As the leader of Onyx Protocol, I have always believed in the power of collective decision-making and ensuring the best for our community and the broader ecosystem. Over the months, our community has grown, and with growth comes new opportunities and challenges.
One such opportunity before us is to broaden our horizons by ensuring that XCN, our native token, is readily available for trading, promoting its adoption and strengthening its position in the crypto world.
With that said, after careful consideration and in-depth research into crypto exchanges and their liquidity requirements, I propose the allocation of 600 million XCN to provide liquidity to various exchanges. This will not only meet the exchanges’ stringent requirements but also ensure a seamless trading experience for our XCN traders. Also, a part of this reserve will cover new XCN listing expenses.
Here are my thoughts:
Increased Exposure: Enhancing liquidity can pave the way for XCN to be listed on more exchanges, increasing its visibility and acceptance amongst the crypto community.
Enhanced Liquidity: By allocating the XCN, we can guarantee a fluid and efficient trading experience, reducing the risk of price volatility.
Trust and Credibility: Meeting exchange requirements and ensuring a smooth trading experience fosters trust among traders, potentially increasing our user base and solidifying our position in the market.
Potential Price Stability: Increased liquidity often translates to more stability in token prices, benefitting the overall health of XCN.
This initiative is not solely about increasing our market presence but also about showcasing our commitment to our traders and the broader crypto community.
I am eager to hear your thoughts, feedback, and any concerns you may have regarding this proposal. Remember, every milestone we’ve achieved has been a result of our collaborative spirit, and I am confident that together, we can make XCN a beacon in the world of cryptocurrencies.
Increasing liquidity is good for traders and investors in general but I would like to know what exchanges are you talking about? Are you saying XCN will be listed on new exchanges?
I would support this but you need to explain a few things so the community can better understand.
What did your research about the current liquidity issue with XCN uncover? Are we at risk of being delisted from exchanges like BTC Turk, Kucoin, Gateio, Huobi, Coinbase etc?
How does the teams operational & marketing budget of 500M XCN impact liquidity on exchanges. Given you are selling these to exchanges via OTC
How will adding more coins into circulation positivity impact price stability? From every project that I’ve seen this means more negative price pressure.
How was XCN able to be listed on 2 exchanges over the past few weeks if there is a liquidity issue?
I had talks with some of the exchanges, which I managed to reach. Yes, they expect Onyx to provide more liquidity and ensure better trading parameters. I didn’t receive any delisting warnings.
Yes, some of the budget tokens went to the exchanges, and we placed them in order books, not sell them directly. Advantages of this approach include providing liquidity, not dumping the price, and selling XCN at a better price.
I am not sure if it will stabilize the price; it’s my guess. The fact is there is no stable price with or without this proposal happen. I think if we place XCN on sale, and with a price moving up we get USDT, we can place USDT to prop up the price.
If availability on exchanges is running that low, prime example I an only able to buy xcn in 500k blocks max on uphold. Shouldn’t that scarcity be a catalyst in itself to drive the price way up. I am confused about the price action at this point. Scarcity in my book = $$$
For months people said there should be more security audits but the team has ignored this request. Don’t worry have some big Twitter influencers looking into this now. Check Twitter
Are you another paid fudder? Been reading this kind of comment several times in the forum. There is a hint of passive aggresive in many of these comments. I feel it very similar to each other
Yeah, time to write something on this, I saw this over the weekend but was busy with family, couldn’t pen my text down.
First, we have been having some people showing their displeasure, on the price, with this, proposal, I think they’ll be some decent price stability, we all known the simple economic principle, More liquidity Gives stability in Price Pareto principle
Second, regarding price stability; I think if the proposal is passed we will see some FOMO, Traders appreciate when there’s increased liquidity in anticipation of volume ( Making traders more comfortable)
Now, enough with the price aspect, Let’s look at the aspect of exposure’ GUYS! An increase in exchange liquidity often translates into volume, it is indeed an easy marketing strategy for $XCN, getting on new exchanges.
More importantly, this would be the cheapest marketing effort with a direct impacting result on both token adoption and community,
Now, to the other side of the coin, this strategy shouldn’t be I’mplemneted now, but rather when the general crypto market sentiment is more optimistic, probably when BTC is far above $32k, flowing with the remedy
I’m down nearly 90%. And you just want me to sit here and say yes to everything? What world do you live in?
For all the active people in Telegram I don’t see any that are upset by price, or liquidity on the Onyx platform that was supposed to go up, but is actually going down. $16M when team took over now at $10M. Sega said that the goal was to increase by 50% every quarter. Clearly something wrong here. No one questions? Why probably all devs or paid shills.
For how many active people on the telegram seems pretty dead here.
Twitter is the best place to discuss and the team avoids it. Plus you already know the sentiment there and how many people getting wrecked.
Don’t play. You know everything I’m saying is 100% valid
I dont think if coin is down so much it means something is wrong there . in this way almost 90 % of coins are down since peak bull run , even bluechips coins
but still tvl should have increased . i agree