Coinatomy Exchange

#1

Coinatomy Exchange:
2500BLOCK for 4 months:
mnbudget vote-many b5f9532b7f60ab00a50c6011512779edd162aa859a295d2e190f0307c1a7574f yes:

Coinatomy is a UK registered crypto business currently specialised in Masternodes…

My Proposal:
Open a centralized exchange that sends all its transactions to the BLOCK DX.
Our transaction fees will be the same as the taker fee: currently 0.015BLOCK
All orders placed on the exchange will be sent to the DX…

This should SUPPLY volume to DX and DEMAND a lot of BLOCK for transactions fees…

I am currently in the early stages of development but I’ve just spent $9500 for programmers, $5000 on equipment + costs…
When all is running smoothly we will spend around $50,000 for marketing…

The funding I am asking for, will secure the first 500,000 transactions…
After that… We will be forced to buy from exchanges…

I hope to bring you great volume
Coinatomy
CHECK OUT MY CURRENT WEBSITE:www.coinatomy.com/p/proposal

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#2

I’d like to preface this comment with stating that I am not in favor of this proposal. However, I have a few questions which you can hopefully answer on behalf of other Service Node operators, since for the amount requested and the proposed use this is a very poorly detailed proposal.

  1. Why make this exchange centralized?
  2. There’s been many comments showing a misunderstanding of how the exchange works, such as saying funds are sent to an ETH smart contract (mentioned on the site you linked) and that taker fees are burnt (mentioned on Discord).
  3. An exchange, especially a centralized on, required a well developed and secure site. An exchange that achieves 1,000,000 daily transactions (mentioned on Discord) also requires a very user-friendly interface. Given your existing site, I unfortunately do not see the capability to achieve this.
  4. It does not look great for a project that takes great pride in it’s level of decentralization to fund development of a centralized exchange.
  5. What do you mean this funding “will secure the first 500,000 transactions”?
  6. Do you have an experience operating or developing financial systems?
  7. Do you have any experience operating any projects besides Coinatomy?
  8. Why you need 2500 BLOCK for 4 months, why not post a proposal for 2500 BLOCK each of the 4 months instead of a single 10k BLOCK proposal? (doesn’t make a difference to me, as I do not agree with this proposal regardless)
#3

Hey!

  1. I think centralized is the easiest way to on-board more people…
  2. “Funds are sent to the ETH contract” was part of an explanation for “how to use the Block DX”…
    “Fees are burnt” when you trade on block DX… It costs 0.015BLOCK to do a trade… If we do a lot of trades for you guys then we will be burning a lot of block…
  3. Current website was built by me… For me… If you download the app, you can save your favorite cryptos and view them easy; it’s super cool… This development will be outsourced to professionals…
  4. Why not? You already trade on a load of centralized exchanges… That are making $ in transaction fees… Why not keep it BLOCK…
  5. 0.015BLOCK * 500,000 = 7500BLOCK…
    6-7. My previous company was sold for $2m+ in 2018… It was in manufacture + distribution company…
  6. If you have any suggestions please let me know… I am ready to pay developers asap and I will probably be going forward with the project anyway but if you guys arn’t interested I’ll probably not use BLOCK for transaction fees…
    The proposal is to get your feedback… What would you vote for?

Sorry if this makes it more confusing