Hello community!

We are extremely excited to announce a new exchange partnership. As you know, we have recently conducted a crowdfunding campaign to gather enough resources for another CEX. Thanks to all of you, this has become possible. We value each individual who contributed, whether big or small. Thank you very much.

Our goal and strategy are to expand our presence on more mid-tier exchanges because, in doing so, we provide ourselves with the ability to apply for top-tier exchanges at a later stage. This will help us reach a wider audience and achieve even greater success.

By expanding on more mid-tier exchanges that are active in specific regions where we have a low user base, we will automatically grow our community. Additionally, by having more mid-tiers, we will be able to execute our MarketMaker strategy to gain volume and minimize spread across the market, providing all users with a better trading experience.

What has been done so far?

Thanks to all of you, we’ve received a total of 5.3B NEX donations, which is enough to get our first exchange done. As mentioned in previous articles, we’ve been doing our utmost to ensure that those coins don’t hit the market.

Considering the recent increase in Nexa’s price, we have employed the Dollar-Cost Averaging (DCA) out strategy to minimize value risks while trying to maximize potential. This led to the following Over-The-Counter (OTC) sales of both 2.5B and 2.2B coins in total.

• We sold 2.5B NEXA via OTC at 0.000008, worth $20,000 USDT
• We sold 2.2B NEXA via OTC at 0.000015 worth $32.000,- USDT

This means that we now have a total of $52,000 in USDT to fund our upcoming exchange.

There is still about 600M NEXA left in the donation wallet, and given the current exchange costs, we will have a small surplus from the above-mentioned numbers. Therefore, we already have a starting budget for a second exchange, although we do need to fundraise more to make that happen.

Recap of the exchange requirements:

The requirements for the exchanges are that it will;

• Be a top 20 CoinGecko exchange,
• provide more on and off-ramp options for our users,
• have a decent amount of followers and engagement on X,
• provide a co-marketing campaign,
• have no requirement for us to provide ‘marketing tokens’ they can dump on the community,
• have minimal market maker requirements,
• have a daily trade volume of at least $500m — $1B.

The CEX:

We are very excited to announce that the first new mid-tier exchange is BingX who is among the top- tier 2 exchanges.

Founded in 2018, BingX is a global digital asset, spot, and derivatives trading platform that provides a user-centric and open ecosystem with intuitive social trading features. Created to enrich the entire cryptocurrency industry, BingX is a safe, reliable, and user-friendly venue for users to trade their favorite assets.

The company has licenses and registration certificates from Australia Trading Reports (AUSTRAC) and the Monetary Authority license of Lithuanian.

We decided to go ahead with BingX for various reasons. BingX offers a variety of additional values to our project. This includes co-marketing activities with Key Opinion Leaders (KOLs) that will help promote Nexa in regions where we don’t have a giant user base. BingX will bring us a lot of value in regions like Asia and Australia.

BingX has a 7.7M monthly visitors and about 200k twitter followers.

At the moment we made the deal, BingX was ranked as the 11th highest cryptocurrency exchange as per Coingecko. As of today, BingX is ranked 12th (basically 11th, if you exclude Binance US..).

We are scheduled to be integrated around the end of December, subject to unforeseen events, and are organizing co-marketing activities in the weeks leading up to the listing event.

What’s next?

We would love to get listed on even more exchanges, but we need your help for this. Currently, Martin is negotiating with an exchange that is also considered among the top of Tier 2 exchanges. We are looking positive to have a deal done. However, we still need your help here, more than ever — given that this exchange is quite a bit more expensive, and in theory, we’d need to raise an extra 60k USDT worth (5B NEX at current pricing).

Hence, we encourage you to keep donating and helping us achieve our goals. Together, we can build a stronger and more vibrant community, and ensure the long-term success of Nexa.

We believe that our success so far is a testament to the hard work and dedication of our team, as well as the support and feedback of our loyal community. Thank you for being a part of this exciting journey with us!

Useful links:

• Nexa
• Chainge
• Otoplo
• Nexscript
• Nexscript Telegram
• Twitter