Locklet ($LKT) BEP-20 listing
This proposal seeks to bring Locklet ($LKT) BEP-20 to Demex.
Locklet is the world's first decentralized vesting platform. It allows any crypto-currency holder to create more or less complex vesting clauses according to their needs and have them executed over their desired duration in a completely decentralized way. With Locklet, serious projects can now cryptographically differentiate themselves from scammy ones!
As you may know, LKT has been listed on Demex for a little over 2 months, liquidity and volume has been pretty good overall.
However, when we first listed LKT(ERC-20) we weren't really aware of the huge Deposit Fee's caused by the Ethereum chain.
To attract traders who are put off by high fees, we should have listed the LKT(BEP-20) instead. We can't rollback, but we want to provide an alternative.
Here is what we propose:
Listing LKT(BEP-20) then create a stable market LKT(ERC-20)/LKT(BEP-20), we will provide enough liquidity to make a 1:1 swap between the ERC-20 and BEP-20 tokens possible for everyone.
(no pool creation will be required and no additional LP is asked, liquidity will be provided straight in order book)
*Risks and Benefits
We don't see any risks to this proposal. The benefits will be more volume and activity on Demex.
@Coco87 - Nice initiative to use Carbon to bridge high cost -> low cost chains. Directly making a tight market should circumvent any AMM spread issues around an effective stablecoin market, though make sure you maintain a small spread to cover costs.
I feel locklet has been a great addition to demex so far. It's a great way to test demand for bridging on between chains with the same project. Very much in favor for this proposal!
Its a good and smart move to create this market. Right now deposits/withdrawals are to expensive for the ERC-20 version. Arbitrage between exchanges(Uniswap/Sushiswap) are nearly impossible due to the fact that it requires a lot of funds to trade at profit. Instead if paying huge transfer fees and on top of it paying another fees to get LKT to BSC(Bridiging) using this market will be quite cheap.