Summary
This proposal requests treasury funds to hire professional market makers for one year to provide liquidity services for the BNC token. This service will cover seven major exchanges: AscendEX, BingX, Gate, Kucoin, Lbank, MEXC, and XT. With this service, we aim to increase BNC's market depth, decrease price volatility, and improve overall liquidity, thereby encouraging market adoption and community growth for BNC.
Proposal Objectives
- Improve Liquidity: Provide consistent bid-ask depth for BNC on 7 exchanges, aiming to reduce the average spread by 20%-30%.
- Increase Trading Volume: Attract more traders through stable liquidity and increase BNC's daily trading volume.
- Reduce Volatility: Reduce extreme price fluctuations and enhance market confidence.
- Promote Ecosystem Growth: Provide a better market environment for BNC holders and developers, supporting the long-term development of the project.
- Compliance and Transparency: Ensure all services comply with exchange regulations and regularly report performance.
Service Scope
- Exchanges covered: AscendEX, BingX, Gate, Kucoin, Lbank, MEXC, and XT.
- Service Content:
- 24/7 automated market making algorithms to ensure deep order books and tight spreads within 0.5%.
- Optimize liquidity pools to reduce slippage on large trades.
- Monitor market dynamics and adjust quotes in real time to mitigate volatility.
- Risk Management: Utilize hedging strategies to avoid significant losses.
- Reporting: Monthly liquidity reports including trading volume, spread data, and performance metrics.
- Service Term: 12 months (one year), effective from the date of funding and contract signing.
- Service Standards: API integration with exchanges to ensure efficient execution. Market makers must adhere to the compliance requirements of each exchange to ensure all operations are legal and transparent. The service will include 24/7 monitoring to accommodate time differences in global markets.
Proposal Execution Details:
- Request: $85,500
- Based on the 7-day (10/15 ~ 10/21) average day close price of DOT $3.01, a total of 28,405.31 DOT
- The request token will be vDOT, 1 vDOT = 1.56729 DOT (2025/10/21)
- Request in vDOT: 18,123.84 vDOT
- Beneficiary: 133VgJJgp1s9wxLqgCFxYx6T873hZQNchJM9tmbU6NkYaaqW (Bifrost Foundation)