Mandala Exchange Update- September 25, 2020
Greetings from the Mandala Team,
We’re pleased to bring you this update- we’ve been hard at work and are getting close to launch. We’re still finalizing multiple details, but here’s an update on our progress as we work towards locking in a launch date.
Mandala will launch in Q4 of this year. As we become more confident in a specific date, we will share with the community.
We’ll be opening the doors for a one-week soft launch in order to let users register, pass KYC and swap MDX tokens to the new contract.
Once the soft launch period ends, full functionality including trading will be enabled.
We’ve shifted our focus and gained our license to operate from the Seychelles. The process in this jurisdiction is streamlined, allowing us to meet our timeline and operate internationally with confidence.
We expect to have our license within the coming weeks. More than one exchange is licensed there, and the crypto landscape is quite favorable. We’re still planning to be licensed in Estonia at a later date.
By operating out of the Seychelles, we are able to allow for users a 2 BTC/day withdrawal limit without having to KYC. This will lower the barrier to entry and help us to attract and retain new users.
The exchange is fully built and we’re continually performing extensive tests, including security/penetration testing and are in the process of remediating all issues. We’re also finalizing our API documentation and building out our knowledge center and support structure to ensure we provide you the highest level of service possible.
From all of us here at Mandala, we’d like to thank you for your continued support as we drive towards the launch on Binance Cloud. We’re incredibly excited to open our doors and begin building our user base!
The Mandala Team