No, trade.io is not going out of business. The crypto exchange will be archived securely and pending the financial opportunity will be reopened at a future date.
This is purely a profit and loss decision. Despite the success of our re-launch, it has become clear to us that in current market conditions the exchange is a long way from turning a profit. Profits (and losses) directly affect the LP payouts. By removing the costs of the exchange we will increase the profitability of the trade.io group of companies and as such increase the LP payouts over time which should drive the price of TIOx.
The TIOx token will be listed on Idex and Mercatox exchanges and remains the key to accessing the TIOprime Pool. The utility of TIOx has always been tied directly to the TIOprime Pool and will continue in that function.
The LP has evolved into to TIOprime Pool; a TIOx lending facility which can be accessed at its new home on the TIOmarkets domain. Distributions continue to occur on all days that the FX markets are open and active.
TAll LP participants and their TIOx have been automatically transferred over to the TIOprime Pool and no further action is required from the participants.
For anyone who has not withdrawn their crypto assets before the trade.io exchange hibernation date please email [email protected] You will need to provide your KYC documents (ID and Proof of Residence) along with your registered email address, and the amount of assets you wish to withdrawal. Please note that this process could take several days for verification.