New Changes Coming To ERX! HUGE Audit Dept. Revamp!
AidenAstrup
Hello ERX Users!
As of tomorrow, all withdrawals and deposits will have a 1% fee added to them. Note that this is not for our profit line! Admin charges us a fee to use the API system which allows us to give you instant deposit and withdrawal processing. We are simply covering that charge. If admin removes the fee, we will as well. We do not intend to add fees onto random transactions, only when there is some cost behind them.
NEW FEATURES!
You will be happy to know though that we have some great changes coming to ERX! We’ve heard your voices, listened to your demands and complaints and we are proud to announce some great features coming to the ERX system.
The largest development is what we feel will bring the most change for the simplest investor. A new classification of shares will be created, currently called “Certified Listings”. This list will contain 5-15 corporations which have been selected by a Board of experienced economic minds inside ERX. The corporations on this list will be hand-picked by the Board and forced to follow a strict set of rules, making sure they publicly announce income, revenue, spending, etc as well as other rules. This will create a set of corporations that the everyday investor can feel safe investing in. Certified corporations will be 100% backed by the faith and credit of t’jelle.
Many users have complained about inactive corporations and even CEOs who have an IPO and then disappear. This has driven me mad as well, and I have spent the past few months devising a way to rid ERX of these problem listings. The next release will erase all corporations from ERX who have never sold a share since they joined ERX and have been around for at least 60 days. In addition, corporations with shareholders which have not sold a share in 60 days will be put on a “watch list” for a new watch-dog department underneath our current Audit Dept. Should a corporation be deemed inactive, ERX Auditors will freeze the listing - restricting the buying and selling of shares and begin the process of getting money from the CEO to repay investors.
Audited corporations will also have to reapply for their audited status every 30 days. This will ensure that inactive corporations are quickly demoted to an unaudited status after 30 days and taken care of by our Audit Dept as stated above. It will also make sure that a CEO doesn’t clean up their act for the Audit Dept and then start scamming investors. They will have to constantly maintain decent business practices if they wish to maintain an audited status for their corporation. In order to help cover the costs of the increased surge in audit requests, the initial audit application will cost 5 Gold - this also ensures that CEOs are dedicated to their listing. Renewals will have a .5 Gold fee attached. These fees are very small and help in paying for the increase in staff needed to go through all the applications. Over the next week, we will be reviewing the fee and deciding if it should be changed, the numbers in this article are not final.
We are sure that these changes will greatly improve the investment sentiment in eRepublik, allowing investors to feel safe with their money on ERX. Obviously, these changes don’t mean that we think everything is perfect now - we are going to continue working on even more great features and tweaks to make ERX better.
These changes should arrive within the next week or so, we are working on getting our new programmer all set up.
AidenAstrup
CEO of t'jelle - Parent Company of ERX & t'jelle Bank
Comments
derp
Reading...
Great job! This will be a hughe improvement!
taxes..more taxes..
complaints... more complaints!
IM FAMOUS!
ooow
Better a percentage of the total value than a 5 gold fee for the audited status.
your fing scam is over. maybe some will go on that road again. will get burned also.
ERX (an external site) *Cannot* Protect "Investors" from Greedy Corporations from Donating Investors' gold to other in-game entities... thereby preventing investors from obtaining dividends.
Caviet Emptor! (Buyer BEWARE)
A little piece of advice,
DO NOT! and I repeat DO NOT! Trust Carlos Vasco he's a Colombian citizen and has robbed 500 Gold from the treasury using ERX ask anybody and the truth shall set you all free of this loser.
Excellent.-
Invest in Talkewa's Holding, a Seriously and Secure Corp.
http://erx.erepublik.ws/TALK
😉
A thief is auditing our money.
Carlos Vasco stole his own country.
http://img80.imageshack.us/img80/7979/respuestaticketadmins.png
No more thieves managing our money.
thanks erx🙂 just not very happy bout the 1% but its only 1 I guess
wow, the initial 5g audit fee is steep... should come as a package (e.g. with certain number of free monthly audits)... feels like being charged an annual fee AND a monthly fee... thanks for the work on erx tho 🙂
scam
A thief is auditing our money.
