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Update On Exchange Listings

Wiser

DEV
MARKETING
MOD
BIZ
Joined
Apr 1, 2021
Messages
4
Recently there was a post in our Reddit regarding the wash trading practices of certain exchanges. Wash trading is simply the act of using in-house bots to imitate volume. Following some concerns from the community about this, Hogeman and some other devs decided to take a look into different exchanges to determine how much of it was happening, regardless of if it was for altcoins or even the big players like ETH. One of the main exchanges concerned was LBank. After determining that much of their volume is wash trading, we have decided to move towards other options. The main donor for lbank has decided to put this funding instead towards the development of Hoge DeFi technology. This include Hoge game development, HogeSwap, NFT faucet, and much more.
This is also a good time to remind everyone that LBank is not the main exchange that we are working towards in the exchange donation wallet. The other exchange will provide a much easier form of Fiat on-ramp for new buyers, as well as a fairly intuitive UI. I strongly encourage everyone to help us reach that main goal of $60,000. With that being said, there are also several other exchanges at similar ranks to LBank with offers on the table, and we will continue to negotiate those and bring them to the community.
Thank you to the community for uncovering this information and bringing it to the light. We will continue to keep you updated.
 
Joined
Mar 17, 2021
Messages
39
This makes sense to me! I had positive thoughts on LBank before because Shiba's order book is actually quite thick, but looking at smaller memecoins listed on LBank, their order books are quite thin relative to their volume, which is consistent with there being large amounts of wash trading. I would rather prioritize funding toward development and top tier exchanges. Of all of our centralized exchanges right now, Gate and Whitebit seem to be far and away the best, and it would be nice to add to this list.
 
Joined
May 29, 2021
Messages
53
100%. If you guys have noticed Bilaxy has actually been hurting our bottom line with wash trading. Yes true volume is "up" but the bigger exchanges (coinbase) can see wash trading from afar. If Lbank or others add us for "free" like Decoin, ZT or Bilaxy then sure go ahead but it seems like a very poor use of funds to use on something that will likely hurt us.
 
Joined
Apr 5, 2021
Messages
32
I agree with no listing on Lbank. No point in paying for fake volume. That money can go a long way at developing use cases. The wash trading at bilaxy is actually hurting hoge. The lower price attracts buyers like a honey pot: orders placed are not filled and withdrawal fees are high, locking you in their exchange with nothing to trade.
 
Joined
Apr 15, 2021
Messages
45
I love how HOGE is an excited community!! Sometimes some might see the "shiny Keys" (Bilaxy/LBank) and want to play with them, and others step in and say "NO! Bad keys"!!

It's also not worth getting listed for free on something that seems scammy and hurtful in the long run.

The old cliches about the "Tortoise and the Hare", "Good things come to those who wait", "Rome wasn't built in a day", "Patience is a virtue" are ALL applicable.

HOGE is literally a baby in the crypto world. However, that newborn is now six months old with a HUGE and growing family around it!!!

KUDOS TO ALL INVOLVED THAT ARE TRYING TO DEVELOP, PROMOTE, AND PROTECT OUR BABY!!!
 
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