Project Updates and Upcoming ICO

Nov 30, 2017 · Unlisted

Here are some updates about WCX and the upcoming launch and ICO.

Record Sign Ups

WCX now has over 1.1 million sign ups. Every month, WCX is visited by more than 2 million people, with almost 65% of traffic coming from non-English speaking countries. More users have signed up to WCX prelaunch than any other exchange in history.

API Documentation Released

We’re excited to announce the release of the official WCX API Reference. This document outlines features for both the REST and WebSocket APIs, as well as authentication and rate limits.

We’re on-boarding liquidity providers and market makers as users of the newly-released API. If you’re interested in running your trading program on WCX, let us know.

The API will open to the public along with WCX in December.

ICO begins December 1

Update: ICO Phase 1 has sold out after 24 hours.

The first phase of the ICO starts December 1st. During this phase, 50% of the remaining tokens will be put up for sale and there will be no restrictions on the amount sold per day.

The Presale bonuses will continue to apply during this phase, which will last up to a maximum of 3 days or whenever the tokens sell out.

The second and final phase of the ICO will occur a few weeks after WCX is opened to the public. During this phase, all remaining tokens, if any, will be put up for sale. There will be no bonuses.

This phase allows people to use WCX for a period of time, and then subsequently decide on their participation in purchasing WCXT. During this phase, we’ll also be issuing the ERC20 tokens for the WCXT you bought during the Presale or the first phase of the ICO. You can choose to keep them on WCX or withdraw them to an Ethereum wallet, such as MyEtherWallet.

Please also keep in mind that all token issuance is subject to identity and residence verification. The token Presale and current ICO phases are reservations of tokens, not issuance. Tokens will be issued to you based on your jurisdiction and eligibility. If you make a reservation and are not eligible to receive WCXT at time of issuance, your payment will be returned.

WCXT Updates

WCXT tokens will begin trading on the WCX exchange approximately one week after the end of the second phase of the ICO. The trading pairs available will be WCXT/BTC and WCXT/ETH.

Additionally, new benefits have been announced for WCXT holders:

  • You’ll be able to use WCXT as a base token for the decentralized exchange planned for 2018. This allows you to recoup rebates on fees and get discounts on other products, such as margin trading.
  • WCX will use up to 20% of the exchange’s profits to buy back WCXT at market price every quarter, until 50% of all WCXT sold are bought back by WCX. The WCXT bought through this buyback program will be destroyed, hence reducing the available supply of WCX tokens.

WCX Launch

WCX is slated to launch publicly in December.

We’ve been asked by some of our followers why there’s been a delay, since our initial plan was to launch in October.

We had originally planned to serve around 30,000 traders with the systems and team we had built. As of today, the amount of users who have signed up for WCX is more than 30 times that.

From the start, we’ve been focused on bringing our community the best product possible.

To ensure a secure, low-cost, and reliable experience for all users, we redesigned our systems and rebuilt our team from the ground up to meet this newfound demand. This new effort pushed back the initially planned launch date.

Today, WCX is feature-complete and a testing phase has begun. We expect this to last a few weeks or so, and, barring any unpleasant surprises, the launch to occur shortly after.

You can already get an idea of the backend systems we’ve built by reading our API Documentation.

We can’t wait to show you what we’ve been working on. See you in December!



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