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Coming into the new year, COBINHOOD Exchange continues to innovate and improve the platform according to the needs of the Cobbers’ community. As the exchange is now officially a month old, we are motivated to keep up with our users needs as you’ll find out in this latest development update.
Note: most updates listed in this post covers improvements from the start of the year until about mid-January.
Major improvements &Â growth
Automatic crypto deposits and withdrawal
Initially, we have stated that manual withdrawals will be implemented until the end of January to ensure top-notch security is met. And we’re glad to let everyone know that COBINHOOD Exchange is secure!
Starting now, both depositing and withdrawing are automated. Transactions should now be instant on COBINHOOD Exchange (users should, however, still account for the time needed by the network to confirm transactions, which is dependent on the prevailing network traffic status at any given moment).
On a similar note, the fees needed to take out assets (AKA when you withdraw) from COBINHOOD Exchange and send your assets to a different address are fees used by the network to confirm transactions. The gas fee on COBINHOOD Exchange is dynamic based on what the network needs to make the transaction go through faster. So, if the network is congested, the gas fee will be higher because the network needs higher “gas price” to process transactions.
Added more than 30 new trading pairs
Since launching, the following tokens have been recently added to COBINHOOD Exchange and are currently paired with both BTC or ETH:
• Augur (REP)• Basic Attention Token (BAT)• Civic (CVC)• Digix Global (DGD)• DragonChain (DRGN)• EOS (EOS)• Ethos (ETHOS)• Game (GTC)• GOLEM (GNT)• NAGA COIN (NGC)• Omisego (OMG)• Santiment (SAN)• SophiaTX (SPHTX)• Status Network (SNT)• TenXPay (PAY)• TRON (TRX)• 0x Protocol Token (ZRX)
More tokens are scheduled for listing, weekly.
New campaigns and promos launched weekly
We have introduced interesting ways to bring more volume to the platform with weekly campaigns that reward our users with COB or to reinforce the benefits brought about by depositing COB in COBINHOOD Exchange. Since launch, these are some of the campaigns launched so far.
- COBINHOOD Express Voting Volumes 2, and 3
- Purchase CMT with 1Â COB
- The 2018 COBÂ Lottery
All campaign landing pages are now found on the /campaign path.
UI improvements
Improved dashboard layout
We’ve redesigned the layout of the exchange to help traders make informed decisions when trading on the exchange.
While the chart remains the focal point of the dashboard, the order book, order form, balance, and a newly added panel, favorite trading pairs, are now all on the right side of the screen. This layout redesign is a lot more intuitive to the way people naturally read, which is from left to right. Moving the charts to the left, and order-related panels to the right allow users to view the general trading trend on the exchange first until users gather enough information needed to make a smart trading decision as they make their way to the trading form panel and perform a trade.
The open orders, tickers, balances, have also been optimized for better user experience.
Improved tool: Deposit and withdrawal tipsHints are now available
To help users deposit or withdraw seamlessly, we’ve added hints on the funds’ page to guide users. Hovering your cursor over the question mark icon will preview what users need to do to make successful transactions easily.
New feature: Favorite trading pairs
Create a list of your favorite trading pairs
As the exchange lists more coins, we’ve added a new feature that allows users to keep tabs on their favorite trading pairs. The favorite trading pairs panel can be seen in the upper-right section of the dashboard (above the order form), clicking the star icon will favorite or (unfavorite) pairs.
Resolved
Transactions stuck in “unconfirmed” status
There was a bug that caused deposits and withdrawals to still show “unconfirmed” on users’ accounts despite status changes. This has now been resolved, and there shouldn’t be a lag between the status’ seen by users on their dashboard and the actual status of transactions.
Token expiration issues
The error message seen by users that informs them whenever their token has expired has also been improved for clarity, we now say “token expired” instead of the previous, more vague term “token invalid.”
The modal for validating the token before resetting the password should also appear when such event is triggered.
Price displayed on the ticker
Whenever the price displayed exceeds certain decimal values, the numbers used to overlap with the ticker. This is no longer the case and has been fixed.
In development
Coming soon:
- Improvement on fund limits and fund limits calculationsAt the current version, the daily and monthly withdraw limit is calculated dynamically by the current USD price in COBINHOOD Exchange when you place a withdrawal (for example, if your monthly limit is US$1000 and you withdraw 100 COB (and per token is $0.1), your remaining monthly quota is 990 because the equivalent USD amount of the withdrawal is $10. If you withdraw again the next day and the price changed to and $0.5, your quota will be 950 (1000–100*0.5). The quota calculation will be changed before the end of January to make the funds limit calculation to be based on CoinMarketCap’s BTC price. Expect adjustments to the current fund levels’ limits soon (higher limits).
Coming in February:
As always, we work to continually improve the platform’s performance to scale up our order-matching engine. We are also working to introduce the following features and improvements to the order book.
- New feature: Stop orderSimply put, a stop order allows users to trigger a buy or sell market order by specifying it according to their preference. Stop order is one of the most requested features on COBINHOOD Exchange and will be introduced in February. The actual date is to be announced.
- Allow orders modificationWe are working to allow users to make changes and modify the amount and prices on placed orders without having to cancel orders. This shall be introduced in February.
More language supportApart from the current languages available, the platform will be localized in these languages:
• French (France)• German• Korean• Portuguese (Brazil)• Russian• Spanish (Spain)• Vietnamese
More languages will be supported after this initial batch is rolled out.
Users in India: SMS issuesBecause of specific telecommunication rules in India, users from the region experience issues with SMS notifications. In February, we will be using the service provider Nexmo to mitigate this problem.
Users in ChinaAliyun NoCaptcha and Ali reCaptcha are to be introduced for users in China. This means that users in the region will no longer need to use VPN to access the platform.
Improvements to the apps
The Android and iOS apps are still both in early beta stages with more features coming soon. Expect these improvements to come to your iOS or Android COBINHOOD app.
iOS and Android features coming soon:
• Ability to withdraw and deposit funds• Network fee calculation• Adding a withdrawal address (without 2FA)• Save the QR code image• New function: Blocking invalid amount input (amounts that are too large, too small, or NaN),• History including transaction status• Favorite trading pairs
Android app:
[APK] Two build configurations shall be released soon, one global APK, and an APK for China.
iOS app:
[Order book] An issue that displays the order book and depth chart to be disproportionate to each other is being fixed.
For official announcements, tutorials, and guides, follow us here on Medium, and hang out with the team on Telegram to get tips from your fellow traders worldwide. You can also check out our Help Center for tips on how to use COBINHOOD Exchange. And never hesitate to contact us for questions and technical assistance.
Dev update #6 — mid-January 2018 was originally published in COBINHOOD on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.