BUIP186: Mid-Tier Exchange Listing Fee
submitted by Singularity
date 28 Dec 2022
For Nexa to be correctly perceived as a legitimate cryptocurrency, it is important that it is available to trade on an exchange that also has a reasonable level of legitimacy and trust. Many investors will be put off from getting involved in the cryptocurrency if they cannot access from an exchange that they trust.
Having Nexa on a mid-tier exchange will also expose Nexa to many more people than it currently is, especially if that exchange is also tracked on Coinmarketcap.com.
Over time, a larger exchange will also bring more volume to trading of Nexa allowing the price to become less volatile. It will also allow larger investors to enter Nexa without moving the market too much, thereby encouraging their participation.
The objective of this BUIP is to provide funding to pay the exchange listing fee of a mid-tier exchange. If a market maker is required for listing (as if often the case for new exchange listings of smaller cryptocurrencies), this cost will be crowdfunded separately from the Nexa community.
A marketing campaign can be organised around the listing to maximise its impact, but the details of this are outside the scope of this proposal.
The exchange listing should happen in Q1 2023 after the Nexa Growth Plan has been funded and started.
Budget of a maximum of $50,000 to go entirely towards the exchange listing fee.
The elected BU officials: President, Secretary and Developer will jointly agree to this expenditure to make sure the exchange agreed upon is of a sufficient quality.
- A more mature market for Nexa trades.
- More exposure of Nexa to investors, users and businesses.
- Ability to purchase Nexa from a more established and less risky exchange.
- Nexa will have a higher perceived legitimacy as a cryptocurrency.