Vol 4・August 9, 2018
Everyone has heard the expression “time flies when you’re having fun,” but a lesser known variant of the saying states that “time flies when you’re building the world’s first true p2p, fiat-to-crypto exchange and marketplace for mobile devices.”
It comes as no surprise that you’ve probably only heard the one about “having fun,” but the latter statement sums up the current sentiment of the entire HAT team. In a word: busy! Let’s get right to the news and updates, shall we?
HAT Marketing & Communications
The PR and marketing arm of the company is now aggressively pursuing partnerships with top crypto influencers in the industry. We’re very confident that after having the opportunity to test our software and examine a peer-to-peer transaction in detail as it executes on the blockchain, the most sophisticated and tech savvy influencers will be very positive and enthusiastic about our product.
Following their lead, those reviewers who are more focused on the business and financial aspects, as opposed to the technology, will follow.
We invite anyone from our community with a direct line of communication to a top influencer to help us make contact. We can assure you that you will be handsomely rewarded.
We are going to start communicating more frequently with blog posts and “news flashes” on the website and using the newsletter for much more general announcements with a long-term view.
Beta Testers Now Downloading & Testing The
We are pleased to announce that our first beta testers have begun downloading and testing the latest HAT.Exchange application. For now, testing will take place on the Ropsten Testnet. We will be sure to post frequent tweets and news flashes about development and testing progress, so please keep an eye on the website and Twitter.
The sign-up form for the test group are still open. You can find it here: https://goo.gl/mqiaiC
KYC Backlog Cleared
The team has been putting in so much overtime focusing on development that we fell behind with KYC verification, and we want to apologize for that. We cleared our backlog as of July 23rd, so if you are currently still waiting for verification, please email us at email@example.com.
We hope our community will understand that in order maintain the highest level of privacy for our users, only HAT’s President, CIO, and Founder are authorized to approve KYC requests. The team continues to investigate third party KYC provider options, but we have not finalized that decision.
KUCOIN / IDEX Delisting: The Bright Side
The rumors are true: KuCoin placed the HAT token into their “Special Treatment” category due to low volume, and just a few weeks later, decided to delist us.
As troubling as this might appear at first to the community, the reality is that our business model is not built around a “token” – we are building a p2p, decentralized exchange – so while this is a temporary inconvenience, it does not represent an intractable problem: HAT tokens will always be tradeable on HAT.Exchange, and remain tradeable at ForkDelta under the symbol “HAT.”
Sean Pettersen, HAT’s CIO, explained the situation in these terms:
“HAT.Exchange is a clear competitor in this space and has always targeted trade of the HAT token on its own Exchange. Rest assured these actions have only accelerated our Open Beta release timeline, so you will be able to use HAT.Exchange to trade the HAT token. Soon you will be able to download the apps from Google Play and Apple stores respectively.”
We should also point out that for a total of just 5 months listed on KuCoin, we were charged $140,000 in BTC (10 BTC at the time) as listing fee, and 20,000 HAT tokens for trading and deposit promotions (10,000 HAT each).
KuCoin has even been caught red handed asking its clients to pump their own volume, which they euphemistically refer to as “market making activities.” See here: https://medium.com/verifyas/our-kucoin-listing-nightmare-and-why-its-the-last-place-you-should-list-3af019e4e7f6
Pettersen continued: “Unfortunately, IDEX chose to delist the HAT token as well because of pressure from outside of the exchange. Both are business decisions made in an ever competitive and tightening market vying for trader attention.”
With both IDEX and KuCoin listings suspended, CoinMarketCap is unable to receive market and price data for HAT, and this is why our website and app are showing HAT’s price as $0.00.
We will continue to update our users and community about this topic, so please watch our telegram, twitter, and news flashes.
We’ll catch up with you again in September with Newsletter Vol. 05!