MIP#11
Vote option:
1) Yes - Listing on Coinstore [No community fund-raising is needed]
2) No - Do not agree this proposal.
Executive Summary:
No listing and integration costs, Coinstore require MVCDAO to pay campaign costs only, and fulfill the liquidity requirements. The listing at Coinstore increase exposure of MVC network. May vSpace holder consider proposal from Elwin [Member who introduce Coinstore to MVC community].
Coinstore's Introduction
Public Discussion Link: Coinstore's Introduction by Elwin
Hello, Members of the $SPACE community,
I'm Elwin, Senior Business Development & Strategic Partnership Manager at Coinstore (coinstore.com), Leading Centralized Exchange (CEX) in South East Asia. We recently marked the launch of our brand and had the privilege of hosting two booths at Token 2049 in Singapore.
Our interest in $SPACE is piqued by its remarkable potential within the Bitcoin ecosystem, and we're enthusiastic about introducing this exceptional project to our Coinstore users.
To provide some background on Coinstore, we were established in 2021 but truly immersed ourselves in the crypto landscape in 2022 and have been actively involved since. While our exchange ranking may not match those of longer-standing competitors, our exponential growth over the past year is indeed noteworthy. Beyond our online marketing efforts, we are highly engaged in offline exhibitions as well. Just last week, we celebrated our Brand Launch, and at Token2049, we occupied two substantial booths to effectively showcase projects to a broader audience, enhancing their brand recognition, fostering familiarity, and increasing exposure and traction. We also hosted a fantastic after-party at the event. It was a privilege to meet both Jason.K and Rachel.T at the convention!
I understand that the decision regarding the inclusion of this project rests solely with the community. I sincerely hope for the listing of $SPACE on Coinstore. Personally, I have a close association with KASPA, and we have already signed a deal, with integration of their chain into our exchange expected to be completed this month.
I'd like to propose a strategy to ensure that $SPACE receives the attention it deserves, based on the fundamental principle that visibility drives adoption. Typically, when a token is listed, its visibility tends to last only about a week, as the CEX makes the announcement and runs a campaign on its platform.
Our strategy aims to prolong the visibility of $SPACE on our platform for several months. This would involve making it a trending token, featuring it in hot searches, and conducting multiple platform campaigns. This extended exposure is designed to cultivate familiarity and foster positive sentiments over time, similar to long-term product placement.
We are also willing to waive listing fees for $SPACE. I kindly request all members to review the following proposal and collectively decide whether to support it.
Proposal Details:
The following quote has been done by Coinstore.
Coinstore Listing Package:
$0 USDT - Listing Fees
Campaigns/Marketing Exposure in SPACE (10,000 USDT worth of SPACE)
Coinstore - MVC Community Liquidity Reserve:
-$5,000 USDT [Refundable]
Space Liquidity Reserve [Refundable in one month]
-Reserve 5,000 SPACE in the Coinstore community account [Refundable]
-The gas consumption of the MVC network is set to increase exponentially in tandem with the growth in utility demand. This, in turn, might lead to a rise in the volume of liquidity transactions as well.
-Reservation in the CEX community account to cover potential third-party liquidity service charges on a monthly basis [If applicable].
-All community reserves derived from the CEX account are earmarked for MVCDAO's operational functions and potential inclusion in the future budget for CEX Listing. Utilization of these reserves is contingent upon either, subsequent budget proposal, or DAO proposal.
These are all the additional support aside from the general marketing. This differs significantly from the usual approaches adopted by other exchanges.
-Coinstore Opening-page feature
-Popup Window
-Real Time Push Notifications
-Top Gainer Feature
-Trending Trading Pair Feature
-Hot Coin Feature
-Hot Search Feature
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Exchange Community Account [Liquidity Reserve] Audit:
Subject to committee's audit on a monthly basis or anytime upon request
Liquidity Service Provider Selection:
To enhance stability, it is assumed that the third-party liquidity service provider with Gotbit will be extended unless specified by the community or DAO proposal in the future.
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Remarks & Disclaimer:
1) MVCDAO emphasizes that Space is not an investment vehicle, but the gas within the MVC ecosystem. The value and price of SPACE may be influenced by utility demand of MVC network, there may be risks of price fluctuations. Participants are advised against purchasing SPACE for investment or speculative purposes.
Please note that MVCDAO does not make any commitments or guarantees regarding the price or value of SPACE. When holding SPACE, it should be used solely for participation in MVCDAO governance or utility purpose within the MVC network.
2) The proposal is purely seeking assistance to increase the visibility of MVC network, not any intention for investment analysis or induction purpose.
3) Conflict of interest declaration: The author of this proposal has not received any commission.
4) We have no adverse comments, which does not imply our support for listing on any exchange in any aspect. We are unaware of the network exposure gain through any exchange and there is no guarantee.
5) Relevant public discussion about Coinstore listing is 100% public transparent. We highly recommend all members raise up your inquiries about Constore to Elwin [Member who introduce Coinstore to MVC community] before any voting decision of MIP#11.
6) After member's in-depth research of Coinstore, we strongly suggest members should vote "No" if any member believe that listing on Coinstore would be detrimental to MVC network in any aspect.
7) We are unaware about the methodology employed by CoinMarketCap or 3rd party organization how to calculate the performance of any exchange.
8) There will be no acceptance of complaints if the volume or exposure through listing on exchange which is lower than any member's expectations. Any member who complains about the volume or exposure not sufficient through all these exchange more than four times, without providing constructive solutions after listing will be removed from MVC's community's group without notice. They will not be permitted to re-enter MVC community until they apologize through a public MVC community channel.
9) We cannot guarantee that Coinstore or any future exchange will exercise due diligence and properly integrate MVC network. It is beyond our control if the user experience for deposits or withdrawals on Coinstore or any future exchange which is similar to that of 'Txbit' in the past.
10) Many centralized exchanges have experienced bankruptcy, suspension of user withdrawals, or termination of user access rights for unknown reasons, which is entirely beyond any member's control. We cannot guarantee any refund from any CEX. Examples include Txbit. Smaller-sized exchanges with lower ratings have a higher likelihood of failure by nature which is out of any member's control.
11) Network's Awareness Growth is a collective effort and decision in DAO structure, and we suggest taking a holistic approach that promotes inclusivity. Don't expect us to guarantee any result or anything perfect without flaw", thanks you for all member's understanding.
12) Please be advised that the listing of third-party exchanges does not represent an official endorsement by the MVC project, MVCDAO, any entity or any person. Always exercise caution when utilizing any exchanges.
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