WandX Suspended From Blog Site Medium—Goes Ahead With App Release

WandX, a decentralized exchange for ERC-20 tokens, has announced that it will be launching the beta version of its desktop app at the end of this week. The project describes itself as “Wall Street for Ethereum” and is meant to provide a wide variety of trading features and types of transactions:

“Through the various WandX APIs, you can potentially create and trade in an ETF (exchange traded fund), Derivatives, portfolios, or any financial instrument on cryptocurrencies.”

The main feature that distinguishes WandX from other decentralized exchanges is its “trading basket” feature, which allows multiple ERC-20 tokens to be traded in a single transaction. This is already common in the investment world, but the feature hasn’t reached crypto exchanges yet.

Support for NEO’s NEP5-based tokens is also in progress, and WandX has introduced an airdrop to promote this addition. Airdrop participants will have to install the new desktop app to receive tokens.

WandX is reminding users not to send tokens to the alpha app, as it is in the testnet stage. Testnets usually use tokens without real value, which is presumably the case here. WandX has not clarified whether this applies to the beta app as well.

Suggested Reading : Check out our picks for the best cryptocurrency exchanges.

A Victim of Medium?

WandX has taken on a bad look recently: its blog has been suspended by Medium, which has recently taken strict stances on crypto blogs. Although Medium’s new rules may cut out scams, the platform also has some very particular and nit-picking rules that have led to the ban of reputable projects.

In other words, WandX may be a legitimate project that was banned overzealously. However, it is unfortunate that WandX’s web page still links to a blog that went dead earlier this month. WandX seems to be led by a very small team that lacks proper PR, which would issue a statement and fix such an important problem immediately.

Instead, word-of-mouth publicity seems to have taken priority for WandX. Most of the project’s presence and following is found on social media and forums.  Posters on BitcoinTalk have complained about the lack of information on the project.

In any case, the project is still some distance from releasing a fully complete product, so the Medium ban may not hurt it too much. Time will tell whether it will continue to rely on word-of-mouth publicity.