Letter from CEO: Blockchain Delays FIXED

Dear community,

Here at TAGZ we aim to be transparent and as such I would like to acknowledge that there has been major blockchain delays in processing withdrawal transactions since 28th April 2020. We are working diligently to resolve these delays as the underlying issue has mostly been in part to:

  • Blockchain Gas Fee increases due to network congestion
  • Backend operation changes
  • Exchange system upgrade

During this time we have been updating our internal processes and backend exchange server operations with our new Smart AI processing rules allowing for greater improvement and efficiency for faster transaction times. This change has been integral to pivot ourselves in the right direction going forward for the long term to make sure the ship is on course and in line with our current Beta platform phase.

This integration will allow for greater transparency and order visibility for all users and at the same time will greatly improve and streamline everyday business practices and the overall efficiency of TAGZ Exchange.

On behalf of TAGZ I humbly apologize for the inconvenience caused over the past few weeks that has effected some users but I personally reassure you that this system upgrade was necessary. 

At TAGZ we always have our users experience front of mind and together with the interests of our community and the above information we have had to make some undesirable changes to our withdrawal fee table. 

Please see our updated fee schedule for a full breakdown of fees for all assets.

Please NoteAll existing withdrawal requests in “working” status will be automatically cancelled and will enter a “failed” stance and will need to be resubmitted again due to the new withdrawal fee amendments.

Thank you for your understanding.

Sincerely,

Bryan M. Seiler
Founder & CEO
TAGZ GROUP PTY. LTD.