XYO GO! Intelligent Exchange Strategy Revealed!
You asked about it. You wondered about it. You debated it like an amped-up, pre-match prizefighter in our Telegram channel and social accounts. Some of you even pulled XYO employees aside — at Spatial, and even in the street — demanding an answer to one, huge question.
When will XYO be on exchanges?!??!!!?!
It makes sense! Right now, we’re hovering between 130 and 150 on CoinMarketCap.
Well, buckle up, folks. Put your racing gloves on! Are you ready?
Because we’re frickin’ ready!
By the end of this week, if all goes as planned, you’ll be able to purchase XYO on an exchange beyond IDEX. We’re fielding agreements from 10 top exchanges (all within the top 100), and we’re rolling things out, just…about…now.
You’ve been so patient, and it probably seemed like forever. We totally recognize that.
But we wanted to do things right. We had to do things right. And that “We had to do things right” framework has a name. It is:
Intelligent Exchange Strategy (IES).
The XYO IES goes far, far beyond just choosing exchanges with great reputations and solid volume. We’re dead serious about the phrase, “everywhere I go, XY XYO”. We’re joining exchanges to make a global impact, so that people all over have access to the fuel for the XYO network and know about the astonishing location network we’re building here.
No one can explain the IES strategy better than Scott Scheper, our backward hat-wearing leader, Co-Founder, and Chief Marketing Officer. So, here’s two questions straight from the IES, answered directly from him:
“WHY is it important that XYO be listed on more exchanges in the first place?
Here’s the reason.
Actually… There’s two:
#1. Global Exposure.
The XYO Network is founded on the idea of creating a “people-powered” location network.
Being listed on exchanges (especially the overseas ones like Bithumb for instance, which is like the Binance of South Korea, actually perhaps even bigger), will get XYO into the hands of people who otherwise would have never heard of XYO. This increases the number of people that can learn about the world of Geomining and Geodapps.
The more suppliers (Geominers), the more valuable the network.
Fact of the matter is… some geographical markets are hard to access unless one partners with exchanges in that market.
#2. Price Stability.
More exchanges should create more price stability for XYO.
Let me explain.
See, if XYO was only available on one exchange, and the exchange goes offline or delists XYO, the price of XYO could be harmed. To have a healthy network ecosystem, more exchanges create a better chance of a more stable XYO price. This creates a more attractive incentive mechanism for Geominers.
These two factors are important because there are two primary uses for XYO Tokens.
First off, XYO is the “digital gas” needed for dApps and smart contracts to make requests to the real world.
Second, XYO is used to “Stake” four different XYO Network Geomining Components (Sentinels, Bridges, Archivists and Diviners). Staking provides more trust and certainty behind data. For more on this, read up on Ethereum’s FAQ Concerning Proof of Stake.
The GAMMA Stage XYO Token Sale mechanics were broken into segments of 50 Million XYO Token tranches. After each 50 million tranche of XYO was sold, the next stage carried forth with an exchange rate 2.5% higher than the previous rate.
This served as a good mechanism for the token sale in the beginning; yet, it actually created an “artificial” price ceiling as we later found out!
There were times when the price of the XYO Tokens were cheaper on the GAMMA Stage Sale Website than XYO Tokens on exchanges like IDEX. This took place even though purchasing XYO Tokens via the GAMMA Stage Sale resulted in being added to the XYO Founding HODL’er Registry (“FHR”)!
Now, with the completion of the GAMMA Stage XYO Token Sale, there will no longer a price ceiling on XYO Tokens!
The market will now determine the price of XYO Tokens. Period.”
So, how the heck did we choose these 10 exchanges? We took our time. We pored over a lot of documents. We did a ton of research. And here’s the IES-certified list of qualifications, with brief explanations for all:
Exchanges had to trade at a healthy volume. More volume = more traders. We’re taking a massive leap forward in this respect.
We’re thinking global AND local! On one hand, we chose exchanges that have a global footprint, so as many people as possible, all over the world, could trade our tokens. If we could trade intergalactically, we would. Trust us on that. On the flip side, we want to grow locally. Think about XYO on an Australian exchange. A Korean exchange. Estonian, Dutch and Swiss exchanges. Think about XYO…everywhere.
We want you to be able to buy and sell XYO using the government-backed currency from your country of origin. Euros. Yen. Rupees, Pesos and Dinars. We want you to trade using a credit card, debit card, and more. We also want you to be able to trade cryptos. For instance, you should be able to trade Bitcoin to XYO, XRP to XYO, Ethereum to XYO, and EOS to XYO. Whatever XYO combo you choose, we want to make it easy.
The price for joining exchanges can add up, significantly. We want exchanges that offer the best value and opportunity for you, as a HODLer, and for us, as a company. Fiscal responsibility matters first.
Each exchange we join has to have a good reputation. No scammy exchanges for us.
When you talked about the exchanges you liked, we listened! We’ve chosen exchanges based on what our community wants, and how each exchange can best serve our community: you.
So…Tydsberekening is alles. Wektu iku kabeh. Ajoitus on kaikki kaikessa.
Timing is everything.
There’s a reason why variations on this phrase can be heard in every language you can ever imagine, all over this planet. It’s 100% true — especially with our IES.
We’ve taken time to get here, but we wanted to put all the pieces in place first. And when timing is perfect, there’s only one thing you can do: say “Screw it, let’s do it.”