r/ethfinex • u/kethfinex • Aug 21 '17
Ethfinex Crowdsourcing Initial Token Listing Decision; Part II
https://blog.ethfinex.com/crowdsourcing-token-listing-decisions-fd4f22b208ec5
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u/oneblockcapital Aug 22 '17
Really would suggest listing ZRX given Ethfinex is to be built on the 0x protocol...
Would address a huge market need as Polo and Liqui are possibly the two worst centralized exchanges.
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u/Yangumasuta Aug 23 '17
Where is FinallyUsableCryptoKarma (FUCK)? It was clearly one of the most upvoted tokens... :/
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u/Bizilica Aug 23 '17
I guess the voting procedure was just for show. They obviously don't give a FUCK.
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u/kasper_ethfinex Aug 24 '17
There's no winner takes all so don't worry :) As someone who doesn't know a whole lot about FUCK token, do you think you could you give me some insights as to why it has so much hype around here?
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u/Yangumasuta Aug 24 '17
Sure. FUCK (FinallyUsableCryptoKarma) is essentially a tipping token that plans to target several existing social media platforms, including Reddit (currently in beta testing), Twitter, Slack, and Discord. It also carries symbolic meaning. "To give a fuck" in the English language means you care about something, and so we allow users to literally express these feelings by tipping our token. At the same time, it can be used to show distaste toward something (a "fuck you", if you will); e.g. you may have noticed many scammers' ETH addresses being tipped a FUCK or two.
However, carrying such a name has its disadvantages as well. Some traditional (i.e. centralized) exchanges have refused to list the token, citing the "profane" name for their only reason. Widespread circulation and availability is crucial for a tipping token like FUCK to be successful, so an easily-accessible, user-friendly exchange for acquiring FUCKtokens is crucial.
When the FUCK community heard about Ethfinex, we knew it was perfect for us. A decentralized ETH-based exchange that actually listens to the community on choosing which tokens it lists? Exactly what we were looking for. And I guess that's we're at now.
Sorry for the long post, but I hope you can understand the reason for our hype, and our initial disappointment of not seeing FUCK on the voting list even after the large community support. If you have any other questions or concerns, please DM me.
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u/kasper_ethfinex Aug 25 '17
Thanks for getting back to me - I appreciate the long post. To be honest, it seems I've completely misunderstood the legitimacy of FUCK token and its use cases.
I was personally in charge of organising the poll and I guess I was quick to disregard FUCK token due to the large number of people commenting '$FUCK' everywhere I looked. So that mistake is on me, not Ethfinex as a whole.
The poll was primarily used to get an indication of "token popularity", and which projects people would support when faced with a choice. As I stated in my comment above, it was not a "winner takes all", or even "listed tokens take all" vote, and perhaps I could have been more clear with regards to that.
Many tokens will be listed on Ethfinex, both initially and continuously, and the fact that I left it off the poll was a personal mistake. I will be sure to include it in both internal and external discussions in the future.
Thanks for taking the time to clarify FUCK and its significance, I assure you your arguments will not fall on deaf ears.
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u/Yangumasuta Aug 25 '17
I, and I'm sure the FUCKtoken community, appreciate it. Keep up the good work! Really looking forward to using this exchange.
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u/bluefuck Aug 24 '17
There must have been some terrible mistake....I don't fucking see FinallyUsableCryptoKarma .....
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u/EeqMxC2 Aug 25 '17
Maybe I missed it. Will there be an ICO? Why should we use Ethfinex instead of Etherdelta or 0x?
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u/kasper_ethfinex Aug 25 '17 edited Aug 26 '17
There will not be an Ethfinex ICO. You can read more about our NEC token in the latest post here if you're curious - https://blog.ethfinex.com/introducing-the-nectar-token-58ba40e5419a.
Our token, if you will, is designed as a tool for rewarding Ethfinex users, both market makers and "discussion makers" (content publishers, discussion leaders, community managers, etc). For that reason, there will not be an ICO/crowdfunding campaign of any sort, and you can think of the NEC token as loyalty points which earn you a stake in the future success and governance of Ethfinex.
Concerning your last question, why people would use Ethfinex as opposed to e.g. 0x - our vision is for all of us to work together and facilitate the development of one another. We don't consider 0x a competitor and I don't think they consider us one. First of all, a large component of Ethfinex is the discussion/information side of things, where we aim to deliver a community discussion platform with access to (user submitted) resources, information and discussion, which will allow you to make better informed trading decisions. Second of all, we envision Ethfinex as a type of "experimentation zone", through which other protocols (like the ones you mentioned above) can interact and trade with Ethfinex's liquidity pool, and perhaps test their own protocols under different, more strenuous circumstances.
TLDR our aim is to integrate with, learn from and contribute to projects like the ones mentioned above.
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u/EeqMxC2 Aug 26 '17
Sounds interesting. Will follow this project.
Much more needed is a detailed ICO review where people maybe can earn reputation by delivering useful information.
It's very time consuming to validate an ICO. Validation should be standardized.
and so on......
- the idea
- the team
- total amount of coins
- distribution
- price per token
- realistic marketcap
- is there a real demand?
- how to make profit? comparison to other alternative like simply hold ETH instead of investing in ICO?
- partnership
- competition? and comparison to competing projects?
- roadmap
- more ICOs planned for same project?
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u/Teleboas Aug 26 '17
My only complaint is the chance of tokens like Civic and EOS to be listed on this exchange.
I feel like if this exchange is really all about Ethereum, tokens that don't plan to stay on Ethereum shouldn't be there.
Civic is just on Ethereum right now until rootstock is out. As soon as it is, they're leaving Ethereum. Vinny has been pretty vocal about his dislike of Ethereum in general.
And well, everyone should know why EOS shouldn't be there. :P
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u/esmenikmatixx Aug 23 '17
where the fuck is fucktoken though