OTCBTC 2018 Q4 Operation Report And OTB Buy-Back

Dear OTCBTC users,

According to OTCBTC white paper, we use 20 percent of our quarterly profits to buy back and burn OTB.1461754.82758825 OTB will be bought back and burnt in 2018 Q4 (2018/11/01 ~ 2019/01/31), in line with the business performance.

The burn was executed on 2019/1/31. check the burn record

Major New Features

• 2018/11 GXS mainnet was upgraded according to its official technical solution and renamed to GXC (GXChain).
• 2018/12 OTCBTC supported new forked coins: BCHABC, BCHSV and reopened deposit and withdrawal of them.
• 2018/12 OTCBTC introduced Business Plans to provide better services and faster withdrawals. These upgraded merchant services include different plans to satisfy the needs of different users, including Professional Plan, Team Plan and Enterprise Plan. For our loyal users, we have given them an extra trial period for thanking their supports.
• 2018/12 OTCBTC’s new payment settings feature was introduced, once users finished upgrading to the latest version, they will have a better OTC market experience.
• 2019/01 OTCBTC extended the No Offer Fee promotion for another six months to thank the great support to our OTC market from users. This promotion starts from 00:00 on 1st Jan. 2019 to 23:59 on 30th Jun. 2019.
• 2019/01 OTCBTC upgraded its wallet system to support Ethereum Constantinople Hard Fork.

Advanced Risk Control System

2018/12 OTCBTC’s Risk Control System was fully upgraded, it can actively detect and intervene in the abnormal behaviors on the site, automatically freeze the suspicious transaction and lock the suspicious user wallet, which significantly increases the security of the trading between users.

Forks and Airdrops Support

• 2018/11 OTCBTC supported Bitcoin Cash (BCH) hard fork and distributed BCHABC and BCHSV at 1:1 ratio based on the snapshot.
• 2018/12 OTCBTC opens BCHABC and BCHSV OTC market and exchange trading pairs. Pairs that opened in the exchange market including BCHABC/BTC, BCHABC/ETH, BCHABC/USDT, BCHSV/BTC, BCHSV/ETH, and BCHSV/USDT.
• 2019/01 OTCBTC announced that they would support BitTorrent (BTT) airdrop for their TRX holders. All TRX balances on OTCBTC at block height 6,600,000 on the TRON blockchain will receive BTT airdrop tokens.

Feature Iteration and Improvements

• 2018/11 Funds Beneficiary: improved user experience, the system can automatically populate users’ verified real names.
• 2018/11 Withdrawal: Optimized the withdrawal rules that if a user does not confirm the withdrawal email after 1 hour since they requested the withdrawal, our system will automatically cancel the action.
• 2018/11 OTC Market: improved user experience in posting offers, when user set the offer to ‘fixed price’, the system will no longer to validate the highest and lowest accepted prices.
• 2018/11 Lending Services: fixed the default sort order of lending offers; optimized the restriction conditions of posing a lending offer; added numbers of operating status in ‘My Lending Orders’; added ‘drawdown’ status in ‘My Lending Orders’ page; optimized TXT message notification when drawdown happens to users’ accounts.
• 2018/12 My Account: fixed an issue where a few users could not change their password in their ‘Account Settings’; improved new version of ‘Default Payment Account Settings’ page; improved UI layout of the mobile website.
• 2018/12 OTC Market: Updated icons for different merchant accounts, which highlighted the privilege of a merchant account; added a feature that allows users to use Binance exchange prices as anchoring prices.
• 2018/12 Lending Services: added price notification of the pledged coins; adjust the liquidation line to 55%; notify the borrowers when their orders were liquidated by text messages.
• 2019/01 Exchange Market: adjusted the accuracy to the quantity display of BTC/USDT pair so that users can view small orders.
• 2019/01 OTC Market: improved the expiration reminder of the payment settings, and system messages were sent to notify users to update their payment settings; users can set trading limitation with other merchants when creating/editing an offer. Advertisers can filter out other traders by their days of registration, advertisers can be set to only deal with users in the trust list.
• 2019/01 Lending Service: added a feature which allows users to modify the interest rate of lending orders where the rates stay the same in lending offers list and offer details page.

App Development

• 2018/11 Android OTC App (beta) v1.0.6 was released. Deposit feature was added. It allows users to manage their digital assets from their Android devices.
• 2018/11 iOS OTC App (beta) v1.2.2 was released. 2FA binding feature was added, it allows users to manage the security settings on their iOS devices.
• 2018/11 Android OTC App (beta) v 1.1.1 was released. Mobile verification feature was added, users can verify their mobile phone number from their Android devices.
• 2018/11 iOS Exchange App v0.1.1 was released, improved users experience in trading screens.
• 2018/11 iOS OTC App v1.2.3 was released, deposit feature was added.
• 2018/11 iOS OTC App (beta) v 1.2.4 was released. Mobile verification feature was added, users can verify their mobile phone number from their iOS devices.
• 2018/11 Android Exchange (beta) v1.0.8 was released, improved stability, user interaction, candlestick chart and user experience on the trading screen of the application,
• 2018/12 Android OTC (beta) v1.1.2 was released, new icons for merchant users were added, speed up application’s launch time, optimized crypto selling operation.
• 2018/12 iOS OTC (beta) v1.2.5 was released, new icons for merchant users were added, optimized the countdown experience of the escrow feature, registration email was displayed on My Account screen.
• 2018/12 Mac OTC v1.0.3 was released, new icons for merchant users were added, unuseful information on order screen was removed.
• 2018/12 Windows OTC v1.0.3 was released, new icons for merchant users were added, displaying of registration email was added.
• 2018/12 iOS Exchange (beta) v0.2.0 was released, ‘My Orders’ button was added into the trading screen, optimized refreshing of pending orders.
• 2018/12 Android OTC (beta) v1.1.3 was released, ‘Add to Trust’ feature was added, users can check privileges and trade credit of their merchant accounts.
• 2018/12 Android Exchange (beta) v1.0.9 was released, Intercom system was integrated into Android app, order details screen was added.
• 2018/12 iOS OTC (beta) v1.2.6 was released, ‘Add to Trust’ feature was added.
• 2019/01 Android OTC (beta) v1.2.0 was released, ‘Favorites’ markets feature was added, Slider Captcha is popped up when users editing offers.
• 2019/01 iOS OTC App (beta) v1.2.7 was released, users can set trading limitation with other merchants when creating/editing an offer.
• 2019/01 Android OTC App (beta) 1.3.0 was released, merchants with Team Plan and Enterprise Plan can switch real name information by using their member information.

What’s Next?

OTCBTC devotes itself to establish a safer and more superior crypto exchange platform for the industry. In addition to the continuous upgrade of features commonly used by users, it also sets up a rigorous risk control system in the background, including blacklist interception for prepaying and withdrawing currency, suspicious user warning, abnormal behavior detection, security review for withdrawing currency, real-time reminder for risk behaviors, warning of abnormal price fluctuation, etc, which is an interlocking detection mechanism. By setting up the rigorous risk control system, OTCBTC is committed to helping all users to avoid the risks of black money, frozen card, and others as far as possible; it intercepts all the suspicious transaction and escorts for all users.

OCTBTC will continue to explore the exchange security which is concerned by users, explore risk control in depth and upgrade the security mechanism, so as to make itself to be the safest digital asset trading platform in the world!

Thank you for supporting OTCBTC!

OTCBTC Team
2019/01/31