PLAAK Exchange Update Oct 1st ‘19
Hello PLAAK Community Members,
The time that we have all been eagerly awaiting is almost here. The Exchange is LIVE and has gone through Beta testing with our team. It will be ready for our current Exchange users to login, and new users to sign up, shortly. Our development team is spending the next few days polishing off some code and completing UI changes. Unfortunately, we have missed our September re-launch - only by a couple of days, but we’re committed to bringing our customers the best quality product, no matter what. After speaking with our development team, an executive decision was made at 10 pm AWT last night on the 30th of September 2019, to spend a few more days refining and finishing off the last 2% of the Exchange. We’re not prepared to sacrifice quality to meet expectations.
During the downtime that we have had the Exchange offline, we have taken that time to address some of the feedback that we were receiving. We have implemented some sought after features, readjusted and organised the user interface and improved the customer experience throughout.
Firstly we wanted to go through some of the new features:
- Liquidity for most of our listed assets. Based on feedback and with the help of our PLAAK-built market maker, we’ve sourced liquidity from major exchanges like Binance and Coinbase for the majority of our pairings.
- Spot Pricing has been provided in the trade window for a handful of major pairings.
- Ratio Options have been added to quickly select a percentage of your wallet holdings when placing an order.
- Asset Pricing in $USD is now available through our brand new listing of USD Coin (USDC). Users are now able to have accurate and up-to-date pricing for Bitcoin, Ethereum, Ripple and many more based on their global price in $USD.
- 24 Hour Trading Volumes in USD Coin ($USD), Bitcoin and Ethereum.
- User Dashboards display information such as recent trading activities, recent logins, total trading volumes and total deposits and withdrawals.
- Updated UI & Layout changes were essential to improve the customer experience. No more hidden information or scrolling in the trade window.
- Updated Colour Schemes in both a light and dark theme (switchable).
- Referral Links and Dashboard have been added. Get your referrals to sign up and receive 20% of their trading fees. Keep track of all of your referrals and your total earnings in the Referral Dashboard.
- Anti-Phishing Codes can now be activated in the user security settings along with Google 2FA authentication and email and SMS authentication.
- More features are in the works!
Next, we would like to address our asset listings.
After strict analysis of volumes (completed trades) and the available liquidity for all of our previously listed assets, we have determined that a handful of them were not performing adequately to justify the costs of keeping them listed. We have however, retained some assets that are essential, and others that will give value to our users. Due to the delistings, we now have room to list several new assets that ticked all of the right boxes.
Please see the below list of retained assets, new asset listings and delisted assets.
- Bitcoin (BTC), Ethereum (ETH), Eos (EOS), Ripple (XRP), Verge (XVG), ColossusXT (COLX)
New Asset Listings
- USD Coin (USDC), Litecoin (LTC), Stellar Lumens (XLM), Dash (DASH), Bitcoin Cash (BCH), Ethereum Classic (ETC), Zcash (ZEC).
- SAFEX, SKY, VRC, XRR, GO, MKR, ICX, XEM, ZIL, NEO, GAS, DENT, AUTO, ELF, GOT, ZIP, CVC, LOOM, ARN, BAT, MTN, TTC, STORJ, MTL, REP, GTO, KNC, STQ, NULS, IOTX, MCO, R, BZ, ITC, WTC, ABT, DAI, WEB, GNT, STORM, MGO, LYM, NCASH, UPP, ETHOS, MEDX, THETA, QKC, COSM, KEY, TUSD, CTXC, ALI, MANA, AE, NAS, ORS, CND, NPXS, FSN, PST, ADX, HOT, AION, CRPT, PAY, FUN, LRC, MFT, PPT, POLY, RDN, DRGN, ZRX, IOTA
If you are currently holding one of the above, DELISTED assets in your PLAAK Exchange wallet, please do not worry. Keep an eye on your registered email address where we will be contacting you directly to arrange the safe return of those assets. Please note that if your current balance of any asset is less than the blockchain transaction fee to send it back to you, then we will not be able to process a withdrawal — you will be informed if this is the case. We take the handling of all customer funds and assets very seriously and we have every intention of returning all assets that are no longer listed, back to their rightful owners as quickly as possible. Remember, we will send you an email over the next few days.
