Hello all, let’s make:
Trading Competition - $50,000 in Wing to Be Won
as a promo on the Binance exchange.
As a result:
So, thanks for your attention, let’s discuss.
As example: https://www.binance.com/en/support/announcement/cc9d4dd897df432fbfba958d310c6804
I think we should host all or part of the trading competition on uTrade at https://ontology.unifiprotocol.com.
This way, revenue from transaction fees go to WING/ONTd liquidity providers instead of Binance. Thus incentivizing more WING buying to add liquidity to earn a share of the revenue, which decreases slippage which leads to more trading which leads to more revenue for WING/ONTd LPs. A positive feedback loop for price, depth, network activity, and revenue.
You are absolutely right about liquidity provider rewards, slippage, etc.
But you are talking about uTrade - I don’t even know what it is, and millions of potential users and traders (Binance user base) don’t know either.
That is why I suggested this platform(Binance), as an addition to the previous “Launch Pool” on Binance, while Wing is on the rumor, it would be a very good move to launch a trading competition. Launch pool gave a very big kick for the Wing ecosystem & adoption.
So.
Utrade - the best choice for ONT users. (To earn on this competition)
Binance worldwide brand and media - best for the whole ecosystem grows.(Media, new users etc.)
I look positive at passing this offer right now. The current wing is from a trading point of view and December is looking for a good direction.
Yes, when bitcoin will go on correction after we expect to see flat, alts should perform huge movements.
That is pretty good idea we should do this
Hm no, uTrade is not just the best choice for ONT users, it is also the best choice for WING users.
Because, as more trades happen on WING/ONTd on uTrade, more profit goes to people who lock their WING on uTrade. Thus increasing buy demand for WING.
On the other hand if you do a trading competition on Binance, you increase trading volume for the duration of the competition, then it quickly returns back to the normal afterwards. Traders get in, then get out, buy demand is cancelled out by sell demand, and the price may or may not move up or down. The biggest upside is marketing from Binance, a temporary volume spike, and eyeballs from traders, but to them it’s just tickers on a screen. Very unlikely they will withdraw WING and use the platform, which is the goal for sustainable long-term growth.
I’ve been a part of Binance trading competitions before for other tokens. The one who really profits is Binance.
Despite all this, more and more projects are creating similar competitions on Binance.
Yeah I know a lot of them who end up regretting it. Everyone thinks it’ll work until they do them.
Okay, I agree with you and will not insist on the Binance anymore. What about such competition on Utrade, how to your mind we can attract the attention of new users?
Trading competition on UTrade is a interesting idea. but I’m not sure about the liquidity to be enough for a competition
Absolutely we need this project in public site and no one cares about Utrade yet. Wasting money on utrade would not be marketing. It would be useless. Binance competition will lead to more volume. Traders are attracted to coins which are already running. Remember always long the strongest and short the weakest. So please at least take this to vote team.
we don’t care we just need publicity that’s the point you guy are talking about influencer approach for like 1 months too long is the team having a marketing director if no we need one right now
The “we don’t care we just need publicity” leads to trying anything to see what sticks with no approach.
We are being very methodical as the choices we make with the allocated marketing funds are under extreme scrutiny by the community.
Yes we have a marketing director and a marketing team of at like at least half a dozen people.
I think maybe we can start a liquidity mining campaign to make Utrade’s WING liquidity sufficient, and then hold the WING trading competition.