Friday is here, which means it's time for our weekly PointPay recap. Get ready to discover the latest updates, announcements, and news from PointPay, as well as congratulate the winners of our competitions!

Let's start by announcing the competition winners:

  • In the Trading competition, the winner is 17602998573, who will receive 5,000 PXP!
  • In the Bug&Suggestions competition, the winner is 15664034215, earning 7,500 PXP!

Congratulations to our winners! Your well-deserved rewards will be credited to your accounts within the next few business days.

Now, let's talk about the new round of the Bug&Suggestions competition. We invite you to share your ideas for improving PointPay, as well as any bugs or issues you've encountered, through the designated form. By participating, you have a chance to win 7,500 PXP! The results of this competition will be announced in our upcoming Weekly Update.

Moving on to our announcements! You might have noticed that a new round of the Trading competition hasn't been announced yet. That's because we've been diligently working on revamping the format for these competitions. We're excited to inform you that we now have a dedicated tab called "Trading Competitions" on our website and in our apps. This tab displays all the ongoing competitions where you can participate.

In the new competition format, you can trade with various pairs, and the duration of each competition is customizable. You'll be able to track your progress and see your position on the leaderboard.

Moreover, rewards will be distributed not only to the top performer but also to multiple winners, depending on their activity levels.

Please note that you are no longer automatically registered for competitions. To participate in a new competition, simply go to the "Trading Competitions" tab, select the competition you're interested in, and click the "Join" button. From there, you can start trading with the specified pairs and earn trading volume, which determines your position in the rankings. The available trading pairs for each competition can be found in the dropdown menu labeled "Trade."

The leaderboard positions are automatically updated every few minutes. At the end of each competition, rewards will be credited to the winners' accounts automatically.

Currently, the tab displays test competitions that do not offer rewards. However, our first official competition in the new format will start on Monday, July 17th! Prepare yourself to compete with other traders and PointPay users for the opportunity to earn PXP tokens as a bonus for successful trades.

Don't forget that the more PXP you hold in your account, the lower your trading fees will be. Additionally, you always have the option to pay trading fees with PXP instead of the transaction currency. It's a highly convenient feature!

Now, let's discuss the recent improvements we've made to PointPay throughout the week. Alongside our work on Trading competitions, we have dedicated special attention to enhancing the platform's translations. We greatly appreciate the feedback and language-specific suggestions we've received from our users, and we've been gradually implementing them into the platform. This process takes time and effort, but we take pride in providing our global users with services in their native languages, ensuring a seamless experience.

Furthermore, we've continued addressing and resolving known bugs that were reported by some users. While most of these issues were visual and didn't affect the functionality of PointPay, we understand that they could cause confusion. As of now, a significant portion of these problems has been successfully resolved!

Now, let's delve into the current news within the crypto sphere, particularly the long-awaited victory of Ripple over the SEC.

After a legal battle that lasted since December 2020, we're thrilled to announce that Ripple has emerged victorious! The judge's decision ruled in favor of Ripple and its token XRP, officially stating that the sale of XRP does not fall under the category of trading securities and is outside the jurisdiction of the SEC.

This landmark decision not only resulted in a substantial price surge for XRP (almost 30%, from $0.46 to $0.6), but it also sets a precedent, showcasing how a crypto company successfully defended its token against the SEC's claims of being a security. This outcome indicates that the SEC's control over cryptocurrencies is starting to wane, allowing companies to protect their interests with greater confidence.

Currently, several exchanges have already announced the imminent reintroduction of XRP to their trading platforms, while many others are considering a similar move.

Congratulations to Ripple and the entire crypto community on this significant victory that has the potential to reshape the landscape of the industry!

Thanks again for taking the time to read this update. We look forward to seeing you next week!

Happy trading!


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