Tech Update, May 16th

Hi guys,

It’s been a while since you last heard from us, but we’ve been working on a lot of things behind the scenes. And now we are ready to provide regular updates, as we’re moving quite fast and we will aim to keep you posted on a biweekly basis.

First off, there is a YouTube talk you might have missed. The video contains content about DAOs and other things, and the technical side starts from about the 40-minute mark.

Unfortunately, it was recorded in both French and English, which resulted in a bit of a mess. English speakers weren’t happy when there were prolonged French sections and vice versa. It is needlessly painful to watch, and we will try to avoid this next time (so videos would be either in EN or FR only). 

TL;DW summary for those who don’t want to watch the video (I wouldn’t blame you), here’s a short summary of what is going on:

• We are pivoting from the Cryptaldash Exchange model into a Multiservice Finance-Crypto API aggregator. It sounds weird at first, but basically what we are going to do is to provide a bridge between traditional Finance and Crypto services, with a high focus on compliance. This model allows us to bypass a lot of technical problems, as we would use a modular (microservice) approach for each separate operation (like KYC service, on-ramp service, crypto swaps, etc). 
• We have now cleared almost all withdrawal requests in the queue that were submitted after Dec 2020. Due to logistical and legal considerations, we are going to cancel all withdrawal requests which were made before that. However, you will still be able to resubmit a request and we will process them ASAP.
• Fixed customer support side. Now, if you have problems with KYC/Withdrawals/2FA/login to the Cryptaldash exchange, you are able to submit all requests to the following email: support@crd-token.org
• We are opening a Telegram channel soon and will channel all updates there as well.

Now, regarding technical updates

Here is the May tech roadmap:

We are finalizing a new website app that will be used as a core platform for all our offerings.

Once it is opened, in about 2 weeks, it will allow you to register and process KYC details.

You will also be able to connect to a Metamask account and swap ERC20 tokens via an integrated 1inch provider. In addition, we are also working on integrating a few lending services (like Aave, Compound, YFI and Cream).

This KYC & DeFi functionality might not seem like a big deal, but it is. Once implemented, it will allow us to provide DeFi service in a compliant manner once we integrate it with Hyperldger and start posting Proof of KYC into the ETH mainnet. 

Without getting too technical it simply means that the average Joe would be able to utilize DeFi and earn there without fear of banks closing or investigating their account, as we would already be covering the legal/compliance side for them.

The next phase would be “Project B” (more on this later), fiat on-ramp (you’ll be able to use services like Coinify, but without the need to go through KYC with them) and most importantly, Railsbank integration.

In our next updates we will start covering each functionality in-depth, and hopefully will be able to unveil some details on “Project B” - we expect it to be a real killer feature, but we still need to finalize a few things to make sure everything’s working properly.

These are exciting times for us, as we launch our microservice ecosystem in the coming weeks, and we will keep you posted on any new updates!

Feel free to ask any questions you may have in our Telegram group.

I wish you all the best!

Until the next time,

-P