|ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT, CAD

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Re: [ANN]Xagate [Offering: XAG, CAD, NXT Soon: BTC, all PM

Postby twarden » Thu Dec 11, 2014 7:14 pm

Here is an update to the project. As of today, I am still awaiting Thawte to deliver the SSL certificate to begin testing after its installation. I have discovered that the Visa PayPower system also charges 4.95$ a month as a monthly maintenance fee. This fee is charged on the last day of the month, so remove all funds from your PayPower card before that time or you will be forced to fill Visa's pockets more for using their card. This has been added to the CAD Gateway information and pricing information in the terms of service.

Updates to the Terms of Service and XAG gateway include the following:

Limits imposed on Withdrawals

There is a minimum redemption of this XAG asset, which is 10XAG. Other limits which apply are the policies reflecting suspicious transactions related to money laundering and the financing of terrorist activities. Please refer to those sections within Xagate's terms of service for more information.

Information pertaining to XAU, XPT, and XPD is here. Xagate will hold on deposit these assets for withdrawal at a future time in exchange for a digital warehouse receipt, less a fee. The fee structures will soon become available. We will not demur-rage your assets that you deposit, there is no added service fees for these IOUs. The only fees that Xagate charges are the deposit fee, withdrawal fee, shipping fee, and taxes on some products (HST).

Limits imposed on Withdrawals

XAU

There is a minimum redemption of XAU, which is 5 ounces of gold. Other limits which apply are the policies reflecting suspicious transactions related to money laundering and the financing of terrorist activities. Please refer to those sections within Xagate's terms of service for more information.

XPT

There is a minimum redemption of XPT, which is 5 ounces of platinum. Other limits which apply are the policies reflecting suspicious transactions related to money laundering and the financing of terrorist activities. Please refer to those sections within Xagate's terms of service for more information.

XPD

There is a minimum redemption of XPD, which is 5 ounces of palladium. Other limits which apply are the policies reflecting suspicious transactions related to money laundering and the financing of terrorist activities. Please refer to those sections within Xagate's terms of service for more information.

A Note on Withdrawal Limits

All minimum withdrawal limits are subject to change, without notice, at the time of your quote. This will occur in instances when Xagate must abide by the laws and guidelines set forth by the Law and FINTRAC. Whenever a transaction notification of 10,000$CAD worth of financial instruments is initiated, a regulatory process must be upheld. Your quote will include an explanation of these regulations as well as provide you with the calculation of the new minimum and maximums for the precious metals IOUs, when required.

Does anyone have any questions relating to the information I have provided about my Gateway project so far?
Last edited by twarden on Mon Dec 22, 2014 6:52 pm, edited 2 times in total.
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Re: [ANN]Xagate [Offering: XAG, CAD, NXT Soon: BTC, all PM

Postby twarden » Fri Dec 12, 2014 9:46 pm

Minor update to the xagate.com web site includes changes to the Terms of Service and IRBA pages. I am currently working on the scripts needed for handling CAD. My web hosting provider is chasing Thawte for me because my deadline for closed beta testing is coming due and I am still awaiting my SSL certificate to be able to begin that process. I have set up an agreement with singpolyma, the RippleUnion gateway operator, to speak about how our Gateways may complement each other. I will be popping into #ripple on freednode on Saturday night to see if he is around and to converse publicly with him and any other members of the Ripple community who wish to join in! :)

Today, I have sent off my message to FINTRAC to gain login credentials for F2R reports, the system for reporting suspicious precious metal transactions where the Law and regulations apply to my Gateway's operation:

Attention to Stephanie Stoddart,

Hello again, Ms. Stoddart. I am replying to your email from October the 10th sent from the email address whotooktwarden@gmail.com. I was requesting information at that time if my business would be considered a Money Services Business. The information you provided me suggested I am a dealer of precious metals and stones and would require F2R login credentials for the purpose of reporting suspicious transaction for FINTRAC's review.

Please find attached my Master Business License, provided by ServiceOntario. Also, please find below the full Terms of Service and Pricing Information for all products offered by my business: XAGATE.

The Terms of Service on the first page of this Thread.


Please advise me of any necessary changes to my AML policies, my status as a MSB, and the login credentials for F2R Reporting. Xagate.com will be operational as of Christmas 2014. I am awaiting delivery of an Extended Validation SSL certificate from Thawte, closed beta testing will occur after the traffic on my web site becomes encrypted. The full terms of service can be found at the following link: viewtopic.php?f=3&t=8576

Thank you again for your time and your help in setting up my business,
Taylor
Last edited by twarden on Mon Dec 22, 2014 6:53 pm, edited 1 time in total.
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Re: [ANN]Xagate [Offering: XAG, CAD, NXT Soon: BTC, all PM

Postby twarden » Sun Dec 14, 2014 12:41 am

This is the chat log of the discussion singpolyma and I had in #ripple on freenode this evening:

