Indian cryptocurrency exchange has devised a novel initiative to list tokens on their markets quickly. Since a typical token listing process involves a number of steps, WazirX exchange aims to bypass that with its new ‘Rapid Listing Initiative.’
What is Rapid Listing Initiative?
Unlike a typical token listing which allows traders to trade, deposit and withdraw tokens, the rapid listing initiative will allow users to only trade tokens. This essentially means that WazirX will list new tokens without enabling deposits and withdrawals.
This will allow the exchange to offer the latest tokens quickly to their users. Traders can buy, sell and trade the token in the USDT and BTC markets.
WazirX will not provide a set ETA for tokens listed under this new initiative. Trading these tokens will be ideal for investors who want to hodl or trade, but not for those who want to withdraw these tokens.
Right now, we are focused on taking WazirX to more countries, and our team is working super hard on going international. Due to this, token listing has taken a backseat. We know that you tend to miss out on trading opportunities for the coins not available on WazirX. So, we brainstormed internally and that’s how the Rapid Listing Initiative was born!WazirX Blog
Currently, the exchange is connecting with liquidity providers who will be given a special deposit address to sell the tokens on WazirX. The minimum deposit eligibility for liquidity providers will be mentioned separately for each of the tokens listed through this mechanism.
WazirX will announce its first tokens under the Rapid Listing Initiative on June 17, 2019!