Carlos Vasco stole his own country.
http://img80.imageshack.us/img80/7979/respuestaticketadmins.png
No more thieves managing our money.
X2
Admins charge you a 1% transfer fee in game currency? That doesn't even make sense.
And fee's fee's everywhere now, makes it sound as if ERX is going to be making a TON of cash while everyone else "might" make some. Something just doesn't seem right about this at all.
WTF, I appreciate getting rid of all the trash stock out there and I'd be glad to submit an audit every month, but I don't want to have to deal with fees everywhere. 0.5 gold a month would be like putting a 12.5% tax on me considering my dividend is currently 4 gold a month. Well, looks like I'm done with ERX
@JoeDubs - http://api.erepublik.com/ - click on the Documentation PDF and scroll waaaayy to the bottom. They actually charge 3%.
As I stated, we are only putting this fee up, because we are being charged as well.
@Addiaz - We are currently investigating the situation.
@AidenAstrup
Cool...
Notify me when you´ve got something bout it. plz.
Class work ERX staff, voted
Why would I invest in the same place that stole gold from me? Never.
I still an incredibly frustrated at ERX. I tried to deposit 10 gold into my account about 2 months ago. I've filled 3 tickets since then and still have not heard of a solution!
seems like I will just report my earning as an article rather than paying gold each month...this is completely the wrong approach
audit fraud company
that's a ripoff!
5 gold for an audit, and 0.5 per month?
just say that ERX need to make more money now.
There are no more contracts in eRep. How can anything actually be enforced? The answer is it can't.
Why don't you ask the admins for contracts back? I know I did, I made an article that got in top 5 international and made a forum petition, and still nothing.
I will try to ask them again. I hope I can count on the support of the ERX on this matter.
@Tanaka - I am sorry to hear that! Send a PM to Evry, he will fix it up in no time 😉
@Octavian_F - I started a forum petition as well if I remember correctly. You have my full support 😉
@Nirque - The fee could change before we release it, however, there are enormous costs to performing audits for each corporation.
@bitemyrevenue - Send me a PM with your issue, maybe I can help.
Good & new features!
so not voted you just killed erx with all these taxes we wont be able to pay dividends so become serius if you want to continue your excistance i withdraw all of my money and propably i will stop giving dividends. as for the great list you throw the small companies that they realy pay out to the hell and you take big companies that they fraud people to the heaven tale for instance MBSB coorporation with CEOs the jaguaro that he is famous for his economic skills this company you will put it to that list allthough they have nmore thab two months to pay out
goodbye
What will happen to my gold that I invested in some organizations that are inactive right now. For example this one http://erx.erepublik.ws/VHGR
@aidenastrup
A fixed 0.5 gold fee is going to put out of ERX all small and medium companies. Maybe it could be better to make a segmented fee, 0.125 for companies with value up to 50 gold, 0.25 for companies with value up to 250 gold, 0.5 for companies with value up to 1250 gold and so on...
Another idea, if you want to put a fixed mouthly fee, propose it to the 10-15 companies you are thinking to put in your "Golden Index". Being audited every mouth makes them sure investment and give them more chances to have good volumes of negotiation. Other companies will not have to pay the fee, but will be putted in a index of no so sure companies. Finally, any ideas for what companies pick??:
http://www.erepublik.com/en/article/15-erx-blue-chip-index-2010-08-31--1503835/1/20
ypourgos remove your comment or you will reported. MBSB (or BS😎 is in the market from day 650 and paying dividends constantly! You got in the game at the day 860+ and you try to critisize a company that didnt pay you dividends when all the economy of the game was f@#$ed up! We have come back dynamically after the merge with a good valued company and profits. NOW that economy starts rolling we will pay also dividend.
Audit This:
http://www.erepublik.com/es/article/v2-treasury-bonds-1408062/1/20
FAKE BONDS? THOUSANDS OF GOLD? WHERE ARE THE INTERESTS?
@lsadvastar - Those bonds weren't released on ERX, however, no US Securities will be receiving audited status on ERX until their previous debt obligations are paid back in full.
Investment:
http://erx.erepublik.ws/CARB
Investment:
http://erx.erepublik.ws/CARB
Will I be able to take over inactive corps that I have stocks of? If not, ERX is still piece of shit