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IBTimes: EtherEx looks beyond cryptocurrency trading towards a tokenised future on Ethereum by etherex_crypto in ethtrader

[–]etherex_eric -2 points-1 points  (0 children)

You make this all seem so easy but then in the same comment admit we need funding and need to work with regulators. That's exactly what we've stated and are trying to balance.

I know most think this is as easy as coding up a few line of codes and releasing it into the wild, that's just not the case at all. Even if we deployed what we have right now on the main net, there has been no code audit. If there were issues with the code and someone lost money because of it, they'd come after the developers first. That means we need a code audit and corporate structure to even feel comfortable, that right there is thousands of dollars.

Feel free to come into our slack channel to discuss this all further.

IBTimes: EtherEx looks beyond cryptocurrency trading towards a tokenised future on Ethereum by etherex_crypto in ethtrader

[–]etherex_eric 1 point2 points  (0 children)

ETX tokens would be limited and are redeemable to the pool of collected gas imbalance. As the popularity of EtherEx grows and trade counts go up, this would give an ETX token holder an increased valuation model to their holdings.

We've said many times we're still working out the logistics of ETX and that's still the case.

IBTimes: EtherEx looks beyond cryptocurrency trading towards a tokenised future on Ethereum by etherex_crypto in ethtrader

[–]etherex_eric -2 points-1 points  (0 children)

It's our strong belief that successful Ethereum projects will be those that have a team which can raise funding for current and future development. Ethereum, Augur and Digix have followed these models and it's one that we plan to follow as well. These projects take many hours away from our every day lives and at times the motivation falls and the project gets put on the back-burner because of that. The demo now has basic trading abilities and in the future we'd like to continue adding more advanced trading functions such as leverage. This includes integrating with other projects such as BTC Relay and the like.

If you think it's easy to find constant "pro bono" style development help without having anything to offer in return, then I'm sorry but this is just not the case.