Gulden on Bitvavo, is that possible?

Introduction

An action has been launched to get Gulden listed on Bitvavo. see https://bitvavo.guldenkickstart.com/
Until now, Bitvavo has sent Gulden owners who requested it a standard note saying that they would consider it but that it was not certain that it would happen.
At other exchanges you can “buy” a listing. You put enough money on the table and they are then inclined to include the coin in their exchange.

Types of exchanges

Four types of exchanges can be distinguished.

Type 1 are the big exchanges like Kraken, Coinbase, Bitstamp, Binance etc. Exchanges on which every coin wants to be seen. They easily charge several tons of Euros for a listing, just because they can.
An amount that Gulden can never raise and is only reserved for the (former) ICO coins where a large part of the coins is never sold but still worth money and is in the hands of the Founders who have a bag of money and can therefore spend for a listing.

Type 2 are the exchanges that rely on listings. Their earnings model is based not only on transaction fees, but also on new listings. They realize a listing from €5000,- and up. Also you can put an extra amount on the table for marketmaking. They are clearly the lesser Gods in the field of Exchanges. Typically, these are the exchanges with the fake volumes due to market-making.

Type 3 are the exchanges that want to include only certain coins from a moralistic point of view. This is, for example, that Freiexchange that has also included Gulden because it is an “old”, decentralized cryptocurrency that in their eyes deserves to be included. Unfortunately, these are small exchanges with low volumes.

Type 4 are the exchanges that are serious but don’t want to take on every coin right away, nor do they exhibit fake volume. When listing they can ask for a listing fee or decide to do it for free (probably only the bigger coins). In this category is Bitvavo. They only accept a coin that is viable and can also be a certain source of income for the exchange. After all, exchanges like this also need to be able to smoke the chimney.

I did a little research to see if Gulden has a chance of being listed on Bitvavo by comparing it to coins that are already listed there.

Research

Bitvavo has now listed about 50 coins. Of these, more than half are Tokens on an ERC20 blockchain like Ethereum. For these types of listings, an exchange does not need to do anything except include the coin in the user interface, of course.
The other listings consist of coins with their own blockchain. To list such a coin, some more work needs to be done. The exchange needs to run a server on which the coin’s blockchain is running. In addition, the maintenance of a coin is significantly more difficult than for a Token. Each update in the “wallet” software of the coin must also be implemented by the exchange so the blockchain of the coin for the customers continues to run and they can deposit and withdraw the coin from the exchange. To take Gulden as an example. In the past year Bittrex had to update the Gulden wallet 4 times. Typically, the exchange then goes into “maintenance”.

With the foregoing in mind, it was decided to therefore focus this research on coins with their own blockchain in order to be comparable to a possible Gulden listing.
In addition, it is illogical to compare Gulden with the “big” coins like Bitcoin and Litecoin etc. I have therefore compared Gulden with the coins that show low trading volume on Bitvavo.

Implementation

I have determined for all chosen coins what the turnover and opening price has been on each day in the month of April 2021 on Bitvavo’s exchange. So per coin 30 day turnover and prices. Then I calculated the daily turnover in Euro, determined the daily average and calculated the transaction fee.
There is a fee for each transaction on Bitvavo. The amount of the fee depends on how much a trader turns in monthly sales according to the table below.

For the average Gulden buyer/seller, that trading volume per month will not be that high with his only buying and sporadic selling. Real traders however will soon reach the lower table regions. That is why my calculation is based on an average taker fee of 0.1% and maker fee of 0.04%. In itself, the amount does not matter for the comparison I am making but it does give some insight into how much Bitvavo earns from a listing.

Of course, I also included Gulden’s figures and that gives the following overview.

We see that Gulden is not very out of the picture. We are at the bottom of the market but there are worse performing currencies.
It should be noted that the mentioned turnover of Gulden will soon have to be shared with Bittrex but my expectation is that 80% of the trading volume will move to Bitvavo at the expense of Bittrex of course. To perform better in the list of coins we actually do need to create more volume but that is what the whole Bitvavo listing was started for of course.