Arbitraging.co goes back to the roots
After releasing many updates from early December to late January that made the platform significantly worse than better, Arbitraging.co is turning back the wheel. The, conveniently named, biggest arbitraging platform in the cryptosphere with a market capitalization of roughly $ 15 million, has, and still is, rolling out major “downgrades” to make the platform more valuable than it has become under ever-increasingly changes to the function of the platform
Most notably, Arbitraging.co has tried to warm its community and potential new investors to a new internal exchange model allowing only in blocks of predetermined prices. While this change was aimed to decrease the the sales pressure from those selling their daily profits generated through the arbitraging bot, it effectively curtailed demand for the token making it impossible for current users to gain any value from their investments into the platforms native token ARB. Further trying to “fix” things the developers behind the platform closed down liquidity to external exchanges blocking users from freely trading their token, and losing trust in the platform to perform a legit business. The ensuing de-listing of ARB on CoinMarketCap.com, took away whatever was left of credibility marketing presence the project had left.
For a few days now things seem to change and progress is actually geared towards correcting past mistakes, increasing the platforms liquidity and gaining back users trust. In one of the first steps, Arbitraging.co CEO David Peterson, revealed his true identity in a, admittedly odd, youtube video in an effort discredit rumors that the platform is a scam and its instigators soon to exit scam. Just days later the development team fulfilled their promise, and a very much demanded feature, to pay out arbitraging profits in ETH directly. Just days ago the platform than changed its exchange module back to what it was most of 2018: a bid/ask driven exchange between token holders.
Arguably, these features help to regain trust in the intentions of the Arbitraging.co team and have led to many of the users to go back at recommending the platform as a legit investment platform. Further steps to upgrade the platform are underway, and the team has set hopes high for a listing on a TOP10 exchange with a complementing ARB/USDT pair within days. A successful listing like that would increase the utility of the ARB token by an order of magnitude and lend more credibility to long-term sustainability of the project.