It has come to our attention that Upbit, one of the exchanges where ADX is available, has recently published an investment warning about 25 tokens, ours included.
We have not received any communication from the Upbit team regarding this, and we have reached out to them to rectify the situation. We believe that we have been included in the list by accident and we’re positive that we will be able to sort this out soon.
Before we hear from Upbit, we would like to address the reasons listed by them. The reasons they have provided are as follows (without any additional context or details provided by the exchange):
- Team competency and business
- Public disclosure of information and communication
- Technical competence
- Global liquidity for investor protection
This is why we believe we have been included in the list by mistake:
- Team competency and business: Our team is extremely qualified. The core team remains unchanged since the launch of our company. We have been hiring new team members who have all been carefully vetted to make sure that we only recruit the brightest, most qualified and knowledgeable professionals.
We have not changed the AdEx business model either. We announced our plans for launching AdEx Wallet and followed up with a message from our founders to make it crystal clear that we are not changing direction but we are expanding.
- Public disclosure of information and communication: We have always been clear, open and transparent in our communications. We address any question we get, we maintain a Help center with FAQs, announcements, etc., we publish news and transparency reports on our blog and on our social media profiles.
We have also been submitting information about upgrades, news and developments to the Upbit team so they can publish them on their website.
- Technical competence: The AdEx team is one of the most technically competent teams in crypto, coming from a background of building a product with 16 million users, developing Ethereum smart contracts since 2016, and having created the first Ethereum payment channel network with real-world usage. We have been hiring talented people so our technical competence is increasing.
- Global liquidity for investor protection: There is more than sufficient liquidity for ADX - over $10,000,000 volume for the past 24 hours alone, as you can see on our Coingecko profile.