Edgeware pioneers DAO listings on Kucoin Exchange, opening first trading pair.
The chain-DAO opened an EDG/USDT pairing on Kucoin in an experimental governance success for the smart contract platform; a result of new industry processes for DAOs that request token listings on centralized exchanges.
Edgeware, the longest-running mainnet platform in the Polkadot ecosystem, has listed on a second community-approved exchange in an arrangement conducted by community members and funded by the network's on-chain treasury, a new and powerful feature of on-chain governance.
Originally developed with the assistance of core contributor Commonwealth Labs, the proposal was passed to the responsibility of Edgeware.Agency, a DAO-like organization of community leaders and reputable members.
The process itself used a combination of multi-signature wallets, public audits of transactions, and unique funding proposals that obtained the secrecy demanded by centralized exchanges in pre-listing phases, yet offered minimum viable information that allowed the decentralized community to move the listing forward while assessing the merits and costs to the public.
The proposal costs come from the Edgeware Treasury, which currently holds over 600 million EDG and is governed fully by all participating EDG holders. The pool accrues from transaction fees and a portion of new inflation, and proposals are assessed using coin-voting.
The network accepts funding proposals with the aim to self-sustain the network through the development of both public goods, including exchange listings and public infrastructure, as well as private teams building technologies or returning utility for the network in an incubator-like offer to applicants.
The March 25, 2021 proposal to approve the Kucoin listing (then obfuscated as "Exchange C" in order maintain secrecy,) garnered 23.9 million EDG voting to approve, with 0 EDG against. EDG holders can look forward to new pairs added to Kucoin as the listing matures, including EDG/BTC.
About Kucoin
KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown to become one of the most popular crypto exchanges and already has 8 million registered users across 207 countries and regions around the world.
Known as the "People’s Exchange", KuCoin operates in Seychelles, providing its utmost to establish multilingual communities for its users as well as 24/7 customer service. Meanwhile, KuCoin has established about 20 local communities in North America, Europe, SEA, and other regions, providing users with highly local services.
KuCoin supports over 420 projects with 790 trading pairs, earning it the title of the home of crypto gems. Several projects like ICP, BOSON, AERGO, RNDR, and DAO had their primary listing on KuCoin.
In November 2018, KuCoin announced $20 million (USD) Round A funding from IDG Capital and Matrix Partners. (Source)
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About Edgeware
Edgeware is a community-owned fair-launch smart contract platform built on Substrate. The network showcases robust on-chain governance and a collectively-managed treasury, enabling EDG holders to fund and incubate new teams and projects using both EVM and wasm Smart contracts.
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