As we close out the month of June, I’d like to catch the community up with the latest updates from our team.
- We have been applying to exchanges throughout the month in search of the right fit for Credits…exchanges are funny animals; this one is free to list on but they require 10 pages of questions to be answered down to lines of code, that exchange charge almost $85,000 to list on and they have 8 questions and there’s everything in the middle. We have to take into account cost to list, algorithm accepted (not every accepts Cryptonight), trade volume, trading fees, country of legal service and more. With that being said, we have been accepted by a couple that we are considering and in negotiations with 2-3 more that are on our ‘wish list’…we will get there.
- Not being listed right now, is a good thing. The market has been bearish for most of the spring and early summer. Had we gone live a month ago, we’d be struggling as bad or worse than other altcoins. This is going into our thought process as well for listing…the time hasn’t been right. I’d rather wait and hit a home run than rush to the plate and weakly ground out to the pitcher.
- The coin is complete. The exchange-ready wallets are complete. Our dev team is working on mining options. As most of you know, Apple has banned apps that use phone processing power to mine crypto. I think we’ll be ok as we’re working on’virtual mining’ from mobile devices.
- Our apps are behind the current price of CRED at the moment but that should be fixed very shortly. Apple especially is not fast to act for approving apps; they do reject quickly however. Each time we submit a new build, I hold my breath until it is approved. I’ve had many ‘sessions’ with them explaining what we are and what we do. So far, so good.
- As of June 29, the current price of CRED is $0.03 and will continue to increase every friday by $0.0025 until we open for trade on an exchange(s).
Thank you again for your continued support and have faith that we’ll hit that home run as soon as it’s right, as soon as we can. Let’s hope for a bullish summer!!!