Kucoin Exchange Listing

RavenDAO will provide market making services on dYdX v4 long-tail assets through an ongoing monthly agreement with the DEP. The goal for these services is to improve top of book liquidity and spreads for the supported markets.The DEP will provide an initial list of markets to be supported. In addition to these markets, RavenDAO will be asked to support new markets listed through governance. The DEP will inform RavenDAO four days in advance of the market being listed. RavenDAO will be expected to add liquidity within twelve (12) hours of the market being listed on dYdX.

In Japan, the Financial Services Authority (FSA), the country’s leading regulatory body for all crypto related matters, is responsible for approving the listing of new tokens across all exchanges. Exchanges must first get approval from the FSA before they can add new markets. This can be a long and difficult process. This grant will fund an effort to gain whitelisting approval from the FSA for all exchanges in Japan to be permitted to list DYDX. As part of the grant, CoinTrade, the exchange leading the listing process, will also add support for DYDX trading and transfers on their exchange. We expect more to follow in response given the painful regulatory process will be done.