Guys, i watched the DevCon and was shocked in disbelief when you said you refused to get listed on big exchanges because they charged a measly $200k
SERIOUSLY? That’s an absurd decision to refuse, from both a marketing and economic perspective.
Every other project that knows marketing well would know to pay the fee to get listed, but since the marketing decisions of the team have been terrible so far, let me take the time to explain.
So, from a marketing perspective, ALL the active crypto community is centred around centralised exchanges, as decentralised exchanges would probably take a long while to become popular, so, basically, getting listed on the exchanges is the same as getting listed on coinmarketcap.com(which is ranked the top 1000 site in the world now BTW). After listing, long term speaking, you get heaps of free ongoing attention and traffic, especially with price movements, once the price moves up, much more people will suss out this ‘maid/btc’ thing and get to know/join the community! And the exchanges have so many people trading on it, so this will accelerate community growth by significant amounts!
From an economic perspective, every coin that gets listed on exchanges experience at least, a temporary increase in price. Which usually also results in a permanent price shift and a higher price bottom, especially if the project is good. Just look at all the other projects and their price movements, seriously. Monaco was the recent example, from $7 to $15 right after Bithumb listing. Now, the team at Monaco obviously holds the tokens too, at least 20% of the tokens, so $20 million in value(as their market cap prior was 100 million), so the listing more than doubled it, that’s more than $20 million made from a $200k expense, 10000% ROI! Tron was also similar, 50% increase in 24 hours due to exchange listing, team already holds billions worth of Tron from good marketing last year, the project doesn’t even have any decent tech to be honest(tho now they’re starting to ramp up), So anyway, if they held $1 billion worth of Tron which they do, 50% increase makes their value = + $500 million, for a $200k investment. 250000% ROI.
This is not a joke guys, please know how the current markets are working, the exchanges are undercharging for listing to be honest to get themselves listing more tokens while making a fair profit, but from an economical prospective of these projects, if they know how to monetise the listing, such as holding a % of tokens at the start or just simply buying your own tokens, and then pay for a listing, the profits are WAYYYY more than $200k in 99% of the cases. Now, from what I know, the team has some Maidsafe token holdings, though, not as much as 30-50% like newer crypto projects, but I believe it’s DEFINITELY worth the money to get listed immediately on all the big exchanges(As well as a ERC-20 token transformation which should go side by side with the big exchange listings), I can suggest ways to help the team monetise, one simple suggestion is you simply need to buy up some tokens if you don’t already hold enough, to make the cost of listing on exchanges actually cost neutral, or rather, in 99% of cases with other projects, you actually get back much more than you spend. Can’t you see? The exchanges are charging this because they well know that on their platform, the traders are going to spend much more than $200k buying the new listed token/coin, otherwise, it’ll be absurd for them to charge the amount, and we would be absurd to agree to pay the amount. But that’s not the case! Right now the situation is vice-versa.
People are focusing on the the $200k upfront, analogous to focusing on the half empty glass(and to be frank, it’s more like 5% empty, $200k is really… nothing compared to what you’d get in return, and thats an understatement) Please start focusing on the 95% of benefits you’d get from being listed on exchanges such as Binance, Bithumb among others, and if they want you to pay to get listed, pay to get listed. You only have to do so for a few big ones(1-2) big ones, smaller exchanges will follow suit as the project becomes more popular and has significant trading volume, they’ll likely be proactively listing it for free, but we need to take initiative to make the project more popular first, get the snowball rolling and others will jump in.
- sorry for that