Tixl Binance DEX Proposal

Sebastian Gronewold
Jun 22 · 3 min read

✨️ If you are a Tixl investor or an airdrop participant, please read this article to the end, we need your help in the process of a potential exchange listing.

Over the past weeks, we thought a lot about which exchange we want to target for our IEO. After putting some research into existing IEOs, it became clear for us, that we only wanted to go with an exchange of the Data Accountability & Transparency Alliance. So we talked to different exchanges regarding the possibility of an IEO.

Finally, we made a key decision for Tixl. We are going to propose for a listing on Binance DEX. Binance DEX is the decentralized exchange of Binance. The domain of Binance DEX is binance.org whereas the domain of the centralized exchange is binance.com. In case Binance DEX accepts the Tixl listing proposal, this would be a huge step forward for the project. Tixl would be tradable on a top exchange with increasing transaction volume much earlier than expected. Another great part is that, due to the fact that Binance DEX is decentralized, users will not even need to signup on an exchange but instead can create a Binance Chain wallet and start trading right on.

Last but not least, since Tixl is a privacy-focused cryptocurrency, listing the token on a DEX fits the nature of Tixl.

We need your help

You can find the Binance listing proposal here. Please sign up on the Binance community and vote for us. Also, it might help if you provide a comment about why it would be good to have Tixl on Binance DEX. You will find the upvote button at the bottom right of the forum post.

The outcome of a successful Binance DEX proposal

We would switch from Stellar to Binance Chain. That means, as an investor in Tixl, or as an airdrop participant, you would have to create a Binance Chain wallet. Creating a Binance Chain wallet is completely free. In case you already set up a Stellar wallet and established the trustline with the Tixl issuer account, this effort would be for nothing. However, it is possible to remove an existing trustline, so that your 0.5 XLM will be exempted. Nevertheless, you would have to invest some extra time to create the Binance Chain wallet.

That is why, in case Binance DEX accepts the Tixl listing proposal, we would give investors who invested before the release of this article a 10% MTXLT bonus as an excuse for their efforts. In case Binance DEX does not accept the Tixl token, we will stay on the Stellar platform and apply for other exchanges.

In addition to the platform change, we would switch from an IEO (Initial Exchange Offering) to an IDO (Initial Dex Offering). So you may ask yourself how will that work? The procedure would be as follows:

  1. Switch of the second Pre-IEO phase to an IDO.
  2. Announcement of a timeframe for participating in the IDO depending on the potential listing date.
  3. People who want to participate in the IDO must sign up on the Tixl website, add their Binance wallet address and complete a KYC check. Only users with a Tixl account who have passed the KYC check will be allowed to participate.
  4. Instead of opening sell positions on Binance DEX within the IDO timeframe, we will simply accept BNB send transactions from those people who passed the KYC and entered their Binance wallet address. So it’s not an IDO in terms of the token being really sold on the exchange but instead, tokens are only sent back and forth on Binance chain. Unfortunately, this is the only way to do proper KYC whitelisting.
  5. As soon as the ICO timeframe ends (will only be a few days) or as soon as it’s sold out, we will send out MTXLT to the users who participated. So even though tokens are not sold via sell positions, it still matches our definition of an IDO.
  6. Tokens will be tradable immediately afterward.
  7. The original IEO phase (planned as phase 3) will switch to a private sale phase where strategic investors can buy larget amounts of tokens with lockup periods.

Thanks for your support, let’s get this done together!

tixlcurrency

Tixl is tomorrow’s cryptocurrency.  —  https://www.tixl.me

Sebastian Gronewold

Written by

Co-Founder & Managing Partner @Tixl @elbstack

tixlcurrency

Tixl is tomorrow’s cryptocurrency.  —  https://www.tixl.me

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