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XTZ · 21w

How the Tezos community helped drive crypto exchange listings

When the Tezos (XTZ) fundraiser took place in July of 2017, the original plan was for development to be completed in 3 to 4 months before a production network would be released, at which point ICO participants could collect their coins. Following the ICO, which was the largest one-time fundraiser in blockchain history at the time, development proceeded as planned until management issues arose at the Swiss foundation created to steward the project threatened to derail the entire effort.

After months of delays, which pushed an expected 2017 launch well into 2018 with no firm schedule in sight, the Tezos community was frazzled. To get to the point where ICO contributors could own and/or cash out their Tezos coins, it would take a change of leadership at the Tezos Foundation, which happened in February 2018, and several more months of development to finish a working beta network.

Betanet Brings Hope, Not Liquidity

On June 30, 2018, almost a year to the day after the fundraiser in 2017, the Tezos Betanet launched as a full-functioning blockchain allowing ICO contributors the first chance to claim their coins and decide whether or not they would continue holding them. However, the lack of a suitable crypto exchange left many contributors, especially those in the U.S., with no real options for selling or trading.

The crypto exchange gate.io listed Tezos after the betanet launch, but it excludes residents of Japan, Canada, and the United States. A small handful of low-volume exchanges followed, again with either similar residency restrictions or a small market size, still leaving no good exchange options.

Mainnet Bolsters XTZ Exchange Listings

Following a successful beta period, the Tezos mainnet launched on Sept. 17, 2018, bringing with it a renewed hope that maybe crypto exchanges would begin to take notice. After all, the crypto exchange HitBTC has been trading Tezos IOU’s (I-owe-you) since late last year, surely they would be ...

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