XinFin’s Exchange Listing Experience.
XinFin would like to share the experiences of exchange listing.
We would like to share our review of the experiences we had in these exchanges:
Liquid.com
The XinFin team was very keen to get listed on some regulated exchange, in order to get Fiat currency pair with XDCe but after a bit of research we found the below-mentioned facts:
- Liquid has two separate entities in Singapore as well as in Japan. They require Listing Fees which we almost agreed to but we were further asked to pay an additional fee of an equal amount, to create a pair against JPY. This entity, JPY lies under a separate entity called ”Quoine Corp” and it pairs and hosts major volumes on Liquid. For enlisting your token with JPY pair, it is mandatory to get approval from Japanese Regulators- JFSA/JVCEA. The regulatory firm is not approving any new token for the next one year but as per information provided by a local law firm, the regulators are planning to open the doors for additional tokens the latest by the end of next year.
Other facts:
- Singapore based DBS Bank closed Liquid bank account, post which, they have started banking from offshore bank ac.
- The bank account for deposits at Liquid lies in Poland while the withdrawal bank is separate.
- New USA based customers can not trade with Liquid or open accounts with Liquid.
Looking at the above scenario, XinFin decided not to pursue exchange listing at Liquid.com until their banking relationships with major banks are in place and they Provide Access to US-based Customers.
When should you go for Binance Listing?
Most of the community members are keen to know “When they should go for Binance Listing?”
Take a look at this Tweet:
https://twitter.com/jaredctate/status/1175069765947314176?s=20
The post clearly says Listing fees is $300,000 and 3% of token supply.
After Listing with Binance price trend tends to go down like ANKR. Similar problems were seen with few other tokens as well like WINk (WIN), Perlin, Hedera hashgraph, etc
After considering such an example, XinFin concluded that to wait and watch for the time being would be the best strategy for now. This would also help protect the interests of the community.
Solution:
After experiencing various exchanges and having a thorough discussion with the community members, we came up with the following solution:
Listing with Singapore based Homiex Exchange :
They have an office in Singapore as well as in China and are also well known in this region. They have an established institutional clientele and have healthy relationships with banks in Singapore They are also well as connected to the APAC region. Homiex also provides Fiat liquidity gateway through SGD and CNY deposits.
Folgory.com
Another Estonia based exchange offer XinFin’s XDCe to list with their exchange without any listing fees. They provide an option to buy and sell from the fiat bank account or credit card. They also have IBAN support in Europe. More details at http://folgory.com
Credit for this Exchange listing also goes to strong XinFin community voice.
Additional Exchange Listing:
One more Singapore based exchange backed by a regulator extended support to List XinFin’s XDCe without any listing fee. We will be updating you over social media about that as soon as we go live on that.
How we are planning to Improve liquidity?
Carl Jung:
“Who looks outside, dreams: who looks inside, awakes”
Buddha:
“When things change inside you, things change around you”
Rumi:
“The universe is not outside of you. Look inside yourself; everything that you want, you already are.”
Taking a cue from Carla Jung and Buddha, we have decided to take a look inside and here is what we going to do to improve liquidity in various exchanges :
- Get Listed with Singapore based Homiex.com Exchange as they have agreed to provide XDC with the liquidity against SGD / CNY deposit for all customers of XinFin. Considering that this is the fastest-growing exchange with a highly dynamic team, listing dates will be announced soon on social media.
- P2PB2B Exchange extended support with XDCe: USD Pair at https://p2pb2b.io/trade/XDCE_USD
- Getting Listed with Folgory.com Estonia based Regulated exchange with a fiat gateway and IBAN facility support.
- ABCC Exchange is already providing support to Purchase Crypto using credit/debit card at https://help.abcc.com/hc/en-us/articles/360020852071-How-to-buy-cryptos-with-a-credit-card-on-ABCC-
- Alphaex.net Exchange has already added liquidity against the pair XRP: XDC shall also get the access to XRP community for grading XDCs. You can check liquidity depth at https://www.alphaex.net/pro/trade/XDC-XDCE Alphaex will be adding many other pairs for liquidity once stability with at least one pair is achieved.
- Adding more Liquidity Support with XDCe: USDT, XDCe: BTC pair with exchanges like LATOKEN, P2PB2B, COSS, in order to achieve deeper liquidity for buying/selling XDCe. This mechanism will be added in the coming weeks itself.
Priority in the roadmap :
- XinFin has always aimed at institutional use cases. Our priority is to work with exchanges that are preferred by institutions and banks as it creates security assurance.
- Onboarding market makers, who can facilitate good liquidity at the current price to support
- Institutional master nodes purchase
- Payment of XDC utility fees
- Facilitating XDC as a utility settlement coin
- Liquidity at CMC price with strong buy walls and sell walls around the price to help institutional players buy large quantities of XDC for utility usage
We are always keen to get our token listed on popular and beneficial exchanges to forge long term partnerships
Please feel free to share your feedback and questions. Thank you all for strong community support and we hope to make the difference we aspire for.
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XinFin Hybrid Blockchain More information at www.xinfin.org
