ASX to Postpone Blockchain Migration Due to COVID-19

Australian Stock Exchange has been developing mechanisms based on DLT that will replace the their CHESS clearing system since 2017
25 March 2020   1426

The Australian Stock Exchange (ASX) is once again migrating its systems to the blockchain, now because of the coronavirus pandemic. On March 25, ASX announced plans to change.

Since December 2017, ASX has been developing mechanisms based on distributed ledger technology that will replace the CHESS clearing system it uses. According to the latest data, and after the previous transfer, it was assumed that a full transition will be carried out in April 2021.

In light of recent events, ASX is replanning the implementation of the CHESS [Clearing House Electronic Subregister System] replacement system. We are conscious of the importance of providing a new schedule, and the need to get the valuable input of CHESS users.

 

Peter Hiom

ASX deputy CEO

The exchange admits that even before recent events, it received mixed reviews on its initiative. Some clients urged her to delay the integration of the blockchain. In accordance with the updated plan, the launch of a test environment for developers is scheduled for July 2020.

ASX remains fully committed to CHESS replacement. We continue to progress the project, including system development and testing, supporting back office software developers, and assisting users in their readiness activities. The investments we are making in the new system and in distributed ledger technology are for the long-term benefit of the financial services industry and the Australian economy. 

 

Peter Hiom

ASX deputy CEO 

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   1023

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.