First of all some good news. The GuldenTrader ISO sold out!
Thanks to the community all shares are reserved or sold! If any orders are not paid by juli 1st, the shares will be put back on the market.
Good news and not so good news
Let’s start with the not so good news. GulderTrader’s frontend developer got a job at a big international firm. Alhough a replacement will start next monday it will take a few weeks before he is settled and up to speed. One of the backend developers also quit. He also has been replaced and the new developer already started testing. This means GuldenTrader is now about four weeks behind shedule.
The good news
Luckily there is some good and exciting news too. First of all GuldenTrader found a partner in none other then our guru trader Cedric Devigne! The other good news is that the legal structure will be finished by the end of the month. All of the clients funds will go into a dedicated foundation. This foundation is protected by law because of its structure. So in case of bankruptcy, lawsuit or any other emergency, funds are secure. In Dutch this is called a ‘Stichting Derdengelden’. The third part is scalability. Why is this good news? With a new found partnernership, trade volume might skyrocket. So to be scalable is a must.
As said GuldenTrader found a partner in Cedric Devigne. For those not familiar with him, he is both a security expert and an expert retail trader. The #traders channel (on GuldenSlack) buzzes with excitement when Cedric brings his periodical analysis on current markets. He is the owner of Tatch Capital Limited, an investment firm with its own coin! That coin, tatchcoin will be tradable on the new GuldenTrader exchange. Please note that this is an independent coin. Fees are not part of the Guldentrader Shares.
In short, it is a coin that will be bought back! Also know as a ‘Convertable Note’. Once sold, the profit will be used to trade on different markets, being either classic markets or crypto. See http://tatchcapital.com/
Value for shareholders
This partnership has 4 big advantages:
- Security audits
- More trade volume, means more dividends
- Trade expertise
- Together they will set up a broker portal, bringing even more volume.
According to Rogier, CEO of GuldenTrader: “When talking to traders, a lot of ideas are brought up. One that made sense to implement directly is an EUR-GTS trade pair. The GTS-NLG tradepair will be on hold for now. Why you ask? Because its easier to implement. The second reason is other coins. In the near future we will start adding more coins. So far we have a list of 8 coins that are promising. And no, we wil not say which ones! All of these coins will have EUR as a base. What we will never add are pump and dump coins. It is sometimes hard to see which ones have potential but with your expertise we will figure it out.”
- Legalities will be completed at the end of june.
- Server clusters will be fully setup by the 23rd of june
- v0.2 backend testing is completed
- v0.2 profile testing is 90% completed
- v0.2 Limit orders is completed
- v0.2 Stop orders is being developed
- v0.2 Desposits is completed
- v0.2 Withdrawals is completed
- v0.2 Frontend development, on hold
- V0.2 security, TFA, trade and bank verification mandatory.
- Overal v0.2 status, 85% completed, testing 25% completed
GuldenBites wishes both companies the best in this endeavor. It seems a big leap forward for Gulden traders and funds looking for an investment oportunity.
NOTE: Both GuldenTrader as Tatch are independant firms and have no direct strings to the Gulden project.