Globe’s First Council of HODLers Recap — What’s new, What’s cooking, and more!
Hello Globe Community,
We’ve hosted our first Council of HODLers past weekend! The purpose of this event is to present the progress and development happening at Globe, especially to connect with our community and create a two-way communication channel for feedback and Q&A. Thanks to everyone who showed up, for those curious you can watch the replay here.
COUNCIL of HODLers Recap
- What’s new on globe
- What’s cooking
- How you can help the community
What’s New on Globe
James went over our recent major milestones from Globe — starting with the Network launch, which officially happened on June 2nd, 1pm UTC.
Additional milestones and news covered:
- Private tranche opens July 2nd 1pm UTC — streams daily for 60 days
- Strategic: September 2nd 1pm UTC — streams for 90 days
- Seed: December 2nd 1pm UTC — streams for 90 days
- $DOGE perpetual
- IEO platform: $GDT, more to come!
- Leaderboards: trading competition — will become a regular thing
- PnL bragging (needs to be more fun!)
- Flash effects can be turned off!
- Toggle orderbook on the price chart
- You can now disable 2FA
- Turkish translations
- Exit your position via limit order
- Cloud API performance: reduced from 60ms in presale to 25ms now
- Ichibot integration
- CCXT Pro
- Tighter spreads: getting 1-tick ($0.50) more frequetly, actively working with existing market makers on this
- Spot trading: going into testing tonight, initially with the $GDT/$USDT pair
- Staking: will announce this month, go live early next month
- Token transparency page updates, first token burns
- GDT Ethereum <-> Binance Smart Chain bridge
- USDT and USDC deposits & custody
- Post-only limit orders
- API: reduce only orders
- Globe | Gems: new product part of wealth management suite, will give you access to great deals— IEO launchpad and OTC transaction platform. More reason to buy $GDT!
- More listings: We’ll announce closer to the time, but there’s a solid pipeline coming including more top tier venues, surprise listing that a community member asked for! The recent regulatory changes in China have slowed things a bit with some of the Chinese exchanges, but not all
- Behind the scenes: the engineering team is doubling, will include top talent from Google, Goldman Sachs, leading hedge funds, etc.
How you can help
- YouTube how to trade videos: these are really crucial to teaching people how to trade on a new exchange and grow its volume organically — recommend Youtubers to us — contact us for a guide & coordinate filming and announcements!
- Twitter memes: we’re looking for superstar meme creators, applications are open!
- Jobs: react developer who loves trading, rust/C++ programmer with low latency experience, FAANG, etc.
- If you haven’t tried the exchange, please give it a go and send us your feedback. We listen and tend to ship things same day
- Also, the team read the community group and we have a good laugh over some of the excellent posts in there, keep it up!
From Ben (not sure if this is a question): “Yo James I have 200k GDT, need stake somewhere, b4 I spend them at stripclub. 🙏 thank you me lord.”
Strip Club payment services aren’t currently on our roadmap, but we’ll consider it if we see enough community interest. Meanwhile staking on globe will be announced this month and arrive early next month (July)
From Tiger B: “What your plans in place for global expansion, are Globe focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?”
- The community is already very global: we have a lot from Russia, Central Europe, Turkey, SE Asia, China, Japan, Korea and Australia
- Right now the recent trouble in China — with e.g. huobi having to reduce to 5x leverage for Chinese customers has meant we’ve seen a burst of interest from there
- We tend to move focus as we see the opportunities and needs change, which tends to be very rapid in crypto!
