The Path of Komodo Wallet to Compliance and Stability
Thank You for Your Support
We appreciate your patience during the temporary unavailability of the Komodo web application (January 3 to January 6, 2025) caused by essential maintenance.
The platform is now back online, although the DEX and bridge functionalities remain temporarily unavailable.
What Happened and Why It Matters
Changes in the global regulatory environment, particularly the adoption of the EU MiCA regulations and the Travel Rule (TFR) for cryptocurrencies, required us to urgently implement necessary updates. This led to the temporary suspension of the web application, for which we regretfully could not provide prior notice. We sincerely thank you for your understanding.
To ensure long-term stability, we are gradually integrating anti-money laundering (AML) measures into the Komodo Wallet and Komodo DeFi Framework (KDF). While these steps diverge from our core philosophy of radical decentralization, we believe they are crucial for the future success of the platform.
Your Funds Are Safe
Komodo Wallet remains a non-custodial solution, meaning that control over private keys and seed phrases stays entirely with you. To access your funds, simply open the wallet as usual. If you encounter any issues, our support team is ready to assist.
Note: Official Komodo team members on Discord have green names. None of them will ever ask for your private keys or seed phrases.
What Does This Mean for You?
- Security of Your Funds: Core wallet operations remain decentralized and non-custodial.
- Enhanced Liquidity: Regulatory compliance will attract professional liquidity providers (LPs), increasing liquidity on the DEX.
- Upcoming Updates:
- The temporary removal of DEX and bridge functionalities has already been implemented.
- A decentralized AML solution will be introduced soon.
Looking Ahead
We aim to build a DeFi platform that meets global standards while preserving the principles of decentralization. User education and community support remain key priorities during this transition.
Your feedback is invaluable to our development. We will actively keep you informed about all upcoming milestones through social media and official channels.
Message to Users
If you have any questions or need support, please reach out to us through official channels:
- Website: Komodo Platform
- Discord: Official Channel
- Social Media: Twitter
We are making every effort to ensure seamless platform operations while adapting to new regulatory requirements, preserving our core principles of decentralization and innovation.
Thank you for your support and trust!
Sincerely,
The Komodo Team.
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