PBL tokens no longer tradeable on KuCoin
Hello, Publicans!
As with any journey and especially journeys into unexplored territory, unexpected challenges and situations can arise.
Publica's journey has only just begun and a lot has been achieved already, but that doesn't mean that tough situations don't appear from time to time.
On November 22nd KuCoin has announced the delisting of several projects from the exchange, including Publica. The only reason behind the delisting is insufficient trade volume on the exchange.
Important information for tokenholders
Here are the important details that tokenholders need to know:
- Withdrawals of PBL tokens from KuCoin will continue to be supported until 18:00 (UTC+8) on May 23, 2019. If you are currently holding any PBL tokens, please make your withdrawal on or before the closing date above.
- You can make a withdrawal to any ERC20 compatible wallet. As it is stated, there is one year to make a withdrawal and tokens will not disappear.
- Publica is also listed on Cryptopia, as well as decentralized exchanges or token swap services, such as IDEX or swap.online.
- Deposits and pending orders will be shut off at 22:00 (UTC+8) November 22, 2018. For better management of your funds, KuCoin recommends that you cancel your pending orders of PBL tokens as soon as possible.
- PBL token trading pairs will be closed at 14:00 (UTC+8) November 23, 2018.
- In case you need any assistance — feel free to send us an email to info@publica.com
The challenge that is before us, while not to underestimate, it will not set back the project itself in any way. It only limits some avenues through which people can purchase PBL tokens.
We can assure you that Publica is always looking for new opportunities and are in constant contact with exchanges. However, we believe that it is also important to stress that Publica has raised 1M USD during its tokensale, while entrance to the top exchanges still costs hundreds of thousands or even millions of USD. We believe it’s not fair to take away money from development and marketing and put it to exchanges only to satisfy short-term goals, without having any guarantees that there won't be a similar situation we have faced with the Kucoin exchange.
This, however, doesn’t mean that we have put this topic aside. We are still putting a lot of effort to constantly search for new opportunities. We hope to bring more good news regarding exchanges in the near future.
While we are taking the community’s concerns into account and are in constant search for new opportunities, we are working towards our long-term vision.
The team acknowledges that the current trading volume is driven more by the speculative aspects, rather than by the real demand for the token. This is one of the reasons why we are striving to increase the adoption of the platform itself as we believe that will be a key factor when it comes to organically increasing the volume of the token. Therefore we are currently working to overcome several important hurdles that have to be passed in order to drive real adoption and thus provide a constant and organic demand for PBL tokens that will satisfy both, PBL tokenholders and exchanges.
The team has identified three main “bottlenecks” and is addressing all these issues accordingly:
1. FIAT gateway
Currently, there is an issue of complexity of purchasing books on Publica. That is due to the several steps that require some technical knowledge that only crypto-savvy users possess.
Our developers and the legal team did a lot of work to develop the payment gateway for FIAT that will allow anyone to buy books on the platform, without having to register on several 3rd party services (exchanges). This week we are starting to test the FIAT payment gateway and will be ready to present it in the very near future.
This week we are starting to test the FIAT payment gateway and will be ready to present it in the very near future.
2. “Side Chain”
Since every BOOK token is an Ethereum ERC20 token, sending a book is literally following the same procedure of sending any other token on the Ethereum blockchain. Time from time, we face the issue of slow and expensive transactions of books (BOOK tokens), as well as making the process of buying/sending books even more complicated since users have to pay the transaction fee.
In order to pass these hurdles, we plan to introduce a so-called “sidechain” — the PBL token will continue to do its functions but BOOK TOKENS will be issued on a “side chain” thus ensuring free and instant book transactions.
We are currently investigating several solutions to decide which one suits Publica better.
3. Introducing the PWA technology
Another important “bottleneck” that is slowing down the adoption of the product Publica is building is technical limitations on iOS devices. As you may know already, the user experience for Android and iOS device users is different, moreover, the process of buying books for iOS device users is much more complicated than for Android users. There’s a huge market Publica wants to reach, to achieve that we plan to use PWA (Progressive Web Apps) technology.
Progressive Web Apps (PWAs) are web applications that are regular web pages or websites but can appear to the user like traditional applications or native mobile applications. This will allow us to pass limitations set by the App Store and let both iOS and Android users to seamlessly purchase, read and send books using the same Publica’s app.
We want to remind everyone that Publica is a “product-first” project and that the tokens in their current state are there to utilise the blockchain technology and make our vision a reality. It should be about changing and improving the current industries to bring benefit to the society.
Building something completely new is always about being ready to face unexpected challenges and overcoming them head-on, instead of letting fear govern us. This time is no different. These circumstances do not discourage the team behind the project and we hope that our community will stay strong and supportive as ever as we continue to make progress towards our shared vision.
