February is coming to an end and we are also quickly approaching the upgrade of the COSS token.

COSS token upgrade to ERC223:
3 Primary improvements with ERC223

1. Eliminates the problem of lost tokens which happens during the transfer of ERC20 tokens to a contract (when people mistakenly use the instructions for sending tokens to a wallet). ERC223 allows users to send their tokens to either wallet or contract with the same function transfer, thereby eliminating the potential for confusion and lost tokens.

2. Allows developers to handle incoming token transactions, and reject non-supported tokens (not possible with ERC20)

3. Energy savings. The transfer of ERC223 tokens to a contract is a one step process rather than a 2-step process (for ERC20), and this means 2 times less gas and no extra blockchain bloating

The COSS token will go through an upgrade to become an ERC223 token on Sunday 4th of March. During this change/fork, withdrawals and deposits of COSS token will be disabled for 24 hours prior to the swap and 24 hours after the swap. The COSS token will temporarily be removed from EtherDelta during this process, and also HitBTC will be informed to halt deposits and withdrawals while this is ongoing. It will not impact ongoing trading.

PLEASE NOTE the following:
Withdrawals and deposits of COSS token will be disabled from
03.03.2018 12:00:00 UTC till 05.03.2018 12:00:00 UTC

This also goes for HitBTC withdrawals and deposits. Trading on EtherDelta will be disabled during this period.

Also note the change in time for snapshot and FSA. This will from now on be performed on Mondays at 4PM Singapore time. The snapshots will be performed while the exchange is live, so no need for maintenance downtime anymore related to the FSA. First snapshot after the upgrade will therefore be on Monday March 5th at 4pm Singapore time.

New UI Upgrades

We aim to roll out new UI for the front page, account page, and more next week. Not all of the content is ready yet, but the design and the functionalities are. We know we aimed for end of February, but timelines are not always easy to keep in the IT industry as unknown factors almost always occur.
We will also start posting bullet points of what has been done during a week and what is planned for the coming week so it becomes easier for our users to track the progress of COSS.IO
We know that our communication hasn't been the best on this and we will strive to improve in that area.

First ICO to go live on COSS.IO that also accepts COSS token. This is a new milestone as it increases the use-case for the COSS token.

Also note that the ongoing ICO for PureGold will be extended. The 5% bonus will remain until further notice, and we are awaiting some exiting news from them soon. See https://profile.coss.io/ico-listing/pgt (more details to come)

We also have multiple listings and trading promos coming up and they will be announced accordingly. We are negotiating several interesting strategic partnerships that could potentially impact the COSS ecosystem in a very positive way. Some token issuers are also discussing exclusive time limited trading periods.

We will announce promos as they continue to go live, but one of the upcoming ones that also conducted part of their ICO on COSS.IO is LALA World. Trading and promo to commence on March 13th.

IT and Development

Mong is busy with a lot of interviews in search for the right people to add to the Singapore Dev team and she feels confident that we should soon be able to increase the in-house IT Team.

Next week I will be in Seoul, South Korea for the d10e Blockchain conference (d10e.biz). On Monday the 5th I will participate in a panel with multiple concurrency exchange owners, and on Tuesday the 6th I will host a panel with participants that have a vast interest in COSS.IO either through trading, ICOs, or trading promos. Looking forward to some cool days in Seoul with a lot of blockchain and crypto enthusiasts.

Note for those that like to plan ahead:
This summer's COSS party to be held in Singapore on June 9th will be arranged at the famous and iconic Fullerton Hotel : https://www.fullertonhotels.com/the-fullerton-hotel (dinner and social 7pm — 10 pm) and later at the The highest alfresco bar in the world and one of Singapore’s best rooftop bars with a spectacular 360-degree view of the city, stunning sunsets, nightlife vibes, top local bands, renowned DJs and great cocktails. See here: https://www.1-altitude.com/ (more info to come later)
Hoping to see as many of you as possible in June.

Also note that we are going into the last 3 days of multiple trading promos on COSS.IO
Check the website for start/end dates: https://profile.coss.io/trading-promo

That was the brief update we had for you today. We will be back with more news and update next week.

Best regards us here at COSS HQ Singapore.