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id period title author discussions-to company_name category focus_area open_source amount_requested status
167
3
Token CEX Listing Proposal for Meld Gold Assets
Michael Cotton & Dominic Hawton (@aetherplex)
Meld Gold Pty Ltd
Community
Defi
false
250000
Final

Abstract

Meld Gold proposes to have GOLD$ & SILVER$ ASA’s listed on a global centralised exchange in conjunction with developing the ability to market make ensuring the assets are readily available with minimal pricing spread.

Team

  • Michael Cotton - Founder
  • Dom Hawton - CTO
  • Brendan Biddell - CMO

Advisors

  • Brent Doughty
  • Michael Simpson
  • AJ Milne

Team and advisor backgrounds are available here: https://www.meld.gold/about

Experience with Algorand

The team has delivered GOLD$ and SILVER$ within the Algorand ecosystem including developing and launching market making capability connecting the liquidity within the traditional precious metals market into Algorand DeFi. Meld’s assets have had over 300,000 on chain transactions and over $1,500,000 in TVL within Algorand DeFi (according to Vestige.fi as at 22/01/24).

Present Proposal

Meld Gold is seeking 250,000 ALGO to cover the costs of listing GOLD$ & SILVER$ on a global exchange and develop market making capabilities to ensure the assets are readily available with minimal spreads. This is achieved by Meld Gold acting as the market maker between the traditional gold industry and the digital market, bridging the extreme deep and liquid bullion markets with the Web3 economy.

Process if approved:

  1. Negotiations with exchanges to continue (initial discussions have already begun) locking in a selected exchange.

  2. Development of market making capabilities that will be adaptable for other future listings.

  3. Testing market making to ensure it is functioning as intended.

  4. Coordinate launch marketing with the partner exchange.

  5. Launch tokens live in conjunction with marketing making, exchange liquidity and marketing initiatives to capitalise on the new listing.

Benefits for the community

Algorand Exposure:

This will help bring additional eyes and onramps to Algorand, the team will also undergo a marketing campaign with the selected exchange as a part of the tokens launching.

Paving the way for ASA’s:

Very few (in most cases 0) ASA’s are listed in CEX’s the more that are listed the easier it will be for future additional tokens to be launched.

RWA Accessibility:

Being orderbook based combined with Meld Gold market making GOLD$ and SILVER$ will be made available to buy and sell in volume with minimal spread and slippage greatly increasing the speed and quantity that can be brought onchain.

Additional information

Please feel free to ask any questions in the comments below.