[18:28] <singpolyma-bb10> twarden: Hi!
[18:29] <twarden> singpolyma-bb10: Hi, how has your Saturday been?
[18:32] <singpolyma-bb10> pretty good, how about you?
[18:33] <twarden> Besides being woken up too early by my neighbour, all is fine.
[18:34] <twarden> If there are any other Canadians in the channel, feel free to contribute to this conversation sing and I have set up :) First is first, singpolyma, can we first speak about the fees our gateways charge?
[18:34] <singpolyma-bb10> Sure
[18:35] <twarden> RippleUnion charges 2$ flat on deposits and withdrawals whereas Xagate's ToS currently reflects we will charge service fees for the a PayPower deposit @ 0.20% applied to the total, plus HST. Service fees for the interac e-transfer deposit are 2.50$ plus HST, plus any fees applied by your bank.
[18:36] <twarden> For a fair and competitive environment, I have decided to raise the first method to 2$ for PayPower cards and lower the e-transfer fee to 2$, just like your Gateway.
[18:37] <singpolyma-bb10> We've been doing flat fees for now because all our per-transaction expenses are flat fees from the bank
[18:38] <twarden> I have taken your suggestion under advisement to set up an RBC account. TD Canada Trust was a huge mistake and a waste of time. My costs are likely exactly yours for e-transfers.
[[18:39] <singpolyma-bb10> We're still TD, but I do my personal banking with RBC and they seem much nicer to work with overall, from what I've seen/heard
[18:40] <twarden> After speaking with an RBC rep, who was also a bitcoin enthusiat, he has set me up an account for 10 free debits. The next step up is 15$ for 15 debits, then the dollars in my account will be debited past these limits.
[18:40] <twarden> Enthusiast, rather
[18:41] <singpolyma-bb10> So your plan is also to start with e-transfers? Have you looked into interac online or other things much?
[18:42] <twarden> There are these prepaid visa credit cards which can transfer funds for free to the end user, I am charging a fee for the service of depositing and withdrawing these credits. I am also going to offer the option for e-transfers at launch.
[18:43] <twarden> I will, however, not offer a proxy buying service or a bridge to ETFs through Ripple.
[18:43] <twarden> EFT, rather.
[18:43] == singpolyma-bb102 [~yaaic@199-7-157-62.eng.wind.ca] has joined #ripple
[18:44] <twarden> Did you get my last message, sing? You dropped.
[18:45] <singpolyma-bb102> prepaid visa cards are awesome. We've investigated a couple of times, but never quite found something that worked well for us. That sounds like a great service to be offering
[18:46] == singpolyma-bb10 [~yaaic@69.171.154.34] has quit [Ping timeout: 265 seconds]
[18:46] <twarden> I live right by a hasty market which sells these reload packs and cards. I frequent this store and I am trying to build a good reputation with the owner.
[18:47] <twarden> I think that covers fees, do you have any more to add?
[18:48] <singpolyma-bb102> What about limits? One big case of e-transfer fraud can kill you pretty quick
[18:48] <twarden> Yes, limits on e-transfers are different between our gateways.
[18:48] <twarden> RippleUnion offers a limit of 150$ per account whereas Xagate offers 100$ per account.
[18:49] <twarden> The current bank account I have with RBC has a hard limit of 1000$ of transactions done in this fashion, per day.
[18:49] <singpolyma-bb102> We also increase a patrons limit (up to a maximun) over time as they continue to be a trustworthy customer
[18:50] <twarden> How do customers build a report with RippleUnion to acquire patron status? I'm curious.
[18:50] <lukecyca> Hey guys. I don't have much to add. Just want to say that RippleUnion's ETF bridge is awesome. :)
[18:50] <singpolyma-bb102> Just as they make non-fraudulent deposits we trust them more each time a deposit is good
[18:51] <twarden> @lukecyca Hello again :) hope you are having a good weekend
[18:52] <twarden> @singpolyma-bb102 Do you have a written policy for this or do you serve this status on a case-by-case basis?
[18:53] <singpolyma-bb102> lukecyca: I think you and one other are the largest users of that bridge
[18:54] <lukecyca> A well-implemented bridge is one of the most magical things in ripple. To be able to sent money to my VanCity credit union bank account from rippletrade.com is just incredible.
[18:55] <lukecyca> twarden, take note. Implement the bridge protocol. ;)
[18:56] <twarden> @lukecyca I will be offering NXT and BTC manually at first through Xagate. I will be implementing the blockchain-bridge plugin to handle these transactions automatically :)
[18:56] <singpolyma-bb102> Twarden: the increasing limit? Our written policy is that it "will increase over time", but we've tweaked the exact formula a couple times
[18:56] <lukecyca> I was happy to see that SnapSwap has set up some sort of bridge to PayPal. I haven't looked at it yet though.
[18:56] <twarden> singpolyma-bb102: Alright, my curiosity is satisfied.
[18:56] <singpolyma-bb102> sorry I keep dropping here guys
[18:57] <twarden> singpolyma-bb102: What will your initial limits be for CAD.XAGATE being held at RippleUnion be for the purpose of Rippling? I will attempt to match these holdings of CAD.RippleUnion in the Xagate hot wallet.
[18:58] <singpolyma-bb102> twarden: if you're going to do a btc bridge I'm gonna want to talk to you about payments.rippleunion.com -- maybe when we meet up, it's a more involved discussion
[18:58] <twarden> Additionally, I will be offering to start the CAD.XAGATE > CAD.RippleUnion IOU conversion rate at 0.95 to 1.
[18:59] <twarden> singpolyma-bb102: I would also like to discuss the tentative date we set for January the 8th, I may ask that we change this date to the 31st or look for a day in February to do our meet up. I expect to be quite busy now within the first two weeks of the new year.
[19:00] <singpolyma-bb102> twarden: sure, we can meet a different day. Can you email me about that so I don't forget?
[19:01] <twarden> singpolyma-bb102: Certainly :)
[19:02] <singpolyma-bb102> for liquidity, I think I'd do somewhere like 500 CAD to start, until we see what kind of need there is as you get going
[19:02] <singpolyma-bb102> something like that
[19:03] <lukecyca> I gotta run, guys. Keep in touch!
[19:03] <twarden> I would think that I can handle doing that once I can get some more income. I am behind in rent and my income is provided by the Ontario disability support program. I think that I will be able to have that deposited to RippleUnion by February or the end of March at the absolute latest.
[19:04] <twarden> Bye lukecyca :)
[19:04] <singpolyma-bb102> twarden: cool
[19:04] <twarden> singpolyma-bb102: What sort of interest do you have in precious metals, if any?
[19:08] <singpolyma-bb102> twarden: I watch the metal market a bit, but always with some dubiousness
[19:10] <twarden> singpolyma-bb102: Would you be interested at all in also making an agreement that we create small markets for the liquidity of XAG/CAD? Say 50$ from each of our gateways?
[19:11] <twarden> Also, if anyone has not heard of Mike Maloney or David Morgan and you are an silver stacker or interested in PMs at all, check out there material on YouTube.
[19:11] <twarden> their, rather.
[19:17] <twarden> singpolyma-bb102: Are you still active?
[19:24] <singpolyma-bb102> twarden: XAG against what gateway? I think I'd rather start with CAD
[19:24] <twarden> Alright, we will only start with CAD and perhaps move on from their later.
[19:25] <twarden> I was referring to the 500$ we would hold of each others assets, taking 50$ each from that pool of funds.
[19:28] <singpolyma-bb102> Right. I still think we're best off putting the whole amount to CAD to start
[19:28] <twarden> Well I think that I have asked you everything that I would like to know at this time. Do you have any further questions for me?
[19:30] <singpolyma-bb102> Not just now, I don't think :)
[19:31] <singpolyma-bb102> Thanks for the chat!
[19:32] <twarden> Thank you again for all of your help and your time :)
[19:32] <twarden> I have read your Ripple payments processor page, I am excited to learn more about this in the New Year :)
[19:33] <twarden> Have a good night sing and I will speak to you some time soon. Merry Christmas and a Happy New Year to you.


