Arthur Hayes said that information about listing conditions was provided to him by several cryptocurrency projects considering the possibility of listing tokens on large centralized exchanges (CEX).
“The worse the project, the higher the fee. If it has few users, then it needs a CEX to dump its “dog shit” on the market. If there is a suitable product and a healthy growing ecosystem, listing on the exchange is not so necessary. The community will support the price of the token wherever it is listed,” Hayes writes.
In particular, the world’s largest cryptocurrency exchange, Binance, requires up to 8% of the total token supply from new projects as a listing fee; other platforms charge from $250,000 to $500,000 in stablecoins, the crypto enthusiast said.
According to Hayes, exchanges have a required deposit, and it is returned if a new token is delisted. Binance requires all new projects to purchase up to $5 million worth of BNB tokens and place them in staking, and deposits on other sites in amounts of $250,000 to $500,000 are placed in stablecoins or the native tokens of a particular exchange.
In addition, according to Hayes, Binance takes up to 8% of the token supply for airdrops, launch pools and marketing campaigns, while other exchanges require up to 3% of the project’s tokens for these purposes. The cost of marketing services from exchanges can reach up to $1 million.
Previously, Arthur Hayes published an essay entitled “Water, Water Everywhere,” in which he announced that Bitcoin would soon reverse the decline caused by the strengthening of the Japanese yen.
Source: Bits
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