Auxilium (AUX) exchange listing update (1)
We're sure you're interested to know more about the exchange listing process and progress.
Auxilium has been listed on Mercatox (buy AUX) since the MainNet went live in the summer of 2018.
Since then we've seen a bearish trend across the cryptocurrency market, and a shift in the market when it comes to exchange listing requirements and procedures.
Auxilium Global and blockchain partner Applicature have been working together on a listing strategy.
To cite Binance CEO Changpeng Zhao: " If you are eager to tell your community that you applied to Binance, you can use the image at the top of this article (ref. to LinkedIn). It just says you applied to Binance, nothing more."
So far we've applied to multiple exchanges through the regular channels; top tier exchanges to be more precise. The estimated time needed to assess (if they choose to assess your project) and reply - according to the individual exchanges - varies. Some keep to 6 weeks, others to 90 days. Realisticly we prepare ourselves for at least 3 months of processing.
Additionally we've a handful of contacts within exchanges; including contacts with management functions. This doesn't mean that we don't need to check all requirements, but does mean we have direct contact and will receive feedback sooner.
Having a proper network - like Auxilium Global - gives a lot of insight in the market and necessary steps to undertake. At the same time the experience is that the majority of exchanges expect a listing fee up-front, or fees for market making, marketing or other services.
The need for an up-front payment brings an extra challenge. We're looking into options to overcome this hurdle.
We'll contact several funding platforms to inform about IEO (initial exchange offering) or similar ways to present AUX to a large community of crypto enthusiasts in order for us to fund a future top-tier exchange listing. If we choose to perform an IEO or similar funding strategy we'll always keep the current holders of AUX in mind (i.e. everything we do is with the intension to build value in order to reach our goals).
The potentially large (everything between 250.000–4 million USD) listing fee is a hurdle as we didn't conduct an ICO or similar yet. We're very positive about our projects fundamentals. Exchanges have replied positively, and so far didn't have any negative comments. In our eyes logical as we offer users a superb experience with many technological and socio-economic advantages over traditional PoW and PoS cryptocurrencies.
We'll keep you updated as soon as we've more news.
Read more, join our socials, and consider buying Auxilium coins (now AUX is still very much undervalued)!