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lalaworld

TRADING FEES UPDATE

Zero fees

Traders are a critical part of our ecosystem, and we thank you for your support.

We have had many queries regarding changing to a negative maker fee structure from our community.

Multiple fee models have been investigated and your feedback has also been taken into account.

A change to negative fees is quite a complicated task; more complicated than simply changing a few parameters. In the meantime, we will implement a ‘stop-gap’ solution while our developers ready the system for negative fees.

Starting next week, we will set the MAKER fees at 0 and the TAKER fees at 0,2% (0,15% with 25% discount function) This will be a fixed fee with no tiers so ALL traders can enjoy this.

Here is the new trading fee with negative maker fee that we aim to deliver during June:

                                                                               Subject to change.

As you can see, we are reducing the tiers to 3 to make the entire fee structure easier to grasp for everyone. Do note that this structure is subject to change and the numbers shown may or may not be the final one, but we should be very close.

Short news today; but one we feel you would welcome!

Meanwhile, we continue working on our roadmap, short- and long-term deliverables and the upcoming token swap into ARX. We will keep you posted as we get closer.

Join our community at various channels :

Twitter: https://twitter.com/AraxApp

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

LinkedIn: https://www.linkedin.com/in/araxapp/

Instagram: https://www.instagram.com/araxapp/

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

BitcoinTalk: https://bit.ly/2TA5mGR

Telegram: https://t.me/LaLaWorld

We are doing our bit to make crypto adoption a reality with Arax.

Stay tuned for more updates!

Best,

Team Arax

Arax Pizza Carnival – Guess Bitcoin Price & Win a Pizza For Next Three Months

Arax pizza 1

Dear Pizza & Crypto lovers,

Arax offers you all to win your favorite Pizza for three straight months, yes you heard that right. Arax takes the baton from the Bitcoin Pizza legend Laszlo Hanyecza and makes sure the tradition carries on.

All you need to do is guess what will be the BTC price on 31st May’19 at 4:00 PM Singapore Time. Along with that share your quirky & creative Pizza selfies on Twitter, Instagram or Facebook tagging @AraxApp and @Coss.io using #BitcoinPizzaDay and #AraxPizzaCarnival

Please Note: The top10 right or the closest guesses including the best 10 creative selfies will win a Pizza every month for three months. (T&C applied)

Entries close on Saturday, 25th May’19, 7:00 PM Singapore Time

Arax pizza

Terms & Conditions

1. Each participant needs to Download and Signup on Arax App (available both on Android & iOS).

2. Create your Arax Id in the App (Example [email protected]).

3. Only the Bitcoin price on https://coss.io/ will be considered while choosing winners.

4. Submit your entries here by 25th May’19, 7:00 PM Singapore Time.

5. Top or the closest 10 entries will win up to $15 worth of crypto in their respective Arax Wallets for their favorite Pizza.

6. Special mentions of all the winners on official website & social channels

7. Participants can win a pizza for Three months by following these steps (Mandatory)

a. Submit your BTC price guess along with your Arax Id in the provided link

b. Click a selfie with your Pizza, solo or with your gang

c. Upload and Share the selfie on Twitter, Instagram or Facebook

d. Tag @AraxApp @Coss.io and use #BitcoinPizzaDay #AraxPizzaCarnival

8. The best 10 quirky selfies will be picked and adjudged winners by our Management Team

a. Winners need to do at least 3 transactions every month to be eligible for the Pizza deal

 

All the best,

Team Arax

Bitcoin & other crypto assets are sky-rocketing; put your ARAX wallet to use

At the start of the BTC rally i.e., on February 7, 2019, the price of Bitcoin was $3,409. The momentum of the rally caused the price of BTC to be $8,023 (an increase of over 200% in BTC market cap ) at the time of writing which is still increasing. I know, many of you would be interested in entering the crypto space at this time because, obviously, FOMO. However, before you purchase your first BTC, here are a few things that you need to keep in mind.

