A month after Bitconnect was down, another top lending platform seems to follow the footprints of Bitconnect. I just received a bad news today about Davor coin that they will give-up their lending platform and released all the active loans of the community. Davor significantly crashed down from almost 200 dollars to less than a dollar and this was so frustrating for those who owned Davor coin. Surely, most of our fellow cryptonians will distant themselves from lending platforms due to what happened to these two popular lending platforms - the Bitconnect and now Davor coin.
Below is the message from Davor Team to their community of investors:
We have a very important announcement to make, probably the most important one since our beginning. We have carefully analysed the current situation of the Davor project, of lending programs, of the cryptocurrency market and of legal issues regarding lending platforms and cryptocurrencies in general. There is no doubt for us that the DAV value has been negatively affected by our lending program because the crypto-environment has dramatically changed recently. We did everything possible to protect our platform and our amazing community. However, DAV price still went from $180 to $0.5 in 20 days. As a result, we have decided to change our strategy and to end our lending program that has become the only reason why DavorCoin is decreasing in value. Most users are no longer interested in investing in lending platforms, moreover, they are increasingly concerned about legal issues. And there is one thing we don't want which is to offer a different service to users depending on which countries/states they are coming from. We will release today all lending packages we have and every user will be credited in his account the number of DAV he placed in his/her lending package plus a 10% bonus. The staking pool will work as before. There will be certainly winners and losers in this project, as in many high-risk investments. This is also true for the whole cryptocurrency market. Our main objective now is to bring DAV price where it should be. We are going to put our efforts in transforming DAV into a strong cryptocurrency.
We have many steps ahead that could boost the DAV value.
- High performance crypto-to-crypto trading platform. DAV will be used as trading fee.
- Instant exchange to altcoins: you can exchange instantly DAV to many popular altcoins.
- Partnership with crypto debit card issuers so you can use DAV to make payments.
- Total improvement on the DAV blockchain: to support SegWit, Lightning Network and Atomic Swap, which means DAV could be accepted at thousands of Bitcoin-accepted merchants.
- Crypto shop: You can use DAV to purchase for popular gift cards (eBay, Amazon, iTunes, Steam...)
These are only part of the list: we'll soon release the full list of what we plan to do for the rest of 2018. We know this is a big turning point of Davor, but the crypto-world is changing very fast. Therefore it is important to adapt ourselves to remain competitive. We're confident that this is the right way and we're just at the beginning of a bright future. We hope to receive your full support and altogether we can bring Davor to the next level.
Thank you.
The Davor.io Team
By the way, if you have BCC coin that was stored in the Coinexchange.io, You need to withdraw it and transfer to other Wallet because on March 2018, BCC will be delisted in their site and after that said date, any coins that were not withdrawn will not be recovered anymore.