Category

COSS Wallet

SALT is now live in COSS Wallet

Salt is now live in COSS

Hello, everyone.

We are expanding our list of supported assets by incorporating one more token this week.

Today, we have integrated SALT Lending token SALT in the COSS Wallet app allowing users to store, send, receive, spend and exchange the cryptocurrency from one single wallet.

About SALT

SALT is the native token of SALT lending platform which makes access to Blockchain-Backed Loans possible. It stands for Secure Automated Lending Platform which is a Blockchain-based platform created to allow keeping your crypto as collateral when applying for a cash loan. This enables you to utilise the value of your Blockchain assets in case of an emergency without actually selling them off.

SALT Tokens are ERC20 based tokens which are used as membership tokens. A user utilises these tokens to become a member of the SALT lending platform. Additionally, he can also leverage these tokens to pay off loan interest, be benefitted by better rates on loans and buy products and services from SALT’s online store.

About COSS Wallet

COSS Wallet allows you to securely store, send/receive crypto via GPS using Near-by feature. It gives you complete control over your crypto and enables access to all your crypto private keys with one master password. We now support 33 cryptocurrencies, across 9 blockchains.

COSS Wallet offers various in-app services:

  • COSS Star Rating — Earn COSS Plus reward points on every next star rating you achieve.
  • Address Book feature — Save your wallet addresses just like you save your contacts in the phone.
  • Mobile bill payments & Recharges — Make prepaid mobile recharges and pay postpaid mobile bills using supported cryptocurrency across 160+ countries.
  • Instant cryptocurrency conversions — COSS Wallet allows you to convert your cryptocurrency instantly.
  • Send and Recieve crypto with an industry-first GPS-based “Near-By” feature — Now transfer cryptocurrencies instantly nearby without any hassle via GPS.

We are making every effort to bring the best services to our users and expand our partnerships.


Join the community at our various channels
 :

Team COSS

SNT is now live in COSS Wallet

Status is now live in COSS

Hello, everyone.

We are expanding our list of supported assets by incorporating one more token this week.

Today, we have integrated Status Network Token SNT in the COSS Wallet app allowing users to store, send, receive, spend and exchange the cryptocurrency from one single wallet.

About SNT

Status is an open-source messaging platform and mobile interface to interact with decentralized applications that run on the Ethereum Network. It was launched in 2017 aiming to overcome what have become common problems today, faced by users, like loss of control over personal data and over-reliance on existing centralised financial and banking systems.

Status Network Token SNT, is the native token of Status which is used to fuel the Status Network. Status aims to be a hub for any type of Ethereum-related activity — it can be managing investment portfolios, paying in physical stores or verifying identity. It plans to act as a service provider for all the 1800+ tokens on Ethereum blockchain.


About COSS Wallet

COSS Wallet (previously Arax) supported 12 cryptocurrencies across multiple blockchains at the time of launch. Staying true to our word, we have now successfully integrated 20 new assets over a short period of time. We now support 32 cryptocurrencies, across 9 blockchains.

COSS Wallet also offers various in-app services including mobile bill payments & recharges via cryptocurrencies. We also offer instant cryptocurrency conversions and a unique feature to send crypto with a industry-first GPS-based “Near-By” feature. It is a single storage app for multiple digital assets that gives each user true immutable ownership, and we are currently building to add several financial services to the product.

We are making every effort to bring the best services to our users and expand our partnerships.

Join the community at our various channels :

Telegram Announcement Channel: https://t.me/COSSchat

Telegram General Discussion group: https://t.me/myCOSS

Telegram API/Bot Discussion group: https://t.me/COSSAPI

Chinese Telegram General Discussion group: https://t.me/myCOSSchinese

DACH Telegram General Discussion group: https://t.me/myCOSSdach

COSS Info channel (Community managed): https://t.me/COSSinfo2

Facebook: https://www.facebook.com/COSScrypto/

Twitter : https://twitter.com/COSScrypto & https://twitter.com/COSSwallet

Reddit: https://www.reddit.com/r/CossIO/

YouTube: https://goo.gl/hd6tBg

Team COSS

IT’S TIME TO EARN SOME REWARDS! WITH THE ALL-NEW COSS (Previously Arax) WALLET

COSS WALLET star rating

Several nights of surviving on caffeine, multiple canceled vacation plans, having small treats of meeting tight deadlines, a few grumpy family members and a happy boss. The development team of Arax Crypto Wallet has finally taken a breath of relief after having gone through it all, with the rebranded and updated COSS Wallet finally making its way to the app stores.

