Crypto Market Making Services
— ANIMAL Coin Case Study
ANIMAL Coin Case Study
11 January 2023 Updated on Обновлено
14 June 2023
The client set us the task of adding the ANIMAL COIN cryptocurrency to the Coinmarketcap rating. Coinmarketcap is the most popular rating of cryptocurrencies, from which information about coins is the main one for most users of cryptocurrencies. The service provides general information about the coin, a graph of changes in its exchange rate, trading volume, capitalization, and on which exchanges the user can buy the coin.
Our team has repeatedly added in-house and third-party cryptocurrencies to the Coinmarketcap rating. The client had never faced such a problem before. We gave the client full information regarding the requirements of the cryptocurrency listing service, what factors are most important, a clear understanding of the listing terms, and then began cooperation.
We changed the brand name and blurred out any references in the screenshots so as not to violate the NDA for our client.
Listing on Coinmarketcap is divided into two types: untraceable and traceable. Listing of the coin by the first type – provides basic information about the coin: a description and links to the official resources of the coin, as well as the number of issued coins.
The second type of listing is traceable, it gives much more information about the coin: price, trading volume, capitalization, list of exchanges and pairs in which the coin is traded. Also, coins with the second type of listing have a rating, the higher it is, the more trusted the coin looks to the user. The goal of a successful listing on Coinmarketcap is always to add the coin to the tracked listing.
The main requirements for getting into the tracked listing of Coinmarketcap:
Active trading of the coin on at least three crypto exchanges tracked in Coinmarketcap. Trades must be active and done by users, not bots, with a volume of at least $10,000 per day for each pair, but the higher this number, the better.
Availability of a public project team and advisers, active social networks and a roadmap being implemented.
Documents or other evidence confirming the connection of the team and advisers with the project.
Cryptocurrency must have a working product or MVP, as well as a rationale for the scope.
The project must exist for a sufficient amount of time and have verifiable activity and development.
The coin must be distributed among a significant number (thousands) of addresses for a different number of coins. It should be possible to view this in the coin’s block explorer. It is necessary to draw up a document indicating the ownership of the TOP-10 addresses by the number of coins and a description of their distribution.
Our team analyzed the current state of the cryptocurrency for compliance with the requirements of Coinmarketcap. A listing strategy was developed and tasks were set to meet the requirements for a tracked listing. A listing request has been submitted to Coinmarketcap. The coin was placed on the first type of listing – untraceable.
Further, our team, together with the client’s team, completed the following tasks:
The website of the cryptocurrency has been improved: the section “About the project team” has been expanded: photos with descriptions, links to social networks have been added; Expanded section “Roadmap”. The team added to their social networks, in which they indicated a connection with the project.
Our team selected an adviser for the client (a public person who acts as an advisor and promotes cryptocurrency). An agreement was concluded with him and a plan of activities was drawn up.
An additional listing was carried out on a centralized exchange
Work has been carried out to bring trading on all exchanges in line with the requirements of Coinmarketcap.
Work has been carried out to harmonize the distribution of the coin in its blockchain between users. A document has been prepared describing the TOP 10 addresses by the number of coins.
After completing all the necessary tasks, an additional request for a tracked listing was sent to Coinmarketcap. The Coinmarketcap team asked non-essential questions about the coin and the team. After providing comprehensive information on them, the client’s cryptocurrency ANIMAL COIN was added to the tracked listing and immediately got into the TOP-250 coins.
Further, the rating of the coin increased due to the expansion of the community, development activity, listing on the TOP-20 exchanges. The number of coin users and popularity in the crypto community has expanded. Listing on Coinmarketcap with the help of our team gave the client’s cryptocurrency ANIMAL COIN the necessary impetus for development.