Crypto Market Making Services
— CONF Coin Case Study
CONF Coin Case Study
9 January 2023 Updated on Обновлено
14 June 2023
We were contacted by a client who issued the CONF COIN cryptocurrency based on the BEP-20 token on the Binance Smart Chain blockchain. After the launch of token trading on decentralized exchanges such as PancakeSwap, the client needed to list the token on centralized exchanges. The client had no experience of contacts with exchanges, coordination of legal issues with exchanges. The client also shared that offers for listing coins on turnkey exchanges presented on the Internet are often too vague and overpriced.
Our team has established contacts with a number of centralized exchanges, the entire listing process is transparent, well-defined in time and debugged. The client received sufficient information on the issues of interest to him and chose us as a contractor for listing his token on centralized exchanges.
We changed the brand name and blurred out any references in the screenshots so as not to violate the NDA for our client.
The tasks of listing a coin on exchanges include:
Determination of the purpose of the coin listing, which determines the status of the exchange (TOP-20 Coinmarketcap or below), the geographic region of the exchange, the necessary promotional activities (trading contests, airdrops) on the side of the exchange, and more.
Coordination of necessary trading pairs. Coin trading can be launched for several stablecoins, bitcoin, ether and the exchange’s internal token. As a rule, more trading pairs provide more attention from users, but incur costs for trading support and market making.
Direct exchange selection based on the listing objectives and options available on the exchange, as well as the listing price on the exchange.
Coordination of legal issues with the exchange, collection and preparation of necessary documents (about the company – the issuer of the coin, the project team, Legal Opinion), signing the contract and payment. Some exchanges require the provision of comprehensive information about the team, project management, advisors and the company. Also, the process may require a video conference of the exchange employees with persons publicly representing the coin and the company of the coin issuer, or a visit to the exchange office.
Coordination of terms and technical integration of the coin to the exchange. The technical preparation for listing on the exchange side can take from several days to 1 month or more, depending on the type of coin blockchain, as well as the current workload of the exchange’s technical team.
Preparation of a service account on the exchange, which will be responsible for market making, if necessary, and carry out trading operations on behalf of the company.
Information support of the client up to the launch of the auction and after it on all emerging issues. After the launch of trading, the exchange monitors the required conditions for trading volume, marketing events can be carried out, trading pairs with a coin can be added or removed, which requires constant contact between the client, our team and the exchange.
With the client, the goals and order of listing were determined:
listing CONF COIN on 3 centralized exchanges, incl. TOP-20
the listing takes place sequentially, starting with a less status exchange, then the middle one and ending with the TOP-20 exchange. This procedure is due to the fact that for listing on the TOP-20 exchange, it is necessary to be represented on other exchanges.
target region – Southeast Asia,
necessary trading pairs and additional. exchange services
the terms and order of listing on all exchanges are determined
Next, we started preparing the coin for listing on exchanges:
Established contacts with authorized representatives of exchanges. An important point at this stage: check the actual attitude of contact persons to the exchange, since there are a lot of scammers on the market.
Together with the client, we prepared the necessary legal documents. Documents about the team, the company were collected, Legal Opinion was prepared.
An agreement was concluded with the stock exchange and, under our control, a partial payment for the listing was made.
Further, the entire technical process of integrating the coin to the exchange was controlled. In the case of technical integration of a coin with its own blockchain into the exchange, technical support of the exchange team may be required for all emerging issues about the coin.
The auction has been launched.
Listing CONF COIN on all selected exchanges took about 4 months. Trading was successfully launched on each of the exchanges, the last of which was an exchange from the TOP-20 Coinmarketcap.
Thanks to the listing on the exchanges, a huge number of new audiences learned about the CONF COIN. This increased the status of the coin in the crypto environment and allowed it to attract new users. During the listing process, our team added the coin to the Coinmarketcap rating.