- For the time being, there are lots of important things for us to do to better serve the existing userbase and get a lot more of the businesses involved with the token or equity engaged and trading on the platform
From Axel: “Trading volume and liquidity for GDT is, unfortunately, pretty low. Will there be any liquidity mining incentives? Otherwise token holders won’t provide liquidity at the beginning until there is sufficient trading going on”
- We’re looking at ways to improve liquidity on $GDT
- Adding great reasons to buy it like the gems products is top of the list
- There are also more listings coming which introduces the project to a larger audience and often increases liquidity via trading competitions
- Liquidity mining incentives make sense and synergies with a surprise announcement we have coming up
From Partizant (via picture): 1. When moon, 2. When token unlock 3. When USDT deposits 4. When AMA 5. When volume 6. When exchange launch
- 1. Give it time, the market overall is down a bit now, so it’s a great time to build, moon will come later
- 2. Network launch was 2nd June 2021 1pm UTC, private tranche starts to unlock 1 month later on 2nd July 2021 1pm UTC and streams daily 1/60th for 60 days. Please see our token transparency page for more
- 3. Next month for USDT/USDC deposits
- 4. Now
- 5. It helps to think about the volume exponentially, as you might do with bitcoin price. It often takes several months to get to the first $1m in BTCUSD volume (see FTX, bybit, etc.), then another few months to $10m, and again for $100m and $1bn. We’ll get there, but it’s a process of continuously improving the exchange itself. For now we’re tracking a similar growth curve to FTX in its early days (2 weeks post network launch they did $15k / day if I remember correctly)
- 6. June 2nd 2021, 1pm UTC: it is launched
From Lord Crypto: “When will you contact winners of the launch comp?”
- This weekend, the marketing team will reach out — we’ll drop a tweet also and update the main exchange page shortly
From SIO: 7 questions
1. How do u intend to capture your market share especially onboarding high volume institutional traders
2. The 3 arrows capital and Republic partnership. We can’t seem to see their effect on the platform. What exactly is their role as strategic investors
3. What happened to the 25market makers. Volume is still very low.
4. Is it possible for these VC to put out articles why these VC invested in globe?
5. Why dont you or any member of your team interact often in the group.
6. What are your marketing plans?
Why is there no white paper till now. The twitter engagement is also very poor. What strategies does the marketing team have to upgrade exposure on twitter. If you type GDT, globedx isnt among the top three suggestions.
7. Updates on coinmarketcap, coingecko and blockfolio have been pending for so long. Data is either wrong or non existent. The response from the CM is the Team is been working on it. But this has gone on for too long
- Lots of questions!
- 1. High volume institutional players: first you’ll see that many are partners or investors. Everyone has been hurt in the futures markets last few weeks, they are working on it. Beyond the public ones, we’re building out flow integrations with order routing platforms
- 2. Republic: so first of all they were there to advise sale strategy and to engage their users around the project. Now we’re working on other commercial partnerships, e.g. globe offering deals on tokens that republic advise, and integrating the platforms. 3AC: see (1) — they are a big volatility player
- 3. We’re a few in now, for the time being it’s important we tighten the spreads and improve time in market for those currently quoting and use that to start getting more on the platform to deepen liquidity further
- 4. Pantera already have, as have some of the more recent ones. We’re looking at how best to leverage the others esp. Y Combinator, Draper, etc.
- 5. How often would you like? The engineering team post in the group daily, the CMO Kinsa monitors every day and coordinates with the CM team and Shaun and I drop in a few times per week to answer questions and coordinate
- 6. So firstly we’re digesting and implementing the early feedback on futures trading. We’ll get that right, build up volumes from partners and businesses, then extend out from there via more “how to trade” educational stuff. Futures trading market is not in a great place — Huobi reduced to 5x yesterday, May 19th liquidation, etc. — will heal slowly over 3–4 months; we’re continuing to ship new products that make sense in light of this — spot trading, gem deals, etc.
- Whitepaper: we didn’t expect too much demand for one — there were some slides, which we’ll turn into a whitepaper sooner or later alongside digesting the early feedback on the exchange
- Twitter engagement: so high level we had better engagement than Bitmex, Binance, and Bybit recently according to the metrics sides. The last two weeks we’ve been far too quiet though and this AMA is a part of that process.
Thank you everyone who joined us at the event, sign up here to join us for the next Council of HODLers!
The Globe’s fairest & fastest crypto exchange built by Y Combinator alumni. Trade BTC, ETH, and DeFi Tokens with more leverage via perpetual futures contracts.
Sign up now and trade with testnet bitcoin at: globedx.com
Join our community channels: