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RE: Witness Bounty - We Now Have an Equivalent Whale Vote!

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Witness Bounty - We Now Have an Equivalent Whale Vote!

socky (72) in witness • 6 years ago

bitcoin, litecoin, EOS, Tron, should not be on that exchange then

6 years ago by socky (72)

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fbslo (70) · 6 years ago

I was wrong, KuCoin can list coins.

Speaking directly with the decision maker of your team is required, this will be considered as part of the project review. A minimum of 3 contacts at the executive level must be included in your application.

Many exchanges including KuCoin wants to talk only to CEO or other "decision makers" in coin's team. Since it's hard to contact Steemit's team, I decided that it's easier to create pegged ERC20 token where I'm also "decision maker".

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socky (72) · 6 years ago

If this challenge was easy, someone would have accomplished it by now. I am fully aware of how difficult it is. As I recall, the challenge was to get STEEM or SBD listed on a major exchange. Creating your own token and getting that listed on an exchange was not the challenge. I understand that you are trying to get around the technicalities with the exchange, but what you are creating is something that only a few people would use. In general, it would not improve STEEM visibility, trading volume, price, accessibility, or availability.

I would give you my vote for doing this, but I can’t justify telling the community you were successful at getting STEEM listed on a major exchange when you instead got your token listed.

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fbslo (70) · 6 years ago (edited)

I understand.

Problem it that most exchanges wants listing fees that can be up to tens of thousands dollars. 1,000 MV witness vote would give up to 5 SP per week more to low ran witness, so it's not worth to spend 10,000$ to list STEEM for only 1GV vote. Even top 20 witnesses get only $2k per month now.

Creating your own token and getting that listed on an exchange was not the challenge.

The problem is that many exchanges don't list coins, only ERC20 tokens, so it's impossible to list STEEM. They are mostly smaller exchanges, but even if they have only 100k users each, it's something. I know it's not the same as STEEM.

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socky (72) · 6 years ago

Why don’t you talk with Ned? As a witness, you can be one of the three executives that communicate with the exchange.

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fbslo (70) · 6 years ago

I already filled one listing form at some smaller exchange, I'm waiting for their reply.

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socky (72) · 6 years ago

By the way the low returns as a witness is due in part by price of STEEM. It would be a different story if the price of STEEM were $10 or $20. There is more value in participating than just the witness votes.

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