ear TIOnauts,
We hope this email finds you well.
The last few months have seen many changes on both the front and back ends of the trade.io exchange. For over a year now, the Liquidity Pool has been effectively operating; we are proud to confirm total overall payouts to-date of over half a million dollars. Meanwhile, over the course of just a few months, our FX branch, TIOmarkets has been launched, has shown exponential growth, week-on-week and is now the primary contributor to the liquidity pool. The management team has been engaged in ongoing business-critical decisions regarding how to drive value in the Liquidity Pool and in its TIOx holders. It has been decided, therefore, to put the trade.io Exchange into hibernation mode in order to focus resources in the profitable portion of the business — TIOmarkets, thereby investing more concretely in the future of the TIOx.
While this is a success story for TIOmarkets, this will mean a temporary suspension of the trade.io exchange for now.
We wish to directly reference the three key areas that have been raised by our veterans repeatedly on our community channels, which we also believe to be contributing factors towards the decision to put the exchange into hibernation:
Fake volumes, scam projects and the vast unregulated crypto environment have not been tolerated at any point by the trade.io management team, however are contributing factors towards the success of competitor exchanges
We are faced with the prospect of spending huge sums of money on marketing, realizing that, even were we to do so, we might not be able to reach our volume goals without resorting to wash-trading, scam coin listings and other dubious methods our competitors use to inflate their results. We simply refuse to go down this path.
Infrastructure costs needed to compete and exceed competition are quite high in an industry operating with cutting edge technology. To date, the exchange has operated with a lean and agile development methodology in order to keep costs low and maximize LP distributions. Getting ahead of the competition in terms of features and functionality would result in significant capital expenditures to expand our development and infrastructure resources. Thus negatively impacting LP distributions.
Despite the plethora of factors that have led us to where we are today, we believe that everybody will agree that from day one we have operated as a regulated exchange and have had the honorable intention of making all of our business activities a success for our pre and post ICO investors.
We are proud of the potential success that TIOmarkets will bring to our supporters. We are proud to continue offering daily payments to members of our liquidity pool, without interruption, despite these latest business decisions. Our top priority has always been and will always be our TIOx holders.
Here is some more information on what will happen now:
trade.io is not going out of business, we are simply putting the exchange into a hibernation mode until the crypto environment conditions improve.
CEO William Heyn, COO Roy Gutshall and CMO Chris Psallidas will be staying on with the project and will continue to provide strategic support, moving forward.
It has always been the intent and motivation of the trade.io management team to increase the utility and value of the TIOx. Since the end of the ICO, several projects have been embarked upon to drive the value of TIOx. The two most successful of these projects have been the LP and TIOmarkets . By putting the exchange in hibernation and refocusing, we expect to unlock more value, reduce costs and concentrate on the best performing products the group of companies has to offer. We hope that the net effect will be to eventually increase LP payouts and as a result the value of TIOx.
As a result, effective Monday October 28, 2019 at 10:00 AM CET (GMT+1) the crypto exchange will disable all deposits, trading, affiliate programs, reward programs and fiat transaction services. At this time all open orders will be cancelled. The exchange will remain open for withdrawal processing until October 31st at 10:00 AM New York Time (GMT -5) to facilitate the orderly removal of all crypto assets.
After October 31st, the Liquidity Pool will continue to operate with only TIOmarkets, which will fund the LP, for the time being.
trade.io is not going out of business — your assets are safe and secure
We understand there are many questions which our loyal TIOnauts have. Please see below to find answers to some important questions:
Is trade.io Going Out of Business?
Answer: No, trade.io is not going out of business. The crypto exchange will be archived securely and pending the financial opportunity will be reopened at a future date.
Why hibernate the exchange?
Answer: This is purely a profit and loss decision. Despite the success of our re-launch, it has become clear to us that in current market conditions the exchange is a long way from turning a profit
We hope this email finds you well.
The last few months have seen many changes on both the front and back ends of the trade.io exchange. For over a year now, the Liquidity Pool has been effectively operating; we are proud to confirm total overall payouts to-date of over half a million dollars. Meanwhile, over the course of just a few months, our FX branch, TIOmarkets has been launched, has shown exponential growth, week-on-week and is now the primary contributor to the liquidity pool. The management team has been engaged in ongoing business-critical decisions regarding how to drive value in the Liquidity Pool and in its TIOx holders. It has been decided, therefore, to put the trade.io Exchange into hibernation mode in order to focus resources in the profitable portion of the business — TIOmarkets, thereby investing more concretely in the future of the TIOx.
While this is a success story for TIOmarkets, this will mean a temporary suspension of the trade.io exchange for now.
We wish to directly reference the three key areas that have been raised by our veterans repeatedly on our community channels, which we also believe to be contributing factors towards the decision to put the exchange into hibernation:
Fake volumes, scam projects and the vast unregulated crypto environment have not been tolerated at any point by the trade.io management team, however are contributing factors towards the success of competitor exchanges
We are faced with the prospect of spending huge sums of money on marketing, realizing that, even were we to do so, we might not be able to reach our volume goals without resorting to wash-trading, scam coin listings and other dubious methods our competitors use to inflate their results. We simply refuse to go down this path.
Infrastructure costs needed to compete and exceed competition are quite high in an industry operating with cutting edge technology. To date, the exchange has operated with a lean and agile development methodology in order to keep costs low and maximize LP distributions. Getting ahead of the competition in terms of features and functionality would result in significant capital expenditures to expand our development and infrastructure resources. Thus negatively impacting LP distributions.
Despite the plethora of factors that have led us to where we are today, we believe that everybody will agree that from day one we have operated as a regulated exchange and have had the honorable intention of making all of our business activities a success for our pre and post ICO investors.
We are proud of the potential success that TIOmarkets will bring to our supporters. We are proud to continue offering daily payments to members of our liquidity pool, without interruption, despite these latest business decisions. Our top priority has always been and will always be our TIOx holders.
Here is some more information on what will happen now:
trade.io is not going out of business, we are simply putting the exchange into a hibernation mode until the crypto environment conditions improve.
CEO William Heyn, COO Roy Gutshall and CMO Chris Psallidas will be staying on with the project and will continue to provide strategic support, moving forward.
It has always been the intent and motivation of the trade.io management team to increase the utility and value of the TIOx. Since the end of the ICO, several projects have been embarked upon to drive the value of TIOx. The two most successful of these projects have been the LP and TIOmarkets . By putting the exchange in hibernation and refocusing, we expect to unlock more value, reduce costs and concentrate on the best performing products the group of companies has to offer. We hope that the net effect will be to eventually increase LP payouts and as a result the value of TIOx.
As a result, effective Monday October 28, 2019 at 10:00 AM CET (GMT+1) the crypto exchange will disable all deposits, trading, affiliate programs, reward programs and fiat transaction services. At this time all open orders will be cancelled. The exchange will remain open for withdrawal processing until October 31st at 10:00 AM New York Time (GMT -5) to facilitate the orderly removal of all crypto assets.
After October 31st, the Liquidity Pool will continue to operate with only TIOmarkets, which will fund the LP, for the time being.
trade.io is not going out of business — your assets are safe and secure
We understand there are many questions which our loyal TIOnauts have. Please see below to find answers to some important questions:
Is trade.io Going Out of Business?
Answer: No, trade.io is not going out of business. The crypto exchange will be archived securely and pending the financial opportunity will be reopened at a future date.
Why hibernate the exchange?
Answer: This is purely a profit and loss decision. Despite the success of our re-launch, it has become clear to us that in current market conditions the exchange is a long way from turning a profit
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