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Active PIVX x Armada MarketMaking

Jeffrey

Jeffrey

Administrator
Staff member
Code: 
Title: PIVXxArmada1
Name: PIVXxArmada1
Term: 1 Cycles
Cycle Amount: 160 100 PIVX
Total Amount: 160 100 PIVX
Author: Jeffrey
Receiver: Jeffrey
Address: DMZYkebbyAX6YVEwd92w79QRarzUZfcWN8
Status: Active
Vote Hash: 76e6d2e760a38ac07136e9fa954fd96f0bb57d79218117ad92ef006cf06e8f3b

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Hi Everyone,

The time has come to strengthen our markets drastically with much required liquidity and market making. This proposal will be a few in a series that aims to renew our services with Armada as well as top up liquidity for where they are operating.

Market Making is an essential part of trading and is a requirement by exchanges. More liquidity on the books means less spread and available liquidity which provides an array of benefits such as:
  • Better pricing quotes on payment gateways / swap sites due to deeper liquidity
  • Perpetual contracts
  • Better listing deals due to healthier markets
  • Market able to sustain during massive volatility on major pairs such as BTC
Once we have a sufficient liquidity base across our exchanges I will then seek margin trading and perpetual/futures trading on our USDT pairs. Market Making will also now be a priority for the next 3-6 months and will pave a way forward for some new and additional MAJOR listings.

The purpose of this proposal is for me to act as an intermediary between Armada and PIVX and to transfer said PIVX in this proposal to them upon receipt to provide the requested services. Liquidity although susceptible to volatility will belong to the PIVX DAO at all times.

Balances as of 5th August: (BTC now as of 10th Aug has been moved to USDT)
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Special thanks to @Liquid369 for making this a collaborative effort. We are both the main contact point for the market makers and have to make decisions together to conclude any changes. Liquid will also here on out be attending all meetings with our market makers to decide the best way forward depending on the requirements of our exchange contacts

Funding:
2x markets (PIVX/USDT on Binance and MEXC) $2000 each per month. Which is a discounted rate for 3 months payment.
Total = $12 000 for 3 months of MM services on our 2 pairs. This will be further discounted in a future proposal when we can pay 6 months up front.

Remaining PIVX in this proposal will be transferred regardless of USD value to Armada custodial accounts to provide market making. After this cycle we will extend the market making to the PIVX/BTC pair on Binance.

Voting Details:

To Vote YES for this proposal:
Code: 
mnbudgetvote many 76e6d2e760a38ac07136e9fa954fd96f0bb57d79218117ad92ef006cf06e8f3b yes
To Vote NO for this proposal:
Code: 
mnbudgetvote many 76e6d2e760a38ac07136e9fa954fd96f0bb57d79218117ad92ef006cf06e8f3b no
 
Last edited:
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