As Lendingblock approaches launch, we would like to give some insight to the community on what we have been working on the progress we are making.
As previously disclosed, we have been discussing potential equity investment. While this is a time-consuming and demanding process we are pleased with our recent progress, which has resulted in an offer from a group of investors we believe would add significant value to our business. Over the coming weeks we will be working closely together to advance and execute this deal. We are sure that the community will understand that the juicy details regarding this process are confidential and will remain so.
Tech progress update:
Development work has continued on a number of remaining parts of the platform, with a focus on external integrations to support compliance, security and liquidation requirements. We are also implementing a number of front-end enhancements to improve the user experience based on customer feedback and testing.
We have been working on testing the platform from a technology, functional and user interaction perspective over the last months. This has included testing of all the various loan states across our markets in the production environment with small amounts of main-net BTC and ETH. All of these tests have been conducted between testers within Lendingblock. These tests have been largely worked as expected following the testing process using on test-net, but we will continue to test every edge case that may occur as we scale up and enable live trading on the platform.
Once the above work is completed we will be conducting an extensive external hacking exercise to validate our belief in the security of the platform prior to launch.
Client demand update:
We recognise that ensuring there is sufficient liquidity on an exchange platform is a critically important, and have consequently been in discussions with a number of market makers to provide liquidity on the Lendingblock platform from day one. As such, we have commitments from three market makers covering Asia, Europe and US to provide bids and offers on the platform at launch, and will continue to build out our market maker partnerships in order to provide continuous coverage and liquidity on our lending platform at go-live.
As we look towards launch, we are in the process of building our tech and business operational capability, which involves increasing our Poland based development team, as well engaging a new team based in Uganda led by Chris Little, who Steve and Linda have worked with over the last 3 years. Tukusanyukidde, Chris and co!
Lastly, get well soon wishes to our COO Charlie, who broke his arm skiing last week.
Enjoy spring everyone!
The Lendingblock Team