Greetings to Twogap Community,
Latest updates from Twogap:
“We proactively extend the listing date on Bitforex to July 18th, 2019, which was mentioned earlier, to make time for another exchange with higher liquidity where Twogap will put on priority when listing.
Any detailed information will be informed by Twogap to all value investors.”
As the aforementioned information earlier, Twogap has contacted and had a discussion with Liquid from Japan. Due to the strict regulatory framework and long-lasting project appraisal process, the final decision on the project is not yet to be released. Liquid is one of the dominant exchanges in the Crypto Space which is trustworthy and famous for its volume of transaction and advanced technology. For this reason, the strict appraisal process is a must-have for any project to be listed.
Additional information about Liquid exchange:
- Liquid is one of the first exchanges in the Crypto industry which was founded in 2014
- Liquid has never been hacked before due to a high secured system.
- Liquid commits to the highest security for investors by storing fund of traders in cold wallet.
- All transactions on Liquid are 100% genuine (none of wash trade). Liquid is always the world top 5 exchanges on https://bti.live, being runner-up after Binance for one time.
- Liquid is the exchange having the largest amount of fiat trade pairs in the world.
- Liquid got the largest number of corporate accounts in the world.
- Furthermore, Liquid and Quoine (its parent company) is a leading pioneer of technology development in the crypto industry. Liquid owns Deeper Liquidity Technology and Multi-Market Order Technology.
Being trustworthy and famous for its volume of transaction and advanced technology, Liquid has applied the strictly selective project appraisal process of IEO and Listing. For this reason, projects which are potential sometimes could not go through the whole process of Liquid, like Binance. Within the process, any lack of documents or shown weaknesses at any stages could be able to kick the project out. Process of appraisal:
- Team: should show proofs of expertise, manners, experience and achievements in the past of founders. The lack of this factor could bring the project to failure at the appraisal process.
- Business Model: is it possible? Did it get any customers? Is the market segment volume attractive enough? All of these factors should be proven with clear details.
- Technology solutions: Factors such as Technology content, Product versions (officially launched version, Beta, Alpha, etc.), GitHub, Know-how would be dramatically considered. The low potential of development or difference between testing and description happened will fail your project.
- Whitepaper: is a basis to evaluate dimensional scopes of project, business model, the potential of development, technology capacity, token economic, roadmap, advisors. Any lacks or unsustainable states of the project also be able to lead it to failure.
- LO - Legal Opinion: the trustability of legal firm which advises on compliance, to-be security-qualified check of the token are also considered. In the case Token Listing Review Committee of Japan did not license, the project would be rejected.
- SC Audit (Smart Contracts Audit): In case the project is not able to comply with requirements and to ensure safety, the project will be rejected.
Due to the strict appraisal process, Twogap has made a fully detailed preparation which pushed our project to get through rounds of the appraisal. However, there are some reasons that kept the result to be pending at the time being. On the contrary, this did not drop the potential of Twogap but actually push the team to make further detailed preparation to execute the most appropriate backup to catch up with the planned roadmap. We would inform any latest news of the project to the Twogap Community within the soonest time.