  • Bitcoin is a decentralized currency, free of centralized control. Not even the pseudonymous creator of Bitcoin can change the rules of the Bitcoin protocol.
  • Bitcoin is very secure as every transaction made with BTC is encrypted. It is maintained on a worldwide Blockchain and cannot be seized or demonetized by anyone.
  • The entire Blockchain of Bitcoin is maintained by a network of miners who work together to secure the network, and in the process maintaining a verifiable and incorruptible ledger of all transaction. It is transparent and anyone can check the data freely.
  • Bitcoin transactions are made with wallets which means that the source of transactions or wallet addresses can be identified but not the owners of those wallets. This makes BTC anonymous.

Safety Measures to take before and after buying Bitcoin to safeguard your digital assets.

  • Bitcoin is a decentralized currency, stored on a ‘address’ on the blockchain. A decentralized wallet keeps your private keys on a Blockchain server which means even if the wallet is hacked or shut down, you will be in possession of your private keys.
  • Never share or lose your private keys as it is your private keys which give you access to your assets. If malicious parties get access to your private keys, they will get into a position of stealing your digital assets.

ARAX as a safe crypto wallet option

When talking about safe and secure cryptocurrency wallets, Arax has some of the best security features to offer.

  • It is a great option if you are the owner of more than one cryptocurrency as it stores 30+ cryptocurrencies in one single wallet.
  • It is a decentralized wallet which means all the private keys are saved with the user and not visible to Arax thus ensuring your privacy and security of the assets.
  • The wallet has ease of control with one master password. You can access all your private keys with this one password releasing you of the worries of remembering different private keys.
  • Arax also facilitates crypto to crypto swap within the wallet.
  • You can send and receive crypto via GPS using the Near-by feature offered by the wallet.

As a new BTC investor, things can get quite confusing. However, we hope we helped you a bit here. Take your decisions wisely and store your crypto in a safe and decentralized wallet like Arax Crypto Wallet.

Disclaimer – The Content is for informational purposes only and doesn’t include any professional investment advice. You should not construe the provided information as professional and/or investment advice.

Maker (MKR) is now live on Arax

MKR now live on Arax

Hello Community,

As usual, Arax won’t go about the week without announcing another coin integration.

We are expanding our arena by incorporating an increasing number of coins every week and making ourselves more inclusive.

This time, we have integrated MKR in our Crypto Wallet App allowing all the Arax users to send, receive, store and exchange the cryptocurrency from one single wallet.

About MKR

Maker or MKR is an Ethereum based token which is native to Maker project and is used as a governance token. The primary purpose of this token is to establish a line of decentralized cryptocurrencies which will derive its value from tangible and valuable assets like currency, gold, etc.

Essentially, Maker is a decentralized autonomous organization which was established with the aim of minimizing the price volatility of its own stablecoin DAI. However, the MKR is itself volatile. It is a utility token whose price rises with the increased utilization of DAI.

About Arax

Arax, at launch, supported 12 cryptocurrencies across different Blockchains. Staying true to our word, we have now successfully integrated 19 new coins over a short period of time. We now support 31 cryptocurrencies across 9 Blockchains.

Arax also offers various in-app services including mobile bill payments & recharges via cryptocurrencies. We also offer instant cryptocurrency conversions, and remittance (to be live soon). You can also send crypto with its industry-first feature “Near By” via GPS instantly. It is a single storage app for multiple digital assets that gives each user true immutable ownership.

We are making every effort to bring the best services to our users and expand our partnerships. Follow us on our social media channels for more updates. We extend our heartfelt gratitude for your undying love and support.

Best,

Team Arax

Join Us:

Telegramhttps://t.me/LaLaWorld

Twitterhttps://twitter.com/mylalaworld

Website– arax.io

COSS.IO ARX SWAP Announcement May 13th, 2019

Arax announcement

Dear Communities,

First of all, we wish to thank you for all the feedback we have received over the past week regarding both companies coming together.

There were a lot of mixed reactions to our proposals. This process has also led to an erosion of trust between two good communities and the team. This is the last thing we want, and that is why we have spent a lot of time, internally and externally, to come up with this conclusion.

