Fund Raising at: https://btcz.me/IndodaxVote (read on for details)
Despite solid technical features, BTCZ still lags behind in terms of awareness, adoption, and liquidity. To improve on this, as a community we should strive to get BTCZ listed in as many reputable exchanges as possible.
To this end, we want get BTCZ listed on IndoDax (https://indodax.com/).
Some stats on IndoDax:
- About $30 million in volume per day
- Usually ranked around 40th on Coinmarketcap
- Only has 15 fiat/crypto pairs and 10 BTC/crypto pairs.
- Has brick and mortar offices in several cities in Indonesia
- Over 1.2 million members, with much potential to grow (Indonesia has a population of over 250 million).
- Offers interface and customer service both in English and Indonesian.
- Indodax currently charges fees only on the “taker” side of an order, so potentially you could trade for free.
Mission Statement or Vision
Beginning Monday, April 30th thru May 7th 2018, IndoDax will hold a community vote to propose new coins. Details of this vote can be found here: https://help.bitcoin.co.id/en_US/community-coin-voting/
Our mission is to get the BTCZ community to participates as fully as possible, in order to maximize the chance that BTCZ will get listed on IndoDax.
Objectives to be achieved
We wish for the BTCZ community to give enough votes to BTCZ to ensure listing at IndoDax. Voting is done by using IndoDax TEN tokens, which can be purchased directly at the exchange. One TEN token will count for 10 votes, and is costs about 0.00003060 BTC as of right now. A minimum of 10,000 votes are required, as well as 100 unique voting members.
In order to vote, you have to be registered and verified as an IndoDax member. The requirement for registration is very much the same as other exchanges, and verification includes submitting photographic evidence of a government issued ID.
The increased awareness, adoption and liquidity is a benefit to the entire BTCZ community. However, there is a particular benefit to Indonesian members, as they will now have a much more cost efficient way to transact, using BTCZ rather than BTC when transferring to and from Indodax, and when converting to fiat.
Performance and progress measures
According to the terms of the voting, the scoring is weighted as follow: 90% x number of TEN votes + 10% number of TEN security deposit. The voting period starts on April 30th, and ends May 7th 2018. The performance is measured by number of votes BTCZ receives. The ultimate objective is getting listed at Indodax.
Risks and ways to address them
All TEN tokens expended as votes can not be refunded. If BTCZ does not win in the first round, it will be held for 1 more voting period. Should BTCZ lose in the second round, then the TEN tokens are forfeited. There is also a chance that fewer than 100 unique members vote for BTCZ, in which case BTCZ will not be listed even if it attains the most votes.
A basic plan of work (timeline and key milestones)
We ask that all community members participate in this vote in ways that they are able. If you are already a member at Indodax, then please vote for BTCZ. If you are not a member, please register and vote. If you are unable to register or contribute, please raise awareness through your social media and social circles about this vote.
Cost estimates and funding sources
We ask that community members be generous with the vote. One TEN token (10 votes) costs about 65-70 BTCZ. For IndoDax current members in particular, remember that you get charged 0.0005 BTC to withdraw BTC from Indodax. Further, if you want to convert BTCZ to Indonesian Rupiah, right now you most likely have to sell BTCZ, either withdraw in BTC (cost about $5-$15 depending on exchange), or exchange into a crypto with cheaper transaction fees, then move it to Indodax, finally selling it for Rupiah. The cost savings on not having to do this is worth many many votes!
Opposing arguments and responses
Community members who are not from Indonesia may think that this proposal doesn’t necessarily affect them. But please remember that listing in an exchange means increased volume, increased liquidity and ultimately increased adoption. This benefits all BTCZ community members.
Indodax Registration form: https://indodax.com/register
CoinmarketCap link to Indodax: https://coinmarketcap.com/exchanges/indodax/
Indodax Twitter: https://twitter.com/indodaxOfficial
Indodax Forum (mostly Indonesian, but has English channel): https://forumbitcoin.co.id/