On 2.2.2021 community was informed that tokens.net exchange is closing the doors. Founder Damian Merlak decided that further development and operations, with everything already done, wouldn’t bring enough revenue and that’s why he decided to close the exchange which was working perfectly and had no issue or security problems in the past few years. We don’t see any reason why he decided to do this but as the main founder and CEO of tokens.net he has all rights to do this.
We won’t comment ICO of tokens.net, we won’t comment migration of QUA to DTR, we won’t comment returns of funds to ICO backers and everything related to this. Because we never told anyone to buy any of these assets.
We always claimed that tokens.net is nice, trustworthy, and working exchange. And we were right. That’s why the majority of the volume was made there although that LanaCoin is traded on few other trusted and nice exchanges like Bololex, FreiExchage, Unnamed,… That is why we can comment on LANA trading, listing, support and everything related to this.
Lana trading experience was good. With MM bot LanaCoin had small volume and you could always buy a decent amount of LanaCoin not to raise or lower the price significantly. If you had any problems with withdrawals or something related to exchange support was very responsive. The response was sent mainly in few minutes worst case it was few hours. But have to say that there weren’t many incidents with LanaCoin that you need their help.
Another big issue is the listing of LanaCoin. LanaCoin was paid listing. We did this because we belived in existence and everything related with tokens security, development,…. And here we come to the point where we made a mistake. After little more than a year everything came to an end. Every UDST is very important for an open-source project like LanaCoin and there were many USDTs. With these funds we could develop some things for our chain not just pay market for one or two years and that’s it. But we always look at the bright side and every experience costs something and we learned that even if you believe in something you can be always disappointed in the end.
But nothing is lost for LanaCoin. In the past LanaCoin lost many markets because of some security-related issues, some SCAM exits and things like that. But it’s still here and it will be in the future.
You can continue trading LanaCoin on Bololex exchange, FreiExcnahe, Unnamed exchange and few others. That’s why tokens.net closure won’t affect the existence of LanaCoin but at the end we must admit that we lost the nice working, secure exchange and we can’t be happy about this.
We please you all to withdraw all your LanaCoins as soon as possible but the final date is 1st of April 2021. After that date withdrawals will be unavailable, and exchange will be closed down.
Untill 1st of April please move all your LanaCoins to other EXCHANGES, cryptowallet.si or PC wallet for staking.
Here you can read the official statement from the founder Damian Merlak.
Main Announcement – Company Closure
I founded Tokens.net exchange in August 2017 with a strong conviction in transparency, decentralization, and financial freedom. As a founder my main idea was to create a secure and transparent environment to trade various tokens that were being issued by numerous ICOs happening at that time. It has been more than 3 years since with Tokens.net recording zero security incidents, zero downtime, and was able to provide a solid and valuable technical product for its clients in which I, as the founder and owner of the company, take great pride.
Unfortunately, the ICO market deflated dramatically after 2017 with investors losing interest and moving back to investing in major cryptocurrencies. We changed our focus and started building our business model around those currencies, but the reality is, Tokens.net can not compete with major players in that field of the market.
I believe any additional investments into continuing the business would not bring returns and would most probably be lost. In light of these facts I decided to cease all Tokens.net operations and close the exchange.
Our respected clients will be able to withdraw their funds and swap their DTR in time before the finalization of the company closure. The process of closure begins with this announcement on February 2nd, 2021 and will finalise by April 1st, 2021. DTR will be available for USDT swap at a fixed rate of 0.01124 USDT from February 16th, 2021 until April 1st, 2021.
I want to thank all Tokens.net clients, ICO investors and the team for their trust in my founding idea and for years spent on the exchange.
Thank you for your support and all the best,
Tokens.net founder and owner