You have made your point. Two major feedback on the merger and token swap:

1. Little or no token dilution — both COSS as well as LALA / ARAX holders
2. Favorable Swap Ratio — especially when it comes to CFT vs LALA

There was a whole host of other feedback on other aspects of our business. We have taken them fully into consideration. We have also worked on multiple iterations alongside our financial and legal advisors.

We have decided not to hold a vote.

While we have tried our very best to be as democratic as possible in this process, we realized that it is impossible to please everyone. As democratic as that process may be, as business owners, we owe it to you, to make good/tough decisions, and do what is best for everyone, as best as we see fit and move forward.

We will have ONE token (ARX) across the entire ecosystem, BUT we will NOT increase the supply above the already existing 200M COSS tokens.

How can this be achieved: We will use the founders and team’s existing tokens and future funding pool to keep an equilibrium. The total token supply will not get diluted. This means the majority of the new ARX token will be in the circulating supply, from day one.

Other changes to be noted:

  • Fee Split Allocation (FSA) of 50% for everyone- The new ARX token will still have the FSA you know and love
  • Trading Fee Discount for everyone- We are incorporating CFT’s token use case into the new ARX token
  • The Time Deposit (TD) feature will be removed
  • A percentage of our profits will still be used to buy back tokens in the open market. The use case for these tokens shall be evaluated at a later stage by the company

With these changes, we project a higher revenue, which will allow us to rebuild our company war chest over time. For now, we have enough finances to cover our development and team expenses.

The plan is to look into various other planned features and implement them if/when we feel the time is right. We are here for the long run, and we are building for the future.

These are our final numbers:

The new MAXIMUM supply will be 200M ARX

*The company has been collecting CFT for the last few months as a part of its trading fees

**The company founders and team tokens were unlocked after 12 months

Rationale:

These ratios are calculated based on 2 major considerations:

1. Beyond looking at factors such as market cap, trading price, trading volume, ICO price, etc, we considered non-tangible factors such as what the LALA team would bring to the table: their technical expertise, resources, marketing, experience, etc. With this merger, we are in a much better position than before to deliver a product that you expect of us. At the same time, COSS adds immense value to the ARAX wallet and its token utility.

2. The realization that we might never be able to come up with a swap ratio that is satisfactory for everyone, which is why we took the hard choice of making an executive decision, take the best choice possible for all stakeholders, and move forward.

These are hard choices. Our actions will speak louder than words, to earn back the trust and support you have given us.

This decision will allow us to focus on delivering on our promises to you: A good exchange with great features combined with a state-of-the-art wallet.

A more detailed feature list and product roadmap will be released next month. However, for the next three months, our focus is very clear:

COSS Exchange

  1. Liquidity and Market Making
  2. Negative makers fee
  3. Withdrawal and deposit through APIs
  4. New listings and nodes
  5. Exchange performance and scalability

ARAX Wallet

  1. Improved UI/UX performance and integration with COSS
  2. New tokens and blockchains in sync with COSS
  3. New crypto product partnerships like lending via third-party providers
  4. Transactional discount on every product using ARX token and more use cases for ARX token
  5. Referral, rewards and loyalty program synced on both platforms

Next steps:

The swap process shall be done in two steps:

Step 1: Conversion of CFT into COSS will happen on Wednesday, 15th of May, 2019 starting 2 PM, SG time.

  1. Swap Ratio: 1 CFT to 0.5 COSS
  2. CFT’s 25% discount use case will be stopped effective immediately
  3. CFT’s token use case will be transferred to COSS token
  4. CFT trading and withdrawals will be stopped and disabled
  5. We will swap all CFT into COSS, including those in your FSA wallet
  6. CFT will be de-listed and all CFT trading pairs will be removed
  7. All subsequent deposits of CFT token into the exchange after Wednesday will be swapped into COSS token on a weekly basis
  8. Deposits and swaps will be open until 1 week before step 2
  9. We will also temporarily disable our referral program until further notice to re-evaluate our referral mechanics

Step 2: Conversion of COSS and LALA into ARX (Conversion process to start in June. Conversion details to be announced later in May 2019)

Swap Ratio of ARX to COSS: 1 to 1

Swap Ratio of ARX to LALA: 1 to 10

Both swaps, Step 1 & Step 2 will take place ONLY on COSS.IO. The Company reserves the right to change the swap process. The swap will be open for an extended period of time to ensure nobody misses out.

