Dubious practices by allegedly decentralized exchange
PURA is a cryptocurrency for the common good
Open Ledger Exchange has officially delisted PURA cryptocurrency. The exchange is claiming as reason that trading volumes after two months of listing had not reached a benchmark of 3000 transactions per month or, alternatively, trading volumes of US$ 1.000.000 (one million). This action is a highly questionable measure by Open Ledger, an exchange claiming to be a “decentralized cryptocurrency exchange” and “an exchange for traders of all levels”.
Initially, the exchange had failed to communicate the integration of PURA on Open Ledger to Coinmarketcap. Thus, Coinmarketcap did not show the listing on its website. Correspondingly, the majority of the cryptocurrency community unaware of the fact that PURA had even been listed on Open Ledger. Coinmarketcap is the number one resource of information for all cryptocurrency market participants. Overall trade volumes of PURA on average are currently far higher than the hallmark indicated by Open Ledger. Therefore, it is is clearly the responsibility of the exchange that projected trading volumes were not achieved and PURA has been delisted.
Delisted – no support for backroom dealings
Moreover, after the exchange’s announcement that PURA was about to be delisted, the PURA Team was approached by Open Ledger with a dubious “service” offer. The exchange proposed market making by a trade robot in exchange for the amount of 0.25 Bitcoin per month. Two thirds of the amount would have been payable in Bitcoin and one third in PURA. In return, a trading volume of one million US-Dollar per month “would be reached”. The obvious response was to end the cooperation between PURA an Open Ledger effective immediately.
Regrettably, such shady undertakings are still a common occurrence in the markets. PURA is the world’s first social and environmentally conscious cryptocurrency. The consensus is that PURA does not support such business practices. Nor does the community wish involvement in such backroom dealings. PURA is a coin on the road towards mass adoption, and not a speculation project. Consequently, each participant in cryptocurrency markets has to decide whether to back questionable ventures. For more information on the long-term objectives of PURA, please read our PURA Whitepaper.