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Uncover the inside story of the exchange: how is the bitcoin Exchange listed?

Time : 21/07/2022 Author : nfzuv8 Click : + -
        Before the birth of the exchange, early bitcoin transactions could only be traded in forums such as bitcointalk or used social software to find buyers and sellers. Such over-the-counter transactions had high security risks and low efficiency. It was not until the emergence of the exchange that the information island of bitcoin transactions was broken. Since its birth in the past decade, the exchange has been playing the role of promoting digital currency transactions, price discovery and providing liquidity. It is the financial intermediary required by digital currency, and provides a network-based centralized gateway for the buyers and sellers of digital currency to manage funds. In the blockchain industry, the project party needs to improve the liquidity of project assets and attract more users to participate through the exchange; Investors conduct digital currency transactions through exchanges; Pit miners also need exchanges.
 
        The profit of the exchange is mainly composed of transaction handling fees and project listing fees. In the bull market of cryptocurrency, relying on transaction handling fees and listing fees, the head exchange can basically achieve a huge profit of daily progress. However, it blindly pursues the listing fee and neglects the quality of the project. To a certain extent, the excessively high listing fee turns away many high-quality projects that "seriously study and pursue innovation". Instead, air projects that are "keen on marketing and code copying" make a lot of money through the online exchange, which eventually leads to the expulsion of bad currency from good currency. Due to the high listing fee, almost all the first-line exchanges are involved in the listing business, and most of them are inevitably subject to criticism.
 
        In 2020, the mainstream media's attitude towards bitcoin will change from blindly denying to being objective and neutral; The world's first central bank digital currency issued by a sovereign state was also launched last year; Wall Street institutions from wait-and-see to establish investment funds; Various signs indicate that the digital currency industry is gradually expanding its influence in the mainstream world. Disorderly and reckless business ideas will be eliminated after the regular army and professional investors enter the market. The exchange began to realize that only by conscientiously performing its core functions and industrial responsibilities can it promote the healthy development of itself and the industry. Only by providing high-quality services can we enhance user stickiness and become a world-class exchange. Take coinex, a new tier exchange, as an example. Coinex was founded in December 2017, at that time, it was in a period of endless negative news about the exchange's currency listing.
 
        Coinex, as its name implies, "coinexchange" is a Chinese translation of the currency exchange. From its brand name, it is not difficult to find the core operation idea of the team focusing on digital currency trading services. After many years of operation, coinex still adheres to the core business philosophy of "focusing on spot trading, supplemented by derivative trading" when many exchanges begin to seek other outlets. As the founder of coinex said, it is the fundamental significance of the exchange to screen high-quality innovative projects for users. The exchange exists to meet the needs of project parties and tens of millions of trading investors. If we deviate from the listing itself, the existence of the exchange will become meaningless.
 
        In the concept of coinex team, the concept of "coin on" does not mean simply launching a certain digital currency. The real meaning of "coin on" is to screen high-quality innovative digital assets for users, not blindly pursuing quantity but ensuring quality. To carry out this concept to the end, in 2021, coinex upgraded its brand slogan to gather innovative digital assets as the future development strategy of the exchange. Coinex will change the coin listing strategy from all aspects of the coin listing screening, research and review process. Therefore, the coin listing process of coinex will be more complicated and rigorous than that of other exchanges. Coinex has a digital currency Research Institute. First, the Research Institute will collect projects through mainstream information channels at home and abroad, and then select potential innovative and high-quality projects from the collected digital currency projects as candidate projects.
 
        Next, the Research Institute team will carry out internal division of labor, and each person will be responsible for investigating several different candidate projects. It mainly analyzes the project from the aspects of investment background, team, technology, concept, innovation degree, economic model, prospect and risk assessment. After the investigation, the project will be graded one by one. Finally, the items with high scores are screened from many candidate items to enter the review process. Coinex also has multiple audit mechanisms. Representatives of operation, finance, market, technology, products, legal affairs and other representatives will participate in the project audit. Only the projects that pass the audit can be officially launched on coinex. Projects that want to launch coinex also need to go through the above screening, research, review and other multiple processes after submitting the application for currency listing.
 
        Coinex ensures that all projects launched on coinex are screened by the project research institute and reviewed by the currency listing committee. The dual review mechanism ensures that every high-quality innovation project is not missed and the investment risk of users can be minimized. After setting a set of strict rules for coin listing, it is not difficult to find that the project currencies on coinex are all very high-quality. In December 2020, coinex launched 14 currencies including Kun, near, woo, cover, hegic, kp3r, kava, ghst, GRT, lon, api3, 1inch, iris and Luna.
 
        Looking at the above projects, there are highly innovative projects such as the head DEX of the defi field, the trading dark pool, the innovative stable currency, the search engine in the blockchain field, and the defi insurance category, which have good performance in terms of investment return, project innovation and project potential. After the launch of coinex, these projects have been favored by the leading exchanges in the blockchain field and launched first-line exchanges such as bitcoin and Huobi. It can be seen that coinex has reached the top level of the blockchain industry in terms of innovative project screening ability and has the ability to provide users with high-quality innovative projects. In the case of coinex, the exchange has experienced several stages of enchanting, questioning and disenchantment in the development of blockchain in the past ten years. With the development of the industry, it has become more standardized and began to take the initiative to shoulder the responsibility of the exchange in promoting the development of the industry and put the responsibility of users in the first place. This is the maturity of the exchange and the trend of the industry towards benign competition in the future.
 
        
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