Quadriga Initiative

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Our Primary Exchange Partner

The primary exchange is assisting with loss validation and token distribution. Given the history with Quadriga, most affected users (including every member of our team) are very concerned about anyone losing their funds again. This is the primary reason we've selected to work with the TxQuick team.

TxQuick is being developed by Ethan Burnside, who has demonstrated his integrity in 2012-2013 when he ran BTC Trading Corp. When it was shut down, he spent significant personal funds to keep it running so everyone could get their money out - likely the only time in history that an exchange shut down and everyone got their deposits out. You can learn more about him from his Reddit post here.

We've had extensive discussions on Telegram about security. Ethan is open, transparent, and extremely knowledgeable. We've discussed a three-layer strategy of hot wallets for quick withdrawals, multi-sig air-gap warm wallets for larger daily withdrawals, and true multi-sig cold wallets spread among multiple bank vaults for longer-term storage. His previous exchange was never successfully hacked. If you have any questions, Ethan is happy to answer them in our Telegram group! We welcome and consider all input and ideas!

Ethan is strongly in favour of publishing wallet public keys. The exchange will feature a full transparency page to allow anyone to see that any temporarily stored funds are fully backed. In the future, a full proof of reserves will be deployed to assure all customers that their balances are represented. While this enables for an ongoing and continual public audit, something not presently available on any other Canadian exchange, it is still not recommended to store funds on any exchange.

In addition to the token validation/verification function:

• TxQuick will be the first platform to allow buying and selling of the tokens.
• TxQuick proposes to accept the tokens at face value towards trading fees on the exchange. Affected users can use tokens to get free (special occasions) or discounted trading (50%+ off normally).
• TxQuick proposes to offer a slow token payback, enabling tokens to be exchanged 1:1 for cash over time using 15% of gross trading revenue.

This proposal is subject to final approval by the TxQuick board. It could be changed. There is a necessary interest level from the affected user community of at least 1,000 sign-ups.

While it might seem like Ethan is being super generous and giving a lot away for free, this is actually mutually beneficial (win win). Here are some of the benefits to the primary exchange:

• Sign-ups from affected users and, later, interested consumers, many of whom will use the platform. TxQuick desires to achieve a dominant position in the Canadian marketplace. While we expect that TxQuick will be building a great platform, and that due to the greater transparency and Ethan's high integrity, this should help keep funds safer overall, no deposit or trading on the platform are required to receive your free tokens.
• The token program provides a price segment, increasing revenue over time. Essentially, TxQuick is giving a preferential rate to affected users and those who hold a stash of tokens, earning extra revenue on customers who prefer the more convenient and efficient (token-less) trading experience. (Low price = lost profits, high price = lost customers, price segment = more profit/customers.)
• Customers with recovered funds are likely to be more loyal and prefer the platform, and the profit share incentivizes growth of the platform. This is much the same incentive as you might get with a cooperative, credit union, or other businesses which offer loyalty programs. (Interests are aligned.)

It is not required to use the TxQuick platform for trading or deposit any money to get your free tokens. Those who don't deposit or trade can still spend tokens at the marketplace and/or participate in the 15% profit share.

Don't Miss This Unique Opportunity

As mentioned, we need 1,000 sign-ups for this token program to go ahead. A pre-claim gives you the opportunity, but not the obligation, to move forward with a token claim. The form below will save your information anonymously (only tied to email) so we can notify you when the program launches.

To Save Your Balance
First Name:		Enter your first name as registered on the QCX platform.
Client ID:		Enter your Client ID for your QCX account.
For Our Launch Email
Email:		Enter a secure email address which you will still have access to in a few months. For maximum privacy/security, you can set up a forwarder.
I accept the Terms of Use and Privacy Policy.

The final claim process has not yet been determined. Claims with insufficient evidence may be limited or rejected, at our sole discretion. It is recommended to keep aside copies of all bankruptcy claim paperwork, both sent and received.