Proposal: Listing $HYDRA on Major Exchanges for Enhanced Accessibility and Community Growth

Liquidity Proposals
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Proposal: Listing $HYDRA on Major Exchanges for Enhanced Accessibility and Community Growth

  1. Introduction:
    Hello HydraDAO community members,

I am excited to present this proposal with the aim of getting our native token, $HYDRA, listed on major cryptocurrency exchanges. As a passionate member of the HydraDAO community, I firmly believe that listing $HYDRA on reputable exchanges will significantly benefit our ecosystem and strengthen our position in the crypto space.

  1. Rationale for Listing:
    Listing $HYDRA on major exchanges is crucial for several reasons:

a) Enhanced Accessibility: Access to major exchanges ensures that $HYDRA becomes easily accessible to crypto enthusiasts worldwide, including those from the US and other Kucoin or MEXC restricted countries. This enhanced accessibility empowers a broader audience to participate in the HydraDAO ecosystem, promoting inclusivity and diversity within our community.

b) Compliance and Safety: Major exchanges prioritize regulatory compliance and security measures. By listing $HYDRA on these platforms, we ensure that all necessary regulations are followed, providing a safer environment for trading and investing in our token. This commitment to compliance enhances the trustworthiness of our project and protects our community members.

c) Enhanced Exposure: Being listed on major exchanges introduces $HYDRA to a larger and more diverse audience, fostering community growth and engagement. The increased exposure allows more traders, investors, and potential partners to discover and participate in the Hydrachain ecosystem, strengthening our presence in the crypto space.

d) Strategic Trading Opportunities: Access to major exchanges opens up strategic trading opportunities for $HYDRA. The increased liquidity and exposure can attract more traders and investors, strengthening our position in the market and contributing to our long-term success.

e) Partnership and Collaboration: Listing on major exchanges opens the door to potential partnerships with other projects. Collaborative efforts with these projects can lead to mutual growth and innovation, expanding the horizons of Hydrachain’s ecosystem.

f) Community Morale and Growth: A successful listing on major exchanges can boost community morale and attract new contributors to Hydrachain. It demonstrates our commitment to advancing the project and providing equal opportunities for all community members, regardless of their geographical location.

In conclusion, obtaining listings on major exchanges is a strategic move that aligns with HydraDAO’s vision of creating a thriving ecosystem. By addressing accessibility challenges and ensuring regulatory compliance, we can provide a safe, secure, and inclusive environment for trading and investing in $HYDRA.

Let’s work together to propel HydraDAO, Hydrachain, and $HYDRA toward a brighter future, united in our mission to provide an accessible platform for all.

Thank you for your consideration and unwavering support.

Sincerely,
Demz One
HydraDAO Community Member

2 Likes
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Hello Demz One,
Thanks for writing up the proposal!

While I agree with most of the points you shared, could you clarify what actionable tasks you are proposing? The most difficult part about listing on a major exchange is to actually convince it.

The reason it is so hard is because thousands of projects apply for a listing, but only a handful will actually be accepted. How would the proposal work towards this step and convince the desired exchange to accept the application?

I don’t think anyone in the community or within the team would be against a listing. So it really comes down to the “how”.

Also important to note that the team has always been working closely in exploring listing opportunities (as a continued process).

Hope the above points will be helpful.

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Hello Florian thanks for the prompt reply. I feel these two actionable tasks should be good to gauge interest and get the ball rolling. Please do let me know what has already been done on these fronts by the existing team and any info already compiled as I am unaware of what is already being done behind the scenes, as I’m sure are many others.

Researching Major Exchanges: To initiate the process of listing $HYDRA on major exchanges, we will conduct thorough research on several prominent platforms. The research will focus on evaluating market potential, trading volumes, regulatory compliance, and global accessibility. Key tasks include:

  1. Market Analysis: Analyze the trading volume and liquidity of cryptocurrencies similar to $HYDRA on different exchanges. Identify exchanges that align with our community’s preferences and provide a favorable trading environment.
  2. Regulatory Compliance: Investigate the regulatory requirements of each target exchange to ensure $HYDRA meets all necessary compliance standards for listing.
  3. Global Accessibility: Evaluate the accessibility of each exchange to users from various regions, including those previously restricted, to maximize inclusivity and reach.

