Proposal : Listing on Binance or Tier 1 exchanges

As we all know the bull run is very close. Unfortunately, any protocol must be listed on a CEX for widespread adoption.
Retail will be out hunting for low-cap gems soon to build their positions and the first place they look at are places like Binance and Coinbase.
Since the Lenfi team has amassed a huge DAO treasury, we are uniquely positioned to have sufficient funds to pursue a tier 1 listing.
Binance is either available in most countries or owns stakes in CEX’s around the world, getting listed there will open up multiple regions with one listing itself.
AGIX is currently the only CNT available on Binance.
IAG has hinted at multiple Tier 1 CEX listings coming soon.
Lenfi is close to claiming its position as a leader in lending and borrowing with the release of V2; a listing will cement this further.

  • Use DAO funds to pursue a Tier 1 CEX listing
  • Do not pursue a Tier 1 listing
0 voters
7 Likes

Im not a fan of just doing something because someone else is. I am also not concerned with the current token price nor am I seeking exit liquidity.

Hard no from me.

5 Likes

Tbh I’m happy with see dex for now. The lenfi project has done just fine without a Dex up to now and I see no pressing set of circumstances to submit a Dex listing at the moment. Good luck with the proposal.

1 Like

Understandable.
The motive of listings is not just price, it’s adoption.
Listings take us mainstream and open up a lot more liquidity, if we have more users of the protocol, the more it grows.
Without a listing Lenfi growth will be capped.

6 Likes

Lenfi has done well uptill now, no doubt about that.
Listings do not happen overnight, if we start working on it now maybe we get listed a few months from now.
It’s about being future ready.

2 Likes

What project (not an L1) has actually increased adoption from listing in a tier1 cex?

Your adoption sounds like new buyers of the token/liquidity injection into token price.

Uniswap, Pancakeswap, AAVE to name a few came to the forefront only once they hit teir 1 exchanges.
Getting new buyers is a metric for new users.
If we are not in CEXs, people will not hear about the project and will not use it.
Without new users the growth will be capped.
This is a fact.
The logical next step is to get listed on exchanges, you cannot deny that.
We can debate about the way to get there, but getting there is essential.

9 Likes

Sounds good when the price is in a healthy uptrend. I dont see the point to do it right now with the price declining & volume is super low. If lenfi starts defi summer again that could be a great time to secure a listing but right now doesnt make sense to me. So I like the idea but the timing isnt right imo.

2 Likes

@RV26 FYI If this proposal gets approved both off-chain and on-chain, then I expect you to take matters into your own hands and handle the listing requirements, documentation, contracts, etc. By mentioning the likes of Uniswap, Aave, etc., I hope you understand they didn’t get a listing just by submitting a proposal by a DAO member.

FYI I would just like you to know that no DAO member can legally even approach an exchange for listing.
It has to be the CEO or founder.
I don’t know what you mean by this comment.
I would be happy to handle everything all that needs to be done if I’m appointed as the CEO…
Whats the point of your comment?

Things like listings take time, if we can start the process soon we will have a head start

1 Like

If it must be done by the founder, why do you think a DAO proposal can force him to do it?

Isn’t that exactly the point of a DAO?
If not , then it’s just semantics.
The community decides which direction to take the project.
If the community is so opposed to take Lenfi to CEXs, it’s very very concerning.
Growth will be capped.

No, don’t mix protocol ownership with token ownership. The team does not own the LENFI token. With this being said, the process is expected to be the other way around - if the team feels there’s a need for a CEX listing, they can submit a proposal and ask the DAO to fund the listing with treasury tokens. You’ve given examples of other projects that have been listed on Tier 1 exchanges, but you didn’t provide any information about HOW they did it, i.e. where did they get the funds from (team tokens, treasury tokens or other allocations/funding?). Most importantly, you didn’t provide any information on HOW MUCH such a listing would cost the DAO. What if Binance asks for $5,000,000? What if they ask for $10,000,000? + Did you account for the liquidity that will have to be provided because you wouldn’t expect Binance to simply buy LENFI off Minswap, right? This is wrong on so many levels, and while I’m not against a discussion, putting up a poll is a decision a bit premature.

4 Likes

If the team can decide to make a proposal to use DAO owned tokens to fund CEX liquidity, it can work the other way around too.
In order to get the exact amount of money required to get a Teir 1 listing and liquidity requirements we will need the Lenfi team to get in touch with Binance or get an agency on board.

Why propose paying for a service and then ask the team to ask for the price? This doesn’t make any sense. You should have laid out the possible listing exchanges with a rough estimate of the cost, if not at least rough estimates. Also, should have listed additional requirements that they might have. First of all, how do you determine which exchange is Tier 1? Volume, number of tokens, legal compliance…? And how many tokens would the DAO have to give each CEX to potentially create an AMM? Let’s not talk about how many LENFI the DAO would have to dump on itself to pay for a listing fee.

2 Likes

no offense but this proposal is way too generic. level of information is naah … shouldn’t even be allowed to be put to vote under those circumstances

3 Likes

Firstly the team is the only one who can fill up a direct listing form.
Nobody else will be entertained.
Second Binance doesn’t have a fixed listing fees.
Thirdly they have purposely kept listing requirements vague and unclear so that projects don’t reverse engineer it.
The proposal is to use DAO funds as liquidity.
There will inevitably be a small dump but that shouldn’t be the reason why we don’t pursue CEX listings.
And lastly Teir 1 is based on Volume, Userbase and reach across the globe.

I’m unable to upload screenshots from Binance website here.
You can check it out using the link below.

2 Likes

@neophyte think for practical purposes the duratuon of the mandate for this proposal (assuming it passes onchain) should be set to 6 months.

If after 6 months theres no real progress from the CEX then the team should be considered as having fulfilled this proposal.

we should not list yet we should list in bull but if we vote we should know this could be pre aproved for the team to add when the time is right

1 Like