On the business end of things, Coinbase has declined my application as a merchant. I am currently exploring systems that I can use which are pre-built instead of auditing bitcoin addresses manually for transactions at the beginning phase of accepting bitcoin deposits and processing customer withdrawals. Additionally, I have been in contact with a friend of mine from high school who is a licensed life insurance agent. I will be discussing a life insurance policy in the case of my accidental death so that any outstanding business expenses of Xagate may be paid to creditors and our clients. I am also exploring a disability policy should I become injured or too ill to be able to work. I would be able to close down the Gateway and pay all of the expenses associated with that, or sell the Gateway to a competent individual who is capable of following the standards of quality which have so far been produced by this project.

I am still awaiting delivery of my SSL certificate. Thawte's upload script gave me a false positive when I first uploaded it; they've sent me a second notice to upload my business license and this has been done. I have been and I will be keeping in close contact with my web host support team this week as my deadline approaches the public release date.

Edit: Minor update to the terms of service and IRBA pages. As discussed within the above chat log, to remain fair and competitive with RippleUnion, Xagate has changed its fee schedule for CAD in the following ways:

- For Visa PayPower credit deposits, the fee is now 2$ plus HST, instead of a 0.20%, plus taxes
- For deposits of CAD using an e-transfer, the fee is now 2$ instead of 2.50$.
- For withdrawals of CAD through an e-transfer, the fee is now 2.50$ instead of 3.50$.

Additionally, I have made a tentative agreement with lukecyca to perform a security audit on the Xagate server once NXT and Bitcoin transactions are not handled manually by myself any more and have become automated processes.
Last edited by twarden on Mon Dec 22, 2014 6:53 pm, edited 1 time in total.
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Re: [ANN]Xagate [Offering: XAG, CAD, NXT Soon: BTC, all PM

Postby twarden » Wed Dec 17, 2014 9:16 pm

Minor update to the project progress leading up to the public beta release.

