toward every other aspect of the Capdax launch, our exchange is now many months behind schedule and the market has shifted.

We have been working passionately with minimum costs during May and June, utilising all our expertise and industry contacts in an attempt to meet these conditions, and leaving no avenue unexplored. We dove deep into negotiations with our potential business partner about deal terms, as well as approaching several other players actively searching for an institutional derivatives solution. We explored the feasibility of raising additional funding through non-equity in order to maintain full control. For some time we’ve been assessing potential business models that Capdax could move into instead of the exchange business.

XCD Markets

Prior to our partnership, we were promised a ready-made solution, encompassing a large part of Capdax’s back-end. This turned out to be false and significantly increased the scope (and timeline) of our partnership. This update will serve as the first of two that I’ll be publishing in the next 30 days. Here, I will highlight the challenges faced in the development of our most-recent Capdax back end, summarise our progress since the Capdax TGE (Token Generation Event) and briefly outline our plans moving forward. In my next update, I will provide a more comprehensive explanation of what you can expect to see next from Capdax. The organization runs an official blog through Medium.com which offers a lot of valuable information, including the latest news and updates on Capdax Exchange and the digital currency market in general.

Portfolio Holdings CAPAX

Amatus, a recognized cryptocurrency and blockchain expert, has founded many successful organizations, including the crypto asset investment club, Maple Fund, and Beyond Blocks, a global conference of blockchain enthusiasts. Capdax wants to totally change the way in which users trade in cryptocurrencies by offering a system that can be personalized to the user’s own style and needs. Beginners will be able to select an “easy mode” interface which offers simple tutorials and the ability to select trading pairs and place orders with just a few clicks. More experienced traders will appreciate the full suite of trading tools that are available and the ability to customize the dashboard to their individual preferences.

Since the last update, we have been working extremely hard on trying to secure the necessary agreements and partnerships, whilst running on minimum costs. Capdax Exchange prides itself on the security measures that have been implemented into this new platform, which was engineered to place online security at the forefront of the system’s design. Capdax aims to be one of the few cryptocurrency exchanges that is fully ISO compliant, a globally recognized standard in best practice for physical and technical security.

Final Community Update — (September

Today, we are looking more seriously at a handful of these options as opportunities for a company-wide pivot. These ideas are being analysed, but you can expect to hear about a new direction in our next community update. Two of the initial founding members contributions were refunded as the team separated from them, in each case based on the actual rate at the time of the refund and proportional to the holdings of the company. For example, if at the time of the refund, the Capdax wallet had decreased in value by 50%, the founding member was paid out 50% of his initial tokens, downward adjusting the initial XCD/USD rate. Beyond our public BETA, the team is already hard at work validating a handful of powerful features with the aim of differentiating Capdax in the market. In addition to world-class customer support and a sleek, intuitive interface, our white paper proposed that Social Trading would be the first major feature to appear in the product.

June 2019: Capdax’s Future and a recap of Events

It’s no exaggeration to say that, from a technical and legal standpoint, Capdax has been one of the most ambitious and rewarding projects that myself and the team have ever worked on. Over the past 18 months, the team has not only produced the beginnings of a world-class cryptocurrency exchange but remained focused and agile in the face of rapidly-evolving regulation. Today, we’re more excited than ever about the outlook of Capdax and the role that it will play in the evolving blockchain space. Today, I’m pleased to announce that the majority of our larger token holders were in support of working toward a new direction for Capdax. Additionally, we have taken steps to further prepare Capdax for the long term and reduced our already-lean burn rate by eliminating all redundant, exchange launch-related outgoings.

The ratings agencies that provided the quality breakdown ratings are Standard and Poor’s, Moody’s and Fitch. The credit quality breakdown does not give effect to the impact of any credit derivative investments made by the fund. Actual after-tax returns depend on each investor’s personal tax situation, and are likely to differ from those shown.

The first, how the final product would have looked, had our partners delivered a working back-end. Another full rebuild would be required to produce a working Capdax back-end and we have lost confidence in our development partners’ ability to deliver this solution. Being the second setback of its kind (in January we outlined a similar experience with our previous partners) and with our financial runway ending in early-2020, this challenge calls the future direction of Capdax into question. In December 2017, the Financial Times reported how two cryptocurrency exchanges fell victim to cyber attacks, which led to one of the exchanges being forced into bankruptcy. Most notable of these challenges were the replacement of key leadership and issues faced in developing a secure, sophisticated and scalable Capdax backend.

Complete cryptocurrency market coverage with live coin prices, charts and crypto market cap featuring coins on 750 exchanges. Capdax will also offer users an exciting social trading platform that is sure to make online trading much more interesting. Under this platform, trading no longer has to be an activity that you do in isolation. New or inexperienced users will be able to “follow” more experienced traders by mimicking their portfolio holdings and mirroring adjustments. Capdax is a cryptocurrency exchange that promises both novice and advanced traders a simplified, yet sophisticated new interface to execute cryptocurrency trades safely and efficiently. With the recent market surge in Bitcoin and other digital currencies, it has become more important than ever to have a platform that is fast, user friendly and secure, which is precisely what Capdax Exchange aims to deliver.

Investors should carefully consider the fund’s investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, capdax contact us or view the prospectus provided on this website. Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.

To ensure Capdax’s successful launch, we have built a large community across Telegram, Facebook and Twitter. Additionally, our leadership team has developed a strong presence and partnership pipeline within the European cryptocurrency space. The Capdax leadership team and I see it as our responsibility to reassess the direction of our company.

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