COSS.io Update November 19th 2017
In this update we will be sharing some updates regarding www.coss.io and the road ahead.
1: Current state and ongoing fixes.
2: The very near future.
3: The longer term perspective.
4: General updates
1.1 The existing UI.
In our community we have had many discussions regarding the current UI on the coss exchange. This is something we now have spent some time on and evaluated. To build a brand new UI will take some time, and it is not just to put a new skin on top of the old one. It need to interact and work with the current engine, API’s, login and wallet features etc.
So the short term solution to the current UI will be to make some quick fixes on the most crucial areas on the old one. The 24H high/low has now been fixed. We also want to change from ranking tokens/coins by units to being ranked by BTC/USD value. This is short term. Other short term fixes will be to add better graphs to the site. We will also alter the color scheme on the exchange to make it “easier on the eye”
The the big question remains: HOW much time and effort should we spend on these short term fixes when we have better things coming in the (2) very near future……. to be continued in section 2.
The team: Hiring and ongoing changes.
As you all have been made aware of, we are constantly aiming to increase the team.
We are currently working close with 3 IT teams in order to improve the site.
1 Team from Romania, 1 Team from Singapore and 1 Team based out of Amsterdam. In addition to that, we are seeing breakthroughs and progress with in the in-house recruiting for added staff to the Singapore HQ.
We have already added CS staff (started already) and Compliance staff(on-boarding this month). We have also found some skilled IT that hopefully will join the Singapore team very shortly.
While talking about team, we can address a common question from our community channel: Why cant we see coss on all of these team members linkedIn profiles?
Well, the answer is simple. Team doesn't equal staff. In this very young industry you will find many people being involved in multiple projects where they are all part of the TEAM, but not necessarily hired by the company. For example you don’t HIRE people to be on your advisory team. If you outsource part of your IT, you might include the owner of that IT company and/or the project manager into your team, BUT they are still not your staff. They are simply responsible for that part of the project. For the very same reason you have seen and will see a lot more in the future that there will be changes in the team. Some will be added and some will be removed. Some simply move on to other projects, some seek opportunities elsewhere and some take on other roles within the same company.
As a company, although transparent, we don’t see the urge to inform the entire world every time we do a change within our staffing. As in most companies there will be staff that are more public than others, but that doesn’t mean that the ones you don’t see so often is less important in any way.
Summary short term:
● Better display of information regarding the fee-split allocation;
● Fixing the 24h high/low display on the exchange;
● Fixing the rank of tokens/coins display in USD and BTC;
● Adding graphs to the current UI (trading view);
● Considering the FIAT withdrawal options for ETH and BTC. Awaiting new frame work from regulators.
● Considering USDT (TETHER) listing.
● Processing the feedback regarding the UI prior to introducing the brand new one;
● Revising the roadmap and making arrangements for the deployment (in Q1 2018) of a new more efficient exchange engine with improved trading/speed features and volume;
● Shortlisting tokens with regard to the community’s feedback and requests;
● Establishing collaborations with several companies running ICOs in the nearest future including promos/airdrop, launching ICOs on COSS, etc.
● Headhunting frontend and backend developers in Singapore;
● General bug fixing;
● COSS PROMO.
- The very near future. What do we mean by that timeline?
In the very near future for use is during the coming 3 months. As it is easier for us to deal with milestones on a quarterly basis. But no need to panic, we mentioned UI already, and you will not have to wait 3 months before you see much bigger changes than the fixes mentioned in section 1.
So lets have a look at what we have been working on so far. Do have in mind that this UI is made to initially go on top of the old engine, so not all functions displayed will be operational before the next stage with a brand new exchange engine (section 3)
This UI and its functions is mostly build with the current features in mind + with the new engine and other features well planned for.
Some of the features displayed in the design we may or may not launch at all. This is due to the fact that Concurrency exchanges will fall in under the new frame work being worked on by MAS in Singapore. So before we launch any new service we will obtain a full legal opinion and make sure it is ok to operate it on a Singapore based exchange.
When we now display the current design proposal, we would also like to seek your feedback. Feel free to visit #announcement-coss on our slack channel and post your comments.
Just a few more close up pictures of the above:
In addition to the improved look and feel of the exchange itself, we will also soon present new design proposals for the homepage of coss.io
3 The longer term perspective.
In the beginning our road-map were VERY wide, and we received a lot of feedback that the entire project was simply overwhelming. Over time we learn, and over time we adapt. These feedback's were all well received and we made a corporate decision of a change of focus. Let us build a strong exchange first that we all can be proud of, then once we are 100% satisfied with the exchange, we start adding focus to the payment-gateway/POS and other features. In short: We decided to become GOOD at something instead of mediocre at many things.
Longer term means during 2018 and beyond.
With and ambitious goal, we aim to have a new engine presentable at the end of Q1 2018. This might be a bit short time, but we at least aim to have it ready for testing and viewing by then.
4 General updates.
This list could be very long and especially if we were to address all the queries from our community. But lets not do it all in one day.
Here are some of the latest updates.
As you have noticed there will be multiple ICO’s accessible through COSS.io
Some with added features and bonuses and some with simply trading promos.
Here are a short list of the upcoming ones:
For all of the above ICO’s there will be trading promo’s once they list on coss.io
The 50 top volume traders of each specific token will share a nice pool of the said token. Estimated ICO value of the pools $30–50,000USD for each token.
For Dropdeck, LalaWorld and Aditus there will be an added 5% on top of all existing bonuses if bought through the coss.io platform.
On top of this we are also discussing with many many more upcoming ICO’s and we estimate that we could easily offer 4–6 ICO’s per month going forward.
ONLY KYC approved coss users will be able to participate in the ICO’s through coss.io
And all tokens will be trad-able on coss.io from day one of release.
And, YES we will make the ICO site more visible :-)
This is only step one in the progress of offering validated ICO’s through the platform, and in the future we will also see more exclusive ICO’s offered ONLY through coss.io
We will also work close with the upcoming ICO’s and target to make some of them committing to exclusive trading on coss.io for the first 30 days (at least)
This strategy might be altered a bit as we are also working on strong alliances with multiple other exchanges.
Fin-tech week and the SUSS conference was just concluded here in Singapore and it was a huge success. And now we are all looking forward to the next big one in BlockShow.
COSS were actively involved in the conferences by hosting panel discussions at the SUSS conference and also by co-sponsoring the ACCESS membership afterparty. ACCESS https://www.access-sg.org/ have grown from only 9 companies in its first year to well over 100 companies now in its 3rd year.
These 100 companies gathered at SKYLINE lounge in Singapore for the official party and ACCESS members could for the first time purchase refreshments through the COSS POS system.
We only added ETH as option for this pilot project, and it worked perfectly.
The POS will also be available at the official after-party for the upcoming blockshow at the same venue.
Some had questions why they could withdraw the entire balance of MOD (temporarily de-listed), and the answer is simple: The MOD token wasnt created with decimals.
Over the past weeks we have since tokens such as WALTON (WTC) and HYDROMINER (H2O) being added to the exchange, and we are working on adding more and more. We have very strict policies to add new tokens, but we will aim to be early adapters of many popular ICO tokens. We are currently increasing staff, and once we have some more room to breath, we can designate people to handle these tasks. Currently we need to take time from other parts of the project for any new thing that pops up.
Rounding off today's update with the winning design of the Christmas Mug promo.
Details on how to get yours will come in the next update.
The COSS Team.