Thawte is making me jump through so many flaming hoops it's not funny. Also, I strongly suggest to developers to never choose this CA. Their quality of service is non-existent. I am attempting to get a free RapidSSL certificate installed on the server and the virtual host is choking. Thesslstore.com has locked me out of attempting to reissue a new certificate to begin closed beta testing. I've sent an email to my contact at this reseller to get things cleared up manually so I can begin working any kinks out of the system before this gateway is offered to the public.

Thawte is reimbursing me the full amount of my EV SSL order due to a false-positive success message when uploading my business license and for causing me further hassles, such as getting an opinion letter sent to them from a notary, both a hard and soft copy (money, money, money).. Again, if you are an entrepreneur or an IT professional doing research for the correct CA to choose for this product; avoid Thawte like the plague.

Xagate.com is unavailable at this time whilst performing this upgrade to the server. This will be completed by this Friday.
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
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Re: [ANN]Xagate [Offering: XAG, CAD, NXT Soon: BTC, all PM

Postby twarden » Mon Dec 22, 2014 6:49 pm

This will be the last time that I post a News update by making a new post to this thread. Any further News and Status updates can be found on the first page on the third post. The Status section will change regularly during this time as I am continuing to work with the CA and web hosting provider to encrypt the web site for release. The closed beta testing has been done for the business logic, however, the web site has not been externally tested (I have only done these test processes myself, without an issue) due to the lack of SSL. Due to this delay, I may have to push back the release date from Christmas to January the 1st, however, I am still aiming for a Christmas release date. If more delays occur, I will be posting that information to the previously mentioned News section on the first page, third post. Last, here is a status update from FINTRAC about the status of my business:

Dear Mr. Warden,

Thank you again for contacting the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), Canada's independent agency responsible for the collection, analysis, assessment and disclosure of information in order to assist in the detection, prevention and deterrence of money laundering and financing of terrorist activities in Canada and abroad.

I am writing further to your e-mails of December 12 and December 18, 2014, where you have asked for a review of your terms of service and AML policies, as well as a confirmation of whether your business should be registered as a money services business (MSB) or enrolled as a dealer in precious metals and stones (DPMS) with FINTRAC.

As mentioned in my previous correspondence of October 10, 2014, MSBs have the obligation to register with FINTRAC, and you are an MSB if you are engaged in the business of any of the following activities:
Foreign exchange dealing;
Remitting or transmitting funds by any means or through any person, entity or electronic funds transfer network; or
Issuing or redeeming money orders, traveller's cheques or other similar negotiable instruments (except for cheques payable to a named person or entity).

While the Government of Canada has made changes to what services make an individual or an entity an MSB in Canada to include virtual currency services, these changes are not yet in force. Those engaged in the business of dealing in virtual currency services cannot yet register with FINTRAC as MSBs, as they are not currently subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) as regulations must first be written to define what it means to be engaged in the business of providing these kinds of services.

Also as mentioned in my previous correspondence, subsection 1(2) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (PCMLTFR) defines a DPMS as “a person or entity that, in the course of its business activities, buys or sells precious metals, precious stones or jewellery.” However, as indicated in section 39.1 of the PCMLTFR, it is only once a DPMS engages in the purchase or sale of precious metals, precious stones or jewellery in an amount of $10,000 or more in one transaction, regardless of how it is paid, that they become subject to the PCMLTFA.

I cannot provide comment on your terms of service or AML policies, however, based on the information you provided, it appears as though you will continue to offer a trading platform for exchanges from and to virtual currency only. As such, you are not, at this time, engaged as an MSB within Canada. It is clear however, that you will be dealing in precious metals and stones, but before you can be considered a DPMS for FINTRAC’s purposes and enrolled with the f2r system, you must first confirm that, as per section 39.1 of the PCMLTFR, you have engaged in the purchase or sale of precious metals, stones or jewellery in an amount of $10,000 or more in a single transaction.

Once you confirm that you have engaged in this type of transaction, I will forward your information to our RE Assistance unit.

I look forward to hearing from you.

Stephanie Stoddart


I have replied asking if I must wait until such a transaction notification has been received or if I must wait until such a time I receive said notification to be provided with the f2r login credentials. Edit: Yes, this is the case, I have to wait until such a transaction occurs.

Xagate is open for business this Christmas!
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Re: [ANN]Xagate [Offering: XAG, CAD, NXT Soon: BTC, all PM

Postby twarden » Mon Dec 29, 2014 4:07 pm

Sadly, right after posting saying that I would not post consecutively to this thread for updates, I have to go back on my word.

I have found an error in my Gateway set up while I was attempting to show off the order book to a friend. rKYNhsT3aLymkGH7WL7ZUHkm6RE27iuM4C is no longer the gateway address to trust, as you will not be able to see the order book if you trust this address. rGgS5Hw3PhSp3VNT43PDTXze9YfdthHUH is the Issuing Account and has been renamed to ~Xagate. If you trust this address, you will be able to see the order book now. If you have trusted rKYNhsT3aLymkGH7WL7ZUHkm6RE27iuM4C, I strongly suggest removing that trust line as your balance(s) may ripple into this market making account!

