Dear Partners and Associates
First of all we would like to state that we, the management of EltronX, can’t thank you enough for your confidence and support, especially during the challenging time we have been having of late due to unforeseen delays and technical inconveniences with the launch of the EltronX Crypto Exchange Platform. We certainly greatly appreciate your patience and understanding.
For the purpose of a recap, allow us to give you as our valued Partners and Associates an overview of EltronX as a company.
ElrtonX LLC is a company listed in Georgia, licensed, among other things, to engage in diverse cryptocurrency enterprise projects, including cryptocurrency exchanges, launching ICO’s, issuing tokens etc. It also has a Money License for handling transactions in fiat currency.
The founders of EltronX LLC chose to register the company in Georgia for the specific reason of legislations and regulations here being conducive to dealing in cryptocurrency, having extremely well-stuctured rules and regulations and a strong blockchain-friendly infrastructure as a result of the country being one of the first to seemingly understand the very rapidly emerging new industry of blockchain-related business. On top of this, an additional, but very important reason is that the corporate structure regulations of the country are very efficient and easy to work with.
EltronX LLC was able to secure needed licenses, working with legal advisors and law firms specialised on such tasks for the businesses we are engaged in. Achieving full compliance to be allowed to operate within this potentially very lucrative industry was a lengthy process and we are very proud to have completed it successfully.
EltronX managed to acquire the cryptocurrency platform Orientum from its founders/owners due to our confidence in its strong business model and in our opinion unique and sustainable approach to fintech. The acquisition was, for all involved parties, a win-win situation as we were able to provide a proper and advanced legal framework as a solid foundation to engage in blockchain and crypto business worldwide. The acquisition made provided an opportunity for EltronX to, on top of receiving native ORT Coins, share future profits of the businesses Orientum partnered with in Thailand.
EltronX had already before the acquisition of Orientum been engaged in setting up and launching our own cryptocurrency exchange, hiring a team of developers to create the software structure for this with a planned launch in October, 2018. This is one of our core businesses, as evidenced by the name of the exchange being the same as the name of our company. Acquiring Orientum created a leverage for our company to create a powerful fintech ecosystem which was already in line with our core objectives. This is amplified by the launch of the environmentally focused subsidiary crypto token Orientum Plus.
Selecting a team of developers can be a delicate process. Our approach was to seek out a team with considerable experience in developing cryptocurrency and crypto exchange projects. The team we settled on had years of experience in the market with over 40 cryptos under their belt, many of which are today publicly traded on a variety of exchanges around the world. Their track record developing crypto exchanges is also impressive and they offered a platform that can handle a large volume of simultaneous transactions. This seemed, at the time of our decision, to meet our needs perfectly.
A crucial element supporting our decision of using the selected team was for the purpose of having an exchange platform that could safely support airdrops of Orientum to exchange wallets as well as native wallets with confidence that coin holders would be sure to receive their airdrops in full. To elaborate a bit on this, we are aware that some exchanges have abused the airdrop model in the past, never delivering tokens to actual token holders and instead keeping airdropped tokens themselves. So we wanted to safeguard from this happening.
As you know all aspects have unfortunately not gone according to plan with the launch of our exchange. Naturally, we find this frustrating too, as delays are never financially rewarding in the short term. The software development team we have been working with has been unable to meet agreed upon deadlines due to various internal challenges that they have encountered relating to going live with our exchange.
During the test trading period of the exchange platform, which was done on temporary servers using normal simulation and security testing elements, the developers discovered some potential security issues. After careful consideration, involving analyzing pros and cons, we have decided, since our upmost priority for all of our users is security, that it was essential to be certain that all potential issues are being securely resolved despite the additional delays this would bring.
To add an extra layer of precaution, the whole exchange platform has been subjected to penetration testing and load balance testing by an independent external agency. We are certain that you as a customer on our platform will find as essential as we do, that we spare no effort on the security side.
At the same time, we are acutely aware that these delays and missed targets do affect all ORT Coin Holders in some way. You can be certain that we are not taking the delay lightly and we are doing all in our power to go live as soon as we are certain that we will be able to do so without risking the security of our valued customers.
As you might already have heard rumors around, there is some very exciting news leading up to the 18th of December, 2018. The fact behind the rumors is that you will soon be receiving very exciting information that will take the business of Orientum to a whole new level. The magnitude of these developments has made it even more important for us to be EXTRA careful with our exchange, as the user base of EltronX will easily very soon exceed any of our previous expectations. We are very excited to soon be able to provide you as a customer of our Exchange, but also as a coin/token holder, with what we believe will far surpass any previous Christmas present to date. So stay tuned and expect to be positively surprised within the next days and weeks leading up to the Christmas holidays!
We want to make it crystal clear, that regardless of challenges and delays, we are fiercely determined to make things work and provide a superior experience to all.
A very important point that we would like to mention, as it should make you feel comfortable with holding ORT coins for the future, is an important and probably unprecedented fact in blockchain and crypto startups. That is that it has come to our knowledge that the biggest investors in Orientum are the founders of Orientum themselves!
Soon to be released accounting reports will show that the founders personally invested the majority of all funds invested in the development of the project and therefore hold by far the biggest part of the free and tradable ORT Coin themselves. Let us emphasize again – they bought these coins. They did not allocate the coins for themselves. So along with the priority of best serving all who have put confidence in Orientum, there is also a personal and vested interest in making the Orientum project work from the perspective of the Founders.
As has been previously announced, there is a standard Corporate Pool of 25% of the Total Supply of Orientum allocated to a number of corporate backers of the project. These are LOCKED coins which can not be dumped on the market at once but only released in small batches in accordance with the amount of scheduled airdrops and never above the airdrop percentage limit itself. In addition to that, the founders BOUGHT more than 2 million Euros worth of unlocked ORT Coins. This is on top of all of the EXPENSES for creating the platform, promotion, management, administration, media materials, etc. which they personally invested in at considerable cost. This means, in our opinion, that the founders of Orientum stand to lose the most from problems and delays. This is another reason why we are 100% committed to our plan of not only bringing Orientum on the market, but also providing real value on blockchain. There is not a question of IF we will succeed but rather a question of WHEN we will reach our targets set by the management and team of our company.
We are passionately determined to stay true to our mission and vision of making Orientum a sustainable, stable and strong cryptocurrency that can stand the test of time and we will not waiver from this, no matter how many obstacles we face as a young business starting up in this challenging but exiting industry. These commitments endure, but most importantly, our partnerships with stable businesses endure – established businesses in real estate, hospitality and the dynamic new sector of industrial, eco-friendly waste management, converting waste plastic into fuel.
We deeply appreciate everyone’s confidence in us, your understanding, and patience. We WILL make this happen. This is our solid commitment that we will NEVER back down from.