RE: SPS Governance Proposal - Contract Market Maker for Crypto.com
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Hey, thanks for the initiative, as always. I have a couple questions:
1-Does it make sense to spend $42K on curating a $40K pool for a year? How much volume do you expect from it and that will mean any revenue? It's hard for me to understand why to pay $42,000 USD for a Pair...
2-Related to 1: Will not be better to live in DEXes like Sushi / Cake and (whatever the good one is in Solana)? Cheaper? Reaching more people?
Sorry if this kind of questions were answered before. ty again
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This is an outright expense. We are not going to make money on this. It's simply to help boost liquidity on the exchange so that people can actively trade and raise the volume and help us avoid being delisted.
I did a detailed breakdown on this topic on a previous post here:
https://peakd.com/sps/@clayboyn/a-discussion-about-sps-exchanges-and-market-makers
Thanks a lot! You make a great job man
I agree... not worth it. The big winner of this proposal is the exchange, which is guaranteed to profit $42K.
If you're going to burn that much money, I'd rather you buy $42K worth of SPS and just burn it all immediately.
As far as onramp or offramp for SPS... it can be achieved with the HIVE token on an exchange and converting to/from SPS on the hive blockchain.