Summary of the Proposal: This proposal aims to set up a dedicated market maker for BIM Finance to reduce protocol-related expenses and facilitate token listing on centralized exchanges (CEX). Currently, BIM Finance incurs $700 per month (for only 2 platforms) in fees for external market makers to meet CEX listing requirements. The introduction of an in-house market maker will eliminate this cost, potentially increasing protocol revenues and streamlining the listing of BIM tokens on the various centralized exchanges. In addition, the market maker will be marketed as a service for other cryptographic projects seeking to comply with CEX listing requirements through monthly subscriptions.
Context: In today's crypto landscape, market makers play a crucial role in meeting CEX listing criteria, which often necessitates significant expenses. By establishing our own market maker, BIM Finance aims to enhance operational efficiency, reduce costs, and broaden the accessibility of BIM token listings on diverse CEXs.
Proposal Details: The proposal suggests developing an in-house market maker under the brand name "MMDynamix", "DynamixMaker" or "mmliquid". This market maker will operate to eliminate the current $700 monthly expense and generate additional revenues through subscription services offered to other crypto projects.
Voting Options: -Yes, approve the development of the BIM Finance market maker : Name MMDynamix. -Yes, approve the development of the BIM Finance market maker : Name dynamixmaker. -Yes, approve the development of the BIM Finance market maker : Name mmliquid. -No, do not approve the development of the BIM Finance market maker.
Voting Process: BIM token holders are invited to vote for one of four options. The vote will determine BIM Finance's development strategy and the name of the market maker.
Voting Instructions:
Voting Period: Voting will begin on [11/07/2024] and conclude on [14/07/2024]
We encourage every member of the BIM Protocol community to participate in this crucial vote. Your voice will guide the future of our platform and strengthen our position in the blockchain ecosystem.