Grasping the Binance opportunity
Michi last edited by Michi
Yesterday I reread the new BC whitepaper and had an interesting discussion with a few (larger) investors regarding the strategy CZ seems to pursue (successfully). Combining this with the EOY letter from CZ I think that we (Vitex) have a great opportunity now.
Personal opinion (no evidence nor signals). : I would not be supriced if vite labs is a good candidate for their M&A strategy. (But let’s go back to topic)
Since we won the Binance Community Vote a few things did (/not yet) happen which caught my mind:
A. Binance lists Vite on 3 pairs (BTC, ETH, BNB)
B. Binance delists the BNB pair
C. While the deposits and withdrawals of BNB is activated on Vitex, BNB is not tradeable on Vitex (yet?)
D. BNB is not tradeable on Binance US (some suggest this as a reason why the BNB prices dipped quite a bit)
What I love about ViteX is the ability to passively hedge your investment (through the dividends of both CC as stablecoins).
Apart from this hedge I personally diversify my portfolio by buying and holding BNB (among others) from a part of the dividends I receive here (meaning money leaves the exchange). Looking at the vite volume on Binance (with no mining initiative) we can assume that a substantial part of the vite holders also use Binance.
I think it would be smart move if ViteX opens BNB as the fifth market (next to BTC, ETH, VITE, USDT). I personally believe this could position ViteX above the Binance DEX as it provide the opportunity to earn 4 types of dividends (rather then 1) and this would make the VX token even more valuable.
For me (holding +/- 2 btc worth of VX) this would greatly reduce the need to take money out of ViteX in order to diversify my holdings and I would be very tempted to allocate more money to VX.
What do you guys think in terms of attractiveness, suitability and how realistic this is (Legally / technically)?
(I would be willing to co-invest if needed).
KhunSir_Vite last edited by KhunSir_Vite
Hi Michi. Our team is always grateful for new ideas from our community. Thank you for the suggestions!
Since we have VX as a platform token on ViteX and BNB is also a platform token, we cannot make BNB as a separate market on ViteX. The thing we can think of is, making BNB to BTC/ETH/USDT trading pairs. This will meet some of your requirements such as trading between BNB and other mainstream coins, but we won't be able to put BNB in dividend pool.
Let us know how you think of this. Thanks again!