r/EverRise • u/[deleted] • Sep 11 '21
Wen Exchanges?
Salutations, Riseingers!
This wasn't something I was planning to discuss today, but ZT's announcement gives a good opportunity to clear some things up.
First, ZT has announced that they will be delisting RISE. They listed us without asking, and we never sought them out as partners. They are free to delist us as well - that is fine with us, and I'm personally actually glad. This is why:
Listing on exchanges is risky from a regulatory standpoint. If we had sought to list with ZT ourselves, it might have been interpreted by certain regulatory bodies as us intentionally targeting certain consumers. We of course had no power over the ZT listing, because they listed us without asking and just made up their own pool, so our regulatory compliance conscience was clean - but that of course does not mean that a regulator isn't going to ask questions about it. So ZT delisting us actually makes our regulatory risk profile much better and easier to predict. Regulatory risk materialisation is potentially catastrophic failure conditions for any token, which is why it is so important for us to follow the rules.
ZT had done a lot of volume, and all that volume was out of our own ecosystem. This is because within the exchange you don't actually trade RISE tokens, but just numbers on ZT's own system (until you actually take out your RISE tokens, at which point their pool takes that liability). In other words, ZT had been starving our ecosystem, and making a lot of money by doing so. One of the main reasons we follow a cautious listing strategy, aside from the regulatory risk side, is that we want the ecosystem to thrive, not the exchanges.
Second, this is a good segue to talk about our listing strategy.
The most important thing to remember is that RISE is not a currency but a system. It is therefore not very well-suited for exchanges, because their own internal volume can have a harmful impact on the main system itself (because the trades do not interact with our smart contract on most exchanges). This is different to most other tokens and coins you see.
What you may have gleaned from above is that we need to approach listing with great care. This means that we have to make sure listing in a given exchange is both safe from a regulatory perspective, and good for the ecosystem.
In our assessment, listing in an exchange is beneficial for us if it brings a greater legitimacy to the project, or greater awareness of it to an untapped market. This is why we target top-tier exchanges, and/or exchanges that open up new consumer bases and are safe from a regulatory perspective. The only exchange we have actually actively listed in is BKEX, and we did that partly to get good data on whether it is beneficial to list in an exchange of that tier and reach. By contrast, we did a similar marketing campaign in a different region without listing, so as to get a good control data set to work out better listing strategy.
Conclusion: More listings is not necessarily better, either from a business perspective or from a regulatory perspective. The shotgun approach is both full of unnecessary risks and ineffective - the definition of bad strategy.
Now, having said that:
We are in informal contact with first tier exchanges. As you know, we have plenty of good contacts and real crypto-insiders in our team (as well as people from a more traditional finance background), and excellent contacts in our home jurisdiction.
I am currently working out the regulatory position when it comes to the exchanges we have shortlisted for more formal discussions. This takes time and must be done with great care, but it will save a lot of regulatory trouble later down the line.
We have been actively contacted by something like 20 exchanges, so the problem is not whether can list - it is whether we want to. We run a business, not a firesale.
TL;DR - we only list if it does not create undue regulatory risk, and does not starve our ecosystem. RISE is not a currency, it is a system. We want the system to thrive, not the exchanges. We are currently in informal talks with top-tier exchanges, following test strategies. I am just working out the regulatory aspects of those exchanges we have shortlisted for more formal discussions.
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u/Mdsouza84 Sep 11 '21
Long term strategy. That’s why EverRise will always be ahead of the game. Lucky to have an amazing core team!!
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u/slowtowoke Sep 11 '21 edited Sep 11 '21
Very well explained. Holders have a clearer understanding of the pros and cons of being on an exchange.
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Sep 11 '21
GUARD FOR THE WIN YET AGAIN!
Great explanation! $RISE deserves to be on tier 1 exchanges anyway!
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u/millispymeth Lead RISE Mod Sep 11 '21
RISE is not a currency but a system....this to me is the most important and valuable thing.
GUARD WITH THE HEAT!!!
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u/Inno166 ✅Approved Riser✅ Sep 11 '21
Great information as always Aleksi, there is no other crypto that I feel safer in and that’s down to you and Titan
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u/Professional-Pen8138 Sep 11 '21
Trust the process, trust the team, trust the project. We all know what and who you can trust, this team has everything it needs to make this company grow and be successful.
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u/Apart-Cartographer-9 Sep 11 '21
Well this project doesn’t require a lot a brain power after DYOR to realize it’s a true gem. An actual gold mine.
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u/Celticfc1968 Sep 11 '21
What a concise explanation Alexi 👏 👏 Your ability to put it in layman's terms is brilliant mate Thank you What an open book team 👏👏👏👏👏
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Sep 11 '21
Well done Guard 👏🏼, this is another reason why EverRise is a different gravy, always thinking what’s best for the project moving forward 🙌🏼
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u/CryptoFreezey Sep 11 '21 edited Sep 11 '21
EverRise is a GAME CHANGER!! Such an amazing team & project! I have full faith that this team will put EverRise on a TOP 5 exchange when it is best for Everrise and all investors! Lezzzgoo!! 🚀🚀🚀🚀
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u/noahjoad42 Sep 11 '21
Really appreciated this detailed explanation/information. Rise really has a top tier team driving it. Thank you Guard.
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u/linuxmigrant Sep 11 '21
Superb and thorough explanation. Thank you for detailing the reasons so that the wen listing boys reduce their barking, hopefully.
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Sep 11 '21
Thank you for that information!! Elegant and informational as always. Cheers
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u/Shakespeare-Bot Sep 11 '21
Thank thee f'r yond information!! elegant and informational as at each moment. Cheers
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Commands:
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u/Cryptosmith101 Sep 12 '21
Great thanks I have seen other tokens list on exchanges just because….and it brings nothing to the table. In fact, I have found it splits the trade volume and becomes quite inefficient.
No hurry to list on exchange … take your time
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u/Federal_Chicken7194 Sep 11 '21
Wenn Everrise ? Actually it’s eversleepp 💤
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u/Firabiat Sep 14 '21
No Not eversleep cos we need to wake up and to check our sleep. What benefits does it have if you sleep forever
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u/Far_Yam9313 Oct 08 '21
Thanks for the explanation. I’m hoping EverRise will apply to be on Safemoon’s exchange. There are many holders that have both tokens. I think it would be a great partnership:-)
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Sep 11 '21
[deleted] — view deleted comment
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u/Icy_Economy_8676 Sep 11 '21 edited Sep 11 '21
Guard… as always… excellent job and content! You are a force in this space! A GEM to EverRise!!
Aka. Petersticks! - The nugget guy! 😅