• Market Cap
    $402.172B 1.15%
  • POW Market Cap
    $309.671B 0.32%
  • POS Market Cap
    $20.113B 0.81%
  • Masternodes Market Cap
    $1.245B -0.82%

Apollon Business Closure Announcement

By Rafał - 2019-02-20

Bear market is a real test for crypto businesses. The best (or the most popular) are going to stay, the rest will lose most of its value or just leave crypto space. Apollon is (or were) one of the best masternode hosting services because of its NodeBuilder app and revolutionary RYON service. 

Unfortunately Apollon CEO, decide to close his company! The main reason that he gave is the project funding. 

We needed around 2,000 RYON nodes in order to pay for the base businesses expenses, and unfortunately, we haven’t reached that number. We’re currently at 1,169 nodes online, which is a slight decline from last month, and this doesn’t cover our base expenses for the business. - Apollon CEO

Apollon company will be shut down and RYON service is going to end on February 22nd.

Of course, market react to that news very fast and according to "buy the rumor, sell the news" people sold their XAP and dump the price of it by 50%.

New beginning

Apollon is no longer with us but the coin and service are going to stay! The rest of the team: Markus, Adrian, Minh and Lukas with two community members are going to stay with XAP.

There will be a new Austrian company. The RYON will be spun up under new infrastructure and users will be able to migrate over without a loss of service. 

The good news is that in the meantime your nodes will continue to run when the front end RYON service is closed down.

If you are running nodes on the NodeBuilder please do not kill it in panic. The rest of the team decides to update another video which you can find below. What is interesting in it? The most interesting is the... video description. Why? As we can read this is the real update to XAP and they are "getting rid of unnecessary ballast". Maybe there is something more behind Chad's decision...

 

If you have any questions about current XAP situation feel free to contact us