Decentralized markets (apply for the necessary licenses in advance; The first batch of security tokens backed by stocks, bonds and funds will be listed after obtaining the necessary licenses; Auction, governance, and voting engine integration; Security tokenization engine integration)

Preparation for the extension of securities tokens (apply for the necessary licenses in advance the first batch of securities tokens to be listed backed by stocks, bonds and funds upon obtaining the necessary licenses)

Launch of digital Asset exchange (enable trading of top 3 cryptocurrencies; Integrated credit card purchase function; Integrate 4 legal currencies: CHF, EURO, USD, GBP; VALOR's listing on four exchanges; Added other cryptocurrencies and advanced trading vision)

Launch of SMART VALOR platform (cryptocurrency exchange (Liechtenstein); Integrated hosting, KYC solution, payment gateway, wallet; Execute VALOR token sales on the platform; Exchanges open for test users and early access programs)

Operational preparation (complete the development of core switching components; Submit and obtain financial intermediary status (Switzerland); The first institutional investor; Preparations for statutory exchange registration of cryptocurrencies (Liechtenstein); Hosting relationship with Ledger; Opened a new office in Munich, Germany)

Foundation (selected by Thomson Reuters as an incubator; A prototype exchange fully available on a private chain; Established the Cryptocurrency Summit -- the largest conference in Switzerland; Core team established)