CloakCoin has demonstrated that the CloakSend 1.0 concept (anon via exchanges) works well in public testing. But during this process we discovered a better way to make anon, one that would not need exchanges or masternodes... a truely p2p decentralized system. A whitepaper is currently being produced for CloakSend 2.0.
That is from the OP. So obviously there is way more in store for Cloak. Current public consensus is anon through exchanges but that is just a small part of it. Stay tuned because there are way more updates to come. This is just the beginning. The sky is the limit!