COSS.IO Update February 7th
Dear all. Welcome to this weeks brief COSS.IO update.
During a crazy crypto week with big correction/crashes in the market we still have had time for some humor in our community. When the crash started I got hit with the famous MAN-FLU. Which for all men around the world is the worst disease ever. It is basically the only disease that allows you to pick up a world wide compassion card. I was down for a while and only worked from home so I didn't pass it on to any of our staff. Today I have recovered a bit and I am back at the office, and also the market has recovered a bit today. So it looks like I am in sync with the market, and now we are all waiting for my full recovery :-)
Staffing:
We are happy to announce that JAY is now fully on-board as our latest in-house front end developer and together with Mong the process has already started by sourcing for additional 5 in-house devs to come on-board sooner rather than later. And with our out-sourced teams also adding to their headcount, we are finally able to say that we are seeing light at the end of the tunnel. We are seeing constant updates being pushed to live site after testing from our dedicated testing group. And many improvements are in the making.
Upcoming features like the new KYC/AML/CTF procedures will be duly announced before activation so we will come back to that part in a later update.
We will also be adding forced 2fa for login and withdrawal. Timeline for this will most likely be announced in the next update. This is to enhance the security of our users accounts. Even though 2fa currently is voluntary, we always strongly encourage all users to activate 2fa, and also to never use any exchange as your main storage of funds. Funds should be kept in safe storage in hardware wallets and only funds you intend to trade should be stored on exchanges. This goes for our exchange as well as any other exchange. Stay safe and protect your valuables.
Within the next few weeks we will also add extra smart contract wallets for all users. This will speed up deposits and withdrawals for all erc20 and ETH transactions and more importantly it will rule out wrong deposits. By ruling out wrong deposits we will finally have time to actually get through the current list and fix all the wrong deposits for those that have waited a long time. The current process is way to time-consuming and it is stealing a lot of valuable Dev time. Yesterday we had around 70 wrong deposits fixed, but there are many hundreds to go.
Also some good news that should be in place during February is huge improvements how the FSA works. The aim is to have it all done same day. Meaning snapshot, calculation, verification and distribution all done on the same day. No more need to wait until Tuesdays (or sometimes even Wednesdays) This is work in progress and the process is ongoing as the team is now elaborating on the processes . Reps from our Romanian team will be in Singapore next week and work close with our new in-house team. This is a very important step for us in the process of handing over more tasks to the Singapore team.
We have also added more staff to Praveena’s compliance team. In addition to Samuel that has been there a while we welcome on-board: Adiputera (Adi), Lim and Chris. In compliance the next step now is to hire a full time in-house legal council which grows the current compliance team to 6 and counting with even more coming in later.
In operations to cover our fresh-desk setup and ticketing system we have added Honey Aung to Gary’s growing team of dedicated support staff. As soon as a full inbuilt ticketing system is in place and even more staff is added to the customer service department we aim to cut down a lot on the current backlog for support.
On the marketing side we still haven't added more staff. This will be done a little bit further down the road once we feel we are ready to roll out our massive marketing plan.
From time to time we are doing some minor marketing, such as sponsoring events here in Singapore etc. For those interested in English Premiere League, we can announce that we will have commercial on some matches during February. This is in a co-operation with our colleagues from https://www.jetcoininstitute.com/
Jetcoin will soon announce their first ITO (Initial Talent Offering) and they are currently running a 200,000 JET trading promo on coss.io which will be divided amongst the top 50 volume traders with an added top prize to the winner of 2 VIP tickets to the World Cup Final in Moscow including 3N/4D stay at the official FIFA Hotel.
Look out for the COSS logo during the following matches in February:
The milestone from a coss.io perspective here is that the campaign from COSS’s side is fully paid in coss tokens.
There are currently 10 trading promo’s live on coss.io
The promo’s can be found here: https://profile.coss.io/trading-promo (requires login). Also follow our announcement channel on Telegram to find out more about ongoing and upcoming promo’s : https://t.me/COSSchat
Also feel free to join in on ongoing coss discussions on telegram by joining: https://t.me/myCOSS
Thats it from me today. I’ll keep it short, but will come back soon with more updates. Now it is time for both me and the market to aim for full recovery. Although I personally think that I will recover faster than the market as antibiotics doesn't seem to have the same effect on BTC and ETH.
Stay well, stay healthy and stay safe.
Best regards
Us here at COSS.IO