2018 has been a very exciting year for Tokenbox, but even the platform’s progressive development couldn’t resist the overall decline of Ethereum and the whole cryptomarket to more than 80%. Laying off 30% of employees, except for the team of developers, the company’s management is adapting to the ongoing downturn in cryptocurrency prices and looking for new strategies in 2019.
Tokenbox is a company that was funded in Ethereum and Bitcoin. All funds are held in crypto in order to ensure a maximum level of transparency for investors and the community. When the market has begun falling down, different options for hedging risks were analyzed and discussed internally. Because of global regulation and custody issues Tokenbox could not find a solid partner to open a bank account with. However, this problem is now solved, a license is obtained, so new options of risk management are being implemented.
Tokenbox priorities over the next months are to deliver on promises made in the white paper, according to the amount of collected funds. A designated Tokenbox exchange release is nonetheless set for January 2019. A terminal with aggregations is now being tested internally.
Despite the dramatic situation the team believes in future growth of the project and the market. That is why none of the TBX tokens belonging to the team were sold.
Tokenbox CEO Pavel Salas: “Our immediate objective is to optimize all possible costs. To those of our employees who took a pay cut we will offer a compensation — in the Q1 2019 they will get stock options and TBX tokens as a reimbursement. We truly believe that we will eventually launch a full scale platform, and we will do anything we can to achieve our goals. Right now we are actively reviewing our future strategy of growth and development.”
Visit Tokenbox website: https://tokenbox.io
Tokenbox YouTube Channel: https://www.youtube.com/channel/UC6042bTB5UCk5atwqXGf80g
TBX on EXCHANGES: YObit: https://yobit.net/en/trade/TBX/USD Bancor:https://www.bancor.network/communities/5a2ff27c4f1311000100b9e8/currency IDEX: https://idex.market/eth/tbx
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