I think it’s prudent for me to add to this thread as it’s been discussed many times on all the platforms.
Getting on an exchange isn’t as simple as "just applying". There are a lot of factors that need to be considered here:
Is the coin listed on CoinMarketCap? This is a genuine question asked by exchanges.
How stable is the network? Many exchanges are cautious about listing new coins, especially after this week’s ETC 51% attack - the exchange lost money due to it.
How much are they willing to pay? Something rarely considered by the community. Remember, Safex is a grass-roots projects, not some highly pumped ICO.
Is the coin listed on CoinMarketCap?
Addressing point one - this is being worked on. Dan and the team are in communication with CMC to get Safex Cash and Safex Token listed on CMC. This will give some much-needed attention. However, there are many loops that must be jumped through until they play ball. Remember how much effort we’ve put in for them to correct the Safe Exchange Coin circulation error?
How stable is the network?
It’s a new blockchain. It’s growing and adding new nodes and miners to the network every day. We of course need a lot more to add to this network for long-term sustainability.
Plans are put in motion to build two large mining facilities in two different countries. The designs are being made so others can replicate the same framework in their location also.
Not many people appreciate this part of the project, but it’s a part that needs a LOT of attention and focus, and needs time spent on it.
If you look at a lot of the coins on these “high volume” exchanges, they’re all piggybacking off a high-hash network, like Ethereum. They don’t have to worry about this kind of thing.
We’re different, we can’t fulfil our mission statement if we’re relying on a 3rd party network. We need our own network – and the network needs a lot of attention. It’s not something that can be left and forgotten about.
How much are they willing to pay?
It’s no secret that these exchanges charge hundreds of thousands of dollars for a single trading pair listing. Safex isn’t one of the 2017 pumped hyped ICO projects. They don’t have millions in ICO funding to just throw at exchange listings (This is also a reason why exchanges charge so much – because these ICOs just threw huge money around).
So, for Safex and Balkaneum, a lot must be considered for a listing. They need to ensure their money is being spent correctly, and it’s strategically positioned for the various target markets that will be tapped into in the early days.
That being said, more exchanges are coming. It’s a difficult position because not much can be said about them due to NDAs and other aspects. However, they are coming.
The whole “we need the volume Bittrex / Cryptopia gave us” is a none argument. If you actually look at the overall volume of CoinDeal, you’ll see that they’re at the SAME trade volume of Bittrex during the majority of Safex’s listings. It’s only during the Q4 2017 bull run that Bittrex’s trade volume shot up.
CoinDeal’s Trade Volume
- 24 Hour - $6.5m
- 7 day – $16.8m
- 30 day - $128m
Instant Bittex Trade Volume
- 24 Hour - $4.4m
- Unfortunately can’t find 7 and 30 day volume
Cryptopia Trade Volume
- 24 Hour - $1.7m
- 7 day - $5m
- 30 day - $37.5m
We’re missing a MAJOR aspect to this dialogue - market conditions. We’re still trying to compare things to that of the late 2017 bull run. The market has changed. There is no denying that.
The age of when a simple logo change pumped a coin 5000% are over.
It’s a different dynamic right now - nothing we can do about it. We just have to get our heads down, develop the product we set out to do, and give to the world what we’ve made. No amount of suggestions, complaining or shouting will change market sentiment. It’s just how it is right now.