Hello everybody,
I was thinking of possible the ways to increase liquidity in the market so we can attract more investors to wing coin. I suggest we adapt cardano model and sign deal with companies like Algoz or similar to increase the liquidity. Cardano signed a deal with them back in june 2019 . Every since they are attracting investors and they are growing non stop.
"AlgoZ is a market maker solution service created by Fingenon Group for unlocking liquidity for crypto assets. By leveraging Fingenom’s existing world-class infrastructure, trading strategies, algorithms, and combined knowledgebase, AlgoZ has developed into a solution that bridges the gap between the established algorithmic trading of traditional assets and the emerging class of crypto assets. AlgoZ is currently being used by exchanges, crypto projects, and other stakeholders in five continents.
In the year-to-date period, Cardano’s trading volume has skyrocketed from $17.25M to $116.79M USD to mark a 594% increase in trading volumes in just six months."**
Liquidity relies more on circulating supply. For WING, it’s about 900k now, and increasing 3k daily. With addresses tracking, we know that about 400k WINGs are in Binance and 300k WINGs are in Wing platform (supplying+locked+insuring+unclaimed-borrowing).
To a certain extent, I agree with your view that increasing trading volume can increase investor interest. But I think Erick’s proposal is more attractive at the moment. He suggests that we directly give WING incentives to the trading pair liquidity providers of DEX. Under the current circulating supply of WING, I think this one is more direct and economical.
His proposal is risky one and confusing . I am in this space way longer than most . You are just focused on short time frames when we discuss about supply. 800k supply is plenty for the moment.
Let me give you example.
Person A is an investor who holds about 1million is his/her account. Looking to invest in a coin. At the moment this amount 1mil/13 usd = roughly 77k wing coins (at $130 this will be only 7.7k wings)… If person A is able to successful accumulate 77k over time , it will be difficulty to sell at the market given liquidity… They may even crash the price. So person A choses more liquidity coins like bitcoin or ether or xrp etc. So we lose one huge investor that could benefit the system. I personally know couple high profile traders that personally my real life friends that back out of wing just because of that.
As of last year I have watche cardano grow day by day. They were thinking exactly like you. Then they hired this company … This was the only major difference by then. All of a sudden they hit 10x the value. Attracted investors, day traders, new traders, die hard fans.
Think about this If we increase liquidity and bring investors, price may easily reach over $100 .But we have to show them they can sell if they need to… at $100 per coin 800k supply will be more than plenty. at $500 you are in top 20 and you bring more investors. Imagine the news Wing coin made deal with liquidly provider A… This itself will be free promotion everywhere.
I suggest you take this proposal seriously and observe cardano’s model. This could change things really fast… Eric’s proposal is interesting but focused on short term again. Personally If this happens I will drastically increase wing coins in my portfolio.