ExchangeCoin Status Update

Dear ExchangeCoin fans, lovers, users.

It looks like ExchangeCoin is on a rut now and my task is to get it through this challenging time. We are very close achieving most of our targets but yet so far to meet them. Cryptocurrency markets were not spoiling us for the last year, but it’s not an excuse to give up.

The first thing which has to be announced is our second CEO resignation. Sylwester decided to “leave the building” and change his life goals. I want to thank him a lot for his efforts, engagement and ideas which got us that far with ExchangeCoin. I’m sure he will release at least a short statement saying goodbye to you.

So ExchangeCoin goes back to the full roots where we started, we are the team of two people wanted to get our job done at the end of a day, and that’s our primary goal.

We also put on hold our co-operation with Pragmatic Coders for the only reason – we cannot afford it now. We are still in good contact with them, and they are helping us a lot with advisory and some tips if we ever need help from them. What comes with this – our EXCC-DEX is on hold for now, until we will get back on our feet.

The other team responsible for Xult is contracted until they will provide the latest, upgraded core for Xult. In the meantime, we have discovered several minor bugs which caused extended maintenance on Xult as the safety of your money matters the most for me. I’m actively monitoring the situation and keeping you updated mostly on Telegram or Discord so please watch those spaces for the most up to date news.

All of those sounds like, but despite the facts, I’m still optimistic. Because there are only two of us in the team, things are going forward slowly but still progressing. So here is the draft of the latest plan I’m putting in life:

  • ExchangeCoin is now fully funded from my pocket that’s why we cannot afford new listings/more developers/etc.
  • I’m securing money to keep the whole operation running for at least another 12 months.
  • I will focus on getting our products to work correctly for us and start earning to keep ExchangeCoin up and running with no flaws.
  • I’m moving whole ExchangeCoin environment to some cheaper place than AWS so you might observe some downtime of our services like an explorer, staking pool or mining pool but most likely I try to do the “switches” invisible and users won’t get affected. Also, Xult environment has been updated and will be much cheaper to maintain.
  • Xult is in the maintenance mode until the developer’s team will find and address issues with commissions which turned up after the failed update. I cannot tell exactly when will that happen as it doesn’t depend on me. Also, our Xult team is much smaller so things are going slower than they should.
  • After Xult is back online we will have to perform another maintenance but in about 1-2 weeks, this time update will be personally tested by me and such a drama like is happening now, will not happen anymore.

So this is what I’m doing now, but it’s not all that is planned:

  • We are working on some small product which should happen quite soon, within a month or two, more details will come up. It’s nothing fancy, but I think I can fill some gap on the market with it and find some sweet spot for it.
  • More listings on Xult and more enhancements after we will do the upgrade.
  • The promised v2 version of Xchange.me – we are slowly working on several parts which will be part of it.
  • Much more integration between Xchange.me and Xult.com when we will get more liquidity.
  • Creating cryptocurrency multi wallet, not sure if that will fit into Xchange.me or that would be a separate product.

This is just a brief description of what I’m trying to achieve. One thing I can promise from this place that I will not abandon this project, ever. I won’t stop until the very last investor will be happy with the performance.

If you are willing to help, please catch me on our Telegram, Discord.

I wish you all the wonderful day.

Wiktor Głowacki
ExchangeCoin CEO

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