Many of you in the community have been asking for a while now what we have been doing to get Peercoin listed on more exchanges. Lack of access to more exchanges with high trading volume has been one of Peercoin’s biggest problem areas over the past several years. In fact, one of the main reasons why the Peercoin Foundation was originally established was so we could have a legal entity that could interact with exchanges and sign NDAs and other confidential legal documents.
As stated previously in our update about exchange expansion, the Peercoin Foundation has been reaching out to various exchanges. You are starting to see the results of this work with the recent announcement of listings at both Hotbit and CryptoBridge. We’ve established contact with dozens of exchanges now, both large and small. During this process, we have quickly come to the realization that getting listed today is mostly about paying the appropriate listing fee. It doesn’t matter to exchanges that Peercoin is a non-ICO project that operates on generous donations from its community. If we don’t pay their listing fees, then we don’t get access to new trading markets. It’s as simple as that.
To continue our exchange expansion efforts, we are coming to the community for help by starting up an exchange listing fund. This fund will be separate from the general fund operated by the Peercoin Foundation. This new fund will also be under the control of the Peercoin Foundation, however its sole purpose will be to collect donations from community members in order to pay expenses related to getting Peercoin listed for trading at new exchanges. These expenses include paying listing fees and other associated costs.
Exchanges will be chosen based on a number of factors: cost/benefit, geographical location, regulatory status, trading volume/liquidity, and of course whether the exchange has a good reputation.
Here are some potential candidates that we are currently looking at. The bulk of them cite about 1 to 5 BTC to list Peercoin. For more information on why we’re targeting these medium sized exchanges instead of larger ones, please see this post. We also mentioned below in this post that we already have a number of deals already setup and are simply waiting on funds.
And before you ask in the comments, yes, we have already officially applied to list at Binance. That is all we can say on the matter though.
We also plan on applying to list at Coinbase. However, we first need to fork the network to v0.8. A requirement of Coinbase that we also need to fulfill before applying is the launch of a bug bounty program, and there is no sense in launching a bug bounty program just before the largest code change in the history of the project (v0.8).
We are familiar with the pricing and conditions for many other exchanges, but they are not worth mentioning at the moment. Many exchanges are also of low quality and not worth contacting. We are only interested in applying to exchanges that can offer us real value.
Now comes the important part. Many of you have been telling us for years now that we need to get Peercoin on more exchanges so that we can improve our standing in the market. This is your opportunity to finally help us do exactly that! We cannot do this by ourselves. The Peercoin Foundation will do all the work to engage with exchanges and move forward with new listings, but we need financial assistance from the community in the form of donations in order to continue to make this exchange expansion a reality.
The listing fees are always denominated in Bitcoin, so we should start by pooling BTC from the community. If you would like to help in our efforts to expand exchange support, you can do one of the following things…
- Donate BTC to the following multisig address.
- Help spread the word about this exchange listing program.
- If you know well-funded individuals who might be interested, tell them about it.
If we all work together on getting this project funded, we will be able to bring PPC trading to new parts of the world and make Peercoin accessible! If you have any exchanges you would like to suggest or questions you would like to ask about the fund itself, please post a comment below. For PPC only donations, please donate to the general fund instead, however we stress that donations in BTC are needed for the exchanges. For private discussion about potential donations, you can email firstname.lastname@example.org. Thanks for your continued support!