SEED listing on TRON DEX
Potential delisting of the token
In the past few weeks, the Sesameseed community has enjoyed the first listing of SEED token on an Decentralized Exchange, the Tronscan DEX.
We have been in contact with the TRON team regarding the SEED token listing on this Bancor-style exchange. Based on feedback gathered from the TRON community, TRON has announced new liquidity and listing requirements for pairings to be listed on Tronscan.
As has been discussed in our Telegram channels, no Sesameseed funds were used to provide the required liquidity pool in the current TRX/SEED listing pair. The current pairing on the DEX was funded by the Sesameseed team using personal funds, in the interest of allowing our community access to another option to trade SEED. The recently released listing and liquidity requirements for the DEX will require an amount of TRX and SEED not available through that current funding method.
Sesameseed has a unique token model which has allowed us to provide the community a SEED token with great utility. Part of that model requires every SEED in circulation to be backed 1:1 with TRX. Locking up the amount of TRX and SEED tokens required to list a TRX/SEED pairing on the DEX is not consistent with Sesameseed’s model. One of the primary considerations would be any TRX locked in this pairing would not be eligible to vote causing the number of votes per SEED to decrease, reducing the voting rewards per SEED to our community. This is one of several reasons why Sesameseed has decided not to provide TRX and SEED to maintain the TRX/SEED pairing on the Tronscan DEX. Our expectation is that as a result of this decision, the TRON DEX will likely remove the current TRX/SEED pairing. We do not know when this may happen.
It is important to remember the TRON ecosystem is just getting started and evolution is not only to be expected, but it is healthy. We support TRON in their effort to make the TRON DEX the best project it can be.
All other available trading methods for SEED should not be affected by this event.
Lastly, it is important to note that the Tronscan DEX utilizes the network layer of the Bancor listing. This same listing can be referenced by any other exchange that utilizes this network layer, as several exchanges do today, these would be unaffected by any decisions made by Tronscan.
We appreciate your support and understanding.
The Sesameseed Team
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