The self-issued assets available at launch are 500 NXT and 2.16 XAG through ~Xagate/rGgS5Hw3PhSp3VNT43PDTXze9YfdthHUH. 2$CAD has been self-issued to the market making account for the purposes of testing the order book functionality.
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
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Terms of Service Update: May 12, 2015

Postby twarden » Tue May 12, 2015 4:00 pm

Terms of Service
Xagate Terms of Service ("Agreement")
This Agreement was last modified on May 12, 2015 by Taylor Warden.

Please read these Terms of Service completely using xagate.com which is owned and operated by Xagate. This Agreement documents the legally binding terms and conditions attached to the use of the Site at xagate.com. By viewing or browsing the Site, or by accessing or using any Services, you are agreeing to be bound by these Terms of Service.


Intellectual Property

The Site and all of its original content are the sole property of Xagate and are, as such, are fully protected by the appropriate international copyright and other intellectual property rights laws.

Links to Other Websites

Our Site does contain a number of links to other websites and online resources that are not owned or controlled by Xagate.
Xagate has no control over, and therefore cannot assume responsibility for, the content or general practices of any of these third party sites and/or services. Therefore, we strongly advise you to read the entire terms and conditions and privacy policy of any site that you visit as a result of following a link that is posted on our site.

Deposits of Precious Metals

The client, henceforth known as the Depositor, must initiate a Deposit Order by using the web form provided on the xagate.com home page. The Deposit Order must be initiated before the deposit can legally be received. Shipments of precious metals without a correlating Deposit Number, will not be processed and instead returned to the sender, at the sender’s cost.

Withdrawals of Precious Metals

The client, henceforth known at the Claimant, must initiate a Withdrawal Order by using the web form provided on xagate.com. A representative will contact you shortly after we have received and begun to process your order. Shipping fees are the Claimant’s responsibility and must be paid before the shipment of precious metals. Once the IOUs and shipping fee has been collected, your order will be marked complete and your precious metals will be shipped to you. Xagate offers the following methods of payment for shipping fees: Interac e-transfer, cryptocurrency via coinpayments.net, or XAG.XAGATE in exchange to the current XAG/CAD market rate at the of processing your quote.

Deposits of Digital Assets

The client, henceforth known as the Depositor, must initiate a Deposit Order by using the web form provided on the xagate.com for the digital asset in question. A Deposit Order must be initiated before the deposit can legally be received.

Withdrawals of Digital Assets

The client, henceforth known as the Claimant, must initiate a Withdrawal Order by using the web form provided on xagate.com. A representative will contact you shortly after we have received and begun to process your order. Once the IOUs have been collected from the Claimant, your digital assets will be released to the wallet provided with your Withdrawal Order.

Laws Affecting Transactions

Overview

In the case of a suspicious transaction report being required under Canadian law, as outlined in the PCMLTFR (please see below), we may require some more information via email. A transaction is defined as either a deposit or withdrawal.

Identification Requests

Clients who deposit or withdraw $10,000 of precious metals within a single transaction will be required to answer Identification questions as well as providing scans or high-resolution digital photos of documents a) Government Identification and b) proof of residency/nationality. The client will be subjected to submit their Full Name, their Full Address (including Postal/ZIP Code), Ripple address, a clear photo or scan of Proof of Identity, the last 4 digits of their Social Security Number, and a recent Utilities bill. Proof of Identity is defined as a passport, a Driver’s License, or typically any identification which includes all of the aforementioned information. A recent utilities bill is a bill which has been paid within the last 4 months at the time that the transaction was received by Xagate. Photos which are taken with cell phones may be declined due to poor quality.

Section 1

In Accordance with Canadian Law, a large cash transaction report is submitted to FINTRAC when a reporting entity receives 10,000$ or more in cash in the course of a single transaction, or when it receives two or more cash amounts totalling 10,000$ or more made within 24 consecutive hours by or on behalf of the same individual or entity. This regulation requires Xagate to regulate the deposit and withdrawal process of all assets, measured in Canadian Dollars, which is calculated at the time in which your order was received. This calculation will be done with the available trade data from any reputable statistics application which is available if nxtreporting.com, cavirtex.com, and/or bitstamp.com are not available to gather the required data. Xagate is no way affiliated with any of the aforementioned web sites.

Section 2

An electronic funds transfer report is submitted to FINTRAC upon a transmission of instructions for the transfer of $10,000 or more out of or into Canada in a single transaction or in two or more transactions totalling $10,000 or more made within 24 consecutive hours by or on behalf of the same individual or entity, through any electronic, magnetic or optical device, telephone instrument or computer.

Section 3

Xagate may be considered a dealer in precious metal and stones (DPMS). Subsection 1(2) of the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations (PCMLTFR) defines a DPMS as “a person or entity that, in the course of its business activities, buys or sells precious metals, precious stones or jewellery.” However, as indicated in section 39.1 of the PCMLTFR, it is only once a DPMS engages in the purchase or sale of precious metals, precious stones or jewellery in an amount of $10,000 or more in one transaction, regardless of how it is paid, that they become subject to the PCMLTFA and the obligations outlined therein. DPMS businesses are not required to register with FINTRAC.

