Community Approval for Tier-2 CEX Listings

Proposal: Community Approval for Tier-2 CEX Listings Proposal ID: #28 Proposed by: Argon / Community Member Date: Feb 3, 2024 @ 09:00 am UTC

Summary: Community approval is required for new exchange listings. Tier 1 exchanges demand stronger statistics for listings and charge higher listing fees. In this context, directing the listing strategy to Tier 2 exchanges depends on the community's decision.

Details:

1- Since the early days of Hydranet, many community members have requested new exchange listings. Listings are seen as an important factor for the growth of the project.

2- The Hydranet Team contacted many CEXs and started the negotiation processes. Since September, we have learned the demands and offers of CEXs and answered their questions.

3- During the negotiations, we witnessed that the conditions and listing prices of Top CEXs were high.

Listing prices for Top CEXs range from $80,000 to $160,000 based on bids so far.

4- The data examined by CEXs are as follows: “daily volume, social media engagement, listed exchanges, website traffic, the number of token holders, and on-chain transaction activity.”

5- Some Tier 1 exchanges still consider the above-mentioned data insufficient. That's why they don't approve it for now. They may re-evaluate listing requests in later stages.

6- We may choose to list on Tier-2 and Tier-3 CEXs rather than Tier-1 CEXs. In this regard, we received concrete offers from many CEXs. They will define 0 fee for our Market Maker account. They will also offer standard marketing services.

7- These CEXs are in line with the current size of the Hydranet project. And it can enable more volume to be created. It can then be negotiated more easily with Tier-1 exchanges.

8- There are too many projects in the crypto ecosystem and therefore CEXs move slowly when evaluating listing requests. As a result, the reassessment process for Tier-1 CEXs will take longer. The community should take this into consideration.

Advantages: A- It will increase the overall volume for HDN.

B- Being listed on more exchanges may positively affect new users' perception of the project and the evaluation process of other CEXs.

C- Relevant exchanges will support the listing news with their official accounts and standard promotions. Although it is relative, it can contribute to the awareness of Hydranet and HDN token.

Disadvantages: A- The budget allocated to Tier-2 exchanges may have a negative impact on the budget allocated for marketing. As a result, all expenses are covered by the treasury and the community.

B- Multiple listings will increase the workforce for POL (Liquidity) management.

C- Configuring Market Maker bots means an additional workload for developers.

Conclusion: There are at least 5 exchanges that have been pre-approved. Listings can be made on 3 of the Tier-2 exchanges in February 2024. These listings may be increased in the next months, depending on needs, possibilities and community opinions.

Listing fee for 3 exchanges:

= 50K USDT + 10K worth of HDN

Total stable coins in Treasury:

$104,972

Options: The community has the following options: 1- Approve Tier-2 listings and re-negotiate with Tier-1s in the future. 2- Reject Tier-2 listings. Only work towards listing on Tier-1 exchanges 3- Reject all listings in the short-term

Voting Period: The voting will commence on February 3rd, 2024, at 09:00 am UTC and will end on February 6th, 2024, at 09:00 am UTC