All of us remember the big merger of LALA World and COSS.io that created the COSS Group — a larger Crypto One Stop Solution ecosystem. With a new name of the parent company, we decided to rename our beloved crypto wallet to make everything unanimous.

Our developments are not just limited to giving the Arax Wallet a new name but also extends to the addition of two new features in the wallet.

Note: For existing Arax Crypto Wallet user, you will see an update notification on your screens so you just need to simply update your App to enjoy the new features. For new users- first of all, welcome to the family secondly, click on the links below to download the COSS Wallet and leverage the benefits provided by it.

Google Play Store (v.1.1.4): http://bit.ly/cosswalletplaystore

Apple App Store(v.1.0.7): http://bit.ly/cosswalletappstore

 

What to expect from COSS Wallet.

  1. Address Book Feature

One of the innovative thinkers in our team came up with an idea which was purely born from the womb of his laziness. He thought, why to copy and paste the wallet address of people every time you want to transact cryptocurrencies. Instead, it’ll be a great idea to save them just like we save contacts on the phone. Voila! We have an address book feature in our wallet that allows you to do just that.

How to access it

Open COSS Wallet>Click on Account icon>Go to profile>Click on Address Book.

You will find a list of all your saved contacts divided into two categories, COSS and Non-COSS. To add a new contact,

Click on (+) icon> select COSS/Non-COSS user> enter the details>click on save.

It’s that simple!

2. COSS Star Rating

The Star Rating of the COSS Wallet users is a very significant feature as these ratings will determine your eligibility to avail various wallet services. The number of Stars assigned to you will reflect the level of completion of your profile.

Not just that, COSS Plus reward points are awarded to you for receiving every next star rating. These reward points can be redeemed to make mobile top-ups or can be exchanged for COS tokens (1 COSS Plus = 0.1 COS).

How to earn Star Rating

Receiving each star rating is very simple and rewarding. Here is all you need to do:

  • 1 Star Rating — Getting your first star is the easiest. All you need to do is successfully verify your email which is also the first step required to create your wallet. Easy points!
  • 2 Star Rating — When you receive the second star, you will be rewarded with 25 COSS Plus points and unlocks the mobile recharge services. All you need to do is create a COSS id and verify your mobile number.

COSS Wallet supports mobile recharges in 160+ countries and for 900+ operators allowing you to recharge mobiles of anyone, anywhere, and anytime.

  • 3 Star Rating — Things become a bit serious here. Just kidding, all you need to do for this star is complete your KYC process. Completion of this step will reward you with 50 COSS Plus points and will unlock the upcoming crypto lending and fiat to crypto services.

There are five simple steps to complete your KYC process.

  • Identity: Upload either your passport, national id or driving license. Make sure that your ID is not expired, the photo should be in color and clear with all the text and four corners of the Id visible.
  • Personal: Fill in your full name, date of birth, citizenship, and gender under this category.
  • Selfie: As the name suggests, upload your selfie clicked in good lighting conditions.
  • In-person: Here you need to upload a video with your face clearly visible. You need to speak your name thrice and the date of video recording. It shouldn’t be more than 10 seconds and 100MB in size.
  • Address: To verify your address, upload a picture of the front and back of either of the three documents- passport, national ID and driving license.
  • 4 Star Rating — After you receive your 4th star, you will be entitled to receive 100 COSS Plus points. This step is necessary to be an active participant of all the ongoing social media campaigns of COSS and earn rewards.
    For this, you need to link your social media accounts including Google, Facebook, Twitter, LinkedIn, and Telegram with your wallet account.
  • 5 Star Rating* — Coming soon
    COSS Wallet will be introduced with Biometric and Facial recognition in the near future which you will have to complete to get the 5th star. Also, you will be rewarded with assured COSS Plus points after the completion of this step as well.

What to expect in the future?

The entire team is working tirelessly to come up with rewarding marketing campaigns and new features. We will soon be integrating these reward systems and features across all COSS platforms.

Have a suggestion or found a bug?

If you have a suggestion for us or encountered any problem during your experience with COSS Wallet then please send us an email detailing your problem/suggestion along with screenshots (wherever applicable) at [email protected].