Section 4

A suspicious transaction report is submitted to FINTRAC in respect of a financial transaction that occurs or is attempted, and for which there are reasonable grounds to suspect that the transaction is related to the commission or attempted commission of a money laundering or terrorist activity financing offence. Unlike all other reporting obligations, there is no monetary threshold associated with the reporting of a suspicious transaction.

Gateways, Cryptocurrency Entrepreneurs, and other interested individuals; please refer to the FINTRAC Annual Report for 2013-2014 at http://www.fintrac-canafe.gc.ca/publica ... /1-eng.asp.

Xagate is in no way affiliated with FINTRAC, however, Xagate may be required to submit clientele’s information as outlined above. As regulations in the future may affect Xagate, these Terms of Service will be required to change. Please refer to the Changes to This Agreement section.


Regarding the Law

This Agreement is governed in accordance with the laws of Ontario, Canada. Cryptocurrency and Money Services Businesses are a rapidly legislated and regulated industry. If you are a lawyer, investor, stakeholder, or Government regulatory agency that wishes to send an inquiry in regards to the law that may affect Xagate or its clients in any way (where applicable) see the Contact Us section. In the case of a civil lawsuit being issued to Xagate, the ensuing lawsuit will be heard from within a court of Ontario, Canada. ALSO, ALL CONTENT, SERVICES AND FUNCTIONS ON THIS SITE, OR ANY OTHER SITE LINKED TO THIS SITE, ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

Changes to these Agreement(s)

Xagate reserves the right to modify these Terms of Service at any time. We do so by posting an announcement of a change of Terms of Service within the Xagate Gateway thread on the official Ripple forums, to draw attention to the updated terms on the Site. It is suggested that you visit this thread and subscribe to it to receive future posts to your email. Your decision to continue to visit and make use of the Site after such changes have been made constitutes your formal acceptance of the new Terms of Service. Therefore, we ask that you review these Agreement(s) for such changes on an occasional basis. Should you not agree to any provision of these Agreement(s) or any changes we make to these Agreement(s), we ask and advise that you do not use or continue to access the Xagate site nor its services immediately.

Termination and Denial of Services

Xagate reserves the right to terminate your access to the Site, without any advance notice. Xagate also reserves the right to refuse deposits or withdrawals, without any advance notice (for example, in the instance of suspicious orders).

Pricing Information

XAG

Deposits

XAG is subject to a 0.02 XAG service fee, per ounce deposited from a client’s holdings. In the case of the Credit Card Gateway option, a 2% service fee will apply for deposits originating from a reputable online bullion dealer on the total of the silver deposited.

Withdrawals

On bulk orders of 50 XAG or more a nominal shipping fee will apply. The shipping rate depends on the destination address. Withdrawals for XAG.XAGATE incur a 10$ fee for Canadian residents, 15$ fee for USA shipping, and 30$ for flat-rate worldwide shipping (plus applicable taxes).

Limits imposed on Withdrawals

There is a minimum redemption of this XAG asset, which is 10 XAG. Other limits which apply are the policies reflecting suspicious transactions related to money laundering and the financing of terrorist activities. Please refer to those sections within Xagate's terms of service for more information.

Available Soon: All precious metals!

Information pertaining to XAU, XPT, and XPD is here! Xagate will hold on deposit these assets for withdrawal at a future time in exchange for a digital warehouse receipt, less a fee. The fee structures will soon become available. We will not demur-rage your assets that you deposit, there is no added service fees for these IOUs. The only fees that Xagate charges are the deposit fee, withdrawal fee, shipping fee plus taxes where applicable.

Limits imposed on Withdrawals

XAU

There is a minimum redemption of XAU, which is 5 ounces of gold. Other limits which apply are the policies reflecting suspicious transactions related to money laundering and the financing of terrorist activities. Please refer to those sections within Xagate's terms of service for more information.

XPT

There is a minimum redemption of XPT, which is 5 ounces of platinum. Other limits which apply are the policies reflecting suspicious transactions related to money laundering and the financing of terrorist activities. Please refer to those sections within Xagate's terms of service for more information.

XPD

There is a minimum redemption of XPD, which is 5 ounces of palladium. Other limits which apply are the policies reflecting suspicious transactions related to money laundering and the financing of terrorist activities. Please refer to those sections within Xagate's terms of service for more information.

A Note on Withdrawal Limits

All minimum withdrawal limits are subject to change, without notice, at the time of your quote. This will occur in instances when Xagate must abide by Canadian law and guidelines set forth by the FINTRAC. Whenever a transaction notification of 10,000$CAD worth of financial instruments is initiated, a regulatory process must be upheld. Your quote will include an explanation of these regulations as well as provide you with the calculation of the new minimum and maximums for the precious metals IOUs, when required.

Cryptocurrency Deposits (BTC, LTC, NXT)

All fees are subject to change.

