COSS.IO January 30th updates
- COSS development updates
- Revised Dates for CFT
- Thoughts from Binance Blockchain Week
- Company well-being
- Distribution failed prompt
- Marketing announcement
- Milestone updates
- E-learning
- Work in progress update
Hello everyone, some updates from COSS.
COSS development updates. On the business side, we have been busy making strategic partnerships and onboarding institutional investors to our platform. We will make separate press releases if/when we can release more details.
The CFT token sale has been revised
In short, we haven't really revised the timeline yet.
The first token burn will still take place on March the 1st and we still aim for trading to start towards the end of March. We do, however, emphasize on aim as there are many deals on the table in regards to funds taking up allocations for sale, market makers taking positions for future volume trading, private investors etc. We do wish to launch a solid token that can be of great value to our users. The trading fee discount model of the tokens itself somehow create an addiction as users will get used to a lower trading fee, but every time a CFT is used as a trading fee, half of it is returned to the users through the FSA. By this reduction on every usage and an increasing trading volume and active userbase, we do foresee an increase in demand of its utility. Add to that a fixed monthly burn of 1 Million tokens regardless of value.
We do not hold a crystal ball, nor can we predict the future, but we do strongly believe in our product.
So unless anything else is announced we aim to stick to the dates above.
Thoughts from Binance Blockchain Week
Many interesting events over the past few weeks in Singapore, with the biggest one being the Binance Week.
So, what did we take away from these events? We did have a lot of interesting meetings during the events. Being a Singapore based exchange with a high focus on compliance sort of attracts many players in the field these days. We did formalize several agreements that we will see the result of during the next few months. But we also got a very good picture of where the industry is these days. ICO’s are NOT dead, they are simply fewer and better. This I do believe we can thank the ongoing regulatory talks for. We also heard that many of the old ones are struggling. Some are shutting down while others are downsizing and cutting cost. The wild-west of 2017 is definitely over, and the entire bearish 2018 has made its marks.
Also a lot of ongoing talks about security tokens and security offerings. We also note that by the increased amount of “STO advisors” popping up on LinkedIn and various other channels. Be careful is the only thing I want to add here. Securities are already heavily regulated, and just because you did an ICO in 2017/2018 It does not mean you have the skills to handle securities. We at COSS have clearly stated that we are monitoring the evolvement of STO’s, but for those that think we can turn a switch to trade security tokens, you are VERY wrong.
If you stepped wrong during an ICO, you might end up with a lousy product, not the correct team/staff and/or many other reasons to fails, but step wrong in an STO and it might be a criminal offense. Seek proper legal guidance and proceed with caution.
We also attended other events more specific to STO’s with a more legal presence in the panel discussions. These events were very interesting and it is definitely the “flavor of the month” here in Singapore.
Rounded up these events by listening to the very skilled Karthik Iyer at the Science Park talking about tokenomics, STO’s and the various types of token models during his 2-hour masterclass on the subject. Highly recommended session.
Company well-being
Hot topic in these bearish times.
We are well placed in Singapore and although we have been using a lot of outsourcing in our work, we are now at a stage where the majority of all development is done in-house. We are still hiring and growing the team. COSS was, from the very beginning privately funded with an addition of a fairly modest token sale in 2017.
With the ongoing sale of CFT tokens, this will obviously boost our ability to grow at the pace we want. During January we have partnered with several funds, marketers and market makers that have been given an allocation of CFT to sell over the next two months. With these sales in place, we should be well positioned to take us to the level where we aim to be. The CFT token is issued as a pure utility on the platform and it will be used to reduce trading fees by 25%. This utility holds great value especially for the bigger players coming in (as mentioned in the above paragraphs) but also very much so for the smaller players that currently hold the COSS token. With CFT going into the FSA circle, you already have a healthy ecosystem for both tokens.
We are currently at the 160K user's mark, but that number is registered users only. Our big task now and directly related to the next topic regarding marketing is to bring back as many as possible of these 160K in addition to onboarding new users. Because of the old 1.0, we are fully aware that we have had a significant drop-off in users, but we still retain a very healthy newsletter subscription. With increased marketing and awareness about our new exchange, we aim to bring back many of these users.
We are also aware of some users getting a failed Distribution prompt. We have investigated, it is a User Interface(UI) issue. and it will be fixed as soon as possible.
We are pleased to announce a new partnership with Ikon Media, who would be creating an extensive range of marketing activities for us. They are an exclusive company who works only on a referral basis (thanks Jetcoin!), and COSS is pleased to be able to work with them to increase our outreach.
A strong marketing campaign will start already early February 2019 and the cooperation will be an ongoing venture between the two companies.
Some of the activities include :
- PR stories /Articles
-Influencers campaigns
-Social Media campaigns
-Private Events
-Participation in relevant blockchain/cryptos conventions
-Trading promos
About Ikon Media:
Ikon Media is a creative consultancy serving a wide range of international brands and runs targeted campaigns in local, regional and global markets. Our team has extensive experience providing creative and marketing solutions for global brands such as Panasonic, BMW, Lexus, Olympus, Daikin, Cadbury, and many others.
Against the ever-evolving spheres of technology and media, Ikon has embraced the blockchain space and since 2015, has developed customized strategies to help blockchain projects deploy, raise their profiles and increase their user base. Some of these strategies include investor introductions, pitch-deck design, youtube campaigns, influencer campaigns, international sponsorships with top UK clubs, PR and marketing services, exchange listings, advisory and roadmap planning and many more.
The launch of v1.2 was a milestone in our development and something that we are proud of. We are also glad that the reception has been positive so far. Of course, there have been some rough edges that we have to smooth out, and we are constantly working on them to deliver the best product we can give you.
In the journey to v1.2, the team as a whole has been working above and beyond the call of duty, and we’ve decided internally that has to change.
Internal goals and sprints have been set, and features will be launched/announced accordingly.
New features will still be rolled out, but we won’t be giving formal declarations of milestone completion until we have completed v2.0. This means we will be able to focus on feature completion rather than reaching a milestone number, and we think you would appreciate that a lot more.
We can, however, mention that the features the team is mostly focused on right now are the infrastructure for conducting trading promos which we believe will be very welcomed by our community, we are also focusing on the convert FSA function where users can convert the FSA dust into one specific token. Many features are not visible to the eyes and are more back-office related, and some are more business specific than frontend, by that we mean features such as banner management on the exchange, which for one is an information source for the users, but more so, an income sourcefor the company.
A new feature coming up soon is our new Crypto-learning section/sub-site. Mass adoption is a crucial aspect of cryptocurrency growth and learning more about cryptocurrency contributes to mass adoption.
This Crypto-learning platform will be FREE for everyone with a COSS account, which will give more people an added incentive to sign on to COSS, and bring them into the world of crypto!
That’s all for this update. Exciting things are on the horizon for COSS, and we can’t wait to share them with you.
Join in the community at our various channels :
- Telegram Announcement Channel : https://t.me/COSSchat
- Telegram General Discussion Channel : https://t.me/myCOSS
- Telegram API/Bot Discussion Channel : https://t.me/COSSAPI
- Chinese telegram: https://t.me/myCOSSchinese
- Facebook : https://www.facebook.com/cosscrypto/
- Twitter : https://twitter.com/cosscrypto?lang=en
- Reddit : https://www.reddit.com/r/CossIO/
- YouTube : https://goo.gl/hd6tBg
