Channeling Big Volume

We are looking for a solution to channel the purchases from our partners through our order books. Since we launched XNFTrading 2.0, we have not ran big purchases through the platform. However, we do use the wallet system to credit the buyers, but the whole community is missing out on the demand that actually exist for XNF.

Why is it a difficult solution to implement?

The fact of the matter is that right now there is more demand on the buying side. If you look at the selling volume on XNFTrading.com, there is not enough to supply an investor that is buying 100K or 200K USD worth of XNF coins. These partners also get a discount and therefore abstain from going through secondary markets to get their Nofiatcoins. 

The Way Forward

Last week we encouraged one small partner to purchase his XNF coins directly on the markets (XNFTrading.com and the ripple network). I am sure everyone noticed the change and price stability this caused. The volume that you saw does not even represent 15% of the demand coming from our partners. So we are going to make these moves more often, at least once per month.

Update on Banking

A couple of weeks ago I wrote about the banking disaster that occurred when we moved our funds from Hong Kong to the Dominican Republic, because we thought it would be faster to process withdrawals for our clients. Reality hit us hard and we had to send the funds back to Hong Kong and then the protests broke out and the financial district came to a halt. That definitely caused more unexpected delays.  If you are unaware of what was happening, please visit this link.

Something that I want to point out, is that even when there is no ongoing revolution, banks are always trying to find an excuse to hold or kick back transactions. This is why we are working on creating our own financial institution. In the meantime, we want to promote the other gateways such as justcoin and ripplefox. Collaboration is always a great way forward.