Disclaimer: These awards may be subjected to alterations based on the discretion of the company. The company holds all the rights to make any changes in the rewards allocation at any time it deems fit.

UPDATE - 10 July 2019

Update

Hello, everyone. It has been an exciting past two weeks and we are here to share what we have been working on lately. In today’s update, we discuss the following:

  • Negative maker fees
  • SPIKE listing
  • COS Swap Update
  • Delisting of projects
  • Optimisation of pairs
  • COSS Wallet app updates
  • Node fixes
  • FSA structure & dust conversion
  • Bug fixes and improved operations
  • Exchange liquidity and developments around it
  • Listing new and popular projects
  • The mobile app

Before we go into today’s updates, we want to take a moment to go into some of the events that happened since our last Medium update.

– Negative maker fees was promised and is being implemented tomorrow, 11th July at 11.30 am GMT +8. For more information, please read the full Negative Fees announcement.

Clarification: The levels are to be considered as ranges like 0–500,000, 500,001–1,000,000 and so on. The numbers you see in the table are the higher threshold number in each level.

A counter to track the volume on your individual accounts will be implemented in August.

  • Spiking’s SPIKE has been listed on our exchange. There was a joint announcement on the 6th of July as well as a facebook video between Clemen and Rune, and we are now into the 3rd day of the listing and trading promo. 5 million SPIKE is up for grabs!

– COS token withdrawals have been successfully implemented. If you prefer to store your COS tokens on an external wallet and still receive your daily FSA, please refer to our guide. The swap has been going smooth and we have been watching very closely. At the point of writing, there are about 175 million COS tokens in circulation. Do take note that CMC has not updated our circulating supply; their site still shows up as 119 million.

If you had transferred your COS to the same wallet as you used for COSS and had setup the identifier, you do not need to do anything. The external identifier needs to be setup for wallets not previously mapped with the same.

– We are delisting the following projects on our exchange. Trading was stopped on 28th June for all the following tokens:

FYN — FundYourselfNow

SENC — Sentinel Chain

STX — Stox

CAN — Canyacoin

OPQ — Opacity

TRAK — Trakinvest

ITT — Intelligent Trading Foundation

NOX — Nitro

PIX — Lampix

VZT — Vezt

Withdrawals of these coins and tokens from COSS will continue to be supported until 11.59PM GMT+8, 28th July 2019. Please make sure that any above tokens that you are holding in ANY of your COSS accounts, are transferred or withdrawn, including your FSA accounts.

– As mentioned earlier, we have taken steps to delist non-performing pairs. Pairs optimisation is next on the agenda and goes hand in hand with liquidity and volumes. We will be cleaning up the trading pairs on the exchange, and this is scheduled to be done after negative maker fees implementation. This process will be undertaken by the token review team, and it will be a continual review process from now on.

Concurrently, our token review team has also reached out to some of the listed projects on our exchange to maintain minimum volumes, while we also discuss possible promotions with them to bring in their respective communities.

– Our multi-sig warm wallets have been updated on 28th June. This is not a visible change for you, but it is an important part of our ongoing upgrade process. We are continuously working on enhancing the security of these wallets by putting proper policies, rules and structures in place.

– We published the first letter by our CEO, Sankalp, addressing the joint community. This will be the first of his monthly updates, and Sankalp will be outlining our plans, vision and mission for COSS in these letters. If you are interested in the direction of COSS post-merger, this is a letter you will find informative.

– Arax wallet has been rebranded to COSS Wallet. This marks another step towards the merging of our products into a unified ecosystem. You can find the updated apps on your preferred app stores. Again, this takes a significant marketing and development time to implement but it was an important step towards a unified brand and goal.

– In the latest update, COSS Wallet is upgraded with the following features:

  • COSS Rating: It is a very significant feature as these ratings will determine your eligibility to avail various wallet services. The number of Stars assigned to you will reflect the level of completion of your profile. For example, the second star unlocks mobile credit top-up services. All you need to do is create a COSS ID and verify your mobile number. We intend to implement the features on the exchange as well while designing the mobile experience, in time to come. No timelines yet, don’t run ahead of y/ourselves. 🙂
  • Address books: COSS Wallet now lets you save crypto wallet addresses just like contacts. No need to copy and paste the wallet address of people every time you want to transact cryptocurrencies. This is to make the transfer experience easy. Download the wallet and try out some of the features! While you are at it, don’t forget to use the Nearby GPS transfer function between family and friends.

