SIMDAQ Project Development Report / April 2018
Tags: Blockchain, Trading, Crypto, Cryptocurrency

Dear members of the SIMDAQ community! We’re glad to share with you the intermediate results of our work.

Two months have passed since the distribution of SMQ tokens of the platform for the development of crypto trading. And you know that these were intense months for the entire crypto trading industry. The crypto asset market capitalization has significantly decreased. However, against this background, all high-quality projects aimed at developing a new digital economy using the blockchain and crypto asset technology continued to work on their targets. And, our team did it as well.

We promptly adjusted the project budget and our plans for marketing activity taking into consideration the changes in quotations of the main cryptocurrencies in our portfolio. The SIMDAQ platform is being actively developed. The SIMDAQ team also took steps to support the market for new tokens during this time. Simultaneously, we are working to strengthen our marketing concept and to create our plan to attract new users and to develop our community.

Eugene Dubovoi, CEO and a founder:

“The key mission of SIMDAQ is to make beginning work with crypto assets easy and interesting for users of any level. Education and training will become an exciting game, and our service will be in demand around the world, as digitalization of assets and free exchange of them is the future of the economy.”

Development News

Currently, we have made significant progress in the technical implementation of the project. Our IT team has built a general modular architecture of the system, has chosen the technologies on which the SIMDAQ platform will be built, and has developed unified development principles.

The implementation of microservices is being made on the node.js programming platform by using ​​Go and Python programming languages. We plan to use the library React.js to create user interfaces in the frontend development.

Our software solution is hosted on the Kubernetes Cluster (Google Kubernetes Engine) and Google App Engine systems, allowing to efficiently implement future system scaling and to withstand heavy loads. We plan to revise and develop a main site of SIMDAQ and a trading emulation system based on the selected technologies. It is expected that the project will be fully refactored.

More than half of the SIMDAQ platform modules have been already designed to the level of full technical description; they are being currently developed and tested.

Here are some tasks in the advanced stage:

● Scenarios for user behavior has been developed.

● A training map for working with the platform has been developed.

● List of lessons to teach the user basic skills of trading have been formed and its content have been started.

● The possibility to earn SMQ tokens on the platform by means of executing tasks using a trading simulator for the development of trading skills has been made.

● The logging system has been completed.

● Development of billing (product catalog, balances and their movements) is at the final stage.

● A server part of the personal account (authorization and news) is at the final stage.

● The design of storage subsystem for exchange data, adapters for receiving payments in SMQ and Waves has been completed.

● A user quests support system is being designed now.

We also decided to implement the possibility of gamification and started to solve this task on the platform.

Our team has advanced in the implementation of the platform design and interface.

SIMDAQ dashboard prototype

Road Map News

We have completely designed the architecture of our platform for the development of crypto trading and we have advanced in the development of basic important modules. We don’t just launch parts of the project one after another in this period of our development. We create its foundation — a basis for all parts of SIMDAQ. This is the big work of our IT team.

After reviewing the platform development map, the team decided to partially combine the functionality of the first and second product releases into a single SIMDAQ launch product. In particular, this means adding a library of training cases to the launch package of first release.

The marketing team has already developed stylistic solutions for design elements and user interfaces of the platform. Usability is an important component of the project success. And, as we’ve mentioned above, we plan to revise the two parts taking into consideration the selected technologies — the main site and the trading emulation system.

Implementation of the updated technical map will take more time to prepare the release of the product. We hope our community can understand the delay and that the result will meet your expectations. Currently, we are searching for programmers to empower our team. The pace of our progress in this direction depends on how soon new members can be added to our team. The benchmark for launching the platform is summer 2018.

Team News

The key part of the SIMDAQ team is actively working on the project. In February-March, new participants strengthened our team; here are some of them:

● Project Manager

● IT Director

● Head of External Communications and IR

● UI / UX Designer

● Two backend developers

To work on the project, we need IT professionals, now we are searching for good frontend and backend developers and a number of other specialists. SIMDAQ partners searched for the necessary experts since autumn 2017 to find people with great experience and a healthy desire to transform digital services based on the latest technologies. We search for developers, we test them , and then we choose the best .

Tokens Market News

The period before the first release of the platform, when the token turnover in the SIMDAQ crypto trading development system will begin, is a priori a stage of low activity in the SMQ market. Project participants hold tokens. A small “storm” in the cryptocurrency market also doesn’t promote active trade. The correct thing to do in this situation is not to swim against the current.

We’ve taken some steps to develop the market for new tokens. And we’re ready to release the tokens on the Tidex exchange when the general market situation will show signs of stabilization. At the moment, we are negotiating with other exchanges, which is the next stage of market development. We have achieved agreement with the Waves Platform to participate in LiquidWave, a new service of automatic market making — this is another important step. Waves experts are engaged in the final setup of the service — this is its first launch, and we are participating with interest in another innovative project of our partners.

As part of the platform, our utility tokens are provided to be widely used: people can get them as a reward for the successful completion of lessons and levels of learning and for providing their trading strategies for use; tokens can be paid for subscribing to services and much more.