crypdro — hoy a las 14:50
Hi all
@JOETOM and I had a call with MEXC yesterday and as we believe in "build in public", we wanted to give an update:
On MEXC
MEXC is a "top Tier 2 CEX" based on users/tx vlomue
rank 20 on
Top Cryptocurrency Exchanges Ranked By Volume | CoinMarketCap
started 5 years ago
based in Singapore/Malaysia, expanded to US, Turkey, Russia, South Korea and now worldwide
registered users: 11m+
daily active users: 50k+ (quite good in a bear market)
they list 2-3 tokens a day --> that's their core business, giving users access to as many as possible
1'600+ coins on the platform (only GateIO has slightly more which is tier 1 cex)
business model: spot trading is free, no fees. Revenue through coin listing fees and perp fees. Also running a VC business.
Integration
For integration, we need two things: integration itself (listing) and a market maker
Listing proposal
we pay a fee of $20,000 USDT
have additional $30,000 in $QUBIC + $20,000 USDT for "Kickstarter" (Reward to users) - read more here:
Crypto Trading Platform | Buy Bitcoin, Ethereum, Altcoin, NFT, DeFi | MEXC,
Crypto Trading Platform | Buy Bitcoin, Ethereum, Altcoin, NFT, DeFi | MEXC
Market maker
we need our own market maker and MEXC is happy to connect with them
usually they need $30,000 USDT + $30,000 in $QUBIC for their activities (ensuring a smooth investor experience for trading)
Next steps
due diligence on qubic on their side is done so they're ready to integrate technically (that's what they, maybe only on coin level - for sure not on the technical side )
legal discussions need to be made (who's actually signing contracts)
discussions around listing fees (maybe we can get a better price) and where they come from
deciding for a good time to list (more stable network etc.)
Also see attached presentation and
MEXC | Twitter, Instagram, Facebook | Linktree for more info.
Thanks for the lively discussion here everyone and also @braver for connecting with MEXC.
We'll keep you posted, cheers