Author Topic: suggestion on a bounty based marketing worker proposal  (Read 3790 times)

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Offline matle85

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Cheers Abit will do.

Whatever happens with the bounty discussion I'd love to see us listing bitCNY and bitUSD on LATOKEN. People could sell USDT for bitUSD...I know what I'd rather have  ;)

On the bounty side - as long as it's the same rule for everyone then it's a level playing field so I can't really complain. I'm speaking to a few about 3+ pairs so let's see, I think moving above that would need a few months of proven liquidity on the exchange so let's get them up there first :)

Offline abit

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Hi Abit, yes they'll list both of them against 4 trading pairs: BTC, ETH, LA (the native token) and USDT.
I still think the bounty program asked for more than you have done.

Please check this thread for latest information: https://bitsharestalk.org/index.php?topic=27328.0, and discuss there. Thanks.

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Offline matle85

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Hi Abit, yes they'll list both of them against 4 trading pairs: BTC, ETH, LA (the native token) and USDT.

Offline abit

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Ok they'll list both bitUSD and bitCNY for 7 BTC + 1 BTC in bitCNY / bitUSD. They think they could have us on there by around 17 Dec.

Bitcrab what are your thoughts? Not sure how this compares to other exchanges.
I think bitcrab's point is an exchange should list bitCNY/bitUSD as base currency/token, like USDT, on the exchange people can trade other coins against it directly.
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Offline matle85

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Ok they'll list both bitUSD and bitCNY for 7 BTC + 1 BTC in bitCNY / bitUSD. They think they could have us on there by around 17 Dec.

Bitcrab what are your thoughts? Not sure how this compares to other exchanges.

Offline matle85

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Ok have been speaking to a few.

LATOKEN (currently around No.40) will list bitCNY or bitUSD but the charge is 7 BTC + 1 BTC in bitCNY or bitUSD as appropriate.

More than cancels out any bounty reward that might be put in place. Will see if there is any wiggle room on that and in the meantime will continue discussing with the others.

Offline matle85

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My view is we are a big decentralised community and bounties are a great way to get things done - the size of bounties and the value they bring can all be assessed but this seems like a good first target.

Stable coins are massive news at the minute and some of the main centralised options are waivering - BTS aren't even in the conversation at the minute. If we are suddenly popping up at exchanges all over the place that changes.

Liquidity is an issue but I think that only gets corrected by the value of BTS going up and being stable at higher levels - at $0.1 it is much harder to create bitUSD than it is at BTS=$1.75.

I remain of the view stable coin uptake is one of the best things that could happen to BTS and it would organically drive the price up. If Binance suddenly list bitCNY and bitUSD with some good trading pairs we would see an immediate pump in BTS value to 2x/3x where it is now as an absolute minimum.

Not trading advice ;)

Offline armin

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I think bitcrab is not trying to just pay people to "list tokens", instead he wants lobbyist to explain to the exchanges what's the benefit of listing the token for THEMSELVES, that will result in a much better chance of having the token listed for a long time because the exchanges understand that it benefits them greatly

Offline R

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Quote from: customminer
...otherwise what's preventing these exchanges from simply delisting these tokens in a few months due to a lack of liquidity like multiple CEX have done in the past?

Have other exchanges listed bitUSD and bitCNY historically?
Yes, and removed them due to low liquidity.

Offline matle85

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...otherwise what's preventing these exchanges from simply delisting these tokens in a few months due to a lack of liquidity like multiple CEX have done in the past?
[/quote]

Have other exchanges listed bitUSD and bitCNY historically?


Offline R

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Simply adding a smartcoin isn't that impressive a feat for a centralized exchange, I'd fully support these bounties for CEX which allow borrowing bitCNY using BTS from the CEX interface resulting in BTS returning from CEX to the BTS DEX whilst providing BTS buy pressure and bitCNY liquidity within the CEX. Alternatively, if these large exchanges are convinced to create a BTS DEX gateway or bridge, that'd be far more valuable than a single token being added to a CEX.

https://www.bitshares.foundation/workers/2017-10-compliance Already covers this topic, no? "$50,000 worth of BTS in each case we convince an exchange (i.e. Kraken, bitstamp, coinbase, bitcoin.de) to list any asset (pair) that is primarily hosted on BitShares."

I don't think 'Bitfinex' should count, aren't they behind Tether & thus a direct competitor? If Tether collapses then won't Bitfinex too?

