Binance Listing?

B

BigInvestor

Secured
Dear Members of the Forum,

I am a big investor and believer in FCT, or lets say I was and now I am still kinda optimistic.
When FCT price was at 30 USD, I bought more than 50.000 FCT. Yes, thats right. I put 7 digits in this project at this high price.
I guess I still must be one of the biggest private investors in Factom.
I am at a huge book loss, but honestly my other smallcap-coins are not looking much better and I do not blame Factom alone on this current outcome of my FCT investment.
We are very close of breaking the big downtrend that is existing on the FCTUSD chart since End of April 2018!
We can see a similar picture with many many other smallcap-coins and I believe we are finally in for the break of this depressing sh*t until end of March.


First I need to say I am happy that you guys finally realized the importance of stopping/reducing the inflation and capping the coin.
I actually made this proposal many times at the Discord 1-2 years ago, but everyone said I would be an idiot. Who is the idiot now, huh?


Anyway, lets come to the point.
From my point of view there were always three reasons for the decline of the FCT:
1. Overall bearmarket of the whole crypto market, especially the small market caps.
2. High inflation and no cap of FCT
3. No Binance listing


Since many years we are talking about a Binance listing, but in the end we heard nothing from the responsible persons.
As a big investor of FCT, I require a feedback on this. I want to know what is the issue, why FCT is not listed on Binance since many years and we hear nothing about that anymore.
Without a Binance Listing FCT will never attract investors like it would with the listing. The buying process via Bittrex is a paininthea*s and their KYC is crazy. I for example wanted to buy more FCT recently, but I can't as Bittrex just blocked my account because I decided to not do a financial striptease in front of them just to buy some FCT.


So please, dear "Exchange Commitee", me as a big investor in your project/coin require some meaningful answers on this issue.
 
WB

WB

Exchange Working Group
Governance Working Group
Factom Council
Secured
Thanks for posting.

BigInvestor said:
Without a Binance Listing FCT will never attract investors like it would with the listing. The buying process via Bittrex is a paininthea*s and their KYC is crazy. I for example wanted to buy more FCT recently, but I can't as Bittrex just blocked my account because I decided to not do a financial striptease in front of them just to buy some FCT.
Click to expand...
I just mentioned that here. Market availability, as in 'how easy it is to buy something', is a huge factor. How can price ever go up if those wanting to buy are restricted?

Anyway, we'd all love to get on Binance. The reality of the situation is that we had a small window to get listed a few years ago, which didn't happen. They are no longer interested and we really have nothing to offer them at the present moment.

What they want are active protocols that are building and growing. We're not hitting that bar. Also, quoting @Anton Ilzheev - "Moreover, legit exchanges are moving towards free listings — protocols should have healthy tokenomics and protocol funds are used for market making and marketing/trading promotions instead of paying a listing fee."

A new tokenomics proposal needs to free up the FCT required for market-making and building out the protocol & community more rapidly than before. There's one under discussion now. So let's wait for it.
 
B

BigInvestor

Secured
"They are no longer interested and we really have nothing to offer them at the present moment. "

Why you know they are not longer interested? They said that? What words they used? Possible to quote them?
And what we would need to have to offer them something?
 
Anton Ilzheev

Anton Ilzheev

De Facto
Exchange Working Group
Core Committee
Website Committee
Factom Council
Secured
BigInvestor said:
And what we would need to have to offer them something?
Click to expand...
Improved tokenomics is the first step: it can be hard cap or unlimited supply with an inflation shared with tokenholders (via staking).

If we have improved tokenomics, there will appear an incentive for people to accumulate and hold, which leads to healthy market.

I have proposed both options: 21M hard cap and staking — separately, even with modeling. And both options were rejected by ANOs.

As ANO set is smaller currently, we can re-evaluate voting results and check if staking would pass now.
 
B

BigInvestor

Secured
I would highly suggest NO staking and a hard cap.


Why the f*ck the ANOs rejected both options?
Sometimes I think the ANOs just wanna get as much as FCT reward as possible.
By the way, I think big HODLers like me should have the same voting right as an ANO.
 
Anton Ilzheev

Anton Ilzheev

De Facto
Exchange Working Group
Core Committee
Website Committee
Factom Council
Secured

21M FCT Hard cap

I have modelled FCT inflation with hard cap 21,000,000 FCT: https://docs.google.com/spreadsheets/d/1rQP8B4PhZ15D4HVBdI5G2pQKTndazwcFiiVgNplZzpg/edit?usp=sharing The inflation limit mechanism used: 1) 21 mln FCT hard cap 2) X% of remaining tokens (hard cap — circ. supply) are issued as ANO...
forum.factomprotocol.org forum.factomprotocol.org
The support level for 21M hard cap was pretty low, and moreover no core developers, who could code hard cap, didn’t step up.
 
B

BigInvestor

Secured
The idea from "Colin" from the linked 21M FCT Hard cap was good.
Why you can never agree on something on this forum? I saw many many times that someone had a good idea and just nothing happened afterwards. You already gave up FCT, too??
 
WB

WB

Exchange Working Group
Governance Working Group
Factom Council
Secured
BigInvestor said:
@Anton Ilzheev @WB

What about Kraken or any other bigger exchanges?
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Same story really. These are very difficult listings where the protocol needs to speak for itself. Negotiations don't really do much. They want protocols that are active and building and can fork over the resources (in FCT) for some initial marketmaking. A new tokenomics proposal will enable both and I'll do what I can to get the current one approved. It's really our only shot.
 
S

Shuster013

Secured
WB said:
Same story really. These are very difficult listings where the protocol needs to speak for itself. Negotiations don't really do much. They want protocols that are active and building and can fork over the resources (in FCT) for some initial marketmaking. A new tokenomics proposal will enable both and I'll do what I can to get the current one approved. It's really our only shot.
Click to expand...
Good afternoon
Any news about this? Will Factom finally be listed on some major exchanges?
 
matetaronna

matetaronna

Secured
Hello!

I work with Bybit, so we might see a listing option there. If you are going to do a migration of the token, they can be released as a launchpad project or simply listed in Spot.

Another question, I invest monthly in Bittrex at Factom. Where is the best place to store my tokens?

Thanks for your reply!
 
PaulSnow

PaulSnow

Factom Inc.
Core Committee
Core Developer
Secured
matetaronna said:
Hello!

I work with Bybit, so we might see a listing option there. If you are going to do a migration of the token, they can be released as a launchpad project or simply listed in Spot.

Another question, I invest monthly in Bittrex at Factom. Where is the best place to store my tokens?

Thanks for your reply!
Click to expand...
I personally store my tokens on paper wallets...It is old school but it works.
When Accumulate is activated, your options will expand greatly. You will be able to store your tokens on the Ledger Nano, and use the new and shiny multisignature wallet.
 
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