Welcome!

This is a cross-post from the Dash Forum

This proposal seeks funding to cover the costs of integrating Dash into a major cryptocurrency exchange with fiat funding. Over the last several weeks the Dash business development team has been working closely together with one of the leading exchanges to define terms of collaboration that ensure a path for growth for Dash liquidity and direct access to FIAT trading.

Our new exchange partner recognizes Dash’s potential and is committed to working with us in an active relationship to facilitate access to our network and build a reliable market for Dash user services to clear transactions. They are expanding their service offerings and will include Dash for other areas of their business as we expand our relationship.

We received a specific request from the exchange to not reveal the identity of the new exchange platform at this stage of the process as a proper launch needs to be planned and executed. While we would like to add more specifics about the additional functionality the network will obtain, that would effectively reveal the exchange partner prematurely. Upon approval of this proposal we will start working towards launch both on the technical and business side with a soft goal of launching around the end of Q1 2017.

We believe there will be substantial benefits to funding this proposal. First, it will eliminate the need for the majority of our users to pass through Bitcoin / Dash trading pairs, and reduce the friction and overall trading and transaction fee costs involved in acquiring and
selling Dash today. Making Dash easier to access in a highly liquid market should enable greater flow of capital to enter into our ecosystem. Second, adding Dash to a brand-name exchange provides an endorsement of the value our project brings to the digital currency
ecosystem, and adds credibility to many of other ongoing negotiations with other service providers. Third, this relationship will enable other services dependent on major exchange fiat pairs and pricing to more easily incorporate Dash. In short, it is incredibly easy to see a path towards the network recouping the cost of this proposal many times over.

General Terms

1.This proposal will help cover the costs of examining the Dash software and preparing the exchange platform to offer new Dash trading pairs.

2. Dash’s integration cost contribution is to be $50,000.00 USD payable in Dash. Dash will pay 50% of this amount upon approval of the proposal and the remaining balance (50%) prior to the official launch of the new trading pairs.

3. This proposal also ensures that as part of the review and integration process, the exchange technical staff will evaluate Dash’s InstantSend technology and work with the Dash team to test it. Pending a successful evaluation, InstantSend will be enabled for both incoming and outgoing Dash deposits and withdrawals. There are no guarantees at this stage, but there is a firm commitment to study the solution and potentially include it after the exchange becomes more familiar, and the exchange sees real value in the InstantSend technology to both provide a better user experience and potentially drive arbitrage volumes. Barring any security risk findings, they intend to enable InstantSend functionality and work with us if any concerns arise.

4. Additionally, as part of this proposal the exchange platform will operate a Dash margin pool to help bring more liquidity to the Dash market.

5. The exchange partner understands that Dash is a young and upcoming cryptocurrency that may require time to develop into highly active markets. For this reason, it will support Dash trading pairs for a minimum 36 months, regardless of volumes, to allow for the market to develop.

6. Finally, there will be active collaboration on the PR and business side to continue to develop the relationship and bring more liquidity to the Dash market.

We have been working with this exchange for the past several months to arrive at terms suitable for both parties, and anticipated this expense well in advance, which has allowed us to save toward the cost. As a result, we can complete a majority of the funding with a single request, and draw-down the business development funds already set aside to cover the remaining balance. Therefore, this is a one-time request from the network.

The implementation project with the exchange is being managed by Daniel Diaz and Ryan Taylor. If you have questions about this proposal, please tag your message with @Minotaur or @babygiraffe on the Dash Forum to ensure we see your question.

Requested funding is as follows for the February 3rd budget cycle:

• 2,178.06 Dash for integration expenses ($30,671 USD @ $14.082 per Dash based on the January 25th average rate at https://bitinfocharts.com/comparison/price-dash.html)
• 5.00 Dash reimbursement for the proposal cost

Total: 2,183.06 Dash

Note: Any unused funds from this business development funding will be directed toward other business development expenses.