FSA(Fee Split Allocation) has been our main defining feature ever since the start of the exchange. We are pleased to announce that daily FSA will be implemented by the end of next week.
For new readers, a quick refresher: 50% of trading fees on COSS.io are distributed to COSS token holders via the FSA. If you store COSS in your wallet on COSS.io, the allocations will be done automatically. If you store your COSS tokens in an external wallet outside COSS.io, e.g, in MyEtherWallet, you would have to set up a smart contract identifier to receive your FSA. You can distribute tokens from the FSA through your COSS back-office by going to the FSA page. Here you can simply click the green distribution button behind each token and then chose to distribute directly to your COSS account as a normal deposit and/or to any external wallet of your choice (see image below).
Congrats to the winners of our last Guess the coin contest!
It was Genesis Vision and STORJ. Trading is now open on the BTC, ETH, and USDT pairs for these tokens.
Do take part in our next contest and good luck guessing this one.
About Genesis Vision:
Taken from their FAQ: Genesis Vision is a decentralized asset management platform built on blockchain technology. It’s designed to connect people who want to trade (or access the investment landscape) with individuals who actually know how to trade. Genesis Vision investors trust their funds to Genesis Vision managers, who trade using the pool of attracted funds, subsequently sharing the resulting profit with all of their investors at the end of a set period (set individually by the manager).
Storj offers a decentralized cloud object storage solution that allows the user to store their media in a secure and private manner. They have also started sending out invites to storage node providers to join the latest version of their network, which will incentivize providers with STORJ tokens.
CFT has entered the exchange with open trading.
The following pairs are now available:
General COSS news:
A lot is happening at the office these days with all staff hands-on to make COSS what we want it to be.
Dev is currently in the process of integrating the CNY payment option so we can add CNY trading pairs on COSS. Do have in mind that these implementations are not done in a day. It involves both deposits and withdrawals and needs to be thoroughly tested before it can be pushed to live.
Another topic that is very much asked about is Liquidity providers. This is also a process that takes time. Very strict corporate KYC processes are in place from these providers as regulations and banking relationships need to be maintained. We are in constant dialogue with SNAP innovation and we are hoping to see some progress there in the weeks to come. We are also happy to say that we have gone through the corporate KYC process and finally got approved by yet another liquidity provider in B2C2. Again, this is a process that takes time and at this stage, our Dev team is exploring the implementation process and we are following up with B2C2 on full API implementation. We can't give any defined timeline for when these services will be activated due to the complexity of the process and the importance of proper testing. These are just two of many actors in the field that we are currently speaking to.
Already mentioned at the start of this medium, but worth repeating. FSA will change from weekly to daily by the end of next week. Have in mind that you can distribute at will and accumulating over time makes perfect sense due to the fees for calling the DAO.
There have also been hefty discussions in our telegram group over the past days/weeks regarding trading fee structure. An option that constantly comes up is to switch to minus fees for order makers (at certain volume levels). This is something we are looking into, but we haven't made any firm decisions yet and we will update you once we have more information regarding this.
Marketing is also a hot topic these days and we are still rolling out several campaigns. Latest is our press release regarding the CFT token which amongst other places can be found here:
As well as on all our social media channels.
Speaking of Telegram groups: We normally don't like to announce coming announcements as that easily can be mistaken for hyping up our own project, but it has already been mentioned in our chat that our next Medium will be of great importance to the entire community. Next medium is scheduled for April 24th, so make sure you come back and read more then. A lot is going on behind the scenes and countless hours are being put in. Sometimes we feel we go full throttle 24/7 but without visible results outwards. Things take time and although we wish we could have groundbreaking news on a weekly basis, we simply cannot. But we are now preparing to give you a lot more detailed roadmap and share our future plans, but do have in mind that in this fast-moving industry even a roadmap is a living document and always subject to changes.
Again speaking of our telegram group. Our beloved admin Mr. Jared who most of you know through the channel and also through his contributions to the video contest (see below) once made a deal with our CEO. Once we hit/passed 10M trading volume he would get a personalized Coffe Mug from Rune. Well, the time is up for putting the money where the mouth is:
Jared: The above Mug is on its way to you with an expected delivery date around April 17th, so make sure to be at home :-)
(we assume we will be flooded with requests for more mugs now)
We would like to express our thanks and appreciate to you, our community, for taking the time and effort to produce COSS promotional videos for us!
Below are the winners. Please like and share them with your family and friends and spread the word of COSS.
Some news around the crypto-sphere:
Bitcoin went on a massive run over the weekend, and most of the top 20 cryptocurrencies have seen moderate gains. Something related and important to mass adoption of cryptocurrencies in general: G20 member countries will meet to discuss cryptocurrency AML (Anti Money Laundering) regulation on June 8 and 9 in Fukuoka, Japan.
Quant Network has just launched Quant Atlas; their solution to enable cross border Open Banking. Consumers can now share bank information in a secure way, thus creating an ecosystem for companies to offer fast payment methods as well as innovative baking products.
Unibright was just at the launch of INATBA ( International Association for Trusted Blockchain Applications), standing alongside other giants of industry like IBM, Telefonica, SAP as a founding member. Read their article for more information.
Ink Protocol secures transactions on Replin, which is a thriving marketplace community on Twitter. Ink Protocol will store your seller’s reputation as well as feedback publicly on the blockchain, so you feel safer transacting with other online buyers/sellers.
The Ubcoin Market app has reached important milestones in development, and they are doing an active marketing push in Asia to welcome more users to their app. They are offering 1000 UBC to all new users after they buy or sell something in the Ubcoin app. Check out their app, released for both Android and IOS.
Stay tuned for more updates!
Join in the community at our various channels :
- Telegram Announcement Channel : https://t.me/COSSchat
- Telegram General Discussion Channel : https://t.me/myCOSS
- Telegram API/Bot Discussion Channel : https://t.me/COSSAPI
- Chinese telegram: https://t.me/myCOSSchinese
- Facebook : https://www.facebook.com/cosscrypto/
- Twitter : https://twitter.com/cosscrypto?lang=en
- Reddit : https://www.reddit.com/r/CossIO/
- YouTube : https://goo.gl/hd6tBg