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 is listed on Mercatox exchanges and remains the key to accessing the Liquidity Pool. The utility of TIOx has always been tied directly to the Liquidity Pool and will continue in that function.
The LP is and will remain alive and well at its new home on TIOmarkets. Distributions will continue to occur. With these changes we expect the distributions to increase significantly over time.
For anyone who has not withdrawn their crypto assets before the trade.io exchange hibernation date please email [email protected] You will need to provide your KYC documents (ID and Proof of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.