Week Update 3

Hello everyone!

With a little delay, here are the highlights of the past week (Aug.14-20):

1 MINING POOL

1.1 We are hosting a brand new coin: xGALAXY, running with the x16r algo.
1.2 BTX and CRS have been taken offline due to little interest in these coins.
1.3 ETH pool is still in progress, we hope to launch it very soon!

2 MASTERNODES

2.1 As mentioned last week, Pickaxe needed to review its strategy in order to increase profitability (for both Pickaxe and MN co-owners) in this difficult market:

• Portfolio review:
  After investigation, the worst coins listed at Pickaxe have been identified and removed from the webshop.
  For every Masternode of those flagged coins, we asked co-owners to vote for dismantling. This is ongoing right now.
  If a majority still wants to keep those said Masternodes, we will respect their decision, but keep in mind these have been flagged as bad projects, and are risky for you and Pickaxe.
  We understand that dismantling Masternodes is always disappointing to do, but sometimes it's needed.
  This weekend, we will review the votes, and proceed to refund/dismantle as required.

~~ Voting was done and refunding/dismantling is completed where necessary. ~~

• Infrastructure optimisation:
  The next big step, following the portfolio review, is to optimize our server infrastructure.
  Early next week, we will be doing some maintenance. Most masternodes will be affected by this.
  Don't worry : we will have a dedicated team working on this to minimize any downtime. We expect this maintenance to be less than four (4) hours.
  Pickaxe Masternodes have always been very stable and this maintenance will ensure that we keep providing the same quality.

~~ Maintenance has been completed with success! ~~

Pickaxe as a company is getting more mature and we are confident that those required changes will be benificial for all of us.

We would like to thank you all for your trust, that means a lot to us and we are truly sorry for the inconvenience.

Our top priorities have always been to provide premium services & support, at a low fee, and this will always be the case.

2.2 In the past week, 5 MasterNodes were filled and activated.
These include dedicated (DED) as well as shared (MN).

• Dedicated
  QYNO
  XMN

• Shared MN
  IFX
  MCT
  PIRL

2.3 ZEN Supernode 2 is very close to getting filled, only 6 seats remaining !

3 What's coming up?

3.1 Fonero-coin is going to be added to the pool, it will be running on phi-algo.

If you have any questions or remarks, feel free to leave a comment!

Happy Mining!
Car00ke.
The Pickaxe Team.