[ELM] How To Get Tokens Listed On The Crypto Exchange?
Updated: Jun 20
The crypto industry is booming with innovations and use cases for crypto assets. However, now and then, a new dimension adds to it that leads to the change. This evolution of the crypto market is getting stronger with every passing day. Whether you are an individual or a business, there are many ways you can benefit from the blockchain. From making transactions to trading, the possibilities of making a profit are many.
Source: Smart Cash.
However, to deal with crypto assets, you need a crypto exchange. Therefore, the crypto exchange is at the forefront of the crypto trading and exchanging environment. These platforms provide users with essential facilities like a crypto wallet, price charts, price alerts, crypto to fiat exchange, crypto assets pair exchange, staking, liquidity pool, etc. Further, these platforms play a crucial role in providing easy accessibility and a seamless trading/transacting experience.
The number of crypto assets has been rising for the last 9 years, growing from 66 in 2013 to 10,397 in February 2022.
What is an ICO?
An ICO stands for Initial Coin Offering. It is a popular method to raise capital for the project's development in exchange for the crypto token. If you are familiar with the listing process of companies on stock exchanges, you will quickly get an idea of how and why crypto-asset promoters file for an ICO. However, if you still don't understand it, we covered you.
Suppose you wish to launch your crypto project to facilitate comic fans to buy and sell comics. Let us call it the MCU Comics (No hard feelings if you are a DC fan 😉). However, the organization requires funds to hire blockchain developers, get the right equipment, and develop infrastructure.
Now, in the initial stages, the organization can't cover all the expenditures independently. So to raise the capital, the project offers crypto tokens in exchange for liquidity. Going public to raise capital and offering tokens in return is known as ICO. Crypto exchanges will allow you to go for an ICO on their platforms once they verify your credentials.
How to List a Token on a Crypto Exchange?
Listing a token on a crypto exchange has been summarised in four easy steps.
· Selecting the platform for listing.
· Hiring a listing expert.
· Application form fill-up.
· Listing of Token.
Selecting the platform for listing is the first and most important aspect of listing a platform. However, almost all the renowned platforms are suitable for listing. However, they have a vast difference in their listing fee, ranging from $1 million to $3 million. The exchanges with a higher fee end provide quick liquidity, easy fiat conversion, etc.
Another aspect to consider while selecting the platform is its availability in your target country and the applicable regulations.
Hiring a listing expert is the second step in the token listing process. The listing involves heavy documentation. An expert will prepare your documentation, review your documents, preparation of legal memorandum. Other than the paperwork, they shall act as a middleman between you and the exchange.
Once you have your documentation ready, it is time to fill out the exchange application form. Here your hired expert will guide you in filling up the application form. Also, they shall keep tracking your application process. You will have to pay a documentation fee to the exchange in this step.
The last step is about the technical intricacies of listing a token on the platform. Your technical team will work with the exchange to list the token on the crypto exchange and how it will be monitored and reported. Also, the teams work on payment mode, payment transfer, token transfer mechanism, etc. An exchange may also charge a listing fee at this step.
Each step succeeds the previous step without overlap. If a step isn't completed, you can't jump on to the next one.
ELM: A Seamless Experience to List a Token
Businesses across the US and the world are moving fast to blockchain technology. With the evident benefits and hype around the subject, it is also a necessary step. Further, this will help pioneer the new age technology and take first-mover advantage. However, coding the project-specific token, researching all the exchanges & selecting the right one, hiring the listing expert, and filling out the application form can be tedious. Some of the factors of which we need thorough knowledge are
· The public adoption rate of exchanges
· The general trend of usage type of the exchange
· Listing fees of the exchange
· Transaction fees etc.
Here, services like Enterprise Legion Management (ELM) may provide projects the help they need. ELM makes the transition to blockchain smooth and enriching, deriving total value. So whether you are looking for funding or building brand loyalty among customers through tokens, ELM shall help you at every step in pioneering the industry.
The highly motivated and smart team at ELM has created many features for coins that can be customized as per the business need. The smart contracts shall govern your cash flow, and the whitepaper shall clarify your intentions and agenda for the token offering.
Getting your token ready on ELM is super easy. All you need is to fill out a form on their website. Further, you can discuss the possibilities of token use cases with a consultant who will guide you at every step. You can surely leverage blockchain technology and derive massive benefits with the assistance provided.
Socials of the Project.