Service Fees:

BTC 0.5% + 0.00016BTC
LTC 0.9% + 0.0026LTC
NXT 1.99% + 1.5NXT

Fiat (plus Fees):

Flat rate 3.50$CAD, coinpayment.net
Flat rate 2$CAD, Interac e-transfer

Ripple (plus fees):

XRP 0.99%
CAD.RippleUnion 0.59%
BTC.SnapSwap 0.59%
USD.SnapSwap 0.59%
EUR.Bitstamp 0.59%
GBP.Bitstamp 0.59%

Minimum Deposits:

0.005BTC
100NXT
1LTC
20$CAD

Deposit Instructions

Crypto Deposits [BTC, LTC, NXT, CAD]

To make a deposit, trust the gateway address rGgS5Hw3PhSp3VNT43PDTXze9YfdthHUH with no less than 0.5 BTC, 10 LTC, 150 NXT, or 20$CAD. Minimum deposits to the gateway are 0.005BTC, 1LTC, 100NXT, and 20$CAD. You may optionally click click the Trust hyperlinks next to each asset offered on the Deposit page to be forwarded to the Rippletrade client.

IMPORTANT: If you would like to act as a rippler, please enable Rippling. If you do not want your XAGATE IOU balances to fluctuate with other gateways you trust of the same type of currency code, then disable the Rippling option.

Xagate uses the coinpayments.net payment processor to manage the deposits of many types of cryptocurrencies and popular Ripple IOUs. We allow direct exchange of the accepted cryptocurrencies and IOUs for CAD.XAGATE. If you would like to directly exchange your dollars for CAD.XAGATE, a 2$ service fee applies plus any fees applied by your bank to send an Interac e-Transfer.

Visit the Crypto Deposits section of the Xagate web site. Choose which IOU you would like to have deposited to your Ripple wallet. Use a valid email address that you can be reached at as well as include your Ripple Address in the Note to Seller section, this is very important because without your Ripple address, it can slow down the deposit process. We will wait for your to complete payment for your deposit and verify the transaction. Once verified, usually within 3-48 hours, we will issue your IOUs to your Ripple wallet.

CAD

An RBC account has been set-up for the purposes of increasing the deposit and withdrawal methods of the CAD.XAGATE IOU. There is a hard limit of 100$ per day, per account. This is because the daily send limit is currently set to 1000$. This will be increased in the future as Xagate builds transaction history with RBC and moves on to a larger account type.

Deposit CAD

Service fees via cryptocurrency deposit are 3.50$ via coinpayments.net. Service fees for the Interac e-Transfer method are 2$, plus HST, plus any fees applied by your bank.

Redeem CAD

Interac e-Transfers have a hard limit of 100$ per account, per day. The service fee is 2.50$.

International Ripple Business Association Information

A Listed Gateway must be verified by the association and the member Gateway must disclose certain information and apply certain standards to its business practices. Xagate is currently seeking membership with the International Ripple Business Association (IRBA).

Attention: Investors

Xagate has adopted the NXT Asset Exchange as the method to deliver shares of Xagate to potential investors. Below, you will find all pertinent information regarding the Xagate Asset which can be traded from a NXT client or at https://trade.secureae.com/. Please note that Xagate is in no way affiliated with this web site.

General Journal 2014
Income Statement and Balance Sheet

Income statements and balance sheets to be provided each year end.


IPO

Contract ID: https://trade.secureae.com/#11122136750898099656
Issuing Address: NXT-R8NC-ZZ8N-TCVD-9E9SU
Price/each: 672.75/ea to raise 26,910 NXT for development of this project. A majority stake will be held of this asset (51%).
Last Price: 0.03825257 BTC/ea
Announcement on Nxtforums.org: https://nxtforum.org/trading-exchanges/(ann)xagate-(offering-xag-cad-nxt-soon-btc-all-pms)/
Announcement on xrptalk.org:https://xrptalk.org/topic/4501-annxagate-offering-xag-cad-nxt-soon-btc-all-pms/
Announcement on bitcointalk.org:https://bitcointalk.org/index.php?topic=878591.0
Publicly available general journal: https://docs.google.com/document/d/1ESf ... sp=sharing
Income statements and balance sheets to be provided at year end.
2014
Outstanding Balances (Feb. 2015)
Outstanding Balances as of March 20, 2015

Xagate will use the NXT Asset Exchange to create a total of 100 tokens for 40% of the total transaction volume of xagate.com, paid the 15th of each month. Each token is released with an initial value of 15$CAD each, as per the below mentioned calculation method. Dividends will begin to be paid 4 months from the initial public offering. These tokens will be offered to the public by the Issuing Account at a time no later than Christmas 2014.
Change to Xagate Asset Terms of Service
Written on December 7, 2014, this change is effective January 7, 2015


In the case that less than 9 beta testers register before the required time, the spare shares of this asset will be offered at the fair market price of 672.75NXT each.

Here is the breakdown of the funding for the development of this projects:

The sale of shares for ~26,910 NXT for development of this project is expected from the sale of shares.

