To keep things on topic here's a recap of all the answers @wcxofficial has already given. Got to study the answers in order not to ask the same over and over again.
Thanks for all your replies. We try to address most of the questions that came up below.
Recap of dates and timelines (planned)- Beta Launch on
September 1, 2017- ICO Start on
September 9, 2017- Launch on
October 10, 2017Questions about ICO, details, teamWe'll release more details in the coming days and weeks about this. Regarding the cap,
it will be capped. No tokens will be generated beyond the ones sold at the ICO. Any unsold tokens will be burned. The tokens that remain will pay out 20% of the exchange fee revenue regardless of how many there are, so we won't cut back on that either.
How will payouts work?If you hold WCX tokens, you'll be paid on a weekly basis directly to your WCX wallet. Payment will be made in all types of digital currencies since WCX collects fees in all kinds of cryptocurrencies.
Will you have chat on-site?Yes.
Where will you legally operate?Hong Kong and Luxembourg. No US based operations.
Bounties, campaigns, promotions?More coming up, likely including a BT sig campaign.
Do you have Slack or Reddit?Not at this time. Likely in a later phase.
You claim to have no KYC, how will you establish fiat payments?We will not require KYC for any cryptocurrency deposits or withdrawals. When we integrate fiat later in 2018, KYC will be required if you choose to deposit or withdraw fiat - this is required by the banks who hold the fiat, not us in particular.
Exchanges where WCX will be tradable?WCX tokens will be tradable on WCX itself at launch time. You'll find liquidity to either buy or sell.
When are the promo payouts made?The payouts for the BT promotion, Twitter, Coin voting, etc. are made at the end of the week. For the current promo, that is Sunday, July 30.
How will you keep people in the loop?The best way is to sign up at
https://wcex.co and also to follow this thread. We will be sending you emails from time to time with important updates.
Is it decentralized?No. At least not at first - wallet decentralization is on our roadmap. Unfortunately efficient order book exchange decentralization is not consumer ready, but we will be first to hop on board when it is.
Will you be providing trading tools, charting, indicators?Yes. WCX will have charts and tools to accommodate beginner as well as professional traders.
Can you add LTC?LTC will be available at launch. We've added a "Other" form field at the coin voting page so you can specify a coin you'd like to trade that isn't listed.
https://docs.google.com/forms/d/e/1FAIpQLSdkFM1HKmTfhDeJ5Acn5hstJFi_Mcj8KIgMk7fpvOxJ2Ua5aA/viewformCan you add IOTA, LBC, WAVES, DOGE, STR, BTS, OMNI ... ?Yes. These coins are likely to be added post launch based on demand.
Please reply in this thread concerning coins that you'd like to see added. Please don't send emails or Twitter replies concerning this.
What is the benefit of WCX tokens?This is described in the "What are WCX tokens?" section here:
https://wcex.co.
Can we have promotions that pay in WCX rather than BTC?You can sign up on
https://wcex.co and get 100 WCX right off the bat. You can then invite friends through your referral link to accumulate more WCX tokens at a rate of 200 WCX tokens for each friend you refer.
Thanks again for your replies and questions. Please find our answers below.
(Here's a link to our previous answer wiki:
https://bitcointalk.org/index.php?topic=2026078.msg20340135#msg20340135)
I can't wait to read the whitepaper. When it will be available?This will become available within the next couple of weeks. More information about the ICO fund distribution, team, etc. will also be made available.
What currencies can be used to purchase WCX tokens during the ICO?BTC and ETH. If there's enough interest we can accommodate for other currencies as well.
Are there deposit or withdrawal limits?No.
Will you have a chatbox?Yes.
Is it a decentralized exchange?No, not at first. Decentralization of user wallets is on our roadmap for 2018.
How will you compete with incumbent exchanges?Considerably lower fees, awesome customer service, and radically better user experience.
What will happen after the ICO with unsold tokens?Unsold tokens will be burned.
If you invite more than 250 people using the referral system at https://wcex.co, will they be counted?Yes. There is no limit to how many people you can invite. 250 is the max shown on the progress bar, but your balance will keep increasing if you refer more.
Where will WCX tokens be traded?They will be traded on WCX with bases BTC, ETH, and USDT.
Can we withdraw the WCX tokens from our account?Not yet. WCX token is an ERC20 token so you'll be able to withdraw it to your Ethereum wallet.
How will the commissions be paid to WCX token holders if they're held in an Ethereum wallet?Payments will be made to your WCX wallet. You'll be getting paid in all sorts of digital currencies, since WCX collects fees in many different digital currencies. If your WCX tokens are held outside of WCX itself, you'll be able to provide an ETH address on your account that we'll monitor when making payments to you.
Will you offer derivatives at launch time?No. Margin trading is on the roadmap for 2018.
Please add BNT, OMG, MYST, TAAS, PLBT.These have been added to the voting form here:
https://docs.google.com/forms/d/e/1FAIpQLSdkFM1HKmTfhDeJ5Acn5hstJFi_Mcj8KIgMk7fpvOxJ2Ua5aA/viewform?usp=sf_linkPlease let us know by replying in this thread if there are coins you'd like to trade that are not listed on the voting form.
Do WCX tokens give me voting rights concerning decisions made for the exchange?Decisions on which coins and markets to add next will be made based on public interest and voting.
Will the ICO announcement such as date and so on be posted on this thread, or will it be on another thread on the ANN subforum?We'll notify users on this thread,
Twitter, and through email if you registered at
https://wcex.co.
If a friend of mine invites another friend, will I benefit?No. You'll get credited for the first level of friends you invite (not multi-level).
Thanks again for your replies and questions. Please see our answers below.
Our previous answer wikis, where we answer frequently asked questions, are available here:
https://bitcointalk.org/index.php?topic=2026078.msg20340135#msg20340135 https://bitcointalk.org/index.php?topic=2026078.msg20362180#msg20362180How long will the referral program be active for?It'll likely be active till the Beta launch in early September. The rewards will decrease over time. The sign up bonus promotion is likely to
decrease from 100 WCX to 50 WCX in the next 24 hours, and the referrals will
decrease from 200 WCX to 100 WCX per friend.
Added QTUM, WINGS, STORJ, MINEREUM, STEEM, ANT, BYTE, XZT, BCC to the Coin voting form.You can find a list of coins we’re considering here:
https://docs.google.com/forms/d/e/1FAIpQLSdkFM1HKmTfhDeJ5Acn5hstJFi_Mcj8KIgMk7fpvOxJ2Ua5aA/viewform. You can suggest other coins to add by replying in this thread.
How will the revenue sharing process work with WCX tokens?Payments will be made to your WCX wallet. You'll be getting paid in all sorts of digital currencies, since WCX collects fees in many different digital currencies. If your WCX tokens are held outside of WCX itself, you'll be able to provide an ETH address on your account that we'll monitor when making payments to you.
How does the referral system count referrals?Referred users need to verify their email for them to count.
I'm getting an “Account already in use.” error when trying to sign up at https://wcex.co.This means your IP has already been used. It’s one registration per IP.
Is there a minimum of WCX needed to receive revenue share payments?Yes, although this hasn't yet been determined. It'll be low - the measure is simply taken to avoid blockchain spam.
Plans to list on other exchanges outside of WCX?Not at this time. Liquidity to buy or sell will be available on WCX for WCX tokens at launch time.
How to participate in the Beta launch?We'll be looking for beta users. This will be communicated in this thread, on Twitter (
@wcxofficial), and by email (the one you used to register at
https://wcex.co).
Will you support BCC? We'll support all coins with enough interest from the public, measured mainly through voting/polling.
Very nice to see everything answered. A good job!
