Dear community,

On October 1st, 2019, CoinExchange.io (hereinafter referred to as CE) announced they are closing down their exchange. Because CE is the exchange where most of the ALIS trading has been occurring, a lot of you must have been surprised and have a lot of questions. For this reason we feel it is important to share what we know about the matter and explain how this affects ALIS.

Before we go any further, we would like to first say that this does not mean the end of ALIS.

With that being said, let's continue.

Our contact with CE

We have not received any prior notice of the closing down of the exchange. This means that we learned about CE's decision the same time as you all, on the 1st of October, 2019. We have immediately contacted CE and asked for the following:

1) The sharing of all information needed for project teams to be able to smoothly manage project development.

2) Keeping hold of the ALIS tokens safe and secure up until everyone has been able to withdraw their ALIS tokens.

We will let you know if we learn anything new.

Regarding the withdrawal of ALIS tokens from CE

According to CE's official announcement, users are able to withdraw tokens from the exchange until December 1st, 2019. There is no mention of a timezone, meaning we can't be sure of the exact deadline, so please make sure you withdraw your tokens with some time to spare.

We recommend you keep your tokens in a wallet which enables you to personally manage your private key. Please use a ERC-20 token compatible wallet.

How does this affect ALIS?

We are sure there are people who worry about a drop in liquidity of the ALIS token as a result of the closing down of CE. This worry is more than justified. We also agree that the liquidity of a token is a very important and indispensable factor.

We think the increasing of liquidity of the ALIS token to be of utmost importance. The liquidity of the ALIS token was already below what we are aiming for, and we have been making strenuous effort to improve this. The closing down of CE does not change this fact. Because otherwise we are unable to return value the ALIS token holders, we feel strongly that without improvement of this issue, our endeavors are hindered.

In other words, the closing down of CE will not really change much to what we have been doing. We will provide some more details below.

How does this affect the ALIS team?

We mentioned this already, however, CE closing does and can in no way lead to the end of ALIS. As we announced earlier this year, in parallel with working on the ALIS platform we started monetization through offering services to other businesses (sharing our expertise and support on Serverless and Blockchain development). We will share more details when we are allowed to, however, things have been going well in this area.

Regarding listing on other exchanges

As announced earlier this year, listing on a Japanese exchange is at the moment our top priority. With our without CE.

For this reason, we are at the moment not actively negotiating with any non-Japanese exchanges. We have been approached by multiple non-Japanese exchanges, but since this poses risks to the ability to list on a Japanese exchange, we have chosen to not pursue these offers. In addition, most of the ALIS team is now working on tasks contributing to the realization of this goal. This has however as a consequence that are were not able to put in as much manpower as we would like in developing the ALIS platform itself.

Specifically, our decision to start monetizing by offering services to companies is one example of this. In the previously mentioned announcement, we have written the following:

... Listing on a Japanese exchange is not easy. A indispensable condition is a healthy cashflow of the company. ... Luckily, we have close contact with Japanese exchanges. (There are enough cases where, even though having a positive cashflow, companies do not have the expertise to create a token and/or build a community).

As explained above, the B2B activities are going even better than expected, making us believe we have made the right call to divide our manpower.

※We are very sorry for this, but we are not able to inform you about the progress regarding listing on Japanese exchanges. As I am sure most of you know, exchanges have very strict policies and we don't want to do anything that might prevent us from listing. We understand most of you are really curious, but we hope you understand.

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We as well were very surprised when we heard the news about CE and feel deeply ashamed for the anxiety and inconvenience the matter has caused.

However, as explained in this article, we are not at all discouraged or overly negative about the situation. If anything, we want to quickly produce results with our B2B activities so we can work harder on the ALIS platform and doing fun stuff with the community. In order to accomplish this, CE closing down changes nothing to how we have been operating up until now.

We are sorry for the inconvenience the drop in liquidity causes as a result of the closing down of CE. In addition, we are aware that because we are spending the larger portion of our manpower on B2B activities, it might seem we are not moving quickly enough to improve the situation. However, we hope you understand the situation and that we have been able to reassure you we have not wavered from our goals even one millimeter.

And again, please make sure you withdraw you tokens with enough time to spare before the deadline of December 1st, 2019.

If you have any questions, we are happy to answer where we can on Discord.

※

・ There are no tokens distributed to articles published by ALIS-official

・ ALIS-official published articles are not shown in the article rankings

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