Development & Marketing Update for November 2019
Welcome to another monthly update on the progress made by the Electra Team! Let’s start!
November brought many exciting announcements in regards to exchange listings.
- STEX listing completed: Electra is now listed on the STEX exchange. Currently, ECA is paired with BTC, however, additional pairings may happen in the future.
- Altsmarkets listing completed: ECA can now be found on Altsmarkets, with a BTC pairing. This occurred after one of our community members successfully contacted Altsmarkets and initiated the conversation for Electra to be listed.
- C-PatEx listing completed: During November our community members started a voting campaign for C-PatEx. With the help of our community, ECA ranked as #1 in its monthly voting process and is now listed and is paired with BTC, LTC, and DOGE.
- Crex24 listing completed: Crex24 organized a 2nd voting campaign for a free listing on its exchange. Electra was one of several projects invited to participate. With the support of our community, along with a show of support from several friendly different projects, Electra won the contest. We greatly appreciate the support of all that were involved in this listing.
- Halodex voting ended: While Electra ranked third in the voting process, the Halodex team contacted us afterward to discuss the possibility of being listed for free. We are still in discussions regarding this matter.
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.
Work is currently ongoing and is in the last stages to make the application stable.
- The design is complete, however, testing may prove that additional work is needed. Should tests show that work is needed, we are confident that it should not take long to make the necessary changes.
- Code has been cleaned up from all non-ECA-related BRD functions.
- Beta-testers have been identified with testing scheduled to start soon.
- The final review of language packages to check for accuracy is currently underway.
The following as been added, as we continue with the front-end development.
- Account Contact: As an account created, the contact details for that account is now in place, along with the capability to update information as needed.
- Order Menu Option: On the order menu options page the following information is available.
- Order Summary: This shows the number of orders that have been received and awaiting payment, the number of orders where a payment has been received, the number of orders where the amount has been settled, and lastly the number of orders that have been rejected or reversed.
- Recent Orders: A list of recent orders is displayed. The user can search for an order by entering the unique reference number of the order.
- Chart: This will show the value of orders that have been received versus those that have been settled. The chart can display by month or day depending on the selection made.
- · Electra Price: The current price for Electra is displayed.
- Implementation of continuous integration, to secure and verify the integrity of changes made to the code and its proper compilation.
- Updating files used in other methods of compiling and development (Qmake, Travis, etc.)
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:
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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