I am writing to propose that our company list our coin on a cryptocurrency exchange. Listing our coin on an exchange can help us build a greater community and drive usage activity. In this proposal, I will outline the reasons why listing on an exchange will benefit our company and coin.
Firstly, listing on an exchange will increase our visibility and reach to potential investors. When our coin is listed on a well-known exchange, it will be exposed to a wider audience. This will lead to more interest and investment flowing into our project. As a result, this will bring higher earnings for our company and ultimately drive the price of our coin up.
Secondly, many people are not familiar with using decentralized exchanges (DEX). For those unfamiliar with DEX, the process of sending funds to the wrong address can be a common mistake. This can result in the loss of funds, and we want to avoid this situation. By listing our coin on an exchange, investors will have an easier and more efficient way to purchase our coin. The process of buying ADA to transfer to a DEX, then swapping it for our coin, and reversing the process can take over an hour. However, on an exchange, this process can be completed in just a few minutes, and it is less risky.
In conclusion, listing our coin on a cryptocurrency exchange will be beneficial for our company and coin. By doing so, we can reach a wider audience and drive more activity for our project. We believe that the positive aspects of listing our coin on an exchange outweigh the negative aspects. We hope that you will consider this proposal and look forward to discussing this further with you.
I think listing on a centralized exchange would definitely be a game changer as many of the people I know in crypto don’t even know what a dex is. However given the very expensive cost the Team would have to weigh if now is the best time or perhaps after the market picks up a bit.
hey, i personally think the goal of this proposal is just pumping the price of min without considering other aspects of it
beside the high cost of listing on a cex (100k~ usd) it could derive a lot of volume/users away (to a cex) which causes less lp fee for liqudity providers, less fee for the fee switch (DAO), less revenue for batchers and less community engagement
based on these reason i think it could actually hurt the protocol instead of improving it
so I don’t think now is a good time for getting listed on cex
I don’t think the project needs speed, it needs consistency good building and solid foundations. People will learn over time, investors will come eventually if the project is good and well made. I don’t think taking away resources and volume from the dex would be beneficial to the project in the long run.
I have spoken. ( im watching way too much mandalorian )
Aren’t we trying to pave the way to being decentralized? It would just take a lot of volume to Binance if we list it there. I think a dex with high trading volume speaks a lot for itself and that we should keep that trading volume on our dex. I know right now the volume is low, but you have to admit for a bear market and on an ecosystem which literally got smart contracts last year it is pretty impressive and will continue to grow. Price will inevitably reflect the value Minswap brings if we keep decentralization at our focus. Slow and steady wins the race.
And CEX could dirve the hype to jum in to DEX but as i menshon, in first lane coin nead investors for healthy growth, this is hard on DEX you dont have that many uers on DEX. Hype its nof flowing that easy to project and oyu nead that its also healthy, all top 10 projects arre dirstlane driven on hype and high specolation.
Its all about how accesable a coin is and beeing listed only on DEX it makes the project ,less accesable.
I see many are assuming that Binance or another Cex would be taking existing trading volume away from Minswap. I am pretty sure anyone who uses MINSWAP daily/weekly will not suddenly start trading on Binance with more expensive fees and holding their assets on a riskier platform being a centralized exchange. Instead i expect
it to bring in NEW trading volume ( for $Min) from boomers and others less likely to understand or have dealings with self custody wallets/Dexes. Futhermore, It would allow crypto folk who aren’t all too familiar with Cardano an easy entry point into the leading Dex on Cardano’s token that they may have been a bit too intimidated about buying due to the need to acquire new wallets/seedphrases etc in order to tap into the Cardano ecosystem.
Furthermore Minswap is the leading Dex now, but I’d hate for a competitor to beat $min to a Cex listing which has several benefits:
Makes it easier to buy the token for those not deep in the crypto space
Increases the popularity of the $Min token
Adds additional trading volume for the $Min token
I don’t see it taking away any volume from Minswap as I dont see why anyone who is already trading on Minswap with cheaper fees and more options ( lp/farming etc) will switch.
I only anticipate new volume for the token from those who dont touch dexes and otherwise wouldn’t buy the token.