DragonEx to introduce tokenised withdrawal quotas

Cryptocurrency exchange DragonEx has proposed a temporary solution to withdrawal issues for users. The mechanism will launch on November 10, говорится in a press release.

The platform will issue DragonEx Withdraw Quota (DWQ) tokens. Each of them will enable the withdrawal of one Tether (USDT).

Tokens can be obtained through trades on the exchange, loans, or deposits. When a user requests a withdrawal, the equivalent amount in DWQ will be deducted from their account. From November 15, DragonEx will open the DWQ/USDT trading pair.

The tokens will be issued daily and the quantity adjusted in line with the platform’s actual profit. The exchange will also continue seeking external funding to address the current issues.

Earlier, on October 22 DragonEx suspended deposits and withdrawals of cryptocurrencies due to a drain of funds caused by a “crisis of confidence”. Management did not rule out closing the platform if it cannot resume operations by November 2.

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