Dear all.
Sorry for not visiting here more often, but we have super busy days and we are also catering our community on slack with frequent updates.

The token swap came and went smoothly in our minds. Tokens have been allocated, although there were some hiccups with the bounty spreadsheet that has led us to bring back in the bounty manager to sort things out. Some (or most) bounty participants have gotten their tokens already, but there are still several that haven't.

We reached a new milestone today with coss.io exchange for the first time hitting 500,000 I daily volume (661,000 in time of writing this post) and the COSS token also past 500,000 in daily trading volume (760,000 in time of writing divided by the exchanges coss, etherdelta and HitBtc) More exchanges to be added in the near future.

The first Token Based Fee SPlit Allocation (The COSS Fair Share program) will be calculated this coming Sunday. And all COSS token holders can participate by either holding their tokens on coss.io or on MEW (but for MEW you need to add an identifier code that you will find on your COSS dashboard)

We have seen the listing of many new tokens on the exchange such as:
KNC (KYBER)
SUB (SubStraum)
IND (Indorse)
PIX (Pixlar)
And of course COSS Token.

There are currently 40+ trading pairs and many new tokens will be listed in the very near future. The first upcoming once on our schedule is:
KIN
LINK
TEU
HGT
ENJ
+ more.......

The team is growing and has also gone through some minor changes.
We are also bringing more inhouse IT to Singapore with both back end and front end developers.

Thank you for your attention. As said, I am not very often in here, but feel free to contact us at support@coss.io

Hi all.

Thank you for understanding to those that do, and sorry to still see the disappointment from others.

There are two sides of this, and I assume the reactions are showing that. For those that aim to hold onto the coss tokens, this is a good deal, for those that intended to sell off right away, it is slightly less.

Although you look at 50% of the expected trading value, you also look at 500% increase in the revenue share you will receive. It is a give and take scenario.

Nobody is trying to scam you. Please read the reply above.
We are trying to find a fair solution to this, so please hold your horses.

Hi all.

Please calm down a little.
We are fully aware of the frustration and we are looking into it.

The situation is like this: We sold far less than expected and during our token swap we have 2400 contributors. They have voted on multiple proposals on what to do with the big amount of unsold tokens, and the result is that the contributors will be issued 10x tokens.

The bounty program was set with a fixed % of the total supply and that has not changed, and the pool still represents the same percentage of the revenue share.
We, of course, understand that people will expect a lower trading price because of the 10x

This is a complicated problem because it still doesn't justify to do a 10X on the bounty pool because then it will also represent 10 times more of the revenue share and not only a compensation on the trading price.

What we will do is that as soon as we get the full overview from the bounty manager, we will increase the bounty pool to compensate, but it will not be 10x, it might be 2x or 3x based on the final numbers.

We want to do this as fair as possible, but it also have to go both ways. We hope for your understanding on this topic.

1) after the sale is over on September 6th and before the release on September 20th.
2) first trading in September 20th will obviously be in coss, but we will be on multiple other exchanges within short time, not confirmed which, but we are in dialogue with multiple in the top 20.
3) project will continue regardless and there are interested traditional investors that want in for equity, but they have been put on hold awaiting the final numbers from the token sale.

Feel free to connect for a skype conference. You can reach me at rune@coss.io

Just throwing out a hot torch for consideration and comments.

If a large amount of tokens would be burned, and the dev and stakeholders also would be diluted accordingly. Then what about the amount set aside for bounty? Wouldnt that indirectly represent a unfair large portion of the tokens in circulation?
Asking it here since many of you are in the bounty program. It is JUST a question for now :-)

Yes you can store COSS on MEW, MIST and other erc20 compatible wallets. However, the token won't be released until September 20th. Normal gas settings.

Current status:

CONTRIBUTED
5,057.199 ETH  1,572,991.108 USD
PARTICIPANTS
 1,626 participants

And there is no minimum cap. The project will continue regardless.

We are taking suggestions from the community on slack. And once the sale is over there will be multiple options and the community/token holders will be able to vote to decide what will happen with unsold tokens.

Current status:
CONTRIBUTED
4,665.446 ETH  1,451,140.273 USD
PARTICIPANTS
 1,404 participants

Very pleased with the amount of participants as that is very good for the platform. The average contribution is way below what we actually expected, and although our cap was set high, we kind of set our own internal "happy cap" at 10M. We are still far away even from that one, but overall, we are very happy with the community and all the feedback.
We have no minimum cap on our token sale, and development will continue regardless of the success (or lack thereof) of the token sale. It will, of course, impact the speed and scale, but not the existence, nor the development.

Hi.
That is untrue.
We just recently heard of DH, and whether or not he is a scammer is not for me/us to decide.
I met him once during the tech-sauce blockchain conference in Bangkok, but no relation, and no co-operation of any kind have been established. It was only to list their token.

May I ask what makes you come to that conclusion.
We already have a developed exchange with over 6500 traders after 3 months of beta launch. We have developed payment gateway with POS system with more than 200 merchants attached already. We have made contracts with over 10 companies to implement their products and services on the platform. We are corporate members of both https://www.access-sg.org/ https://singaporefintech.org/ here in Singapore. We have no minimum cap on our token sale, and development will continue regardless of the success (or lack thereof) of the token sale. It will, of course, impact the speed and scale, but not the existence, nor the development.

Hi.

It is duly explained earlier in this thread. If you go back to page 6 I think you will find several links that explain it well.

Once the sale is over we will compile suggestions from the community given on our slack channel and we will set up a voting mechanism.
So based on incoming suggestions we will create various options to vote for.

We started late, and we didn't build a community before we started. Lesson learned, but it is ticking every day. Many contributors which are good for the platform, but a low average. We are not worried, and will continue full focus on building the platform strong. We might have to call back a few institutional investors that we put on hold though :-)

The only team member we have from Indonesia is our graphic designer, so he won't be able to answer much regarding the token sale or the platform.
Feel free to email: info@coss.io and we will assist the best way we can.

YES, the sale closes on September 6th.

And the COSS token will be released on September 20th for trading.

I would assume till the end of the sale which ends on September 6th. But I'll let the bounty manager confirm it though.

Hi again.
We were communicating directly with the FYN dev last night, and both sides looked into it. Neither side could see anything wrong, but for some strange reasons most of the FYN deposits yesterday took about an hour+ to clear. Let's hope it runs smoother today.