A paramount question when releasing novel crypto technology…
How important is contract security, even if it’s INCREDIBLY unlikely to be exploited?
The answer: Security is the MOST important feature.
Velox has been built and alpha tested for the past few weeks to the point where we could release the project today.
Through the insight of some highly experienced third parties, we discovered a potential risk factor, which exists in many smart contracts currently used in the space, that we cannot in good faith release for Velox. As such, we will be moving the public launch to February 14th.
The good news, we already have the solution, but it requires some changes to our smart contract structure, an update to the UI, concurrent updates to the database and server infrastructure, and of course cycling through the testing and review processes that we must remain committed to. For this reason we have adjusted our public release schedule to accommodate this update to the system.
Velox significantly changes the way that traders can institute conditional trading strategies or algorithmic strategies on decentralized exchanges. As Velox requires neither contract deposits nor the release of private keys, it will require multiple token approvals. These will allow Velox to interact with wallet holdings and use them when the conditions of their strategy are met.
To capitalize on this time, we will also be doubling the server capacity in additional, strategically located data centers globally. We are also developing infrastructure to accommodate exciting announcements that will be released shortly.
We are as eager, if not more, to release the platform to the public as you are to use it. A little more patience and we will create the secure, predictable, and disruptive solution you are all waiting for.
As always, thank you for your support.