Update #30: Progress Update and Feature List Preview

Posted by The Bullex team on Jan 24, 2019 2:36:16 AM
The Bullex team

This week we have a brief update on the progress of Bullex, a refresh on the remarketer, and a preview of a comprehensive Bullex overview that will provide a summary and explanation of all the features we have to offer. Also, as you can tell, we are in process of migrating to our new blog platform. Please don't mind the url; we'll be migrating to hosting on bullex.eu shortly!

We have heard your questions on when Bullex will launch, and we understand the anticipation! We believe a well executed launch is a necessity, so we can't commit to a firm date yet. However, we are getting much closer! When the few remaining issues are resolved, the team can commence testing with real assets followed by an estimated one to two weeks of additional testing on the mainnet with a broader audience. We will be starting with the previously selected closed beta testers and will guarantee a small amount of cryptocurrency in the unlikely event that any is lost during testing. More details to follow. After this testing is complete, we will resolve any bugs that were discovered and then be able to set a firm launch date.

General Updates

  • We have completed wallet testing on all assets except for one. We will test the remaining asset as soon as possible. 
  • An issue was resolved with our remarketing orders on Kraken, but we do still have a latency issue remaining. We are in direct contact with Kraken to resolve the issue to ensure trades completed via the remarketer are executed without any issues or delays.
  • Our Bitfinex remarketing account had an issue with balances not updating properly, but this has now been resolved! We do have a remaining issue with trades not executing when they should and are awaiting a response from the appropriate Bitfinex support team to help resolve this issue.
  • We are continuing to work on our marketing plans to squeeze the most value out of every Euro spent. As an example, it is not cost effective to buy ads on search terms like "buy cryptocurrency." This has a cost per click of 7 Euros! However, a search term like "how cryptocurrency works" has a cost per click of only 0.06 EUR, so we can reach a much larger audience with the same costs. This is only one example of many ways we are looking as cost effective with our marketing budget as possible.

Remarketer

In case you've not read about the remarketer or need a refresher, here is a summary of how it works. Remarketing, or the “Exchange Remarketer,” is an advanced tool provided as part of Alphapoint’s package that will link all the trading pairs of one asset and even link to other exchange’s using Alphapoint’s software.

What does this mean for Bullex? It means that we will have instant liquidity across all our linked trading pairs. It also means that liquidity will be increased across all the trading pairs of one asset. For example, assume that:

  • We have a BTC/ETH pair on Bullex, and Kraken has a BTC/ETH pair as well

  • Trader 1 has BTC, wants to sell it for eth, and has posted a limit order on Bullex.

  • Trader 2 has ETH, wants to sell it for BTC, and places a market order on Kraken that would fill trader 1’s order.

Alphapoint’s software will complete the trade across exchanges and it is completely seamless to the end-user. This is an isolated example, but now imagine that it will be doing these calculations real time across all the asset’s trading pairs and across all the linked exchanges. Hopefully you can see how this feature will dramatically increase liquidity across our exchange and reduce the number of “dead” trading pairs.

Bullex Overview

As some of you in the telegram may have seen Jonathan mention, there is an overview article, or series of articles, in the works that will provide a comprehensive view of what Bullex has to offer. You will find a list below summarizing many of the features, but there are a few things we're not quite ready to share, so they are omitted and will be included in the final article.

  • Industry Leading Security: The backbone of our exchange is operating on software proven on some of the biggest exchanges around.

  • Regulatory Compliance: We will not be moving our headquarters from country to country in an attempt to stay ahead of the authorities. Instead, from day one we will be complying with all KYC, AML, licensing laws, and any other pertinent regulations. An account that has fully passed KYC requirements is required before trading and withdrawals are permitted.

  • Dividends and Profit Sharing: Bullex will provide opportunities to holders of DRPU and DRPS (DCORP’s tokens) to share in our success. When Bullex is profitable, DRPS holders will be entitled to dividends as long as appropriate KYC steps are taken on DCORP’s main website. Due to security laws around the globe, DRPU holders are not entitled to automatic dividends, but can earn their share of the profit by completing certain tasks and completing the same KYC requirements. More details will be released on this in the future.

  • Trading:

    • 9 Supported Order Types: Bullex supports a wide range of order types:

      • Market

      • Limit

      • Stop Market

      • Stop Limit

      • Trailing Stop Market

      • Trailing Stop Limit

      • Fill or Kill

      • IOC

      • Reserve

    • Advanced Arbitrage Information: The “Orders” page provides all of the expected information on your open orders, but it also includes arbitrage calculations for each open order to alert you if there is another trade option with a more profitable outcome.

    • Linked Order Books: Many of our order books are linked to exchanges like Bitfinex and Kraken ensuring increased levels of liquidity.

    • Fully Featured Charts: Bullex includes TradingView charts on the trading page which opens up many tools for traders to utilize.

    • Discounted Trading: Our already competitive trading fees of 0.20% taker and 0.10% maker are made even more enticing with the ability to pay fees in DRPU. This provides a 50% discount so taker fees are 0.10% and maker fees are 0.05%.

  • Educational Academy: Bullex will link with our Academy on dcorp.it to provide a place for users to learn about all of the assets on Bullex and blockchain in general.

  • Rewards: You will be able to earn rewards by completing actions such as signing up for our newsletter and making your first deposit! Reward amounts are subject to change as the value of DRPU changes over time.

  • Fiat Support: Euros can be deposited to Bullex’s IBAN account using your personal code generated with your account. Euros will be traded on Bullex in a tokenized manner as EURB, an ERC20 token fully backed by the Euros. Withdrawals are support of EURB to your ERC20 compatible wallets, and if you choose to withdraw to your bank account, EURB is automatically converted to EUR and deposited in your account. USD support is in progress.

  • Linked Accounts: The option is provided to link your Bullex account to your DCORP account. This opens up the opportunity for many features in the future and currently includes functionality like the linked academy courses previously mentioned.

Cryptopia Hack

We understand that there was a significant amount of DRP and DRPU on the Cryptopia exchange at the time it was taken offline for an unscheduled maintenance. It was later revealed there was a hack with an unspecified amount of losses and they have brought in the New Zealand police to help with the investigation. There have been no confirmations we are aware of listing specific amounts of different assets that have been stolen. There has been much speculation, but this is the latest official update we are aware of at the time of writing, so it is unclear if the DRP and DRPU was or was not stolen in the hack. DCORP and Bullex do not have an official statement at this time due to the lack of official information.

Closing Remarks

As a reminder, you can join the beta via beta.bullex.eu, and in case you missed it, you can find our last update here and the feed of all our past updates here! As a reminder, we will be migrating new posts to our native blog platform.

If you’re interested in learning more about DCORP and Bullex and would like to join our community, please subscribe to, or join, our social channels:

 

If you’re interested in listing your asset or are aware of someone who is seeking listing on a regulated European-based exchange, please fill out the form here!

Thanks for reading!

Topics: Testing, New features, Open Beta, Remarketer