The safe return of all $AUD holdings on the Exchange will also be processed in the coming weeks. Due to the nature of how our Exchange was built, access to these funds was restricted until the platform was live again, so we thank you for your patience in this matter. All users with $AUD holdings will receive an email to their registered email address with the information to securely receive those funds.
$AUD, for the meantime, will not be available until we can establish a secure and hassle-free way for users to deposit, withdraw and trade with $AUD. It is a feature that we are endeavouring to bring back as soon as possible.
The PLKX blockchain has already started integration onto the new platform. However, due to the nature of our native blockchain and asset, this requires a few more weeks to complete. PLKX will not be a major pairing, but rather a normal listing, paired with USDC, BTC and ETH initially, and with 50% off (0.05%) in trading fees.
A list of our available Trading Pairs:
Main Pairing — USD Coin (USDC). Pairings — Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tron (TRX), Bitcoin Cash (BCH), Verge (XVG), Ripple (XRP), Stellar Lumens (XLM), Eos (EOS), ColossusXT (COLX), PLAAK (PLKX)(coming soon).
Main Pairing — Bitcoin (BTC). Pairings — Ethereum (ETH), Litecoin (LTC), Tron (TRX), Ripple (XRP), Eos (EOS), Stellar Lumens (XLM), Zcash (ZEC), Ethereum Classic (ETC), Dash (DASH), Verge (XVG), Bitcoin Cash (BCH), ColossusXT (COLX), PLAAK (PLKX)(coming soon).
Main Pairing — Ethereum (ETH). Pairings — Litecoin (LTC), Eos (EOS), Ripple (XRP), Dash (DASH), Ethereum Classic (ETC), Stellar Lumens (XLM), Zcash (ZEC), Verge (XVG), ColossusXT (COLX), PLAAK (PLKX)(coming soon).
As we grow, we will be looking to expand our list of available assets once again, with coins and tokens that will bring value to our Exchange and to our customers.
Changes to the way you login to the Exchange have been made. We have decided that over-complicating the login process with biometric authentication was an unnecessary step for users to access their accounts, and we realised that there were a large number of users using devices without biometric capabilities. Although we have simplified the login and registration processes, we’ve kept the same strict security backend and made it quicker and easier for users to log in.
Existing users when visiting the Exchange again for the first time (since being taken down for upgrading), users will find that they need to reset their passwords. This is because, unlike customer information (name, email), funds and other stored information, passwords are NOT stored in a transferable manner. Meaning we cannot send them over to the new platform. Existing users are able to use the same password if they so choose.
Customers are still able to set their Google 2FA, email authentication and SMS authentication within their user settings page.
Customers who have enabled Google Authentication on our previous platform have to set up a new Google 2FA again. The old PLAAK Exchange Google 2FA account can be removed/deleted without any foreseeable issues.
Please remember to write your new Google 2FA code in a safe place.
Plaak.io is up and running for anyone wanting to submit a support ticket or to read our T&Cs. We’re utilising the customer support platform Zendesk to manage our support tickets through a widget located on our support page. This is the primary way for any Exchange user to submit a support ticket to our development team concerning their PLAAK Exchange account. Instructions on who should, who shouldn’t and how to submit a support ticket are available on the support page.
The importance of setting up our new support ticketing system gives way to an improved customer experience when reaching out to PLAAK with an issue, question or feedback of the PLAAK Exchange. Our ticket support is monitored daily by our team and is actioned accordingly. Our social media channels are used for announcements, promotions, information and so on. Therefore, any question or issues that you may be experiencing may go unnoticed if you report it incorrectly.
The new and improved PLAAK Exchange is only the beginning of the journey. As we roll out the exchange to new regions and customers, it is our goal to continue to improve, update, add new features and list assets that give value to our Exchange customers.
Keep an eye out over the next couple of days for the PLAAK Exchange Re-Launch Announcement!