I’d like to discuss with the community about this problem: the lack of a ticker symbol for the new projects on Waves Platform.
It’s been a year, correct me if I wrong, that it isn’t possible to add it and there are few news about future decisions.
The purpose of this topic is to discuss:
- pro & contro of this status of fact
- proposals for possible and realistic solutions - easy and fast to be applied, cheap, automatic.
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Let’s start with a list of PRO & CONTRO of both Ticker symbol and Asset ID.
PRO & CONTRO
| Ticker Symbol | ABCD | Asset ID | 2xfsk3fK6Pa95Lvo2cdGv30m | |
|---|---|---|---|---|
| BRAND | Yes | What is BTC? Almost all investors know it. Ticker symbol is a really important part of the brand. i.e. while trading, searching, use hashtags… It is not acceptable to think that you can do without | No, it can’t be a brand | What is 2xfsk3fK6Pa95Lvo2cdGv30m? Eh? What? |
| Lenght | Short | Easy to remember | Too much long | Hard to remember |
| Scams | Short | Unique, it does its work | Too much long | Unique, it does it work. Or not…? Since it is hard to remember, no one will check it. And the token name isn’t unique. |
| Exchange Listing | Compliant with the standards | Required to be listed on the other exchanges | Non-compliant with the standards | Useless, no one will accept it to list your tokens outside Waves Platform |
| CoinMarketCap | Accepted | You CAN add your coin on CoinmarketCap | Not accepted | You CAN’T add your coin on CoinmarketCap |
| ICO trackers | Accepted | You CAN add your project to ico trackers | Not accepted | You CAN’T add your project to ico trackers, or you have to add false data, because asset ID it is not accepted or it is too long to be filled in. |
| Professional project | Yes | Tokens got a ticker symbol as any other cryptocurrency | No | People outside Waves Platform can’t imagine the reason of the lack of a ticker symbol. In their minds they thinks: “Is is a scam coin?” And they stay away |
| Serious Platform | Yes | Tokens can be listed in every exchange | No | People outside Waves Platform can’t imagine the reason of the lack of a ticker symbol. Why should I create a token that can’t be listed in other exchanges? |
| Inequity | Projects that already have a symbol on Waves Platform have greater visibility | The projects without a ticker symbols on Waves Platform look like second-class projects | ||
| Pair visibility on the DEX | Yes | It is easy to see BTC/ETH | No | To find a pair starting with a long token name you have to click on all available pairs or use search bar, because only part of the first token name is visible and nothing of the second token name |
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POSSIBLE SOLUTIONS
It is not clear why this platform can’t have a ticker symbol. The reason given seems weak.
A possible solution could be:
- Allow the use of a ticker symbol. It should be unique.
- If you can’t make it unique, add a green color to ticker symbols used for the first time, and a red color for those already used, to prevent fraud attempts
- Also add a verified badge like this
to projects worthy of trust.
I think this is the best solution to this problem.
Now it’s your turn. Share your proposals for possible and realistic solutions. Remember: it’s important that your solution should be easy and fast to be applied, cheap, automatic.
A table with your proposals will be filled and a poll opened to vote the best solution when we reach enough alternatives.