HydraDAO Voting Process: After conducting thorough research, we will present the findings to the HydraDAO community for their consideration and input. Community members will be invited to vote on the exchanges they believe are the most suitable for listing $HYDRA. This democratic approach ensures that community interests are at the forefront of the decision-making process.

Preparing for Listing Prerequisites: To ensure Hydrachain and $HYDRA meet the prerequisites for listing on the chosen exchanges, we will compile comprehensive information and history about the project. This will include:

  1. Proven Team: Provide detailed information about the Hydrachain team members, highlighting their expertise, experience, and contributions to the project. Demonstrating a capable and committed team is crucial for building trust with exchange operators.
  2. Useful Product: Showcase the capabilities and functionalities of Hydrachain, emphasizing its utility and uniqueness within the crypto landscape. Emphasize how $HYDRA could play a role in the ecosystem.
  3. Large User Base: Present data on the growth of the Hydrachain community, including the number of active users, contributors, and community engagement. A thriving user base indicates a strong and supportive community.
  4. Liquidity and Security: Provide evidence of sufficient liquidity in $HYDRA’s trading markets. Emphasize security measures taken to safeguard the protocol and users’ assets.

Conclusion: By carrying out these actionable tasks, we aim to make informed decisions that benefit the HydraDAO community. Through extensive research and community voting, we will select the most suitable exchanges for $HYDRA’s listing. Additionally, compiling the required information will demonstrate the robustness of Hydrachain and $HYDRA, ensuring they meet the prerequisites set by major exchanges.

1 Like
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And I guess a question for you Florian would be, What bottlenecks have the team ran into when trying to “convince” the major exchanges that you are speaking about? Having this information would help the community know where to start on this endeavor.

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Hello DemzOneMusic,

Keep in mind that Hydra already has active listing applications with major exchanges (regarding your step 1). In the process of applying, projects need to submit extensive details about everything, from product to community, team, progress, technical details, etc. (regarding your step 2). It usually comes with a 20-50 page questionaire where pretty much everything that can be said about a project is shared.

So I think it’s safe to say that both of the steps you are suggesting are already implemented in practice. We also renew applications regularly, to make sure they don’t get lost or burried under.

Regarding your question: Exchanges don’t provide feedback. But it would make sense that they look at things like trading volumes and community size/growth.
→ Therefore, as the ecosystem grows, exchanges should be more likely to list.

This is also the main point of my feedback:

  • The DAO has no capability to enforce exchange listings, since that is up to the exchanges to decide by themselves
  • But the DAO can take useful steps towards the growth of the ecosystem

So it makes sense to focus proposals and energy on the things that the DAO can actually have an impact on (such as the marketing strategy or funds allocations for certain strategic tasks/objectives).

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Hello,

Thank you for your prompt response!

I completely agree with all the points you’ve raised. The primary issue at hand is that the information you mentioned wasn’t accessible to me or the community, as far as I am aware. There has been a lack of transparency regarding any potential engagements with other exchanges. This proposal was drafted due to the scarcity of information about the ongoing status and any prior attempts to secure listings on different exchanges. Consequently, members of the community have been expressing their desire for this information both on the Telegram platform and now here.

In retrospect, it becomes evident that we require a dedicated platform where we can seek clarifications and receive direct and comprehensive answers. During my observation of interactions on Telegram, I noticed that responses to inquiries were rather vague, omitting the crucial detail that applications had indeed been submitted to prominent exchanges. This communication gap prompted me to formulate the proposal, which now appears to have been unnecessary given that the information wasn’t accessible despite multiple community members posing the same question on Telegram.

By establishing a more formal avenue for posing such questions, we can ensure that the community remains well-informed. This, in turn, will empower us to create proposals that are more constructive and advantageous.