There have been a lot of exciting changes and developments over the past few months, with Ethos and Voyager joining forces into a single organization. Today, we wanted to share some insights on our progress, as well as clarify our current market activity.
In coming together, leaders at both organizations saw the opportunity to bridge the traditional and digital worlds by allowing anyone to trade from fiat to crypto at better prices, with rapid liquidity. Our shared vision is to bring the two worlds closer together, and allow the globe’s money and value to flow easily between digital and traditional asset classes. We're working towards this vision every day and have already made significant strides.
Ethos has built both a world-class wallet and crypto clearing system, Bedrock, that’s unlike almost anything that exists in the market today. Bedrock’s crypto clearing system is being built from the ground up much like the early financial technology in the traditional clearing space and is being used as the foundation of an international value movement machine capable of facilitating billions or even trillions worth of crypto and fiat transactions seamlessly around the globe.
Voyager has built a sophisticated order management and best execution trading system that's connected to multiple exchanges and liquidity providers around the world. Voyager has also built a liquidity network capable of facilitating money movements, including trades, transfers, remittances and payments at scale.
We recognize, however, that large changes and new ventures often bring uncertainty, and we would like to bring additional clarity to the following questions that have been asked by the community:
- Specifics around ETHOS token integration and utility within the Voyager/Ethos ecosystem.
- Movements of tokens between exchanges and liquidity providers.
- The purpose of these movements and projected organizational requirements.
The ETHOS token is central to us building the bridge between the digital and traditional financial worlds. We just enjoyed hosting several of the Ethos team members, including Ethos CEO, Shingo Lavine, who spent a week with our team in New York, to continue and do extensive planning on the integration of our respective technologies and teams. Including expanding our services and incorporating the Ethos Token into the Voyager Ecosystem.
In previous releases, we’ve discussed Cashback Rewards (Read more), which we are currently building and working to implement. The team is actively developing this solution, including the underlying technology of Crypto/ERC20 deposits into Voyager App, commission fields and advanced routing capabilities, all of which are also multi-purpose for our overall solution.
Once deposits and withdrawals are complete, Voyager users will be able to self-custody their crypto assets using the Universal Wallet and will be able to trade and purchase crypto using their assets on the Voyager App, where eligible.
In addition to Cashback Rewards, the Ethos and Voyager teams are developing additional reward based utility that will be integrated throughout the ecosystem of products and services that Voyager plans to bring to market. This includes the token powering discounted fees and premium services and features in our ecosystem.
The company is already in deep conversations with large partners to bring these use cases to the forefront of the business, and for both retail and institutional partners. Right now we are laying the groundwork for a product and token that will work at scale. The ETHOS Token will also continue to be utilized in a variety of Bedrock and Voyager partners, both independently and jointly, adding value to the ecosystem.
Please note, a large part of Voyager’s business involves treasury management and execution of orders typically originating from a retail trading application. In so doing, the company actively moves tokens and other digital assets to and from exchanges as part of its treasury management but is still in the process of developing more sophisticated internal policies and controls. These activities are part of the “secret sauce” that makes Voyager capable of executing millions of dollars worth of orders, thus, is proprietary. Additionally, some token movements are due to market making activities to help increase the liquidity of the token.
Voyager is growing quickly and working diligently to increase our user-base and trade volume, while having received overwhelmingly positive feedback on our trading app. From a cash-flow perspective, Voyager is in a healthy position with token supported burn reaching diminished levels over the next 3-4 months. Please keep in mind that due to treasury management and external requirements the organization may be required to move tokens between exchanges, even if there is no liquidation activity.
With the combination of Voyager and Ethos, we are excited to bridge the traditional and digital worlds by building an ecosystem that goes beyond just a wallet or trading solution. We’re building a comprehensive crypto solution that spans trading, routing, storage, custody, payments, and remittances. Together, we are achieving more.
We hope that this brings additional clarity to many of the questions that have been asked, as we are excited and hard at work to build the future of financial services with all of you.