Two different entities, excelling in their domain and presenting the world with unique, high-end features, exceptional customer service, and seamless user-interface, decide to become one. The Crypto-verse has been witnessing new and thrilling developments each day, but it has yet to see a massive merger of two utility Cryptocurrencies and companies, resulting in the creation of one of the largest crypto ecosystems out there.
“Always dream and shoot higher than you know you can do. Don’t bother just to be better than your contemporaries or predecessors. Try to be better than yourself.” — William Faulkner
We are delighted to announce that COSS and ARAX are coming together to form a massive utility token by merging all their existing tokens & its various use cases. The combined entity will have a large existing user base, a community that has supported us from day one, multiple use cases and an unparalleled team that continues to deliver.
Over the last 18 months, it has become evident that as blockchain goes mainstream, there is a huge opportunity for companies that focuses on building communities and mass adoption. Coupled with day to day utility of tokens and real-life use cases, this merger of tokens and our companies’, puts us up together with the top blockchain corporates of the world.
And yes, you might guess it already from the picture above. ONE MASSIVE SINGLE token across multiple platforms will be introduced. It has taken months of preparation behind the scenes to create this massive multiple-token utility ecosystem right, and most importantly, to make sure our community and users win first. Rune and Sankalp and both our teams have been working tirelessly as you can see from recent product releases, updated versions and several global partnerships announced recently.
We are now talking about COSS, as one of Asia’s most reputed exchanges, syncing and merging with ARAX, the multi-purpose universal crypto wallet. Don’t take our word for it, but just wait for us to release more. With immense planning in the back end and a lot of balls in the air, we are prioritizing and will be formally announcing everything in the month of May.
Bringing together and creating an ARX Ecosystem has some distinct advantages from day one. This new ARX Master Token is created by combining an existing universal crypto wallet, one of Asia’s oldest crypto exchanges, a soon to be announced DEX and several Apps and DApp partners with facilities like lending, staking, GPS based transfers, merchant App, etc. Some functionalities have already been integrated into the ARX Ecosystem in one way or another with an active and large user base. A quick rundown of the ecosystem:
- Massive user base & one of the largest communities of blockchain enthusiasts
- A host of products to create one of the largest product ecosystems consisting of Wallet, exchange, DEX, lending interest income, staking, several Apps and DApps
- All synced by one mega token — ARX, providing multiple token utilities
- Multiple Blockchains, coins, services, all in one Wallet, one exchange and one token
- Digital identity for everyone — @Arax Name, Single QR code for ease of transfers and KYC & Scores based on a 5-star rating
- 50+ Global Partners — leveraging existing strengths & strong distribution infrastructure
- Adding new products at a much faster pace than anyone like insurance, DApps, Cards, gift cards, etc. to create massive token value and one of the largest token ecosystems
- Low marketing costs, local connections and global knowledge, with a focus on user base and adoption
Some of the other fascinating features that we have been working together on top of the above-mentioned products include the following. Please note, a concrete roadmap and a release schedule will be announced in May. Below gives you a good glimpse of what our ARAX and COSS family future might look like and what our teams have been working together on for the last few months. This is no less than spectacular and we are immensely proud of both teams.
- Existing tokens, their utilities, and their benefits will all transfer to the new ARX token. No one loses. IN fact there would be some distinct advantages to the community for holding them and supporting us for such a long time.
- A full launchpad for IEO’s synced not only on the exchange but a wallet as well. Ready and being prepared to launch soon
- Lending via partners integration — integration is on and soon you will be able to earn interest on your coins. Not many wallets or exchanges offer this service.
- Staking solution — with multiple coin staking with one click on the wallet. This is being built but proper dates will be announced along with full roadmap in May
- Merchant QR code based App for offline acceptability. Single QR code from Arax Wallet to single QR code in ARAX Merchant APp transfers. This is being built but proper dates will be announced along with full roadmap in May
- E-Academy and training. Ready and being launched soon
- Single sign-on and synced balances between platforms, free and instant deposits and withdrawals between ARAX wallet and COSSexchange. A lot of planning and brainstorming behind this to make sure the community enjoys maximum benefits by being on one ARX Ecosystem.
- OTC Trading and institutional logins. Working on this with partners. This is being built but proper dates will be announced along with full roadmap in May
- GPS Based Transfers — Already live along with crypto to crypto transfers
- Referrals and rewards program for the entire community with Single Sign-on functionality synced across all platforms. Already live on Wallet. More rewards to be added soon.
- DApps store of various DApps that users can vote and choose from. Starting with a full DEX, with all ARX smart contract functionality, a host of DApps are planned to be built by ourselves as well as partners that have great products.
- Fiat to crypto and crypto to fiat. This is case by case and jurisdiction by jurisdiction,
- Gift card solutions across the partner ecosystem
- Mobile top-up recharging and hotel bookings. Recharges are live. Hotel bookings coming soon.
- A unique identifier on the ARAX wallet so you can store the token safely there and still accumulate your FSA across the platforms.
A full ecosystem that realizes our vision of activating the full potential of a Crypto One Stop Solution for mass adoption. Over 50 partnerships across multiple industries and blockchain products already established.
Are we stopping there? Oh no! We have already planned the road ahead through international expansion and multi-purpose functions & licenses to be added. Rome was not built in a day but there is a belief that we can now make this into the largest utility token Ecosystem. We will not rest and we need your continuous support now more than ever.
Here is a sneak peek of our roadmap. Have in mind that in this fast-paced industry, any roadmap is a living document and obviously subject to changes. This is a preliminary roadmap and it will be adjusted as we get closer to master token launch.
How will the merger work and what does this mean for the community?
What does the token merger mean? Are we excited? Super excited. Have we been working tirelessly? Yes of course. While this is a preliminary announcement for our community, one might ask how does this merger of tokens work and what does it mean for existing tokens and token holders? Allow us to explain:
- All existing tokens will be swapped into the new token on a date to be announced soon.
- Swap ratio for each token will be announced closer to the actual swap date.
- Till then, it’s business as usual. The community doesn’t need to do anything for now except support us like you always have.
- All FSA, referrals, transaction discounts, trading fee discount and any new features will exist in the new token. CossX, the new DEX will also have 50/50 FSA and a 25% discount on trading fees by using the new token. Just like the existing token.
- All we are doing is creating a single token to be used across multiple utilities in one Ecosystem. An ecosystem that already exists. We are carefully planning and focussing on execution now.
We are fully aware that maybe more questions than answers have been raised through this pre-announcement, but bear with us: we will keep you posted along the way.
We aim to have most of the above covered during the month of May via more formal announcements and timelines, along with an official press-release during May 2019. Stay tuned for more news and our official press-releases soon to come.
Follow our official channels for more information. Please understand that our staff won’t be able to go into details on any questions related to this merger until official statements have been made from the companies.
We really do believe that this is a first step to build something massive, something more meaningful as one of the real utility ecosystems with several utilities at the same time. There is a lot of work ahead of us, but it’s time for us to build something big — together.
Sankalp Shangari & Rune Evensen
Co-founders and Co-CEOs of Arax Capital