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Archived Pre-Proposal HitBTC and PIVX Exchange Integration

danielle

Pivian
Sieres
1
Sep '17

Hi All,
Putting a this pre-proposal forward to assess the interest of putting forward the funds to pay HitBTC’s listing fee’s of 10 BTC.
Reasons for moving forward with HitBTC:
  • Only 1 large volume exchange - We are currently integrated on a large number of exchanges however the volume through these exchanges is relatively small.
  • Single point sensitive - We currently rely on the volume of Bittrex for PIVX trading. This puts PIVX in a very single point sensitive position when it comes to being listed on a big exchange with a large volume of users. Should something happen to Bittrex (they go down / get hacked / go into administration), the PIVX dollar value would likely be impacted making it harder for new investors into the PIVX community.
  • Large volume for privacy coins - HitBTC while not the largest exchange, is currently the top volume exchange for ZCash and Monero and 2nd for volume for DASH. Each pushing over 5 mil in daily volume, minimum.
The 10 BTC will pay for the following:
  • HitBTC support for PIVX on the HitBTC exchange
  • Public post on twitter announcing PIVX integration
  • Listed on their website with a blurb and link to pivx.org 1
  • Listing and trading PIVX on their exchange for 1 year only
Reasons against:
  • It is a large sum of money to be paid to exchange for simply listing PIVX, especially when they take listing fees also
  • Listing fee is for 1 currency pair for 1 year (BTC / PIVX)
Funding Proposal
At .0009 PIVX / BTC pair, it would cost 11,111.112 piv to get 10 BTC.
I propose that that 10,100 piv come from the budget over 2 (or 3) months with the remaining 1,111.112 piv be donated by the community, if not the community, I personally will put the funds up front. Before the voting cycle concludes, I will ensure the 1,111.112 PIVX is held in escrow with a trusted developer to be paid to HitBTC if successful or returned to me if not.
100 piv returned as the proposal listing cost.
Total cost: 11,211.112
IF the BTC / PIVX pair price drops below .0009, I will put in the difference, held in escrow, before the completion of the voting cycle.
IF the BTC / PIVX pair price goes above .0009, I will give the extra piv to Marketing or another project (ie. ledgers or reddit tip bot etc.)
Looking to get opinions on whether this proposal should proceed.
Note: Forgot to mention, if this is successful, I will fund the cost of integration with the month 1 budget, month 2 (and 3 if it’s split 3 months) will be repaid to me.
Breakdown will look like:
Month 1: 3334 piv (budget) + 6666 piv (personal) + 100 (budget) piv + 1111 piv (personal or donated) = 10 BTC paid to HitBTC, 100 piv refunded
Month 2: 3333 piv (budget) = 3333 piv refunded to me
Month 3: 3333 piv (budget) = 3333 piv refunded to me
 
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