Kibo team is on the final stage of development before the launch scheduled for March

Dear friends and partners,

Kibo team is pleased to announce that we are confidently moving on schedule. We already, with high probability, can say that we will be able to complete all the work in the first quarter of 2017, according to our road map.

In this letter we would like to share with you results of our work that we have already managed to complete, as well as to remind about our plans for the coming months.

After the ICO was completed, we started to address problems that we have spelled out in the Road map. According to the results of the first audit, which was completed in early December, the need to make a number of important amendments related to optimisation of the contract work was highlighted. Possibilities of vulnerability were eliminated; and optimal functionality, which is required for management and development of the platform after the launch, was implemented.

By January 28 we were able to complete this work and now we are coming one more stage of check. If all goes well, we will begin to prepare the platform for the start, which we plan to March 2017.

Also by today we have completed the following work:

1) Two-factor authentication:

To enhance security we added TOTP, two-factor authentication.

2) Work on the tokens:

We refactored contract’s code related to the tokens, and made adjustments to match ERC20 standard; also we added some restrictions to the code, which prohibit premature withdrawal of KIBITS tokens owned by the company on the open market.

3) Wallet recovery with the backup phrase:

At the affiliate partner control panel we added ability to restore your wallet with mnemonic phrase (BrainWallet), in the case of lost financial password.

All this functionality will also be available after the upgrade of the contract at the time of Kibo platform launch.

We fully understand that right now it is difficult to watch after our work progress, the development is in the close mode and it makes impossible to easily watch after daily progress in the work on Kibo contract code.

But, despite this, we are sure that all partners understand perfectly why we don’t want to publish our contract too soon.

After completing all the stages of the work, before the platform launch, we will open access to Github, so that everyone could evaluate our work and give us feedback, which, of course, will benefit the further development of the whole platform.

We once again thank everyone for their support and believe in us. Kibo team continues to work in order to launch the first version of the platform in March 2017.

Sincerely, Kibo team