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Ended NOW + LBank top up

Jeffrey

Jeffrey

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Staff member
Code: 
Title: LBank-NOW-additional
Name: LBank-NOW-additional
Term: 1 Cycle
Cycle Amount: 100 000
Total Amount: 100 000
Author: Jeffrey
Receiver: Jeffrey
Address: DRQXttPoGHAY7fX8mi5d2bH5Mi4D2Wfisc
Status: Active
Vote Hash: d4f43bcf884bcad0bc12a3d6d529c351f6a7d2c2100357677298dca8eb4f3b62

Hi everyone!,

As you may have been aware the 2 proposals for NOW and LBank listings could not be completed as they were submitted around a time of extreme volatility with the BTC and PIVX price and the PIVX asked for by then had already dropped by over 35-40 percent by the time it has paid out. Both of these listings I now would love to make a priority. I will now submit this proposal and use the existing funds plus this top up to cater for both proposals and therefore allow me to focus on additional partnerships and listings in future cycles.

https://forum.pivx.org/threads/now-products-integration.1370/
and
https://forum.pivx.org/threads/lbank-info-listing-pivx-usdt.1366/

For this cycle Id like to request a top up of 100K PIVX to be used towards both of these. I will utilise the remaining funds should there be any to assist with any future passing proposals under discussion that may be having issues due to the price dropping before the pay out.

As always all sales to cater for listings are done in a responsible manner that liquidity and pricing permit with little to no negative effect on the market so it will take time.

Voting Details:
To Vote YES for this proposal:
Code: 
mnbudgetvote many d4f43bcf884bcad0bc12a3d6d529c351f6a7d2c2100357677298dca8eb4f3b62 yes
To Vote NO for this proposal:
Code: 
mnbudgetvote many d4f43bcf884bcad0bc12a3d6d529c351f6a7d2c2100357677298dca8eb4f3b62 no
 
Gerrald said:
How much is short?
Click to expand...
Hey!
so I have most of the PIVX received from these proposals. at the time of payout it didn’t make sense to sell considering it dumped up to 45 percent so in total I have around 63k at current price however much less as liquidity will definitely not allow a sale at current price. Total needed for both listings is 65k usd plus 45k usd. With the extra 100k PIVX it’s not a complete number required to pay for both however will allow me to sell at current price slowly to pay for NOW and then see if price rises to sell and list us on LBank
 
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We can always open an additional for market making liquidity as we will eventually need this for most if not all exchanges
 
Would it make sense to just go ahead with LBank asap and delay ChangeNow until the price moves up a bit? LBank can have immediate effect whereas ChangeNow is a more medium- to long-term investment for us.
 
I'm going go with shorn on this. Use available funds to get one listed then wait till price hopefully increases
 
There were funds voted on for multiple exchange listings.

LBank
NOW
Whitebit
DEXtrade
etc.

Funds for each must be kept separate. If the price drop means they are not sufficient, then you can ask for more.

But, if you move funds meant for one exchange to another, you are violating the DAO. The fact that the funds go to you first @Jeffrey, in trust, and not directly to each exchange, is likely already a legal issue. If you start re-purposing them, then it absolutely becomes a legal issue, and opens you up to legal action from regulators, while at the same time giving them ammo to attack the PIVX DAO.

That is the most serious risk. Next most serious would be the exchanges knowing funds meant for them, were diverted to their competitor. They could then, in the worst case, start legal action (albeit unlikely) but would be in the right to do so. More likely, your reputation with them would be damaged.

Then there is your reputation with the PIVX MNOs.

The funds are there to make this all happen without 're-purposing' funds. We just need MNOs to cooperate.

I hope I have this all wrong, and there is no intent to 're-purpose' funds. Please clarify, so I know if I need to change my votes or not.

Thanks.
 
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Eric_Stanek said:
There were funds voted on for multiple exchange listings.

LBank
NOW
Whitebit
DEXtrade
etc.

Funds for each must be kept separate. If the price drop means they are not sufficient, then you can ask for more.

But, if you move funds meant for one exchange to another, you are violating the DAO. The fact that the funds go to you first @Jeffrey, in trust, and not directly to each exchange, is likely already a legal issue. If you start re-purposing them, then it absolutely becomes a legal issue, and opens you up to legal action from regulators, while at the same time giving them ammo to attack the PIVX DAO.

That is the most serious risk. Next most serious would be the exchanges knowing funds meant for them, were diverted to their competitor. They could then, in the worst case, start legal action (albeit unlikely) but would be in the right to do so. More likely, your reputation with them would be damaged.

Then there is your reputation with the PIVX MNOs.

The funds are there to make this all happen without 're-purposing' funds. We just need MNOs to cooperate.

I hope I have this all wrong, and there is no intent to 're-purpose' funds. Please clarify, so I know if I need to change my votes or not.

Thanks.
Click to expand...
Hi Eric

Seems there is a confusion. The funds belong to each exchange. What I meant for these 2 is that with the total amount I try pay for one first instead of holding the entire sum to pay both simultaneously. That way let’s say if I pay for LBank first. Maybe price goes up that way the remaining amount in PIV is sufficient to also pay for NOW without asking for a top up :)
 
Excellent. Sorry for the misunderstanding.I misread. Just that we are at the last minutes of the voting cycle and I was worried things were being done improperly and creating risks for you and the DAO.
 
Thanks guys! NOW group was paid! instead of waiting for price increase I will submit a final proposal to top up so we can proceed with the listing for LBank
 
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