The new ARX smart contract will contain all the planned features such as FSA, airdrop function, etc. and trading fee discount will obviously be one of the other use-cases.

We sincerely hope that the entire community will stand behind us in this decision and allow us time to focus and deliver on our promises.

Best regards,
Sankalp & Rune

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, but rather as a rough template to show the process behind how both companies as described above intend to come together, both at token level as well as company level. Given this field is relatively new, best practices on what to do and what not to do are still being defined. If you have suggestions or contributions, please share them with teams in a direct message. The Companies reserve the right to change the process or any part thereof this announcement. This announcement 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 Companies are in constant discussion with their legal and financial advisors and reserve the right to change the process or terms till final tokens are swapped.

Jetcoin (JET) is now live on ARAX

Jetcoin partners with Arax

Dear Community,

We are here again with another exciting announcement for you all. Staying true to our promise of adding more crypto coins in the Arax family, we are announcing the integration of Jetcoin in the Arax Wallet.

Jetcoin holders will now be able to reap the benefits of all Arax services and features. The Crypto Wallet, which became a bit more Universal today will facilitate the storage, sending, receiving and exchange of Jetcoins on its platform.

About Jetcoin

Jetcoin is digital fuel designed with the purpose of providing fans and supporters unique opportunities in the fields of sports and entertainment. The Jetcoin platform allows fans to actively participate in their chosen athlete or talent’s rise to the top and in return, benefit financially from their success. In addition, JET token holders also have access to lifestyle experiences in the form of unique rewards, exclusive events, backstage opportunities, seat upgrades, VIP box access, dedicated merchandising, amongst others.

Sankalp Shangari, CEO of Arax Crypto Wallet said, “With this partnership, Arax has become an active element in the disruption of the sports and entertainment industry enabled by Jetcoin. Not only will Arax users be able to enjoy a wider variety of coin options but Jetcoin users will also be able to avail the benefits of a secure, versatile, unique and new age wallet.”

 

About Arax

At launch, Arax supported 12 cryptocurrencies across different Blockchains. Staying true to our word, we have successfully integrated 11 new coins. We now support 29 cryptocurrencies across 9 Blockchains.

Arax also offers various in-app services including mobile bill payments & recharges via cryptocurrencies. We also offer instant cryptocurrency conversions, and remittance (to be live soon). You can also send crypto with its industry-first feature “Near By” via GPS instantly. It is a single storage app for multiple digital assets that gives each user true immutable ownership.

We are making every effort to bring the best services to our users and expand our partnerships. Follow us on our social media channels for more updates. We extend our heartfelt gratitude for your undying love and support.

Best,

Team Arax

Join Us:

Telegram– https://t.me/LaLaWorld

Twitter– https://twitter.com/mylalaworld

Website– arax.io

Arax – Our Transformation and New Beginnings Towards Growth. 16th Monthly Round-up

Dear Community,

April is symbolic of the arrival of spring, a time when everything is blooming and renewed. It is a time of full emergence and growth and that’s exactly how the month turned out for us. Arax completely resonates with the phrase, “April showers bring May flowers” as April has provided us with the gust that we needed to bloom and flourish.

The team managed to accomplish what was planned and looks forward to an eventful next month. Let us take a quick look back.

