Vexchange updates vtho.exchange to include support for OCE, DBET, SHA, PLA, and TIC

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Shortly after the VeChain mainnet launched, users were desperately waiting for a method of converting their newly-earned VTHO to VET. The team behind Vexchange quickly put together vtho.exchange in response. Users could send funds to a smart contract which would automatically accept and send back corresponding amounts of the opposite token. Since the service was fully automated, it had many advantages over more centralized exchange options.

The smart contract could be accessed by entering a proxy address manually or by scanning a QR code, making the use of the service incredibly simple from within a mobile app. And since the contract never changed, users could save the proxy address in the mobile wallet’s address book. This way, they could exchange funds without ever having to leave the wallet.

A few months later, they officially launched Vexchange.io. It expanded beyond simple VTHO/VET swaps to include all of the VIP-180 tokens. It also allowed users to stake assets in the liquidity pools, earning trading fees as a reward. Users could connect a Comet or Arkane wallet, making asset management even easier.

Surprisingly, despite all the added features and options, many users still enjoyed using the simplicity of the QR code and saveable address. In light of this, Vexchange decided to update vtho.exchange to support VET/OCE, VET/DBET, VET/PLA, VET/SHA, and VET/TIC trading pairs. Each pair now has its own unique QR code, which links to the proxy address of the smart contract. Traders who like to swap often between these pairs can store the proxy address in their mobile wallet address book for future use.

We wanted to redo vtho.exchange to improve the service and bring it line with our vision for the rest of vexchange. We also saw a lot of traction for the vtho swap service and wanted to provide the same Web3 free UX for other tokens. Certain wallets don’t have inbuilt dapp browsers, users of these wallets may find vtho.exchange preferable to creating a second wallet for trading

Oliver Chalk – Co-Founder of Vexchange and vtho.exchange

Vexchange’s talented development pair of Kenneth Ashley and Oliver Chalk continue to improve their projects following their success in the VeChain developer bounty back in April. They plan to add statistics in their next update to Vexchange, so that users can monitor their trades and staking rewards. With new features such as VIP 191 being updated on the VeChain mainnet, there are many new ways for Vexchange and vtho.exchange to explore as they try to make token trading more convenient and user-friendly.

Vexchange added to the Discover section of the mobile wallet

Vexchange can now be accessed through the Discover section of the official VeChain Mobile Wallet. This provides a second method of quickly trading between assets.

https://twitter.com/bsc44_x/status/1151546613891883008

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TIC price dumps over 80% after IEO, CEO issues apology

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Just days after launching an IEO on MXC, the CEO Tao Ran accepted the blame for mismanagement of the TicTalk foundation. He acknowledged that his words might make people angry, and apologized for the fluctuations experienced by the TIC token.

“I don’t understand marketcap management. I only understand investment incubation and operations. In the first few days after IEO, I was as excited as the friends of the whole community. With the efforts of the community partners and the cooperation of investment institutions, the TIC token rose 5-10 times, and the momentum made a lot of people excited.

However, the market is so cruel, the more excited you are, the more crazy you are, the more dangerous it is. If you don’t respect the market, you will definitely be educated by the market. In the past 24 hours, Bitcoin has risen by 20%, causing huge fluctuations in the price of the the entire MXC market and the TIC token price.”

The CEO Tao Ran went on to discuss how they had released 600 million additional tokens on the exchange in order to launch the IEO. In order to protect the community, investment institutions bought back 400 million tokens, spending ￥10 million ($1.5 million USD) in the process.

He later insisted that he was not running from the problem, and vowed to “serve the community for free for an entire lifetime” as he refuses to let the TIC token fail. This apology, issued entirely in Chinese, may not be enough to win back the favor of angry community members, who raised questions about the project’s ethics on social media.

Undoubtedly, the IEO was nothing more than an attempt to manipulate the token price and please investors. Having already been on OceanEx for over 6 months, there was little reason to hold an “Initial Exchange Offering” as the project should have been past the token issuance stage. Their IEO was loaded with dubious decisions, including selling tokens at 1/3 the active trading price on OceanEx. In their Chinese language IEO information guide, they claimed to be the world’s largest incubator, with more than 1 million registered users. Other questionable statistics included boasting about 200,000 high-value users and 100,000 paid app users, despite not offering any evidence or sources to support this claim.

This comes just weeks after the project announced its intention to switch from a decentralized social media project to a project incubator. While seeing an apology may alleviate fears of an outright exit scam, the damage may already be done to investors left holding the token.

5G8Hours FoundationAccentureAlessandro PalomboAlipayAMAAmazon AWSAmazon Web ServicesAnalysisAPACArkaneArtworkAwardAWSBaasBaiduBayerBig Data ExpoBinanceBitcoin

Buy VET at OceanEx
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