Unibright answers: Exchanges.
In our blog about our strategy on community updates, we announced to have an “Answers to your questions” blog series, elaborating on the most interesting or frequently asked questions. We announced to start that series on Friday 8th.
As we see our telegram group focusing on the question “when will Unibright hit which exchange?” during the last days, you will find the first blog entry with a detailed answer already today. We will split it into different questions/answers.
What is the current state of exchange listing?
Our token was released on May 20th and is listed on IDEX since then. We were added to coinmarketcap.com within the first 24 hours after the token unlock.
Can you give us some clarification on German law concerning listings.
As a German utility token we are officially “not allowed to approach exchange listings directly”, that’s true. What does that mean for out token holders?
This doesn’t mean, exchanges do not notice us. They in fact do, we were contacted by many minor exchanges and also by 2 of the TOP 10 Exchanges (by volume). We are not required to fend any listing off!
So we ask for a little bit of patience here. We will not give updates on this subject on a daily or weekly base. The compliant exchange infrastructure in the EU is just building up, so we also expect very positive results here in the next months. The most important thing for our token holders is to work on our product and spread the word about it!
What is Unibright’s strategy towards Exchange A, B or C (insert your favourite Exchange here)
Different exchanges act differently. Some of them want to be paid to list a token, others (with a good reputation) will most probably check a project, its background, its progress and also its performance on other exchanges for some weeks before listing it.
We are not a short term one-week-project, we want to remain! So, the best we can do is to work as hard as possible on those things we can affect actively: Working on the product, establishing partnerships, finding customers and showcasing pilot projects. All of these matters will surely have a positive effect on the project, its awareness and also on the token and its availability on the desired platforms.
You need to be on exchange A, B or C now! You have to do more marketing so the price will rise!
We think there are a lot of misunderstanding when it comes to exchange listings. Only the fact that you are listed does not give any guarantee on the price of a token (it’s like saying “I saw that all rich people wear expensive watches. So I will buy an expensive watch and I will be rich!!!”). To us it seems that many people confuse cause and effect.
It’s not our main goal to be listed within a few weeks after the token launch, just for being listed. Our main goal is to develop a great product, raise awareness of the market and involve our community to spread the word. The best marketing you can do is telling the real thing and not only promises!
You can be sure we are taking care of our token holders not only by providing regular updates on our state of development, partnerships (see Microsoft Hackathon) and events (see Zühlke event about adaption), but also by explaining our token model (another blog to be posted on friday) and spreading news about the token itself.
To us it seems like people asking for “do more marketing” have a completely different understanding of marketing. The event with a global player (Microsoft) for 2 days just some weeks after the token launch moved a lot of enterprise customers closer to blockchain and unibright. The next event with a huge consulting company (Zuehlke) has already been announced. We are totally in line here and besides the positive feedback, we also have the feeling that this is the right kind of marketing for our product.
Setting up new partnerships is another pillar we are working on but nothing that is done and signed and announced in a few days. We have some great news in line here.
Can’t you just move to another country?
We have been doing business in and from Germany for more than 15 years and have no immediate plan on moving countries. We think this suggestion does not look far enough. Germany is great when in comes to potential customers, and we think it’s a good thing to be where your customers are.
Every country has its laws and regulations and lawyers telling you what to do and what not, if you take the time to listen to them. For us it’s a natural part of our project to go along with the laws and respect the possibilities every jurisdiction offers.
Other projects might use an approach more “wild-west-style” in just doing what ever is possible. To us, it is our responsibility to do what is good for the project, our token holders and the company long-term!
We do not want anyone involved in this project to get into legal, fiscal or other trouble in the future. True, crypto world is still in its early years, but still it’s not an completely disconnected place, where one can act in whatever manner he or she thinks feasible for short term advantage.
What can I do to help?
You all can help by spreading the word about Unibright and supporting us by giving us some time to focus on our core work — the development and distribution of the Unibright framework, alongside with marketing the product and the Unibright ecosystem.
The bottom-line for us is, that we all should work together on the project, in ensuring its long-term success.
This means doing business right and getting the product ready and customers on board. That is what we can control, and that is what we will do. Everything else will fall in line with this. It makes no sense to us to look at it the other way around and concentrate on topics we can’t control.
You and every single person in the community can play a vital part and help us reach that goal. Be an ambassador for Unibright! How?
- In helping us to keep up the constructive, objective and business-focused discussions we used to have.
- In spreading the word on Unibright and its unique way of making blockchain usable in the enterprise world.
- In setting up meetups or local groups to discuss new features, use-cases and everything else around the project — we will try to be there with you in person with some team members.
- In helping to promote blockchain technology in general with its features and its possibilities for business, personal use, community usage, decentralization and so on.
- In helping us finding new business use-cases for blockchain technology in your space and setting up some Proof of Concept or project with us together
- In understanding that we are on a journey that will take some time, and the better we work together, the better our chances are to succeed!
We are very proud of our community, you all do a great job for supporting us. We will not let you down. Thank you!