Arax & Coss.io Merger

The biggest news for the entire crypto community was made in this month of growth and expansion. Arax announced its merger with Coss Exchange which will also lead to the merger of the two tokens and form one master token called ARX. This merger marked the growth phase of the Arax community in conjunction with the Coss community. Read more

Arax coss partnership

Arax Partnered with FIO

April also brought some new partnerships as Arax partnered with FIO. The Foundation for Interwallet Operability (FIO) is a consortium of leading wallets, exchange, and crypto payment processors supporting the FIO Protocol — a decentralized Service Layer that removes the risk, complexity, and inconvenience of sending and receiving tokens and coins identically across every blockchain. With this partnership, Arax is looking at an ally who shares the mutual vision of expanding Blockchain adoption among various sectors. Read more

New Coins & Tokens Integrations

New coin integrations for Arax have been really important and the team has been consistent at delivering to bring new coins to ARAX. Good project coins like Golem (GNT), Augur (REP), DigixDAO (DGD), Civic (CVC), Crypto.com (MCO), Kyber network (KNC), Mithril (MITH), Populous (PPT) and Waltonchain (WTC) were successfully integrated, taking the coins & tokens tally to 27 coins across 9 Blockchains. Allowing all our wallet users to store, send, receive and exchange nine new coins, all from a single wallet.

New coin integration

Arax at Various Summits

Arax was a part of Crypto Invest Summit 2019 which is one of the biggest rendezvous of Blockchain entrepreneurs, investors and developers, held at Los Angeles Convention Centre on 9th & 10th April. In addition to that Sankalp also represented ARAX at the 3rd International Blockchain Life Summit in Singapore on 23rd and 24th April 2019. Met a lot of important people at both the summits and there are few potential expansion partnerships being discussed.

Flagship LALA World App to be Discontinued

ARAX is the newest, meticulously designed and most accepted addition to the crypto community from LALA. LALA World was the foundation stone for everything we dreamt of achieving, making it a perfect case for mass adoption. Our spirits continue to remain high since our transformation from LALA Wallet to the new decentralized “ARAX Wallet”. As per the official announcement last month, the team will discontinue its flagship LALA Wallet today (7th May 2019) channelizing all its focus and energies in further development & expansion of now official wallet “ARAX”. We request you all to treat this as a formal announcement from the company.

Newsletter design

Arax Announced Bug Bounty Campaign

The second round of Arax Bug Bounty Campaign went live mid-April, having exciting rewards for the winners. Seeing a good response from the developer communities worldwide in the first edition, this was an initiative to further grow the Arax developer community along with the users to help identify any vulnerabilities in Arax. Making more global communities acquainted with the decentralized Arax wallet as it reached its 10K+ download mark this month. Speaks volumes of its growing popularity in this short span.

Round up post

April was a month of expansion and growth for the Arax Community. We are thrilled that our efforts are paying off and we are continuously expanding the wallet’s services and reach. We aim to move steadily ahead on this path and bring to you more exciting news and announcements.

We are doing our bit to make crypto adoption a reality with Arax – Your Universal Crypto Wallet.

Stay tuned for more updates!

Best,

Team Arax

KuCoin Shares (KCS) is now live on ARAX

Kucoin live on Arax App

Hello Community,

We are excited to break the news of another coin integration in the Arax Crypto Wallet.

Your favorite wallet has become a bit more Universal with the addition of a new coin in the Arax family.

You will now be able to store, send, receive and exchange KCS coins along with your other cryptocurrencies in your Arax Wallet App.

About KuCoin Shares(KCS)

KuCoin Shares (KCS) is the native token of the KuCoin crypto exchange making it an exchange based token. KuCoin tokens are popular among its buyers and holders since the exchange shares 50% of the overall trading fee revenue with the holders of the coin holders through the tokens.

It implies that holders are able to profit from the success of the exchange. These rewards are received in the form of dividends and are directly proportional to the amount of KuCoin Shares a person holds.

About Arax

Arax, at launch supported 12 cryptocurrencies across different Blockchains. Staying true to our word, we have now successfully integrated 16 new coins over a short period of time. We now support 28 cryptocurrencies across 7 Blockchains.