Now, on to some updates & new developments we are working on:

Node Upgrades: We apologise for the delay in node upgrades for many months. As a first priority for July, we are going to bring BCH and Horizennodes back online, followed by the other nodes in the next few weeks. We will update you of our progress and we are working actively to bring the nodes up as soon as possible. Lisk and Ark nodes have been restored earlier and are fully operational.

New Blockchains: Now that the existing nodes are a priority, we plan the future alongside. To enhance token usage and value, onboard new users, instill liquidity, it is essential that we continue to list new blockchains and their ecosystem tokens. We are working on that as well and will include details in upcoming updates.

New FSA Structure — After implementation of negative maker fees, trading tech team is now working on the new FSA structure that we promised for July / August. The idea is to simplify the FSA structure, fee collection, token allocation and distribution as described in the last update. As for the FSA dustin user accounts, we are considering multiple options, as it needs some dev time. We shall announce the exact details when we are ready to implement these changes.

Bug & Features Fixes: The team has been fixing some of the most common bugs based on feedback from our users over the past few weeks. We are getting the issues resolved in batches. These are being tracked internally and we shall notify the community where possible. These include fixing the ‘failed to submit KYC’ error on the exchange which has been persistent.

The entire operations team has been revamped under the leadership of Ranjit as COO — he has been leading this brilliantly for LALA World/Arax support, feedback and operations functions and now quickly updating the processes for COSS.

Exchange Liquidity — This is the most important task that our CEO Sankalp Shangari, along with Rune, are actively working on every day. Here is a list of things being worked on to address this –

  • Negative Maker Fee — will be implemented on 11th July, 2019
  • New project listings — token listings have begun again and we are adding more in the queue
  • Super Trader Programme — Internal project code-named ‘The COSSanova Programme’ — keeping it under wraps for now but more details soon… watch this space!
  • Listing popular and top tokens but with more depth on order books and planning
  • New blockchains to attract new users and respective communities
  • Marketing initiatives — More details soon, including the much awaited COSSmonaut ambassador and referral programmes to expand into more geographies
  • The mobile app team is working closely with the exchange product team to figure out the best way to synch and enhance the user experience, which will bring lot of much expected upgrades to the mobile app.

Stay tuned for more updates coming your way.

You can expect to hear from us again, soon… 🙂


Join the community at our various channels :

Telegram Announcement Channel: https://t.me/COSSchat

Telegram General Discussion group: https://t.me/myCOSS

Telegram API/Bot Discussion group: https://t.me/COSSAPI

Chinese Telegram General Discussion group: https://t.me/myCOSSchinese

DACH Telegram General Discussion group: https://t.me/myCOSSdach

COSS Info channel (Community managed): https://t.me/COSSinfo2

Facebook: https://www.facebook.com/COSScrypto/

Twitter : https://twitter.com/COSScrypto & https://twitter.com/COSSwallet

Reddit: https://www.reddit.com/r/CossIO/

YouTube: https://goo.gl/hd6tBg

UPDATE: Negative Maker Fees -COSS.io

Negative maker fee

Hello, everyone.

As a step towards improving the trading fee structure for traders on COSS.io, we implemented 0% maker fees on 27th May, this year. This was an interim step towards introducing negative maker fees.

The moment we have all been waiting for… COSS is pleased to announce that negative maker fees will be implemented this Thursday, 11th July at 11.30 am GMT +8.

The exchange will be under maintenance on Thursday, 11th July between 11.00 to 11.30 am GMT +8 to implement this new fee structure.

Here is the new trading fee structure:

*Trading fees paid with COS tokens earns traders a discount of 25% on positive trading fees, where applicable.

What exactly is negative maker fees? In short, traders earn an incentive for posting liquidity in the order book.

There are several advantages to COSS and the community and in line with our vision of “Community First” & “Simple First”.

COSS has now become one of the very few exchanges in the world to have implemented negative maker fees along with the likes of BitMEX. Every step that we take henceforth makes sure that our community is kept first, while also ensuring that new users coming to our exchange are given the best trading platform possible.

The updated fee structure we are implementing can also attract more liquidity — by incentivising market makers to build a deeper order book. There are several other initiatives planned that should lead to further liquidity on COSS. We will be making more announcements in the coming days and weeks regarding those.

This is in line with our plans and promise of delivering results, and swiftly, in July.

