Development & Marketing Update for November 2019

Welcome to another monthly update on the progress made by the Electra Team! Let’s start!

Exchange updates

November brought many exciting announcements in regards to exchange listings.

Important Reminder: During November there was news of another exchange hack where hackers stole approximately 350,000 ETH tokens. We highly recommended that you only use exchanges during trading, buying, and selling.

You should never use an exchange as a place to hold your coins. In order to keep your coins safe and secure, you should store your coins in your wallet. You can find several wallet options on our website.

iOS wallet

Work is currently ongoing and is in the last stages to make the application stable.

ElectraPay

The following as been added, as we continue with the front-end development.

The order statistics can be shown daily or monthly
Table that shows an overview of recent orders
Received vs. settled orders in chart
Current price of Electra is also displayed in the dashboard

QT wallet

Electra University

As we work to help others become more knowledgeable with Electra, we have decided to move to an easier to manage documentation and knowledge system. The platform that we will use is Docusaurus, where content is currently being added. We believe users will find this to be an easy to use interface and will us to provide valuable information to those new to crypto and specifically Electra.

To learn more about the Docusaurus platform being used please visit their website.

Update from the Electra Foundation

Friends of Electra

This month the Electra Foundation has initiated and started the Friends of Electra campaign. This is a campaign where community members can donate BTC and get ECA in return. As noted, the Foundation is managing a significant amount of ECA that is used for the long term development of the project. The funds can be used for such things as to pay external developers if the Electra development team lacks a specific skill, the funding of exchange integrations, as well as to cover the cost of the subscription for the upcoming IOS wallet and servers used for ElectraPay.

These costs typically are not paid in ECA, which requires that we liquidate ECA into BTC to be able to pay the needed expense. We preferred a donation campaign, such as Friends of Electra, over converting ECA to BTC via exchanges for two reasons; no negative price action due to sell activities, as well as we thought this would be a nice way to get the community involved.

Automate donations via staking rewards

Please note that you can automate a donation to the foundation from your Staking Reward, by setting a percentage in your wallet.

Example: If you want to give 50% of your staking rewards, you should set the MultiSend option to 50. This can be found under settings. Follow this simple guide to setup your MultiSend donation:

https://docs.google.com/document/d/198KWgbhqgo0ZCQs00rnakdZpPmj34kiPixZqK2d1fAk

Preparations Tier 1 Exchange listing

The Foundation has focused much attention on getting Electra ready for listing ECA on tier one exchanges. The listing processes with these exchanges are quite strict, where the demands are high and the turnaround time is long. The process of providing information, the review of this information beforehand, as well as obtaining legal documentation such as opinions and statements, can be a lengthy and costly process. We are pleased to announce that we are making good progress and the initial feedback has been positive. While this does not guarantee anything, we are very encouraged with all that is occurring.

Please understand that due to non-disclosure agreements (NDA), along with the sensitivity of listing processes, we cannot elaborate further. We promise to be transparent and keep the community informed as possible. In doing so you will at least know of what we work on behind the scenes.

Year- end Board Meeting

There will be an Electra Foundation board member meeting in December. During this meeting, the past year will be reviewed and 2020 will be discussed. Although the Electra Project sets the ambitions for the short, mid, and long term, the Foundation needs to have an up to date vision and strategy upon which funding requests can be either approved or rejected. At the end of the 2019 calendar year, the titles of the board members will shift. Raymond will become the treasurer, Bob will be secretary, and Robert will take over as the new chairman.

If community members, that have proved themselves by their contributions and loyalty towards Electra, have an interest in joining the Foundation as an advisor or prospective board member, please do not hesitate to let us know.

Until next month…

It is said that “success comes from knowing that you did your best to become the best that you are capable of becoming.” At any given moment there are individuals from around the world that are diligently working to the best of their ability, to make Electra the best it can be. We are confident that through the work of our entire community, the stage is being set for mass adoption of Electra to occur. Until next month we would like to encourage you to continue to show your support through such ways as the Friends of Electra campaign, sharing with others what the future holds for cryptocurrency and how Electra will play an impact in this movement, and through the continued discussions that are occurring on one of our community discussion platforms.

To conclude this report

December will be a month of quality time with family, friends and loved ones. Please note that there might be a bit less activity during this month.

The next report will be published in the first week of the new year so on behalf of the whole Electra team we already wish you a happy and Merry Christmas and a beautiful 2020!

The Electra Team

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