People who bought DEB tokens during crowdsale often ask why our tokens are not listed on the biggest and most popular exchanges. Good news is that at the moment our tokens are listed on Kucoin and LATOKEN exchanges, which may not be among top 20, but are already among top 50 and are improving the statistics.
You can register and deposit at LATOKEN exchange and start trading DEB tokens.
We do care about our token holders and want to see DEB tokens listed on more crypto exchanges. However, it has to be done in a timely fashion with the interest of DEB holders in mind, the price of the listing and a few other factors. Similarly, it is important for those who bought tokens to understand key issues connected to being listed and how we intend to deal with them.
Ways exchanges exploit ICOs
It is obvious that most ICOs rush to get their tokens listed on the top exchanges and a lot of them do it within 3-4 months after a crowdsale. Why don’t we hurry? If you care to read about listing prices, you will find out that most popular exchanges, most of which are operating under a pretty much centralized model charge from 1 to 6 million $, just for a possibility to get your tokens listed there. Imagine how expenditures can grow up if an ICO tries to get listed on multiple exchanges. It gets even worse as mega exchanges charge big fees for transactions of buying and selling tokens that are listed on them. Lastly, exchanges will likewise ask from ICOs for a huge amount of coins or tokens in what is commonly known as “liquidity deposit”. All of that comes to no financial risk to exchanges, but merely profits, and huge expenditures as well as risks for companies who list their tokens and those who own the tokens.
Price for liquidity
The status proves a huge imbalance of power between exchanges and crypto projects. This power arises from the fact that access to these bigger and more powerful ones may result in success or failure of a crypto project. Exchanges give liquidity for cryptocurrencies as tokens can be bought and sold freely there. This increases trust with those who own tokens as they know that if they need to sell their digital assets they will be able to do it unhindered.
Considering that Debitum Network collected 17 million $, it would be outrageous to pay the above-mentioned amounts just for listing. We similarly do not see how spending such huge amount of money would be beneficial to our DEB holders. The money collected is surely meant for project development and creation of a platform, not for giving away the bulk of it to some exchange.
On the one hand, it is obvious that people who bought tokens did that with the expectation to make profits. On the other hand, most tokens are not shares and they do not give token holders stake in a company or guarantee to get dividends. Companies that have done ICOs ran with a specific project, or product in mind and the pressure from those who want to make quick profits from buying tokens cheaper and selling them at more expensive price may influence a company to concentrate on the things that are not directly connected to making a project successful (such as being listed on some mega crypto exchange). We are not in the short game, as some speculators are, for they simply buy tokens to sell them and reap fast profits.
Debitum Network will keep to its’ main focus – project development
We, at Debitum Network, are in contact with major exchanges seeking for opportunities to be listed having in mind a reasonable price that we would be willing to pay. We want to be in control of the business and not to depend too much on any exchange. Paying draconian fees from the hard-earned money that people bought our tokens with would go against our belief of running a business under a decentralized model and being fully in control of how we want to do it. Therefore, we have done an analysis of exchanges and made rough estimates of what we would expect to be a fair price to be listed on each specific exchange. We are in contact with them, and, once in a while, we get decent proposals. Yet, again, our focus is on delivering a product and business expansion, that should result in business growth, contribution to SMEs expansion around the world and ultimately benefits for those that own our tokens.
Debitum Network 1.0 Abra is live now
The first version of the project we have undertaken to deliver is already there. You can register on the platform and earn interest on short-term loans.