We are pleased to announce the second ever LocalCoinSwap dividend distribution. The platform has extensive upgrades and feature additions since the last dividend period and the development is not slowing anytime soon.
As expected, we are seeing the majority of this quarter’s trading volume on a top few cryptocurrencies. Mainly BTC and ETH as these are the currencies that currently have the biggest worldwide P2P markets. From Q1 to Q2, the trading volume of these 2 currencies have increased at an average of 1,385%. If we can maintain a similar growth rate in these currencies alone in the upcoming quarters, the project will be in a great place for the future. We are also noticing a slight increase in stablecoin volume. This is not currently a large market, however, stable coins provide an excellent vehicle for remittances and wealth preservation so we expect to see these volumes increase further in the coming months.
Although the platform has not yet hit a break-even point in terms of revenue and costs, 100% of this quarter’s revenue will be distributed as dividends to further exemplify LocalCoinSwap’s dedication to our community.
Please see the dividend financial announcement below:
Here is a PDF version of the 2019 Q2 announcement.