Hello Zenon.network Community,
As we explore new opportunities to enhance the visibility and accessibility of Zenon.network (ZNN), we’re considering listing ZNN on the Xeggex exchange. This move could provide several benefits, including increased exposure and a no-KYC trading option. However, before making any decisions, it’s crucial to discuss and understand the potential risks and rewards from all angles. We value your input and would like to gather your opinions through a poll at the end of this post.
Xeggex Exchange Overview:
Security and Features: Xeggex promotes a secure trading environment with features like cold storage, two-factor authentication, encrypted wallets, and DDoS mitigation. The exchange, operational since 2021, offers ultra-low fees and supports a variety of digital assets Review
Market Reputation and Volume: Despite its security measures, Xeggex is characterized by a limited selection of listed assets and modest trading volume, focusing on a niche market of low to medium market cap cryptocurrency Coingecko
Listing Zenon.network on Xeggex: Pros and Cons
- Increased Accessibility: Listing on Xeggex could lower the barriers for users to access ZNN, especially those who prefer platforms without KYC requirements.
- Visibility: This could also serve as an additional platform to increase ZNN’s market presence.
- Exchange Stability Concerns: One significant risk is the possibility of the exchange “going poof” - a scenario where the exchange suddenly shuts down or experiences catastrophic failure.
- Market Impact: There’s a risk of a megadump on Uniswap if Xeggex were to liquidate its ZNN holdings, potentially leading to a sharp price decline.
Given these considerations, we want to understand your stance on this potential listing. Here are the options for the poll:
- Yes, proceed with listing on Xeggex: The benefits outweigh the risks, and it’s a step forward in increasing ZNN’s accessibility.
- No, the risks are too high: The potential for exchange instability and negative market impact is not worth the exposure.
- I need more information before deciding: Uncertain about the decision without further details on risk mitigation and strategic benefits.
- Yes it’s worth the risk
- No it’s not worth the risk
- Yes and I’ll contribute a bit to the cause
Your insight is crucial to us. Beyond the poll, please share any concerns, suggestions, or additional thoughts you have regarding this potential listing. Your feedback will play a significant role in guiding our decision-making process.
Thank you for being a part of this journey. We’re looking forward to your participation and input.