We propose to instruct a committee to pursue listings of POKT on centralized and/or decentralized exchanges, and to grant Pocket Network Inc (PNI) 800,000 POKT to cover exchange listing fees, in order to create an open market for POKT.
Given the combination of the prevailing market conditions and the strong progress of Pocket development and adoption, it appears to be an ideal time to list POKT on exchanges and open the door to new stakeholders.
In order to do so, due to the time constraints and levels of due diligence involved, the DAO should select a small committee of one or more individuals to identify and launch POKT on an exchange. Given the sensitive nature of listings and legal implications, the committee would be bound to secrecy about their activities until the launch of a listing.
Although it’s been effective for some users, the community-run OTC has inherent levels of friction that an exchange would eliminate. What’s more, with an exchange listing comes added transparency and a more efficient market.
A POKT listing and accompanying marketing/PR should be the best validation and advertising for Pocket (see The Graph as an example). The earned media from a listing would spread the word of Pocket Network to untouched markets and would provide additional legitimacy for the project.
The net result would be the ability for nodes to more easily sell POKT they’ve earned and nodes/apps to more easily acquire POKT thereby onboard to Pocket Network more easily. As a result, one would expect more interest on the product side on the one hand, and increased usage/traffic on the other.
Due to the nature of an exchange listing, POKT will not be an effective form of payment for such a proposal. Pocket Network, Inc. has agreed to cover all fees (listing, marketing, market makers, legal, etc.) associated with an exchange listing in exchange for an 800,000 POKT grant from the Pocket DAO. This excludes any capital required for market makers to operate with (if required). A separate proposal would be submitted for any market maker required capital. PNI may propose reimbursement in the future for expenses that exceed this initial grant.
- DAO Approval (PEP-4)
- Search process + due diligence (listing/partnerships/marketing)
- Partnerships (market makers, PR, marketing)
- Contracting and legal
- Launch: listing of POKT on a top-tier exchange
- Exploration of additional listing options
Search Committee (selected by the DAO) - As part of this proposal, @adam is nominating himself to lead this committee. Adam has a background in finance and leads economics at PNI.
PNI resources, where necessary, to execute the PEP.
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