As a governer, I making a first proposal, can we make the PLR token get listed on Binance? If you like my idea please give me a thump up 
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There longterm benefit of being listed on Binance is unclear and not prooven. Although it will create awareness at the beginning which could help onboard more people. Binance will primarely push their own wallet. Save the money for guerilla coders instead.
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Thanks for bringing this one to the forum, @Boba. I feel like this is the best framework to start discussing this topic in the most constructive way possible.
I agree with @eggman here - there are a lot of assumptions around “listing on CEX” and its potential pros and cons. Would be good to put some of them to test as the ultimate goal is to make the governance process as data-driven as possible or as it makes sense.
Let’s start with researching some of the key questions here:
- what’s the cost?
- what’s the potential outcome of paying this cost in PLR?
- what are the legal/compliance risks for conducting this as a Pillar Foundation initiative?
- what are the legal/compliance risks for conducting this as a DAO initiative?
- what’s the expected outcome?
- what can we learn from cases of similar tokens listed on Binance?
And just a suggestion - maybe it makes sense to rename the topic to Pillar to be listed on Binance - one CEX can be very different from another and it’s probably good to analyze them case by case?
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- Most centralized exchanges want a fee upfront or some kind of commitment. Usually this is a donation of tokens either to the exchange or to market makers (to keep the trade volume at acceptable levels).
- Now that generally good decentralized exchanges like Uniswap are available, it’s better to focus on them. The tokens provided for trading are from the community and the trading fees and rewards go to the Pillar community instead of a centralized exchange or its market makers.
In other words, it seems backwards to prioritize large centralized exchanges at this time. Decentralized exchanges (and routers, for liquidity) are getting better and better and we can focus on them. As the price and trade volume of PLR increases, centralized exchanges will add the token anyway.
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I agree here Jack. It is definitely worth the effort to inspect these bullet points he’s laid out. Although I see _dj’s point, getting listed on centralized exchanges feels like going backwards I feel Pillar has always been way ahead of the curve in an already advanced field. It maybe necessary for us to step back to get the participation we need.
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I want $PLR listing on Coinbase, Binance, Kucoin 
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From Cube : i don’t think the CEX listing will do anything good to the token without a parallel marketing based pump. But again what is the benefit of spending huge money on listing? I would rather focus on a completely new tokenomics and DAO R&D where we build qualitatively the community, the utility, and in which we are if not in full control but at least a partial control of the token value (TBC, reserve currencies, market making strategies, 2 or 3 tokens strategy instead of 1, partnership with other projects with a swap of the gov token, locking PLR into dynamic NFTs, etc etc). By the way, most of the coin getting nice pumps are on DEXes. So I feel we need to revamp the scope of our project with an exciting roadmap. Publish it everywhere and boost the marketing. The pump will come automagically.
For CEX if pillar project add value to the space it will be automatically listed. Binance ceo said in a interview that he listed a token when he see big demand to don t miss the fees charge revenue and offer opportunity for customer to get the token .
I think we should try to get listed on Coinbase, go big or stay at home. We’ve had several people on discord complain that they have a hard time buying the token. Very few tokens get listed on major exchanges without some kind of application or initiation from the token community itself. I think it is wishful thinking to think that once utility is demonstrated CEX’s will list the token on their own. The benefit of spending the money to get listed is tremendous accessibility, hopefully to coincide with utility. I don’t know of any token that has suffered from being listed on Coinbase, if anyone knows please share. If we’re shooting for the moon and miss at least we will land in the starts.
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While this is an action I would support in the past, now I have to disagree with it and here is a couple of reasons.
Listing fees for big exchanges is quite hefty and is a risk that can prove much more costly than effective, especially if there is no proper outreach in terms of marketing. However, since we will have a proper marketing campaign this issue can be avoided and can prove as a good decision. For how long though, that is something we or anyone else cannotknow.
Big difference that I have against CEXes are the constantly evolving and improving Decentralized Exchanges. In the past when DEXes only worked on the mainet and had constantly rising fees I would choose CEXes instead as well. With the implementation of Etherspot, Pillar will have the ability to choose alternate paths in terms of multi-chain solutions which offer significantly lower fees compared to mainnet costs which are unsuitable right now. While CEXes might server as a good temporary solution, I believe they will soon be outgrown by the DEX providers since it avoids CEX fees and the need for KYC.
Keep in mind this is my personal opinion and not the opinion of Pillar as a whole, we’re always open for discussion related to this and if the community believes this is the way forward, it can be done.
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Well I guess I’m late to this party here but I’ll leave my short opinion and continue to hope for the best.
I am in favor of researching to better understand all options for CEX listings.
In a perfect world, I would love to see the wallet at the stage where we have a functioning wallet, growing user-base and a real demand for the PLR token. When we achieve this, it would be nice to know our options and leverage our success toward obtaining the best possible listings. Both CEX and DEX are just markets for users to efficiently gain access to the token. If we are going to create a real need for the token, we must make sure we have access to as many markets as possible. Keep in mind, everything here is within reason. I’m not asking for unrealistic efforts but rather more organic pure growth on both sides. So in the end, I would support a listing that will move us closer toward our goals.
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On our most recent weekly call @jackbass indicated the cost to get listed on a prominent CEX would be around 1.5M plr, less than 2% of the DAO’s budget. As a possible analogy, it’s not uncommon for businesses that accept credit cards such as VISA and MasterCard to be charged 2% (or more) of each purchase. Why do they do this? For customer satisfaction, convenience, and possession utility. I think it’s worth the effort and cost to get listed on Coinbase.
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@vmelvin , I could be wrong but I’m not sure Coinbase could be an option. So many large cap projects are still trying to get listed there and the acceptance threshold is extremely high for coinbase. I personally would be fine with just finding a exchange that serves US and other clients and seems to have decent options as @Bitcuriousmom commented on the last call. I think if we get on one decent exchange, others will follow with free listings once demand increases.
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- Support, large CEX marketing is the most effective marketing
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I know many people want this happen. Can we make a poll or vote about this?
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Way ahead of the curve which led to the fact no one knows about the project outside of those who participated in the ICO. CEX is the way to go if you want to get recognition and participation.
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It will be super easy to get on a CEX once the wallet and project get more publicity and traction, the issue is that projects have to pay a large listing fee if the market awareness of the project is at early stages and the token has less liquidity.
It seems the community wants to revisit this. Let’s see if we can address some of these questions.
what’s the cost? It has been discussed on governors calls that the cost would be approximately 1.5M PLR or 1.5% of the original DAO budget.
what’s the potential outcome of paying this cost in PLR? Since we are talking about Binance here, the Binance effect is roughly a 32% increase in token price after being listed. Binance Effect: Why New Coins & Tokens Added to Exchange Spike in Price (bitcoinexchangeguide.com)
what are the legal/compliance risks for conducting this as a Pillar Foundation initiative? This is a DAO initiative not a foundation one.
what are the legal/compliance risks for conducting this as a DAO initiative? I personally have no idea. We are self governed so why would there be legal implications?
what’s the expected outcome? Token price increase, brand recognition, consumer access
what can we learn from similar tokens listed on Binance? The Binance Effect.
Let’s take a soft vote for a listing on Binance. (not my first choice by the way)
Should Pillar pursue a listing on Binance?
- Yes
- No
0 voters
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It was necessary to go to Pillar because otherwise people wouldn’t know about Pillar.
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