Centralized Exchanges
Last updated
Last updated
1. Listing Goals
The Skyren Foundation aims to facilitate listings of SKYRN tokens on major centralized cryptocurrency exchanges once the token is live. This objective is crucial for several reasons:
Increased Liquidity: Listings on major exchanges can provide greater liquidity for the token, making it easier for users to buy or sell SKYRN.
Wider Accessibility: Centralized exchanges often have a larger user base, potentially increasing the reach and adoption of SKYRN tokens.
Market Visibility: Being listed on well-known exchanges can enhance the token's visibility and credibility in the cryptocurrency market.
It's important to note that SKYRN tokens held in custodial wallets of centralized exchanges will have certain limitations:
No DAO Voting: Tokens in these wallets cannot participate in DAO (Decentralized Autonomous Organization) voting processes.
No Airdrop Reward Collection: Users won't be able to collect airdrop rewards directly through these custodial wallets.
Limited Ecosystem Access: Access to other products and services within the Skyren ecosystem will be restricted for tokens held in centralized exchange wallets.
To fully participate in the Skyren ecosystem and access all features, users should:
Withdraw to Non-Custodial Wallets: Transfer SKYRN tokens from centralized exchanges to non-custodial wallets.
Recommended Wallets: Use popular non-custodial wallets such as MetaMask or Trust Wallet.
Full Feature Access: By doing so, users can engage in DAO voting, collect airdrop rewards, and access all Skyren ecosystem services.
Skyren Smart Contracts distribute DAO and DAO Boost Rewards only to non-custodial wallets. Tokens on centralized exchanges will not receive these rewards. Hold your Skyren tokens in a non-custodial wallet to ensure reward eligibility. Skyren is not responsible for lost rewards due to tokens held in custodial solutions.
The practice of requiring non-custodial wallets for full ecosystem participation is common in the cryptocurrency industry:
Alignment with Standards: This approach aligns with industry standards for decentralized projects.
Security and Control: It ensures users have direct control over their tokens and can interact with decentralized applications (dApps) securely.
Decentralization Principles: This practice upholds the principles of decentralization by reducing reliance on centralized entities.
The primary use of SKYRN tokens on centralized exchanges will be:
Trading: Users can buy and sell SKYRN tokens on these platforms.
Price Speculation: Some users may engage in price speculation activities.
Important Note: The Skyren Foundation explicitly states that it does not condone, support, or facilitate price speculation in any manner. The foundation's focus is on the utility and ecosystem development of the SKYRN token.
It's crucial to emphasize the following points regarding user responsibility:
Individual Decision: Engaging in price speculation on centralized exchanges is solely the user's decision.
No Guarantees: The Skyren Foundation does not make any guarantees, promises, or statements regarding:
The future monetary value of SKYRN tokens
Potential appreciation of the token's value
Any financial benefits associated with holding or trading SKYRN tokens
Informed Choices: Users are encouraged to make informed decisions based on their own research and risk assessment.
In conclusion, while SKYRN tokens will be available on centralized exchanges primarily for trading purposes, the full benefits and features of the Skyren ecosystem can only be accessed by holding tokens in non-custodial wallets. Users should be aware of the limitations of custodial wallets and the responsibilities that come with engaging in any form of trading or speculation.
