Auxilium: picking up the pace
We've not been able to update you the past three weeks as we've been very busy plus not had anything to update you on yet. Sometimes the reality is that a project has no updates. But, we're trying to pick up the pace.
As many know by now we update the community about every relevant detail concerning the process and progress of Auxilium Global and Auxilium cryptocurrency. We're not about hyping the project or creating fake news in order to keep the community happy. This does not mean we don't make mistakes or sometimes miss a deadline, but it does mean we believe taking it slow and steady - step by step - is the way to go for Auxilium cryptocurrency; especially this moment in time.
All cryptocurrencies still experience the effects of the bear market. Many cryptocurrencies are still down 70–80% from the January 2018 all-time highs. Auxilium launched without an ICO, and no initial funds. We got listed on multiple exchanges after our first listing mid 2018, but never seen a bull market. For nearly all cryptocurrencies a bear market has a negative influence on the development and being able to check all requirements to maintain spots on major cryptocurrency exchanges, maintain the network, keep the communities satisfied, etc.. This more negative sentiment gives the bears the upper hand resulting in lower volume and price decline. Like all cryptocurrencies also Auxilium can't control the market.
Not being able to sell research and development AUX in a bull market scenario to fund and/or speed up research and development is unlucky. However, we never stopped researching and developing. Last Friday was a good example.
Last Friday we had a very constructive and positive meeting with our partner blockchain company Applicature. Seven people, including Auxilium Global co-founders and directors Anton Donker and James Litchfield, joined this international meeting. The goal of this meeting was to improve communication and structure to monitor the process in more detail. During this call we discussed the desktop wallet functionality, the network stability, the roadmap, whitepaper and many more aspects of Auxilium on which Applicature and Auxilium will work closer together. Mind you: like Auxilium Global Applicature has been working voluntarily (e.g. without salary from Auxilium research and development fund) to make Auxilium a success!
This week the main focus is to create clear pictures of some main goals to work towards in order to be fully prepared for a listing on a major cryptocurrency exchange. But don't get your hopes up just yet, don't expect this listing will be within weeks! We initially aimed to apply for listing end of Q1 2019. Applying is just a very small percentage of the listing process of course. Being dependent of the cryptocurrency exchange it can take up to 8–12 weeks for a major cryptocurrency exchange to assess an application. This year there are many more legal requirements than last year. This already has resulted in great amounts of cryptocurrencies being delisted from major exchanges, or even worse: becoming bankrupt and/or teams abandoning the projects.
Our official company incorporation was a good step towards checking another requirement. However the past few months many more legal documents are required for a listing on a top exchange. Not only meaning more time is needed to draft documents through attorneys, but also more funds are needed. Funds we simply don't have (yet). For those who are new: the Auxilium Global directors have paid everything from their own pockets from listings to legal documents and from incorporation costs to costs to maintain the network. We're not talking about some spare change here. They believe fully in Auxilium Global and Auxilium cryptocurrency.
The whitepaper is still under review which is a good thing from a technical and legal perspective.
The website, containing most information already, will be kept up-to-date as good as possible. Same for the social media platforms.
Once the whitepaper is out we already have an agreement with a large referral agency to hold an AUX Telegram referral campaign. We expect a fast increase of followers and holders of AUX cryptocurrency as a result of such campaign.
These efforts (e.g. strong whitepaper, good working website and larger community) will check some requirements that are important for a listing on a major exchange. Then of course we still have the network stability, wallet functionality and legal documents to account for. We'll probably have more clarity on these points after our next meetingthis Friday.
We try to keep you as informed as possible and hope to bring you as much good news as possible in updates to come.
Check out our website https://auxilium.global or roadmap https://auxilium.global/roadmap for more details on research and development. It's advised to follow at least one social media channel to be sure not to miss any update. Our official forum is also a great place to start checking for updates and/or gather information https://forum.auxilium.global/t/roadmap-and-updates-updated-daily/84/337