Dear PHI Token Community,
Thanks for your continue support and enthusiasm in the development of our groundbreaking investment platform. Building off from our achievements last month, we present you our current progresses.
HIGHLIGHTS:
1) Phi Token Listing on Exchanges
2) Social Media activities
3) EXANTE Crypto version: work in progress
4) PHI Platform: work in progress
5) Securitization
6) New Services for Crypto Investors
7) Team members Hiring
1) Listings on Exchanges PHI Token was listed on the first exchange, Livecoin.net, on April 24th 2018. The ERC20 compatible token traded with three trading pairs: PHI/ETH, PHI/BTC and PHI/USD. Volume on Livecoin has been below our expectation partly due to a lack of marketing activities on our own part as we focused more on development. We are actively working for correcting these problems during the next weeks. Coin Market Cap: PHI has also been listed on coinmarketcap.com, and we have now to adjust the Circulation Supply on both CMC and our website. We have been contacted by a few exchanges, but had to turn down their offers due to liquidity and volume concerns. We prefer to not be listed in exchanges with lower liquidity than Livecoin.net. However, we are currently negotiating with two Tier 1 Exchanges and other minor exchanges and we are aiming to list Phi Token in an additional exchange before or at the same time of the EXANTE platform presentation programmed for June 21st. The team has therefore been completely focused on the software development during the past couple of weeks.
PHI Token distribution
Circulating supply: 4,9M
Token Price: 0.00042391ETH
Around $1,3M market cap
Total supply: 14,1M
2) Social media activities
PHI Token is active on the following social media networks:
Telegram: https://t.me/joinchat/AecpoEhlgK2yC70FzPp0iA (EN Group), https://t.me/PHI_Token (ITA Group)
Facebook: https://facebook.com/phitoken
Twitter: https://twitter.com/phitoken
Linkedin: https://linkedin.com/phitoken
Medium: https://medium.com/@PHIPlatform
Reddit: https://reddit.com/@phitokencommunity
3) EXANTE Crypto: Development Update We are actually finalizing the first Asset Allocator for crypto investments. Our board of directors have also agreed to give the platform services free of charge for the first three months (until September 21st). After this period, the platform will only be accessible to PHI Token holders with at least one hundred PHI Tokens (or a higher number that we will decide in September) in their wallet. The platform will be launched with the first top 100 Crypto Assets and the PHI Token, before scaling upwards upon community request. Due to the fact that the platform will be launched in a free version, revenues will come from companies that will list their tokens on the platform. The software can be used also as an asset position keeper and will be updated directly from your wallets if asset addresses are provided.
EXANTE Crypto is set to the launch in Beta form for June 21st. We are looking forward to our community’s constructive feedback to further improves to the product.
4) PHI Platform work in progress We have just designed the e-commerce section of the platform, creating the first four sections for fintech products and services distribution. Our aim is to allow the community to benefit from the platform. Any PHI Token holder, with more than 1000 PHI Tokens will have the opportunity to become a Sector Specialist and benefit from the business generated by companies added to the platform. In this sense, the marketplace can be defined an open distribution platform.
To further improve open the features and capabilities of the platform, and ensure that our resources are properly allocated and utilized, the launch of PHI Platform has been postponed to July or later in order to enable use concentrate ton the marketing of EXANTE Crypto launch
5) Securitization We finalized the acquisition of Crypto2Finance LTD, a trading company based in Malta. Crypto2Finance acquisition will facilitate the creation of securitization in crypto assets. Crypto2Finance is also an Asset Manager for Crypto Assets awaiting for the new regulation in Malta, which is expected to be approved in the first week of July. Securitization is one way to create financial instruments based on crypto assets under the Maltese and European regulation. These financial instruments can be purchased by professional investors and will be listed on the Irish Stock Exchange. The product prospectus is ready and we are finalizing details with a few potential managers to create the first product.
6) New Services for Crypto Investors
We have defined two new services for Crypto Investors, the first is a Tax optimization according to the Maltese Law that drastically reduces the personal taxation in the EU country, while the second one available from September allows Crypto Investors looking to exchange Crypto Assets into Fiat and have problem with the their Bank, to do this safely in a transparent and hassle-free environment.
7) Hiring We are looking to expand our capabilities and will be hiring some key personnel for the project. Currently, we are looking for a Marketing Manager, a Customer Relationship Manager, the Head of Sales for Swiss Market and a Junior Sales rep. Interested candidates should please send their CV to info@phitoken.io
Sincerely,
PHI Token Team
