Update #40: Organizational Structure, Proposal Coming Soon and Token Challenge Update

Posted by The Bullex team on Jun 13, 2019 2:19:26 AM
The Bullex team

This week we have a development update on the recent maintenance as well as a newly revised organizational structure. We're also sharing a few details of the proposal we've been preparing and now plan to release with the financial report. Lastly, we've got a quick update about the token challenge.

Development Update

As always, a change log of updates pushed out by the Bullex team can be found here. Note that this change log may not include items that were resolved during maintenance sessions completed by the AP team.

Work has continued on the web shop and we're getting close to a point where testing can begin on the final design! All portions have been tested in isolation, and now we need to put all the pieces together and test the complete design and process from start to finish.

An issue was identified where you could place multiple orders using DRPU as the fee payment option and end up with a negative balance when all orders executed. For example, assume you place two limit orders and each order requires 1 DRPU for fees (2 DPRU total), and you only have 1 DRPU in your account. When both orders execute, your balance would be -1 DRPU. This was a way to exploit the system and cause all sorts of headaches, but our most recent maintenance has resolved the issue. Now orders will default to normal rate fees without the discount if you run out of DRPU. Long term we plan to add notification, or something similar, if you're placing orders that will drain all of your DRPU balance.

We've also resolved the order timestamp issue that caused all orders to show a timestamp of the current time no matter when they were placed. All orders placed before the maintenance on June 10th may still show incorrect timestamps, but all future orders should be accurate.

There is not yet an update we can provide on the Grand Opening date of Bullex.

Further Staffing Plans

We're continuing to grow our team as we prepare for the grand opening! We have a new developer/support personnel joining us at the end of the month. He's been around as an investor for quite some time, so a lot of you will probably recognize him. We have also hired Ami, our new CMO (chief marketing officer)! He will be responsible for the development and planning of marketing activities, owning the marketing campaigns, making creative initiatives across digital and other channels, and driving user conversions and exchange adoption as a whole!

With the increase in staff recently, we've decided it was necessary to reorganize Bullex. Note: This does not affect the organization of DCORP. We are still a relatively small team and continue to wear many hats, but below you will find an organizational chart showing the main roles and our overall staffing plans for Bullex. FTE stands for "full-time equivalent," so team members may work part time overall, part time in a few different areas adding up to one full time equivalent, or full time in one area.Organizational Structure

 

Financial Report and Proposal

We have made the decision to release the previously discussed financial report as an appendix in a proposal we have been working on. The proposal will be released as soon as possible with details of the finances and details on how to vote on the proposal. Only DRPU and DRPS held in wallets that have been whitelisted with dcorp.it accounts will be counted in voting, so please be aware that DRPU held on Bullex will need to be moved to a whitelisted address before voting. Wallet balances will be captured at the end of the voting, so please hold the DRPU/S in your whitelisted wallet until confirmation that the snapshot has been taken.

If you're new to Bullex, and aren't familiar with DCORP, head on over to dcorp.it and make an account! Note that this is a separate account from your Bullex account. You will need to complete KYC on the DCORP website even if you're already verified on Bullex. If you are interested in participating in the vote, please start this process as soon as possible to ensure your account is ready before the vote has ended.

Token Challenge Update

The decision has been made to extend the token challenge by approximately one day, and we're considering further extension after evaluating the effectiveness of the original campaign. Check Telegram and social media for more details when they're available. There is still a significant number of DRPU available to be earned in the challenge, so it's not too late! If there is DRPU remaining at the end of the challenge, we will determine the most effective use of those tokens at that time.

Closing Remarks

In case you missed it, you can find our last update here and the feed of all our recent updates here!

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:

Thanks for reading and happy trading! Love Bitcoin, join the Bull.

 

 

Topics: Bullex, Crypto Exchange, DCORP, Conversion, DRPU, token challenge, proposal