Nothing more needs to be said. Happy trading and enjoy the negative maker fees!

Expect to hear from us again, soon… 🙂


Join the community at our various channels :

Telegram Announcement Channel: https://t.me/COSSchat

Telegram General Discussion Channel: https://t.me/myCOSS

Telegram API/Bot Discussion Channel: https://t.me/COSSAPI

Chinese telegram: https://t.me/myCOSSchinese

Facebook: https://www.facebook.com/cosscrypto/

Twitter: https://twitter.com/cosscrypto

Reddit: https://www.reddit.com/r/CossIO/

YouTube: https://goo.gl/hd6tBg


DISCLAIMER: COSS reserves the right to update this fee structure at any given time in the future depending on market circumstances and regulations.

This announcement is not meant to be taken as investment, accounting, tax or legal advice or a recommendation to buy, or sell any security, digital asset or other investment, management product or service or pursue any investment strategy. This post is for reference only. It will not help you to “lambo” or “moon” or any other euphemism for unhinged speculation. It should help you to supplement your own analysis of the project’s commercial viability.

Spiking SPIKE token listing

spike 2

COSS.io will be listing Spiking SPIKE token on 8th July, 2019.

SPIKE is the utility token of Spiking — a platform that allows you to gain market intelligence by helping traders of all levels to make better decisions.

Spiking has already won multiple awards in traditional trading markets, giving traders the ability to track the movement of ‘whales’ — what they define as significant market movers who have access to key information before that information is available to the public. Now, they are bringing their technology to the crypto sector.

By giving you the ability to follow ‘whale’ trades in the cryptocurrency market, they want to give you an even playing field, just like what they have done for traditional trading.

SPIKE will be available on the SPIKE/ETH and SPIKE/BTC pairs.

We are kicking off a trading promo for the SPIKE token along with the listing. Wallets are now open for deposits.

The trading promo will run from 08th July 2019–16:00 GMT +8 to 04th August 2019–16:00 GMT +8.

Here are the reward details for the trading promo:

Reward pool: 5,000,000 tokens

Number of rounds — 9

Each round period: 3 days

Each round pool: 500,000 SPIKE

The 500,000 SPIKE prize pool will be reset at the end of every round.

Top volume trader across the entire trading campaign wins a bonus of 500,000 SPIKE

  • Rank 1 : 10%
  • Rank 2 : 7.5%
  • Rank 3–5 : 5%
  • Rank 6–10 : 3.5%
  • Rank 11–20 : 3%
  • 10 random traders : 2%

Rewards will be distributed post the promo end.

Spread the word and happy trading. You can expect to hear from us again soon. 🙂


Join the community at our various channels :

Telegram Announcement Channel: https://t.me/COSSchat

Telegram General Discussion Channel: https://t.me/myCOSS

Telegram API/Bot Discussion Channel: https://t.me/COSSAPI

Chinese telegram: https://t.me/myCOSSchinese

Facebook: https://www.facebook.com/cosscrypto/

Twitter: https://twitter.com/cosscrypto

Reddit: https://www.reddit.com/r/CossIO/

YouTube: https://goo.gl/hd6tBg

Message from the CEO — To new beginnings…

COSS CEO

“Patience is not about waiting, but how we act when things take longer than we expect.” — Paulo Coelho

This is my first address to the joint COSS community. I intend to try and deliver my thoughts to you every month.

I have been around in the blockchain industry since 2013, but more actively since 2015. By industry standards, one could call my team and me, crypto veterans. I was lucky to have left banking at JP Morgan and Deutsche just before that; pure luck, nothing genius here. Most of those early crypto enthusiasts were dreamers, hoping to change the world. Hoping that the entire world would quickly get on the decentralised bandwagon and we would see decline in Fiat usage soon. As things turned out, yes, they were dreamers, but not entirely wrong.

