Community MEXC Crowdfunding Campaign
The MEXC crowdfunding was completed in Mid-February and NEXA was listed on MEXC Global on March 7th. This is a testament to our strong community and committed development team!
Current Exchange Situation
Unfortunately, in late January, Exbitron was severely exploited by a hacker and customers’ USDT funds were stolen, putting the exchange trading on hold. While Exbitron seeks to come back from this set-back, and pay back customers in full over time, their reputation and trust has been damaged. This has put the Nexa community and project in a difficult situation as there is need for a more trusted and professional exchange to trade Nexa. The community is demanding a new exchange, but not just any exchange, a higher-tier, reputable exchange that all can utilize with a higher level of trust and accessibility.
New Exchange Options
Over the past week, the Nexa team, led by Paul, has diligently been interviewing exchanges to evaluate our options. We have spoken with official representatives from MEXC, Gate.io and KuCoin to understand the listing requirements and fees in order to implement Nexa on these exchanges. While these exchanges are costly, and some require legal opinions and contractual obligations that would be difficult to obtain in our project’s infancy, we have found an exchange that we believe fits the needs of the Nexa community. We feel the price tag is reasonable and will be able to be fundraised by the community in order to make this next step happen. This exchange is MEXC.
Listing Requirements for MEXC
We tried in good-faith to negotiate the best deal possible with MEXC. Our initial goals were based on other projects previously listed on the exchange who shared with us their listing fees and requirements. Although we were not able to get the exact deal we wanted, we were able to get some concessions from them on the fees and requirements. Every project that is listed is held to a different fee structure and requirement, and here is the ultimate deal we were given:
$100k USDT Listing Fee
- $50K USDT directly to MEXC
- $50K of that USDT to purchase NEXA on the market and use in joint marketing, social media, and giveaway campaigns.
$30k USD total of Market Making
- $15K USD worth of NEXA (~1.5B NEX at current prices)
- $15K USDT
These funds to be managed directly for Nexa by a third-party market making firm, Skynet Trading (https://www.skynettrading.com), to create a healthy market, reduce spreads, and add to liquidity. We were able to choose the company we would be utilizing for this function. TOTAL
- $115K USDT
- $15K USD worth of NEXA (~1.5b)
Why should the Community Donate?
The community has been vocal in asking for this higher tier exchange. As a fair-launch, no premine, no ICO, community project, we can all see the value and potential we hold in Nexa. We understand the need for a higher tier exchange so that all can freely and safely buy and sell Nexa. We ask that the community comes together in order to raise these funds and help the project to realize its potential. With the size of our community, this goal should be easily attainable and allow us to obtain the listing. Once on a new, larger exchange, we expect to validate to new prospective community members the value in Nexa. This will attract new investors who were weary of buying on a third tier exchange, helping Nexa to reach more users, and helping your investment to grow. We are hopeful that our community will be motivated and excited about coming together and making this happen! In addition, the 137 team has let us know that they will kindly point the donation portion of the Pool137 (https://nexa.pool137.io/) mining fees to Nexa donation addresses for community fundraiser events such as this one.
How will the Community Fund be Managed?
The donation wallets will be managed by one of our faithful leaders, Paul Church. Paul is a respected and doxed member of the Bitcoin Unlimited and Nexa team and has been in his role for many years. Once the total funds are gathered, Paul will work directly with MEXC to transfer the funds and help get Nexa implemented on the new exchange. Each implementation is unique, but it is our estimation that listing should happen within a couple weeks of providing payment to MEXC.
If we receive more than the required amount this will be put towards the Nexa growth plan.
If You Have Other Cryptocurrencies
If you are outside the USA you can also use the widget below to send most other cryptocurrencies and we will receive USDT.
margin: 0 auto 1rem auto;
padding: 0.75rem 1rem;
border-style: none !important;
border-style: none !important;
<button onClick="window.sideshift.show()" id="sideshift-modal-button">
Convert To USDT