Aphelion, a cryptocurrency wallet and decentralized exchange operating on the NEO blockchain, will have its APH token listed on the BitMart centralized exchange. Meanwhile, CEO Ian Holtz has claimed that the Aphelion project has secured “private funding.”

The news follows Holtz’s announcement on June 1st, 2019 that Aphelion had “run out of funds” and had halted development while the project searched for additional sources of funding. The APH token was subsequently delisted from the KuCoin centralized exchange on June 8th, 2019, when according to KuCoin, “some negative information regarding APH project team came to our attention.”

BitMart APH Listing

The BitMart Exchange plans to offer an APH/BTC trading pair. Trading will begin on June 27th, 2019 at 8:00 AM EDT.

In the listing announcement, BitMart stated: “We are making this decision according to BitMart Listing Criteria…We have been strictly enforcing our listing criteria to make sure that the projects we introduce to all BitMart users are secure, compliant, and innovative. We are persuaded that APH meets these criteria of BitMart.”

Private Funding

Holtz claimed to have secured “private funding” for his project following “an incredible week” after the project publicly paused development. The total funding or amount of runway afforded by the fresh investment was not disclosed. However, according to Holtz, the team “found new developers, tapped our old developers” and is “concurrently developing several milestones,” including a Bitcoin wallet, support for Ethereum’s ERC-20 tokens, and support for Bitcoin Improvement Proposal 39, which is a 12-word backup system for its wallet software. Holtz also stated that atomic swaps would be added to the Aphelion decentralized exchange later in 2019.

Embattled History

The recent turnaround is not the first time the Aphelion project has closely trailed its negative developments with an announcement of positive news.

On November 21st, 2018, Aphelion suspended all MainNet trading on its exchange. The move followed the U.S. Securities and Exchange Commission’s action against the EtherDelta decentralized exchange, causing the project to pursue a path towards compliance. Aphelion smart contract balances were refunded on November 23rd, 2018. A December 2018 partnership with IdentityMind Global and the institution of KYC (Know Your Customer) procedures allowed the exchange to reopen for non-United States customers on December 31st, 2018.

Additionally, Aphelion temporarily disabled exchange withdrawals on February 1st, 2019, after a vulnerability was uncovered in its trading contract. The bug, which involved NEO and GAS assets held on Aphelion, was verified and fixed, allowing the exchange to reopen in the middle of February 2019.

BitMart’s APH listing announcement can be viewed in full at the following link:
https://bitmartexchange.zendesk.com/hc/en-us/articles/360025340633

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