ECIP-001 DIGIFINEX
Epicenter Investment Proposal 001
Spend $80k to yield $60MM? Only in crypto!
Today, Epic lacks any coverage whatsoever on a traditional centralized (CEX) platform. Though we just today reached another major milestone, with the first steps on our Wanchain partnership to allow trustless, permissionless, non-custodial trading, we still remain sorely under-resourced in this area.
As we've seen with the recent regulatory censure of Poloniex, user withdrawal problems at Binance, allegations of fraud and malfeasance abound.
Our own 22 month history has seen not 1, not 2, not 3, but 4 new exchange options come and go. Each time a cex platform exit scams our users, something we have no control over, it damages our relationship with that person, who often believes we should have warned them against using a risky platform. Bihodl and Citex stole and likely dumped an estimated 250k-500k coins, further depressing and destabilizing markets and eroding confidence. Vindax promised all kinds of great benefits and not a single person traded there. Vite added a USDT pair and nothing… contrary to popular opinion, unlike in 2017, an exchange listing doesn't automatically drive the price.
ARRR managed to land on Kucoin recently and it had no impact on their standing in the market cap tables. (They already had numerous other CEX options, we have not one, I only mention this to temper expectations).
So while we should be cautious about getting too optimistic, there is strong reason to believe that an investment in this piece of key infrastructure will result in a solid ROI for $EPIC holders.
They are asking an $80k fee for integration in ~2 weeks.
Digifinex unverified claims:
4 million users, of which:
30% China - perhaps this will finally get us some exposure for our excellent Chinese language content at Epicentral.io
20% SE Asia
10% Korea - Epicentral Korean Content
$1-$2+ billion / day volume
Digifinex verified claims:
209 coins
Even if we haircut these numbers by 99%, assuming that only 1% is legit volume and most of their claimed 4 million users never come back, that is 40k people, $10-20 million a day of volume, plus a one hop direct path from 209 coins directly to EPIC.
I believe we should establish the EPIC/BTC pair. Our valuation is severely impaired by our lack of traditional exchange coverage and our lack of connection to other popular, emerging, and trending coins.
Vite started as a strong partner and we appreciate their contribution to our success, but frankly we have outgrown them. They have higher priorities in life and our business isn't very meaningful to them, despite taking an enormous 0.8% of every trade!
We can do better. Digifinex is not perfect but it's much better than nothing.
Epic offers superior overall anonymity and privacy performance to XMR, at $3.5 billion market cap, and ARRR at $700 million. Even if we only attain 10% of ARRR, that is a $70 million market cap, or $6 per coin.
How much would it be worth to you, personally, for Epic to be at $6? Would you contribute a small fraction of that, today, to help make that happen? Join us on Telegram to discuss @ EpicCashTrading.
Supporting Materials / Further Research
Digifinex on CoinGecko CoinMarketCap
How To Contribute
Send ETH to 0x31e168515cd667f83f568ec46d3ffd148d4c56a1, which is the Epicenter DAO Treasury address. Be sure to let @EpicMichaelFreeman on Telegram know that you sent, so we can attribute the donation to you.
The Bottom Line:
Even if you personally don’t plan to trade there, please consider supporting this fundraiser drive with a contribution. We have spoken to literally dozens of venues over the past 2+ years, and this proposal is the culmination of months of effort from a variety of DAO contributors.
Confirmed Contributors So Far:
Max $10k
Enrique $3k
The Mother Trucker $1k
Mr P $1k
Uncle V $1k
Yoga $1k
Popsikill $0.5k
Total $17.5k
Remaining $60.5k