Title: PIVX x (Armada Labs- Binance Market Making renew
Term: 1 Cycles
Cycle Amount: 21,862 PIVX
Total Amount: 21,862 PIVX
Vote Hash: c9013bc3eab3e9f0b18aed319958f79add229d77c694c903927f2dd8d407c4a6
This proposal aims to renew the market making efforts as provided by Armada Labs as done so in the previous proposal here - https://forum.pivx.org/threads/pivx-x-coinalpha-armada-labs-binance-market-making.1805/
This will simply be a payment for the MM services to provide sufficient liquidity and order book management to keep our market healthy on Binance with the USDT pair. Ultimately renewing the services for an additional 3 months.
The first goal of the MM was to get the USDT pair which has now been achieved. This will now be used to manage our existing liquidity and to upkeep our order books. The aim is to go bigger and increase liquidity as well as work on the perps markets.
Our current liquidity is as follows:
In future proposals this will be increased drastically to accommodate a more aggressive market as well as the futures listing goal.
Monthly Fee - $2000 x 3 = $6600 (+10% due to volatility)
50 PIVX submission fees
Total = 21,862 PIVX
To Vote YES for this proposal:
mnbudgetvote many c9013bc3eab3e9f0b18aed319958f79add229d77c694c903927f2dd8d407c4a6yes
mnbudgetvote many c9013bc3eab3e9f0b18aed319958f79add229d77c694c903927f2dd8d407c4a6 no