Regarding the Listing Period of XCR

We are pleased to announce a change in the roadmap regarding the listing of XCR scheduled for November ～ December.

After the IEO on CROSS exchange, we planned to list it on RMT (https://rmt.market) after the global Supernode sale.

However, we decided that listing would not be appropriate after the drastic change in the market environment due to a drop in cryptocurrency prices. We felt it imperative to provide an improvement in liquidity through a transaction burn mechanism using ONECARD and RMT.

In consultation with the listing destinations (RMT & CROSS exchange), it was decided that the listing timing would be revised to the first quarter of 2020.

We have received many similar comments from XCR holders, and we would like to report we have reached this decision factoring in a healthy growth for the CROSS project.

Market changes associated with falling BTC prices

After the IEO on CROSS exchange, we expected the BTC price to rise towards year end and the market capitalization of the entire cryptocurrency market was expected to increase significantly.
However, contrary to our forecast, the BTC price has been sluggish, and the market size of the cryptocurrency market has not expanded as originally expected.
CROSS project management has determined that altcoin prices are often affected by BTC prices and its dominance, and the current market environment is not attractive for altcoins.

ONECARD Release Period Revised

The release of ONECARD, a cryptocurrency payment card, was supposed to be in December, but it has been decided that it will be delayed until January.
This is due to the delay in permitting changes for KYC (Identity Verification) contents for the Hong Kong Finance Bureau.
For details on ONECARD's release date, please refer to "ONECARD's release date" separately.
ONECARD transactions are very important in implementing the transaction burning mechanism for XCR.

Transaction burning is a mechanism that purchases and burns XCR from the market by using a part of the transaction fee generated every time a transaction (trade) occurs, contributing to its scarcity and overall value.

ONECARD has been open for recruitment since January 2020, and for the above reasons, we have decided that listing ONECARD should be in line with the timing of its release.
XCR is the foundation token of the CROSS project including CROSS exchange, and will provide technological innovation, expansion of use cases, increase liquidity, and potentially provide returns to investors.

We will make a separate announcement on CROSS.technology once the listing date is determined.

Thank you for your support.


Team CROSS