Binance doesn't charge for addition anymore, couldn't a community based application suffice?

it add much complex for CEXs to build a BTS DEX gateway or enable borrowing from BTS DEX, if some CEX are interested in this it can be handled in a single event.

bounty means "if you make something done, you will get the reward", so it doesn't matter if it is impossible for Bitfinex to adopt smartcoin, what happend recently to USDT hurt the reputation of Tether greatly, but I believe Bitfinex will continue be one of the most important CEX in this area.

the bounty is not for paying to CEX for listing, it is pay for the lobbyists that can make things happen, I believe CEXs like binance or huobi have some other concerns which are more important than charge: supply, pegging accuracy, remittence service..etc, the bounty is to hire salesperson actually.

Indeed it adds complexity for an CEX to add bitasset borrowing using BTS on their platform, but otherwise what's preventing these exchanges from simply delisting these tokens in a few months due to a lack of liquidity like multiple CEX have done in the past? Increased demand for bitassets does not improve supply nor pegging accuracy.

I realize that this is for paying the lobbyists, not paying the CEX a listing fee/bribe; I simply don't believe that adding a single token is worth distributing such large bounties for. That said, successfully lobbying CEX to add full bitasset borrowing capabilities to their CEX UI (increasing bitasset availability on CEX & returning BTS to the DEX from CEX - 2 birds with one stone) or getting a top CEX to run their own BTS DEX gateway/bridge services would be far more beneficial and worthwhile objectives for the BTS DEX than simply adding a single token to a CEX (anyone can fill out an application form...).

I highly doubt that if Tether collapses Bitfinex will continue to exist. They have multiple competing products to the BTS DEX, so they'd probably end up being a negative influence, no?
« Last Edit: October 20, 2018, 01:06:07 pm by Customminer »

Offline bitcrab

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Simply adding a smartcoin isn't that impressive a feat for a centralized exchange, I'd fully support these bounties for CEX which allow borrowing bitCNY using BTS from the CEX interface resulting in BTS returning from CEX to the BTS DEX whilst providing BTS buy pressure and bitCNY liquidity within the CEX. Alternatively, if these large exchanges are convinced to create a BTS DEX gateway or bridge, that'd be far more valuable than a single token being added to a CEX.

https://www.bitshares.foundation/workers/2017-10-compliance Already covers this topic, no? "$50,000 worth of BTS in each case we convince an exchange (i.e. Kraken, bitstamp, coinbase, bitcoin.de) to list any asset (pair) that is primarily hosted on BitShares."

I don't think 'Bitfinex' should count, aren't they behind Tether & thus a direct competitor? If Tether collapses then won't Bitfinex too?

Binance doesn't charge for addition anymore, couldn't a community based application suffice?

it add much complex for CEXs to build a BTS DEX gateway or enable borrowing from BTS DEX, if some CEX are interested in this it can be handled in a single event.

bounty means "if you make something done, you will get the reward", so it doesn't matter if it is impossible for Bitfinex to adopt smartcoin, what happend recently to USDT hurt the reputation of Tether greatly, but I believe Bitfinex will continue be one of the most important CEX in this area.

the bounty is not for paying to CEX for listing, it is pay for the lobbyists that can make things happen, I believe CEXs like binance or huobi have some other concerns which are more important than charge: supply, pegging accuracy, remittence service..etc, the bounty is to hire salesperson actually.
Email:bitcrab@qq.com

Offline bitcrab

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I like the idea.

I believe the worker should include bitEUR as well. (yes it's very small now but I believe has great potential)

I also believe bitEUR has great potential, but now there's only less than 80K supply, I think for bitEUR firstly we need to implement BSIP42 or the updated MCR based proposal to guarantee an accurate pegging, and then get sufficient supply and market depth by some market making activities,
otherwise CEXs will not be interested in it.
 
Email:bitcrab@qq.com

Offline matle85

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I'm reaching out to a few, will let you know if I get any traction with them.

Offline ripplexiaoshan

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Good initiative!

However, I think the importance gradually decrease when more and more exchanges list bitCNY/bitUSD, thus it is not wise to pay lobbyist same amount of BTS all the time. That is to say, for top 10 exchanges, if one of them list bitCNY, it means a lot to us, but after 3 of them have listed bitCNY, we don't care so much whether the rest 6 exchanges list bitCNY or not. After all, even BTS is not actively being traded on all of them.

In my opinion, we should set a bounty with a upper limit, let's say 2 million BTS. The first top 10 exchange which list bitCNY will get rewarded like 500K BTS, the second 300k, third 200k, etc.. while the exchanges that are beyond of top 30 or 50, we have no interest.
 
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