DEX users should sell or redeem their Stronghold-issued assets before April 25.
Anchors accept funds and issue credits, but after Thursday, April 11, 2019, Stronghold will only accept deposits for business with addresses on ’s who have also completed Know Your Customer (KYC) account verification. After that date, we will stop transferring funds into the network .
This change only impacts individual users of ’s Decentralized Exchange ( DEX). To maintain access to their funds, these should either sell or redeem their Stronghold-issued assets over the next two weeks.
Customers who are DEX users will have until Thursday, April 25, 2019 to withdraw their funds. After that, Stronghold will freeze their on the DEX using .
On May 6, we’ll take a snapshot of affected ’ balances and will transfer an equivalent amount of XLM to their wallets. After this action, Stronghold will no longer recognize the for redemption and they will be unusable on the DEX.
To redeem Stronghold-issued assets from a -enabled , please deposit the assets to your Stronghold account. Remember, you must ialong with your address — failure to include a Memo ID can result in a loss of assets.
We apologize for any inconvenience and are working hard to ensure a seamless phase-out of this product. However, after a year in production, we have decided that providing tethered access for retail traders does not align with our core mission of making global banking more inclusive. Creating a proprietary order book for institutional clients and users of our platform APIs, however, allows Stronghold to deliver more value to while providing a higher level of service.
Stronghold will continue to be a anchor and . In addition, we will be introducing more platform options for our clients, with additional details to be released in the coming weeks.
Tammy Camp, CEO
Sean Bennett, CTO
Published at Wed, 10 Apr 2019 20:08:09 +0000