On 2nd February this year, the Tokens.net exchange announced termination of business. The founder of the Tokens.net exchange states the exchange’s reorientation toward the major cryptocurrencies does not seem viable with the current market conditions. Initially founded with the aim toward listing tokens newly-arrived to markets from ICOs, the exchange had enjoyed technically flawless performance with no issues regarding transparency or compliance to regulation.
This is why X8 AG had chosen Tokens.net for the first launch of the X8currency. The X8 team put a lot of effort into connecting and helping the Tokens.net establish FIX protocol network that would work with the X8’s market streaming capabilities. While this is certainly a temporary setback to the X8 project, it cannot prevent its implementation.
X8 AG has already started with an engagement of more than just exploratory nature for a new exchange that suits its technical and legal requirements and to replace the slot in the X8’s system assigned to Tokens.net exchange. Listing on an exchange is one of the project’s priority short-term goals as the project waits for the FINMA authorisation. At the same time X8 AG is also planning a development of the User Portal to provide more manoeuvrability when dealing with dependency on exchanges.