Aphelion Current State of Affairs June 1, 2019

Aphelion DEX
Jun 1 · 2 min read

There is no easy way to say this so we’ll cut to the chase, Aphelion development has stalled due to a lack of funds. For those of you that know the history, its well documented the development we’ve released to date as we built a world-class development team building and releasing amazing code for over 18 solid months.

The applications for desktop, mac and the mobile apps are all open sourced and the code speaks of itself. But with all that being said, those projects cost a lot of money as the developers we recruited from the worlds leading companies and paid them huge full-time salaries/benefits which came at a time when NEO had tanked by 90%; in all honestly it was miraculous that we were able to get as far as we did with the relatively small ICO we held, especially in the wake of the market collapse.

In addition to developing world-class code across all channels and fulfilling on our initial mission and vision as set forth in the whitepaper, we also contributed more to core NEO than any other ICO in history, that is a fact and also well documented. Also considering that we have iOS, Android, Web, Mobile Web, Desktop and Mac working DEX’s, I would also argue that we have released more working products than potentially any other NEO based ICO in history and certainly more than 95% of all ICOs across all chains.

But none of that really matters if the value of APH is valued at well under a cent and we’ve run out of funds. Yes, the market has recovered as we expected it to, but APH has not and because the volume of the exchange is so low we have been forced to halt development. We have budgeted to keep the lights on, the exchange open and pay the server fees and maintenance costs but wanted to be transparent in saying development has indeed paused at this time.

As an org, we still retain over 6M APH tokens and will freeze those assets and seek additional ways to fund the current development rounds of Aphelion. We are not throwing in the towel at this time and will continue to update the community on any progress we have made in partnering with additional funding sources and/or options. Unfortunately, if that fails over the next few months we will likely need to take steps to close the business.

Aphelion DEX

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