End of an Era: LocalMonero / AgoraDesk to Close After Nearly 7 Years

Comprehensive Closure Announcement: LocalMonero and AgoraDesk

After nearly seven years of operation, LocalMonero and AgoraDesk, pivotal platforms within the Monero (XMR) community, have announced their upcoming closure. This decision reflects a "mixture of internal dynamics and external pressures" that have reshaped their operational landscape. What's that really mean, we are not sure quite yet.

Reflecting on the Journey

The team shared a heartfelt message acknowledging the community's support: "We're extremely thankful for the love and support we've received over the years. We couldn't have done it without you. We love you all ♥."

Monero's Maturing Ecosystem

Throughout its operation, LocalMonero has not only facilitated secure transactions but also witnessed and contributed to the growth of Monero’s ecosystem, which now includes several significant technological advancements:

• Haveno and Other DEXs: The introduction of Haveno and other decentralized exchanges like Serai marks a shift towards more decentralized and privacy-focused trading environments. Haveno, specifically designed for Monero, ensures users can engage in trading without compromising their privacy.
• Atomic Swaps: These are innovative on-chain protocols allowing direct wallet-to-wallet trading between different cryptocurrencies without intermediaries. This technology enhances user sovereignty over their assets and reduces reliance on centralized exchanges, which can be vulnerable to hacks and privacy breaches.
• FCMP (Full Blockchain Anonymity Set): The development of FCMP is set to replace the current ring signature system used in Monero transactions. This upgrade will substantially increase the anonymity set from rings of 16 to potentially entire blockchain levels, significantly advancing transactional privacy.
• Continuous Protocol Improvements: Monero's dedication to frequent and substantive updates has fostered a resilient and adaptable network, poised to meet the challenges of the cryptocurrency world.

Detailed Closure Timeline

The winding-down process is structured to ensure a smooth transition for users:

• Effective Immediately: Suspension of new signups and ad postings.
• May 14th, 2024: Disabling of new trades, allowing only existing trades to proceed.
• November 7th, 2024: Complete shutdown of the platform. Users must withdraw any funds from their arbitration bond wallets by this date to avoid forfeiture.

Addressing User Concerns

In response to potential user inquiries about the closure:

• Continued Trading: Existing account holders can continue to trade up until May 14th.
• Account and Fund Recovery: Full access to accounts and the ability to recover any funds will remain available until November 7th, 2024.
• Resolution of Disputes: The platform will arbitrate any ongoing disputes until the final day of operation.
• Data Deletion: Users wishing to delete their personal data can do so through the website's account settings; this functionality is not available in the mobile app.

Expressions of Gratitude

While the platforms are not accepting donations, they encourage support for the CCS (Community Crowdfunding System) initiatives, which fund various Monero improvement projects. They also invite users to leave positive feedback on review platforms like TrustPilot, which remains a valuable form of support.

Conclusion and Outlook

The closure of LocalMonero and AgoraDesk marks the end of a significant chapter in the Monero community but also highlights the robustness and maturity of the Monero ecosystem.

Key Concepts Explained

• Haveno: A Monero-focused decentralized exchange that epitomizes privacy and autonomy in cryptocurrency trading.
• Atomic Swaps: A mechanism that facilitates direct, cross-chain cryptocurrency exchanges without intermediaries, enhancing security and privacy.
• FCMP (Full Blockchain Anonymity Set): A forthcoming Monero feature designed to provide superior privacy by expanding the anonymity set to include much larger subsets of the blockchain.

It's been a pleasure and a privilege helping the community, - The LocalMonero / AgoraDesk Team.