EliteX Exchange 0.5 Upgrade Goes Live!
We are excited to announce the launch the version 0.5 upgrade to the EliteX trading platform www.elitex.io, with zero transaction fees. The team has been working tirelessly to continue developing it towards full release, and today marks a significant milestone. We have made improvements to the trading engine, providing liquidity, and sped up deposits. We have also tweaked the layout of the platform, added API keys, improved security and the KYC process. There will be more upgrades and development to come.
EliteX Exchange Lists GNY
As part of our upgrade, we are also delighted to be listing GNY (www.gny.io), a fantastic project that brings machine learning to the blockchain. We will be offering GNY/BTC, GNY/ETH and GNY/USDT pairs on the exchange. Register with the exchange now, complete the KYC requirements, and between the 13th and 17th of May, you can share in an airdrop of 30000 GNY!
EliteX Behind The Scenes: interview with the CEO Leo Yu
To coincide with the version 0.5 upgrade launch of the EliteX trading platform, we thought it would to be a good time to provide our followers with a little insight into the team behind this project. To that end we managed corner the elusive CEO of EliteX, Leo Yu, and pressed him with a bunch of questions about his story, and how this whole EliteX exhange exchange gig got started…
EXM: “What did you see yourself doing when you were studying?”
LY: “Computer technology and the internet had just begun to spread in all walks of life. I especially liked to play with computers. The university computer room had too many rules, so after saving a lot of money I bought a 386 PC. I was the first at my school to have one. It was pure love. From then, my wish was to become a programmer.”
Originally Leo studied automotive engineering in Shanghai. It was around the now fabled time when owning a PC computer was an expensive novelty, but nevertheless rapidly escaping the confines of industry and offices into the home. For many of us inclined towards geeky pursuits and old enough to remember, it’s a time filled with nostalgia. It was at this time that Leo’s involvement with computer related tech and business began. Right after graduation Leo leaped into the internet start-up scene of the day, starting an online travel business. The idea then was pretty much what sites like Ctrip and Expedia are doing now. They attest to the fact that the idea clearly had legs:
“However, we lacked the resources and experience at that time, and after persisting for a year we ran out of money.”
EXM: “You have a background in audio-visual engineering, how did you get into that?”
Leo goes on to explain that with the online travel business bleeding funds, he began looking for other ways to make money. It was at this time a friend came with an idea, knowing that Leo had the computing skills he needed to make it a reality. Thus began Leo’s foray into audio-visual engineering. At a time when the tech bubble had burst and internet companies were dropping like flies, he closed his floundering business and threw himself into his new high demand gig:
LY: “We made digital displays and had many commercial clients, including record-breaking projects like the largest indoor digital advertising display in China, Asia’s highest outdoor display, as well as installations for the new Disneyland in Shanghai.”
EXM: “How did you first discover BTC and crypto?”
LY: “I had already heard of Bitcoin, but it was 2015 that I really looked into it. There were so many obstacles transacting funds with our clients abroad. I was complaining about this at a class reunion when a classmate from Tokyo, Big Fisher, suggested Bitcoin. He had already been involved in cryptocurrency investing and trading for some time. I started to take it seriously, and things really took off from there.”
EXM: “What were your initial impressions of Bitcoin and crypto?”
Leo waxes effusively about the potential he saw in Bitcoin and cryptocurrencies. Not only for facilitating borderless payments, but also a much more far-reaching potential to create significant economic and social change:
LY: “It solved my cross-border payment issues, but I saw blockchain projects like Lisk solved issues not only related to payment, but also how the decentralised model allows self-organisation without management oversight, or having to sacrifice some of our personal power to government. The birth of Bitcoin and blockchain makes it more possible to respect personal freedom. At the moment it is still only a possibility, but a beautiful one.”
As the founder of a cryptocurrency exchange start-up we were curious to know if Leo had any experience with trading:
EXM: Are you an active trader?
LY: “I have never been a trader in traditional financial market. I made a lot of investments in the crypto market. I can say that I’m very active in trading, but I’m not a trader. I’m not interested in short-term benefit, but the future of this project, for it to grow and create great value in the future. I take a fundamentals approach, find and support great projects and firmly hodl”
Thoughts then, naturally turned towards the future of blockchain and how Leo see things progressing, particularly given that he has a significant stake in it, both personally and professionally:
LY: “When I talk about this, I like to talk about two things. One is the development of Bitcoin. Despite opposition from traditional institutions, Bitcoin continues to grow in users. It really represents the crypto market as a whole. So, people who are interested should ask themselves, why is that? Those who take the time to understand will figure out the value of cryptocurrency and will have confidence in the future of the industry, no matter what the market may be doing right now. The other thing is that the growth of this industry mirrors the growth of the internet, and is equally as revolutionary.”
Finally we asked about how he sees EliteX placed within the future of blockchain:
LY: “The idea for EliteX is to become a complete financial services platform integrated into the Lisk eco-system, and provide services for all its participants, token projects, investors, individual developers, intermediaries, service agents etc. To provide liquitidy, facilitate fund raising, information, and generally being an impetus for cultivating all the aspect of the Lisk eco-system. Of course we also benefit a lot from this association with the Lisk network, and when we have both matured we’ll also serve the whole cryptocurrency world.”