Greed reared its ugly head in the cryptoverse during 2016–18 which resulted in the crypto winter of 2018. Kudos to all of you who stayed (which includes most of you reading this), fought the winter, survived, and are now looking to better crypto days ahead. However, this period of uncertainty taught us some very valuable lessons.. Here are my brief, short takeaways, especially since 2015. The arrival of winter was certainly unexpected but we are glad we survived it and came out stronger. Like Rumi said, “The wound is the place where the light enters you.” So here I list our lessons learned from our wounds:

  • Buy and HODL works fine most of the time. As COSS exchange operates for traders, and COSS Wallet operates for HODLers, I believe in personally holding a larger portion of my holding in top currencies. Of course, this is no recommendation or advice and do read the disclaimer at the end.
  • Take profits when you need to make urgent expenses and prioritise your health and family first. Nothing beats that in the bigger scheme of things called LIFE. Life is a single player game and happiness is a personal choice as someone said it.
  • Altcoins and tokens with real usage and utility had a good ride during this winter. They would do well in the summer and next winter as well. Many come to mind but you are smart enough to judge which ones those are if you DYOR.
  • Stable coins are here to stay although they are just another form of Fiat currency and a temporary on/off ramp for fiat to crypto. From survival, we have reached existence, next is mass adoption. A crypto to crypto world would be amazing but then again, don’t be a dreamer. It’s still a distant reality. Be prepared but don’t lose sight of reality (aka health & family).
  • Mass adoption is coming and the biggest companies in the next 20 years could be some public or even some private Blockchain operators.
  • Homo Sapiens is a greedy species. JPM, GS, Facebook and other FAANGS of the corporate world would not be left behind. I am yet to decipher the nature of that beast and its impact. Our entire focus is COSS — along with how and where we place COSS to work alongside the big boys. And this time, Asian corporates with global clienteles, are equally ready, able and willing to fight back. We are preparing ourselves for the inevitable, but the future is filled with many unknowns.
  • Crypto wars will turn ugly when politics and nations get involved along with these corporations. China, Russia, the US, everyone would try to control BTC and the Libras of the world. These new crypto wars would be fascinating. COSS intends to be ready to take advantage as things turn.

There are many more smaller observations, but in light of these brief experiences, we are implementing our beliefs and experiences to create a new COSS — the new Crypto One Stop Solution ecosystem.

The world’s first token merger between LALA & COSS went live on 25th June. A new token contract was deployed after carefully reviewing the tokenomics for the COSS and LALA token, going through a lot of internal and external feedback, making sure our holders’ were listened to — and building with our mantra — Simple things first.

We took a step back, analysed what went wrong, what our strengths are, what our community wants, and we made a priority task list. Humbly, we started prioritising and delivering, about a month ago. While this list might look easy to the by-stander, there’s a lot of work that goes on behind the scenes.

  • A carefully planned and the most painless and seamless token swap process was delivered leading to a unified rebranding to Crypto One Stop Solution. The logo itself and the decision to come together to one name was not easy, Bois.
  • 0% maker fees was implemented and now we are working swiftly on introducing negative maker fees.
  • Simplifying the entire base and quote pair fee collecting structure in line while making things simple — both for the community, as well as ourselves
  • A lot of work in the backend in updating the FSA structure so users now receive only COS and ETH instead of collecting token dust
  • Review of our listing and delisting process, and putting together a new team in place for this. You will hear a lot more plans in the coming weeks regarding that
  • Completing the new IEO platform that would be launched soon, along with the world’s first IEO platform on the wallet — your own COSS Wallet synched for IEO participation
  • A continuous process of bug fixes and improvements for the stability of the exchange, code fixes, technical security and many other behind the scenes improvements.
  • Improved marketing efforts which also involves designing and implementing a referral program, PR activities, aligning marketing teams together, SEO/SMM improvements for better presence, etc.
  • Hiring and building an experienced team to fuel the ecosystem we are building. This is no small task and requires a lot of screening, interviewing, resources, traveling, etc. Looks simple, but isn’t.

We are all about a great product in the hands of a great community and a continuous process of taking feedback to incorporate where we can. The month of July is here! We are certain it is going to be a really good one! Allow me to give you highlights of what our focus is for July — in line with my mantra ‘community first and simple first’.

  1. Nodes and Bug fixes on COSS exchange
  2. Better liquidity with some specially designed programmes
  3. Negative maker fee details and implementation
  4. Simpler trading fee structure with new quote and base pairs
  5. New token listings based on community feedback, both for the exchange & wallet
  6. Work starting on a major new initiative on COSS Wallet as well that you will love
  7. New marketing campaigns to cover a larger universe and attract more users with innovative campaigns
  8. Focus on users & community — user growth, user support, products that users need, user feedback.