At present, Arax is supporting the below-mentioned coins:

  1. Bitcoin
  2. Stellar
  3. Ripple
  4. Litecoin
  5. Ethereum
  6. LALA Token
  7. 0X
  8. Binance
  9. Basic Attention Token
  10. OmiseGo
  11. TrueUSD
  12. Tron
  13. EOS
  14. DAI
  15. Lisk
  16. Polymath
  17. ZIL
  18. AE
  19. CVC
  20. GNT
  21. REP
  22. DGD
  23. MCO
  24. KNC
  25. MITH
  26. PPT
  27. WTC
  28. NPXS
  29. KCS

Arax also offers various in-app services including mobile bill payments & recharges via cryptocurrencies. We also offer instant cryptocurrency conversions, and remittance (to be live soon). You can also send crypto with its industry-first feature “Near By” via GPS instantly. It is a single storage app for multiple digital assets that gives each user true immutable ownership.

We are making every effort to bring the best services to our users and expand our partnerships. Follow us on our social media channels for more updates. We extend our heartfelt gratitude for your undying love and support.

Best,

Team Arax

Join Us:

Telegram– https://t.me/LaLaWorld

Twitter– https://twitter.com/mylalaworld

Website– arax.io

Pundi X (NPXS) is now live on ARAX

Pundi X (NPXS) is now live on ARAX

Hello Community,

Arax Crypto Wallet has become a bit more Universal with the integration of a new coin.

You will now be able to store, send, receive and exchange Pundi X (NPXS) coins along with your other cryptocurrencies in your Arax Wallet App.

About PUNDI X (NPXS)

Pundi X provides a complete end-to-end solution for contactless and mobile retail point-of-sale (POS) including a full-stack reference implementation of all the components. It includes a mobile application, a contactless smart card, and point-of-sale (POS) terminals that will be available soon in the market.

NPXS is the native currency of Pundi X ecosystem and these tokens can be used as a loyalty awards for a deduction of the transaction amount. It will encourage consumers to use Pundi X to make purchases. It also helps store owners to increase the revenue and customer satisfaction and further increase Pundi X’s business network.

Pundi X plans to bring its payment ecosystem – the XPOS, XWallet, and XPASS – to even more consumers and businesses across the world. They have been deploying blockchain-based point-of-sale (POS) solutions and solidifying partnerships with governments, payment companies, and retailers.

About Arax

Arax at launch supported 12 cryptocurrencies across different Blockchains. Staying true to our word, we have now successfully integrated 16 new coins over a short period of time. We now support 27 cryptocurrencies across 7 Blockchains.

At present, Arax is supporting the below-mentioned coins:

  1. Bitcoin
  2. Stellar
  3. Ripple
  4. Litecoin
  5. Ethereum
  6. LALA Token
  7. 0X
  8. Binance
  9. Basic Attention Token
  10. OmiseGo
  11. TrueUSD
  12. Tron
  13. EOS
  14. DAI
  15. Lisk
  16. Polymath
  17. ZIL
  18. AE
  19. CVC
  20. GNT
  21. REP
  22. DGD
  23. MCO
  24. KNC
  25. MITH
  26. PPT
  27. WTC
  28. NPXS

Arax also offers various in-app services including mobile bill payments & recharges via cryptocurrencies. We also offer instant cryptocurrency conversions, and remittance (to be live soon). You can also send crypto with its industry-first feature “Near By” via GPS instantly. It is a single storage app for multiple digital assets that gives each user true immutable ownership.

We are making every effort to bring the best services to our users and expand our partnerships. Follow us on our social media channels for more updates. We extend our heartfelt gratitude for your undying love and support.

Best,

Team Arax

Join Us:

Telegram– https://t.me/LaLaWorld

Twitter– https://twitter.com/mylalaworld

Website– arax.io

Proposed ARX Tokenomics and SWAP details

Arax Coss merger

PREFACE: We kindly recommend that you take the time to read through this document carefully, as this is a fairly detailed document. There is also a YouTube video that we encourage you to watch which should answer some of the common questions you have.

