Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Ananya Bushra on August 02, 2023, 11:09:28 AM
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Frequently, I encounter 'deposit to list' events on various CEXs, especially during their growth phase. In these events, the CEX requires a specific amount of deposits with a particular token within a set timeframe. If the threshold is met, they list the token on their platform and often provide big rewards to the depositors. I'm curious to learn about the benefits for both the CEX and the investors participating in these events.
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Deposit-to-list events are organized by exchanges to fulfill the liquidity requirement of a specific cryptocurrency. These events come with a prize pool to incentivize depositors who participate in the event. There's currently an ongoing deposit-to-list event on Bitget for Grimace coin with an $8,000 GRIMACE prize pool. Ensure to DYOR before participating in the event.
In addition, listing new tokens through deposit to list events can attract more traders and investors to the exchange. This increased trading activity can lead to higher liquidity for the newly listed tokens, making it easier for traders to buy and sell them at competitive prices.
The aforementioned exchange is amongst the few exchanges that has a wide geographic reach, which will allow the project to tap into new markets and reach users from different regions around the world
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From what I have observed, the deposit to list events often give participants opportunity to participate in the token listing earlier enough to benefit from good price increase after its listing. It also gives participants opportunity to participate in airdrops on-time, just like Bitget does.
It also gives brand awareness of the platform on which the token is listed so new participants that are interested may join.
Usually, they are good ways to encourage new projects that are just made and potential ones too.