First of all, our definition of cryptocurrency is different from yours so let’s first make sure that we’re speaking the same language:
# What is a cryptocurrency?
Cryptocurrency is money with superpowers. For example, if fiat currency like USD is Bruce Wayne, then think of cryptocurrency like BTC as Batman.
Similarly, a shitcoin is a cryptocurrency with no superpowers.
At Golix we use the words token and cryptocurrency interchangeably.
The purpose of this blog post is not to go through our long, rigorous token listing process but rather to talk about how we’ll decide which projects we’ll even talk to. The first questions we’ll ask any project that is looking to get listed on Golix are:
1. What superpowers does your cryptocurrency have?
2. Why is this superpower useful to someone in Africa?
3. Does this project have an existing community in Africa or can we help them grow their community in Africa?
# What superpowers does your cryptocurrency have?
Asking it this way forces the cryptocurrency to focus on their core value proposition without using buzz words and jawbreakers — something many cryptocurrency projects struggle with. This also helps us quickly determine if we like your project or not before we invest time too much time into understanding it. Examples of good answers to this question look like this:
1. Bitcoin’s (the first cryptocurrency) superpowers were near free transactions that could be made electronically and with no restrictions.
2. The Golix Token’s superpower is cheaper transaction fees on golix.com. In some cases, the Golix Token gets you zero transaction fees (cool huh?).
3. Ethereum’s superpower is creating contracts that cannot be breached because they are enforced by computer programs (which cannot go back on their word, like human beings do).
If we can’t identify any superpowers, we stop here.
# Why is this superpower useful to someone in Africa?
Right now, we’re focused on the African market at Golix. The same way Superman will lose his superpowers when he gets into contact with kryptonite, we’re also aware that some cryptocurrencies may have some success in other markets but may not have any good use cases or uptake in any of our core markets. We’ll only move forward with the token listing process if we think that your token has some use case in one or more African countries.
# Does this project have an existing community in Africa or can we help them grow their community in Africa?
We’re a young cryptocurrency exchange in Africa, but we’re growing. Our secret master plan for maintaining and accelerating our growth is partnering with good projects that are also growing so right now we’re only looking to list cryptocurrency projects that we think can be good partners and ones we think we can grow together with.
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