On Thursday, January 10, 2019, 4:57:35 PM EST, David Peterson (ARB) [email protected] wrote:
Very short version – New exchange will be implemented at 9am UTC tomorrow morning. Check your local time here – https://shmny.me/2FtgZr5
As you all know we have been waiting for very important updates for the last following 7 days. I am happy to say that we have finally finished all of our tasks and have completed a very hard week of work.
These changes were needed to ensure the future stability of our Arbitraing platform, no changes were done without putting the future first and foremost.
We went through the growing pains of innovation and learning how to best host our one of a kind platform. What we are doing has never been done before, since we are the first charting these paths the growing process can seem harder. But in the end we all learn so much more from blazing our own highways and not following the beaten paths.
The exchange updates will only help the sustainability of the aBOT system and ensure that it is able to maintain a longer life. At the same time we needed to also not over look the fact that we still want to offer a free market.
We have updated the exchange to offer the best of both worlds. I will be releasing a video on the how to use the exchange over the next couple hours. I will also be releasing a pdf photo Exchange guide as well.
I wanted to let you all know that all the works been completed, the exchange is currently on the platform.
We will be releasing that tab for viewing and learning.
Honestly we wanted to say it is currently 1AM in our developers location, they worked from 9am – 1 am to get this all ported and tested.
We would like to ask the community to let the developers get some rest and plan for full launch of the new exchange and the other bonus features we are releasing.
aBOT currently stops its last group payout at 7pm UTC. It would be best to correspond the Exchange going live with the aBOT completing its current day, this way all users return their desired reinvest amount. Doing this would also make everyone have a fair chance and no one would have been auto reinvested if they did not want to be.
This will also allow all of our developers to be on hands on deck when we launch to ensure that you have the best possible experience.
We would like the communitys support in launching the exchange at 9AM UTC. This will ensure a guaranteed smooth release.
UPDATES IN DETAIL
Exchange Structural Changes:
We have implemented a hybrid exchange class, taking the best mechanics of both, the traditional and new Block Exchanges, combining all data gathered from both of them and implementing solutions accordingly. This update allows for stability of the aBOT while still giving more free market range in price movement.
This update will bring back the traditional Buy/Sell orderbooks.
The orders in either buy or sell books will each resemble a Block, with preset capacity for ARB and ETH.
Sellers can choose to sell to any buy order directly (once ETH has entered buy block), like the traditional orders work, or they can put their limit orders in Sell orderbook. (Limit sellers pay no trading fees.)
From now on, ARB market price will be based on a Market Block which is located in the middle of the exchange books. The Market Block will act as before in the Block Exchange and raise in price when filled or lower in price when not filled .When ever the market block is closed it distributes ARB/ETH evenly to all buyer/seller. (Left over ARB will be returned or placed in the sell side.)
Buy Book order blocks will get executed whenever at least 5 ETH of block portion is full of ARB and ETH. (buyers can cancel their buy orders from these blocks).
Blocks still have the structure where they can be filled from 20% Exchange Wallet, 20% Stop aBOT Wallet and 60-100% from Earned Exchange Wallet.
We have implemented special reinvestment options that get paid bonus in ETH! YES, you heard it right. Bonus Payouts in ETH!
The new internal exchange will have a fee for sellers selling directly to the Buy side, this entire fee will be given to all aBOT users with reinvesting bonus enabled. (Bonuses are fairly distributed according to their aBOT Active size.)
Reinvestment bonus periods will come in 3 durations – 30,60 and 90 days. You will get up to 20% more ETH bonus for higher reinvesting amount/time.
ETH bonus will be distributed to you daily, however it does not release to you until after your selected reinvest period is over.
Bonuses apply to 50%, 75% and 100%.
You are now able to invest in your aBOT directly with your ETH on main wallet! Simply press the transfer button on Wallet section and you are set! The system will place your ETH into the market block and then automatically start aBOT for you after purchase. For all direct from wallet purchases you will get a 5% bonus on your funds sent to aBOT.
Exchange Wallet, Earned and Stop wallet continue functioning as before.
Sell limits from all wallets and for both Basic and Pro subscriptions will remain halved by 50% untill the exchange flow is restored post-updates. It is temporary of course.
All external deposits will now be divided into 2 categories:
ARB Deposits coming from external can be used inside Vault or aBOT (at current CoinExchange price).
Deposits coming from private wallets will have to submit support ticket and provide valid proofs that they bought during ICO or pre-existing to 12/16/2018, in a positive outcome they will enter the platform via the internal wallet. This is done for our loyal HODLers who held ever since purchasing. Please give us time to validate all of your submissions.
David Peterson (ARB)
Global World Technology LTD. MDE Building, 7th Floor Purcell Estate P.O. BOX:4417, Temasek, WY VG1110
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