Nauticus Newsletter September 27
By: Nauticus Blockchain
Tags: Blockchain, Cryptocurrency, Newsletter

100,000 Nauticus Coins airdropped every week for 4 weeks! 400,000 NTS up for grabs!

Nauticus Exchange is giving away 100,000 Nauticus Coins each week for four weeks!

That’s right — for the first month after launch you can share in a total prize pool of 400,000 NTS simply by trading on the exchange.

Anyone who has passed KYC verification — new and existing users alike — and makes a trade that week will be eligible.

The winners will be selected at random to receive varying amounts of NTS. One week there might be 1000 winners who each receive 100 NTS; the next week there might be 100 winners receiving 1000 NTS each. And who knows: maybe one week, five lucky winners will take home 20,000 NTS each!

To protect existing backers, the NTS prizes will be locked for use on the platform for a period of six months. They can be used to pay trading fees, or simply sit in your account for that period. After which they can be freely traded for other tokens or fiat.

To enter each week’s airdrop, all you need to do is make a trade. It’s that simple.

Good luck!

Big Time Fintech Guru Joins Nauticus

Kin Wong, former Vice President of Nomura Securities and Senior Manager of Macquarie AI Trading has joined the Melbourne team full time. Wong, originally an advisor to the project, is applying his high level experience in algorithmic trading to test and refine the back end of the exchange platform. You can check out his LinkedIn profile here. (Note: ‘Big Time Fintech Guru is not his official title.)

NAUTICUS

What we’ve been working on

New designs for the ‘light’ exchange theme have been approved for further work (pictured above).

Stress testing the exchange platform to ensure it can handle considerable order volume.

Refined user interface for the KYC and migration processes and re-enabled them on the site.

Clearing the backlog of customer support tickets.

Ongoing negotiations with a major cross border currency provider on fiat transfer options.

Developed a new ‘control panel’ for the customer support team that enables them to quickly identify and resolve issues — including manual approval of KYC, checking user photos for errors and re-sending reset password emails. Further functionality will be progressively added.

Improvements made for withdrawal, deposit screens and functionality.

Development of a new routing system to fix connection based errors.

Large numbers of bugs have been fixed, including error messages and looping issues, to improve overall platform stability.

Further refinements made to the user interface of the mobile app to make it more intuitive.

Installation of telemetry throughout the site to gain a deeper understanding of the user experience.

Development of new analysis tools for exchange, user and KYC process data.

Writing and editing public API user documentation

SECURITY

Another week, another exchange hack.

Here’s how we keep your funds safe.

The recent $60 million hack of another Japanese cryptocurrency exchange, Zaif, has thrown the spotlight back on security. It’s the second hack in Japan this year after hackers stole a whopping $520 million of NEM from CoinCheck in January.

Here at Nauticus Exchange we aim to provide the best security possible — and that’s enhanced by the fact that every single user on the exchange is KYC verified to comply with AUSTRAC rules. That means hackers can’t operate under a cloak of anonymity as they can with unregulated exchanges.

We also incorporate state of the art biometric authentication, including fingerprint and facial recognition. Everything is protected by multiple layers of AES 256 bit encryption with sensitive data sent for ID verification check managed by an Information Security Management System meeting the ISO 27001 standard.

Between 90–95% of user funds are stored in airgapped, cold wallets. Contingency planning ensures that even during transfers only a minority of user funds can be accessed. The vast majority of transactions are performed solely on our internal systems and instantly confirmed.

Internally there are protocols for segregated human responsibility and we actively backup all transactions using a hyperledger. We also have rate limited calls to the backend systems to protect against DDOS attacks.

And that’s not even close to everything — we’ve got a few more tricks up our sleeves we don’t wish to reveal publicly. Rest assured, we’re doing everything we can to keep your funds safe.

We’ve made a video to help you pass KYC on the exchange

Nauticus Exchange’s head of communications, Andrew Fenton narrates this stunning saga of love and loss, heartache and triumph … Actually, it’s just a screen recording with some tips and tricks about how to pass KYC. But we hope you find it useful.

Migrate your account before December 1.

Please remember to migrate your ICO account to the exchange before December 1 when the old ICO dashboard will be closed. Users with only free or gifted coins face account closure if they do not migrate their accounts and pass KYC verification before the final deadline.

MIGRATE YOUR ACCOUNT NOW!