Much much more is happening at the backend that might not be visible but here are some highlights:

  1. Tech team integrations and coming together of teams was a humongous task
  2. Wallet system upgrade and security enhancements.
  3. Working with some governments and regulators to see where to take the next leap once we are stabilised over the next two-three months.
  4. A new super trader program that product, operations, and marketing are jointly working to create. No timelines for that yet.
  5. A COSSmonaut ambassador program to recognise our brilliant supporters in every country, reward them for their efforts and spread the COSS brand faster and more effectively across the world.
  6. Hiring for senior positions, people who have run exchanges before — the more the better. We need people who are smarter than me, and who have worked in this environment before leading to a fast-paced environment. Nirmal Ranga, joining us recently is one such addition who is already creating a huge impact.

Thanks for being here with us on this journey to make COSS great.

Regards,

Sankalp Shangari

CEO, COSS Group

DISCLAIMER: This announcement is not meant to be taken as investment, accounting, tax or legal advice or a recommendation to buy, or sell any security, digital asset or other investment, management product or service or pursue any investment strategy. This post is for reference only. It will not help you to “lambo” or “moon” or any other euphemism for unhinged speculation. It should help you to supplement your own analysis of the project’s commercial viability.

The World’s First Token Merger. What’s in it for you?

Arax COSS merge

Crypto One Stop Solution was built with the vision to be a true ONE STOP SOLUTION for modern digital assets. The goal has been to provide a stable ground for the flourishing of the cryptocurrency industry supported by the massive user adoption of cryptocurrency among ordinary people.

They want to bring together people — customers, merchants, service providers, startups and businesses with different needs and resources. It was done in order to enable exchange, interaction, and mutual benefit.

This month, COSS and Arax Wallet have merged to create a larger product stack, powered by a single COS-token.

COSS was launched in mid-2017 with a vision to become one of the finest digital assets platform — a one-stop for all things cryptocurrency.

The platform has slowly built its feature stack to support:

  • a secure smart contract enabled wallet management system
  • support for 5 stablecoins
  • fiat payment gateway for international currencies
  • listing over 90+ digital assets
  • trading fee discounts using the COSS token
  • providing a unique Fee Split Allocation feature

FSA lets COSS token holders receive 50% of all trading fees generated by the exchange.

Arax Wallet currently offers a feature-set larger than other existing digital assets wallet today. Powered by the LALA token, Arax features currently include:

  • multi-digital asset storage
  • utility of digital assets for various services
  • support for several blockchains
  • full control of private keys
  • ability to send, receive and spend digital assets
  • global mobile top-ups supported in 160+ countries
  • instant digital asset exchange
  • make GPS-based transfers.

What is the new COS token?

COSS and LALA tokens will be swapped into the COS token. This world’s first token merger forms a super token, an asset combining all the features of its parent tokens, and a token that can be used on both platforms.

COSS and LALA token holders are able to swap their tokens for the new COS token on COSS.io as per the following ratio:

COSS:COS = 1:1

LALA:COS = 10:1

What are the benefits for a COS token holder?

COS token holders are entitled to 50% of trading fees generated on COSS.io through our Fee Split Allocation. The distribution is done by a Decentralised Autonomous Organisation (DAO) — a smart contract which executes the function.

An improved product stack

The COSS platform offers BTC, ETH, COS, USD, EUR, GBP and USDT as base pairs, while supporting over 50 popular cryptocurrencies. More projects are being reviewed and added.

We add to the product stack our own multi-blockchain cryptocurrency wallet, the COSS Wallet (previously Arax Wallet by LALA World) which enables utility services like in-wallet token exchange, mobile credit top-ups and transfer via GPS technology.

Large and sustainable ecosystem

As the products merge to form the Crypto One Stop Solution ecosystem, the token becomes one of the most advanced exchange tokens in the market today. We aim to be the most advanced digital asset ecosystem in the world as we add more services.

Boost to technology and resources

This merger combines the resources of both the companies. This means greater efficiency and a faster go-to-market approach.

A stronger leadership

Sankalp Shangari and Rune Evensen have a massive combined experience in their respective fields. Sankalp comes with a strong finance and entrepreneurial background, while Rune is considered a great marketer and product visionary. Supported by a strong team spread across several departments under the leadership, we build a stronger future for COSS.

Final Thoughts

The COSS team has envisioned and is determined to implement a strategy that enhances the COSS products, their security, incorporating user and community feedback, while adopting innovation.

We welcome everyone to join us in the new future we are shaping up for the Crypto One Stop Solution ecosystem. A step towards a modern economic future, today.