June 22nd, 2018 · Alex · Updates

6/22/18 Update from CEO Alex Mashinsky

Hi everyone-

It’s been great to be in New York for the past few weeks. I’ve been working very closely with the Business Development team as we process orders from clients and talk everyday with potential partners from hedge funds to crypto funds, to banks and lending partners, to ICOs interested in lending out their crypto.

You may have seen my post in Telegram a few weeks ago talking about how we’re earning interest and using that interest in order to buy CEL on the open market. Today, I’d like to share a few numbers with you.

We have started earning interest on our investments since the end of the crowdsale and have been using interest we’ve earned to buy back CEL tokens, thus far we’ve around  731,000 CEL tokens, which are no longer on the market and now deposited into our treasury.

We will start providing weekly stats on the interest we’ve earned and the CEL we’ve bought. Over time, the supply of CEL will continue to be decreased and the demand for CEL should continue to increase with more and more lending and borrowing transactions taking place.

When exchange?

We’re still talking to quite a few of the major exchanges, but as I said in my AMA from a few weeks ago, at this time, we’re holding off on launching on the exchanges until the market recovers a bit and after we scale the total number of loans we issue. Looking at some of the other ICO’s , we want to make sure we don’t make the same mistakes.

When partners?

As I said above, our Business Development team has been grinding with potential partners around the world and we’ve got a quite a few contracts out that we’re just waiting to finalize. Once we’re able, we’ll start letting you know about the companies we’ll be partnering with.

When v1.0?

If you haven’t gotten a chance to download our app yet, please be sure to do so and also leave us a review when you have time.

    

Keith is back in Belgrade this week with Nuke doing QA and working closely with the team there to make sure we hit our roadmap goals of releasing a working wallet app (for BTC and ETH) by the end of this month.

Have a great weekend everyone.

-Alex