Code:
Title: WhiteBitMM
Name: WhiteBitMM
Term: 1 Cycle
Cycle Amount: 128647 PIVX
Total Amount: 128647 PIVX
Author: Jeffrey
Receiver: Jeffrey
Address: D8KSDNptbw4t6ve5YcbKd5V3XTVcstAYTr
Status: Active
Vote Hash: fe3c3e17c878af6f5370d4d63512337a29d4d11ce9ed2c0f27ddad1df0c903dfHey everyone!
PIVX is now listed on quite a few exchanges. However we do have a liquidity issue meaning the order books are not deep enough to facilitate a healthy market. Market making will provide enough liquidity to provide PIVX to buyers and BTC to sellers. This additional market making will also allow us to meet the requirements of the exchange and be given a USDT pair for free. Having active market making will also reduce spread and prevent us from being delisted, Infact it is a requirement by exchanges and if done correctly will have a very positive effect for PIVX.
The MM company can be found here - https://make-it-pro.de/ and is highly recommended by WhiteBit
This proposals will cover 3 months of market making and possibly will be renewed and topped up with additional liquidity to provide for the new USDT pair. All liquidity will always belong to the PIVX DAO however due to price fluctuations etc this amount can increase or decrease. We simply provide an API key to the market making company which was recommended by WhiteBit and they will do all necessary actions.
Funding required:
Due to volatility and exchange / transaction fees an additional $1400 will be added to this proposal, should any remain over it will be used to top up upcoming proposals etc as done with this one.
Market making fee - $2500 / month x 3 = $7500 (-%5 discount) = $7125
Liquidity - $20 000 (10 000 USD PIVX | 10 000 USD BTC)
Total = $27 125 (-5000 saved from previous proposals) = $22 125 + $1400 buffer = $23525
I will also be asking for my 50 PIVX back in submission fees. Total = 128647 PIVX
Voting Details:
To Vote YES for this proposal:
Code:
mnbudgetvote many fe3c3e17c878af6f5370d4d63512337a29d4d11ce9ed2c0f27ddad1df0c903df yes
Code:
mnbudgetvote many fe3c3e17c878af6f5370d4d63512337a29d4d11ce9ed2c0f27ddad1df0c903df no
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