Do take note: The scope of this document focuses only on the ARX token and SWAP details for the community to vote on. More detailed announcements on how and when the swap will take place will be released in the month of May once we have firmed up the technical swap details.

1. What is ARX?

ARX is the new multi-use-case cryptocurrency utility token, that enables token holders to benefit from a variety of use cases across multiple platforms than just one single utility, such as (but not limited to) the COSS Exchange, the ARAX wallet, Decentralized Exchange and many more products and features to create a unique ARX ecosystem.

2. ARX Token Utility

We are proposing four major utilities as described below. ARX token will become the native token across the entire ecosystem and will have multiple use-cases added that will enhance the value of the FSA

  1. FSA: Fee Split Allocation

Through a unique DAO (decentralized autonomous organization) system as before in COSS, the holders of ARX tokens will be eligible to receive a portion of the trading fees generated on COSS (Centralised Exchange) and upcoming COSS-X (Decentralised Exchange). As a result of this, we expect the FSA to benefit from increased user sign-ups and trading activity across two exchanges. FSA % on COSS will stay at 50% as before. FSA % on COSS-X will be confirmed at a later date but we are expecting between 25–50%. FSA % fees for most other products that are planned to release will be determined as we launch these products in the future keeping in mind costs, net fees, and current regulations.

2. Trading Fee Discount*

Use the ARX token to pay your trading fees on COSS and COSS-X and obtain a 25% discount on your trading fees, just like the previous CFT Token. Net fees collected will be part of the FSA (see above)

3. Time Deposit (TD)*

A new utility previously not present in COSS/CFT/LALA tokens: Time Deposit (TD). Time Deposit is a feature inside the ARAX App where ARX token holders can lock up their tokens and earn Time Deposit rewards as proposed below. One can enter multiple Time Deposit options for 3 months, 6 months, 9 months, 12 months, 18 months and 24 months. Furthermore, while your tokens are in TD contract, they will still be eligible to receive FSA. That means more earnings if you hold your tokens in TD, and not just the FSA. TD rewards will be added to your balance upon maturity of your chosen TD contract.

We believe this is a great addition to the already existing utility of the token. While the FSA and Trading Fee Discount get rolled into one single ARX token, the addition of TD creates a massive opportunity for all, especially the long term holders. However, this feature demands that we increase the supply by a little bit as proposed in options below:

Arax and Coss tokenomics 1

4. Buy-back/Burn

On a quarterly basis, the group of companies in the ARX ecosystem will use 20% of its net profits to buy back ARX tokens (Profit Tokens) from the open market.

  • 50% of these Profit Tokens will be burned through the built-in Zeppelin burn function in the ARX smart-contract
  • The other 50% will be used to refill the Time Deposit pool, ensuring that the TD reward program can continue to run seamlessly
  • The burn will stop once the max supply reaches back to 200m. ( regardless of option A, B, or C as proposed below in section 4 )

3. Advantages of the New Ecosystem

We understand your concerns. Token dilution is not something anyone wants. But we would ask you to consider this: It is not possible to combine 3 token supplies together and expect the final token supply to remain the same in percentage. What we CAN do, however, is keep the supply increase to a minimum, AND enumerate for you why combining the tokens will be beneficial for you in the long run.

Combining COSS, CFT and LALA tokens into one ARX token gives various advantages:

  1. Bringing our communities together
  2. Create new utility use cases and cost benefits that would not have been possible before
  3. A larger ecosystem that benefits the FSA in the long term and creates a stronger, more sustainable platform
  4. More technology and marketing resources leading to cost efficiency and faster go to market
  5. A combined entity makes us more attractive to partners, vendors, and investors leading to ecosystem growth
  6. More products, features, and revenue which should ideally benefit token holders through the FSA as well as other utilities

Arax x

* FSA % on various products and features going forward (except the already committed FSA % on COSS Trading fee) will be determined as we plan and launch these products in the future keeping in mind costs, net fees, and current regulations.