18% Web Hosting costs: 4843.8NXT
12% Utilities and Rent: 3229.2NXT
25% Research and Development: 6727.5NXT
10% NXT for loan repayment, market making, and investments: 2691NXT
22% to cover Transaction Fees (BTC/NXT) and S&H of orders: 5920.2NXT
10% held in reserve (within open buy orders, available NXT): 2691NXT
3% developer's funds for living expenses: 807.3NXT

A majority stake will be held of this asset (51%) for further revenue generation, once dividends begin to be paid in April. The Total Transaction Fees of Xagate are less the operating expenses of that month. The remainder is 40% of that amount for dividend disbursement to shareholders, whereas:

49% of shareholders receive 49% of 40% of the dividends.
Xagate receives the remaining 51% of the 40% of the dividends.

Xagate then uses this revenue in the following way to pay employees and further its development fund:

50% to further Research and Development
20% to pay Utilities and Rent
10% to pay Web hosting costs
5.5% to cover Transaction Fees (BTC/NXT) and S&H of orders
4.5% for developer's personal living expenses.

The remaining 60% of Xagate's revenue is used for market making on Ripple, to provide limited liquidity to the Xagate Asset on the SAE, and to pay further operating costs. 30% of this volume is kept as cash on hand within the respective format that asset is received in, unless necessary to convert wealth to fiat currency in order to pay taxes and other business expenses.

Contact Us

If you have any questions about this Agreement, please feel free to contact me at taylor.warden@sympatico.ca. Estimated response times will vary between 24-48 hours.

-=-=-=-=-==-=-=-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-=-


In other development news, I am actively working on the front-end. If the web site becomes unavailable an you wish to deposit/withdraw, please send me an email or a private message and I will get to you as soon as possible. I want to have things pretty looking for the soft-launch Xagate. The withdrawal limits are found above with the pricing information to come on May 25, 2015. Precious metal transactions (other than silver) will become available on May 30, 2015.
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 758
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

Re: |ANN|XAGATE| Offering XAG, XAU, XPT, XPD ,BTC, LTC, NXT,

Postby twarden » Sun May 31, 2015 2:13 pm

Regarding News post for May 31, 2015

Soft-launch of all assets: XAG, XAU, XPT, XPD, BTC, LTC, NXT, and CAD.

To reach the deposit or withdrawal page for gold, platinum, or palladium click here.

Due to some rather unfortunate news delivered to me by a friend on Friday evening, my attention towards a few details pertaining to a special "surprise" announcement for a service XAGATE wishes to offer to the Ripple community will unfortunately be delayed until later this week. This will be final by the end of the week, stay tuned for more, and my apologies for not launching this today (plus ruining the surprise factor).
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 758
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Sun Jun 07, 2015 5:52 pm

As I had mentioned in my previous News Post for May 31, 2015, there was supposed to be a surprise accompanying with the soft-launch of the Gateway's full asset catalogue.

Since then, I have completed my surprise project, it is an offering of a unique "cross-blockchain cryptocurrency," which includes value by linking the tokens to a Loyalty Program with the XAGATE Gateway project and to two different measures of value: XRP and NXT. Please read more here.

Full disclosure: I had learned, not this previous Friday but the one prior, that a great friend of mine was diagnosed with Cancer, a high-grade Sarcoma, it is the same kind that Terry Fox had contracted. I had paused my work for a few days due to the news to be able to spend some time with him and to speak with him about his condition. A small portion of the development fund for the Agates project is going to be used for the purpose of funding transportation costs to visit this colleague so I may offer support as needed.
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 758
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

Re: |ANN|XAGATE|Offering: XAG, XAU, XPT, XPD, BTC, LTC, NXT,

Postby twarden » Fri Jun 12, 2015 8:45 pm

Added information about the Agates cryptocurrency and associated Loyalty Program to the XAGATE website. Performed a huge upgrade to the server, I apologize for anyone who was attempting to access the website while these upgrades were ongoing as it may have gone offline during the past couple of days. Installed rippled and began to act as a validator. I am now downloading the full ledger history for an upcoming project. At this point, this thread has served me much more like a blog than a discussion forum, therefore I am interested in installing Wordpress onto the server for the purpose of these types of updates. I'd like to leave this thread open for discussion, which hasn't occurred in literal months.

I'd like to ask those member reading this thread to please leave a comment about these specific developments or the XAGATE Gateway project itself. Please critique any information within this thread, ask questions, or otherwise engage me about operating a Gateway business.

June 22, 2015:

Well that beefy virtual private server was not enough so XAGATE will soon have its own dedicated server. Come and check out this blog post for more and subscribe to the blog's RSS feed to ensure you're always in the loop with this project!

June 29, 2015:

The server is down for migration to a dedicated server. Please bear with me during this server migration, if you require an immediate deposit or withdrawal, please email taylor dot warden @ sympatico dot ca.
XAGATE Thread~PreciousWallet.io Thread

Don't worry! I'm pretty sure that I got this under control, the last crazy visionary was was far too insane, but I struck the correct balance.
BCT Thread

I am not affiliated with Ripple Labs.
User avatar
twarden
 
Posts: 758
Joined: Fri Jul 04, 2014 11:21 pm
Location: Ontario, Canada

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