MIP#8
Vote option:
1) Yes - Listing on BingX [No community fund-raising is needed]
2) No - Do not agree this proposal.
Executive Summary:
No listing and integration costs, BingX require MVCDAO to pay campaign costs only, and fulfill the liquidity requirements. The listing at BingX increase exposure of MVC network. May vSpace holder consider proposal from Iris [Member who introduce BingX to MVC community].
Proposal Details:
The following quote has been received from BingX
BingX Listing Package:
- $ 0 USDT - Integration Cost, and $ 0 Listing charge
Warm-up Campaign - Budget: 50 Qty of Space
Deposit Campaign - Budget: 350 Qty of Space
Trading Campaign - Budget: 500 Qty of Space
Public discussion 1 : BingX Deposit & Trading Campaign Introduction
Public discussion 2 : How BingX handle the deposit and trading campaign in the past. Example: ARB & SUI
BingX - MVC Community Liquidity Reserve:
- $ 5,000 USDT - [Refundable]
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Other information for member's analysis:
KAS listed on BingX: (30 Mar 2023) : https://t.me/mvcofficial/79074
Random select information for reference between BingX & other CEX in regards to KAS listing.
Random select information for reference between BingX & other CEX in regards to ARB & SUI listing.
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'Space' Liquidity Reserve [Refundable]: [No specific requirement by BingX], however
Reserve 7,000 Space at BingX community account because [Refundable]
To meet the potential increase in gas consumption of the MVC network due to the growth in utility demand, the volume size of liquidity's transactions may gradually increase.
Reserve at CEX community account to pay 3rd party liquidity service charge per month [If applicable]. At least 12 months above.
All community reserve from CEX is for MVCDAO's operation. Usage is subject to 1) MIP-2 or 2) subsequent budget proposal or 3) DAO proposal.
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 [BingX, CoinW, MEXC or any future exchange] in any aspect. We are unaware of the network exposure gain through BingX, CoinW, MEXC or any exchange and there is no guarantee. If there isn't a mutual acceptance of listing on BingX with a consensus of 75% or above [Vote yes] in MIP#8, we will not arrange the listing. We are not voting on this proposal to demonstrate neutrality towards this listing proposal.
5) Relevant public discussion about BingX listing is 100% public transparent. We highly recommend all members raise up your inquiries about BingX to Iris [Member who introduce BingX to MVC community] or BingX Community channel before any voting decision of MIP#8.
6) After member's in-depth research of BingX, we strongly suggest members should vote "No" if any member believe that listing on BingX 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 [BingX, CoinW and MEXC etc]
8) There will be no acceptance of complaints if the volume or exposure through listing on [BingX ,CoinW, MEXC or any future 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 BingX 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 BingX 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 our control. 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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