Investors should carefully consider the fund’s investment objectives, risks, charges and expenses before investing. To obtain a summary prospectus or prospectus containing this and other information, contact us or view the prospectus provided on this website. Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
- While 2019 was an extremely challenging year for Capdax, we are confident that we have explored all possible solutions to these challenges to the best of our ability.
- Today, it’s extremely challenging to run a successful exchange, let alone launch a new one, as highlighted by the rate of exchange shutdowns and hacks over the past 6 months.
- Whilst we had originally planned to launch in mid-2018, our release was delayed on a number of occasions by challenges that impacted both our roadmap and leadership team.
- At this stage, selecting a new partner and overseeing the development of a new Capdax back-end would mean launching in August at the earliest, leaving very little time to generate our required revenue.
- It’s no exaggeration to say that, from a technical and legal standpoint, Capdax has been one of the most ambitious and rewarding projects that myself and the team have ever worked on.
- We explored the feasibility of raising additional funding through non-equity in order to maintain full control.
The ratings agencies that provided the quality breakdown ratings are Standard and Poor’s, Moody’s and Fitch. The credit quality breakdown does not give effect to the impact of any credit derivative investments made by the fund. Actual after-tax returns depend on each investor’s personal tax situation, and are likely to differ from those shown.
USD to XCD Chart — Historical price of US Dollar expressed in XCD
Amatus, a recognized cryptocurrency and blockchain expert, has founded many successful organizations, including the crypto asset investment club, Maple Fund, and Beyond Blocks, a global conference of blockchain enthusiasts. capdax wants to totally change the way in which users trade in cryptocurrencies by offering a system that can be personalized to the user’s own style and needs. Beginners will be able to select an “easy mode” interface which offers simple tutorials and the ability to select trading pairs and place orders with just a few clicks. More experienced traders will appreciate the full suite of trading tools that are available and the ability to customize the dashboard to their individual preferences.
Handling Negative Feedback As A Blockchain Speaker
Specifically, pivoting the business toward an opportunity with more-immediate revenue potential. Before executing our pivot, it’s essential that we first gain a deep understanding of each potential market. Today, we have narrowed our focus to what we consider to be our two strongest ideas, both fitting the above criteria. Unfortunately, despite our best efforts, we are unable to guarantee the success of Capdax to our satisfaction. We have therefore taken the difficult decision that in the best interests of the community, we will not pursue the project further.
We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers. The TGE will represent 51% of the tokens being sold and when one tier is sold out, the next tier will be activated immediately until all of the tokens are sold. Alternatively, buyers will be able to see their tokens in the Capdax Exchange when it launches. The creative minds behind Capdax are a team of young but highly experienced individuals who bring a lot of technological foresight and innovation to the table.
In future, to ensure the Capdax Community are aware of important developments as they happen, we will be publishing summarised updates at the end of each quarter. Whilst we are stable, a significant amount of the capital raised during our TGE depreciated due to poor market conditions and banking delays. In response, myself and the team took steps to adjust our approach and ensure Capdax remained in a strong position to grow and succeed.
The TGE, which is scheduled to last no longer than four weeks, will consist of 5 different tiers of 1300 ETH, ranging from a 25% bonus at Tier 1 to 0 bonus at Tier 5. For those interested in participating in the Capdax token generation event (TGE), the wait list for enrollment will remain open until February 17, 2018. The management team also includes the skills of Gabriel Yang (Operations Manager), Manno Notermans (Public Relations/ Performance Marketing Director), and Rayed Chaudhry (Performance Marketing Specialist), among others. In addition to these major features, we plan to deliver many smaller features and improvements regularly.
In November, our development partners underwent a change of leadership that severely impacted the performance of their team. We were assured that their new leadership would on-boarded quickly and, faced with the decision between another minor delay and the 6 months required to select a new partner and start again, we stood by them. Income generated from the bitcoin fork amounts to an additional 2.66% of the total amounts received. Of this total amounts received, 42.22% (USD 4,204,440) have been contributed by the founding members. Myself and the team are firmly committed to building transparency between ourselves and the community through these quarterly reports and will continue to answer community questions via the https://cryptolisting.org/ Telegram channel.
This will also prevent Capdax’s remaining funds from being lowered by any related expenses. It is very important to us as founders to provide maximum transparency and accountability. We therefore engaged an independent, certified, and experienced accountant to conduct an official financial inspection of the funds gathered and spent, as well as the funds remaining today. The report proves beyond doubt that the project has not enriched the founders or any related entities while providing a proportional overview of expenses and asset depreciation resulting from a declining market. Evidence is given that the founders never received a salary for their work on the project, and contributed over 4 million USD combined, making them Capdax’s biggest financial contributors.
We are pleased to have been able to provide this transparent overview to fully address any questions or concerns the community may have. For any further clarifications regarding the report, the summary contains a digital form which you can use to reach out directly to the financial accountant. Additionally, we have added two friends of Capdax to our leadership team, with whom we’ve been discussing a partnership in the derivative space. They are very familiar with our project and the broader crypto market, and will provide the skill sets required to execute this potential pivot. I’m not yet able to share their names but can confirm that one has overseen numerous startup exits and the other previously held a leadership role at the venture arm of a well-known Fortune 500 technology company. Specifically, we are exploring options to pivot the company toward an opportunity with more-immediate revenue potential.
Today I have some important news to share with you relating to both the product and future direction of Capdax. The procedures were undertaken in accordance with the applicable International Standard on Related Service 4400 Engagements to Perform Agreed-Upon Procedures Regarding Financial Information. Capdax has been working hard to keep potential buyers and traders well informed in the lead up to the public crowdsale happening on February 17th 2018. Thank you again for supporting Capdax and I can’t wait to share more news with you over the coming weeks and months. An update on our recent progress and future outlook ahead of Capdax’s imminent release. The People Pillar is our evaluation of the CAPAX management team’s experience and ability.
Based on a proportional distribution of all remaining funds the conversion rate will be 1 ETH / 60,954.06 XCD.
We will continue to work hard in this final phase to ensure that all loose ends are tied up efficiently and that the buy back process runs smoothly. Throughout the past year, we’ve successfully completed Capdax’s foundational legal work, gained preliminary authorisation to facilitate fiat-to-crypto transactions throughout Europe and made strong progress toward obtaining a securities license. Whilst many global jurisdictions are still establishing their frameworks for digital assets, we chose to be part of the Malta Sandbox programme, a fully regulated environment. Our BETA front-end experience has been implemented, following multiple design iterations and extensive user testing, with very positive feedback.