** Some features & products are from third parties partners as we don’t intend to / can’t build everything ourselves

*** We are going to run master nodes of several PoS Tokens and split a portion of that net fee with the community as above. Users can also stake their own coins, earn staking income as a feature via our master nodes, as well as earn on the FSA at the same time. Net fee will depend on the operational cost of running the master nodes.

*We have not decided the date and plan to release this and many other products yet. We are working on the product roadmap.

4. Proposed Token Options

What were our thoughts behind these numbers regarding Ratio, Communities, and Companies:

Obviously, we felt that all would agree that the most valuable use case was with the COSS token and its FSA hence why we decided to use the COSS token as the benchmark in the proposal. We then looked at the price of all 3 tokens before the pre-announcement.

Then we took into consideration CFT that was originally 10 cents per token. CFT token holders will now get an added valuable use case through the FSA that also will work as compensation over time.

The most difficult one was definitely the LALA token. Regardless of how we twisted our brains, we ended up with plus and minus on all proposals and either way it would impact one or the other. Here we also looked at what the company and the community bring to the table through a solid up and running dev team, marketing team and an existing community. The LALA community also have a solid base of very loyal long term holders even without a recurring use case such as FSA. This part alone is a very valuable addition to any community.

We certainly hope and feel that we have landed on some decent proposals that the communities can come together on, and start delivering on multiple products that we have planned for the ARX ecosystem.

We present three options below: Option A, B, and C.

arax and coss x*These tokens are not eligible for FSA until after distribution in the future

EXPLANATION OF FUTURE TOKEN USAGE:
Future Funding Pool: Most of this pool is a continuation of the token pool from previous COSS/LALA funding token pools. This will be used to secure the companies future and to ensure proper ecosystem growth by having funds available for issuing to partners, vendors, certain payments and acquiring of projects that fit the profile of the ecosystem. Tokens used here will only go into the FSA calculation and circulation when used. On certain projects, the community will be able to participate in decision making through voting.

Airdrop/Promotions/product marketing: A liquid token is very attractive for marketing agencies within the crypto space and we have already utilized this option earlier to pay for marketing with tokens as well as various schemes to current holders and/or external holders to bring them into our ecosystem. Media and PR are essential in crypto space today and can be leveraged via ARX token payments. Incentive schemes for marketing agencies, media partners, various freelancers who help us with the content, etc are all earmarked for payment via this pool.

Charities: In line with our original whitepaper we wish to uphold this profile, but also to expand it into scholarships for tech students in 3rd world countries where these students can become future assets for the ecosystem at the same time as they get an education and a more prosperous future. Charity donations will be based on community proposals and voting. LALA/ARAX has also been at the forefront of financial inclusion and charity. As a combined entity, our goal is to give back to society and create a better place. A formal plan, structure, and features are being planned to be utilized via this pool

Bounties/referrals: We wish to build a strong referral program across the entire ecosystem and bounties are always essential in this line of business, whether that be for aiding on marketing and/or for ecosystem security measures (hacker bounties etc). This not only helps us to create a larger community but also create brand awareness.

Employees/Advisors: As we grow products and geographies, it is very essential we put together the best of the best team. Advisors as well as employees. We are in talks with several new hires for new products as well as a board of advisors to give us strategic direction. Everything is planned and will be announced in time. These future colleagues also need to be incentivized and have their skin in the game at the same time.

5. How to Vote

We would like to have your feedback on the above-proposed ratio and token supply. Again, we appeal to you to read the entire document carefully. Think deeply on this, discuss amongst yourself and feel free to ask any questions you have before voting starts.

We will release the link for the community to vote on the 6th of May, Monday, 9 AM, SG time.

Terms and conditions:

  1. You must use your ARAX App ID ([email protected]) OR your COSS registered email to vote
  2. Voting starts on the 6th of May, Monday, 9 am, SG time and ends on the 8th of May, Wednesday, 2 pm, SG time
  3. Only 1 vote per account is allowed, and revisions are not allowed
  4. In the event of a stalemate, the company reserves the right to take a decision at their own discretion

Results will be published and announced on the 8th of May, Wednesday, 4 pm, SG time.