Community Update: Addressing Recent Events & Upcoming Developments
Hello Pairs Community,
We wanted to provide a detailed update covering recent events, ongoing issues, and our team's progress over the last week.
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Telegram & X Bot Attack:
As many of you are aware, last week our community faced a significant bot attack driven by bounty hunters from a growth campaign. This resulted in a large influx of fake Telegram accounts, overwhelming our community channels, and ultimately leading to the suspension of our primary X (formerly Twitter) account.
We have been in active contact with X's support team and are working to recover our original account with over 40,000 followers. While our main priority remains the recovery of our original account, we are also preparing for the unfortunate scenario that a new account may need to be launched. Rest assured, we will keep the community updated every step of the way.
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Addressing Withdrawal Concerns:
We recognize there have been ongoing discussions in the community regarding withdrawal processing times. As previously noted, we canβt publicly comment on specific compliance-related cases. Pairs follows strict regulatory guidelines comparable to major global exchanges, and compliance reviews are currently managed in cooperation with Fideum, as they still hold relevant licensing.
Delays can be caused by various standard checks, such as:
β’ KYC and AML verifications
β’ Sanction screenings
β’ Flags raised for suspicious activities
β’ Manual reviews by compliance teams
Withdrawals continue to be processed regularly, and this situation affects only a small percentage of users. Our teams are actively working alongside our licensing partner to ensure all pending cases are resolved swiftly.
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Starting from Scratch: US Licensing
Weβre excited to announce that weβve officially begun the process of obtaining two critical regulatory licenses, enabling Pairs to operate directly in the United States. This marks a significant milestone, as these will be the first licenses held directly under the Pairs name, independent of any third-party licensing arrangements. Achieving this milestone is a major step forward, empowering us to deliver our complete range of services to US users directly through the Pairs platform, without reliance on affiliated entities. Weβll keep you closely updated as we make further progress on this important regulatory journey.
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XP and Points Distribution System Update:
During our last AMA session, we promised a comprehensive breakdown of our new XP and points distribution systemβone of the core elements of the Pairs ecosystem. This detailed explanation will outline exactly how the XP system works, how it supports your position in profit sharing, and how the system gamifies trading volume through both individual and team-based participation.
The XP system is designed to significantly open up opportunities for partnership activations, and allow us to focus on driving new user acquisition. Given its central role in our product strategy, the team has dedicated substantial effort toward its implementation.
We are pleased to announce that the full details will be shared this Wednesday through our whitepaper documentation. We strongly encourage everyone to review the documentation to fully understand how to maximize their benefits within the XP ecosystem.
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DEX Platform Updates & Improvements:
We've actively listened to community feedback regarding the current look, feel, and user experience of the Pairs DEX Beta. Taking your suggestions into consideration, our product and development teams have already begun implementing key upgrades and improvements.
We anticipate releasing version 2 (V2) of the Pairs DEX Beta within the coming weeks. These updates are designed to significantly enhance usability, navigation, and overall experience, aligning closely with community expectations and industry standards.
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Final Remarks:
