BCNEX — May Update

jrasinaga (38)in #blockchain • 5 years ago

https://www.bcnex.net/?lang=en

Before I provide Bcnex May Update, please visit the articles below for a simple introduction to the problems and solutions offered by Bcnex and the Bcnex ecosystem.

1. https://medium.com/@jr4sinaga/bcnex-problems-and-solutions-offered-7e314c516b01

2. https://medium.com/@jr4sinaga/bcnex-the-ultimate-blockchain-trading-platform-841081ef6ff6

First of all, for those of you who don’t really follow the news about the development of Bcnex, I will try to summarize all the news before May:

28 February 2019: angel funding round has successfully ended. 10 million BCNX sold, 1 million USD in cash raised.
April 15, 2019: simulated trading competition on Bcnex testnet

Bcnex held 4 rounds of simulated trading competitions on Bcnex testnet with a total reward of 20k BCNX and 12 ETH. Reward is divided proportionally to 10 winners in each round, based on the total effective volume traded. Traders will receive 100k virtual USDT tokens as their initial funds in each round of the competition.

Round 1: limited to 150 traders, trading competition for BTC/USDT pair on April 15 — April 22, 2019.

Round 2: limited to 200 traders, trading competition for ETH/USDT pair on April 23 — April 30, 2019.

Round 3: limited to 500 traders, trading competition for XRP/USDT pair on May 1 — May 7, 2019.

Round 4: the number of traders is not limited, trading competition for USDT/LTC pair on May 8 — May 15, 2019.

That is exciting news from Bcnex before May, and this is a news update in May:

May 2, 2019: Bcnex partnered with CMC Telecom Vietnam and Akamai

Bcnex together with CMC Telecom Vietnam and Akamai have signed a joint agreement to provide security services to the blockchain-based trading floor. CMC Telecom Vietnam and Akamai will provide support to BCNEX to keep user data secure and prevent distributed denial-of-service (DDoS) attacks.

Source: https://cointelegraph.com/news/vietnam-cmc-telecom-akamai-to-prevent-ddos-trading-floor-attacks-for-blockchain-startups

May 3, 2019: ICO ETH session starts
May 18, 2019: ETH session ended

The soft cap of 2 million USD was reached. 15 million BCNX were sold out and the total funds raised were 13,320 ETH.

May 18, 2019: BTC sessions begin

1 BCNX = 0.00003753 BTC

Token Cap: 50,000,000 BCNX

End Time: June 27, 2019

Total Sold (until now): 32,830,576 BCNX (65.66%)

May 23, 2019: simulated trading competition on Bcnex testnet

Bcnex held 4 more rounds of simulated trading competitions on the Bcnex testnet with a total reward of 20k BCNX and 12 ETH. Reward is divided proportionally to 10 winners in each round, based on the total effective volume traded. Traders will receive 100k virtual USDT tokens as their initial funds in each round of the competition. This competition is not limited by the number of traders.

Round 5: trading competition for BTC/ETH and BTC/XRP pairs on May 24 — June 7, 2019

Round 6: trading competition for ETH/LTC, ETH/XRP, and ETH/BCN pairs on June 8 — June 22, 2019

Round 7: trading competition for BTC/ETH, BTC/LTC, BTC/BCN, and BTC/XRP pairs on June 23 — July 7, 2019

Round 8: trading competition for USDT/BTC, USDT/ETH, USDT/LTC, USDT/BCN, and USDT/XRP pairs on July 8 — July 22, 2019.

May 26, 2019: hard cap increase to 30 million USD

A lot of news labeled Bcnex as a project with great potential with a broad user base and successful sales of tokens in the first two rounds. In addition, market conditions seem to show positive growth, as a result, investors’ interest in participating in the remaining sessions is increasing. To accommodate this, Bcnex announced an increase in ICO hard cap to 30 million USD from the original 15 million USD.