[{"data":1,"prerenderedAt":2617},["ShallowReactive",2],{"blog-which-crypto-exchanges-to-list-on":3,"related-which-crypto-exchanges-to-list-on":585},{"_path":4,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":8,"description":9,"date":10,"author":11,"category":12,"tags":13,"keywords":18,"image":24,"readTime":25,"body":26,"_type":579,"_id":580,"_source":581,"_file":582,"_stem":583,"_extension":584},"/blog/which-crypto-exchanges-to-list-on","blog",false,"","The Right List of Crypto Exchanges for Your Token","A tier-by-tier framework for building your list of crypto exchanges, choosing venues by stage, and avoiding the liquidity fragmentation of listing too early.","2026-08-05","Fibonacci Capital","Exchanges",[14,15,16,17],"exchange listing","listing strategy","CEX","liquidity",[19,20,21,22,23],"list of crypto exchanges","crypto exchange list","crypto exchanges list","choosing a crypto exchange to list on","tier 1 crypto exchanges","/assets/images/blog/which-crypto-exchanges-to-list-on.jpg","8 min read",{"type":27,"children":28,"toc":560},"root",[29,38,44,49,55,60,67,72,78,83,89,94,100,105,111,116,121,135,141,146,151,157,162,175,180,186,191,204,209,215,220,276,281,287,467,473,478,532,537,543,548],{"type":30,"tag":31,"props":32,"children":34},"element","h2",{"id":33},"start-with-the-right-question",[35],{"type":36,"value":37},"text","Start With the Right Question",{"type":30,"tag":39,"props":40,"children":41},"p",{},[42],{"type":36,"value":43},"Search for a list of crypto exchanges and you will find dozens of them -- ranked by volume, sorted by region, filtered by CEX or DEX. None of that ranking tells you what to actually do. There are hundreds of venues where a token can theoretically trade, and knowing they exist is not the hard part. The hard part is deciding which handful fit your token, at this specific stage, given the liquidity and team capacity you actually have.",{"type":30,"tag":39,"props":45,"children":46},{},[47],{"type":36,"value":48},"That is the real question founders need answered before filing a single application: not \"what exchanges exist,\" but \"which ones earn a place on my token's list right now, and which should wait.\" Get the sequencing wrong and you end up with a token that trades everywhere and lives nowhere, with thin books and wide spreads across the board. This is a framework for making that call, tier by tier.",{"type":30,"tag":31,"props":50,"children":52},{"id":51},"exchange-tiers-and-what-each-one-actually-delivers",[53],{"type":36,"value":54},"Exchange Tiers and What Each One Actually Delivers",{"type":30,"tag":39,"props":56,"children":57},{},[58],{"type":36,"value":59},"Every exchange list groups venues into tiers, but the label matters less than what each tier gives a token. Four categories cover almost every crypto exchange list a project will encounter, trading off reach, liquidity, credibility, and access differently.",{"type":30,"tag":61,"props":62,"children":64},"h3",{"id":63},"tier-1-global-cexs",[65],{"type":36,"value":66},"Tier-1 Global CEXs",{"type":30,"tag":39,"props":68,"children":69},{},[70],{"type":36,"value":71},"The handful of centralized exchanges with the broadest global user base and deepest cross-asset liquidity. A listing here delivers the most exposure and the strongest credibility signal to investors and partners. It also comes with the highest bar: rigorous diligence, a real market-making commitment, and an expectation that demand already exists elsewhere. These venues are a destination, not a starting point.",{"type":30,"tag":61,"props":73,"children":75},{"id":74},"mid-tier-cexs",[76],{"type":36,"value":77},"Mid-Tier CEXs",{"type":30,"tag":39,"props":79,"children":80},{},[81],{"type":36,"value":82},"A broad band of established centralized exchanges with meaningful but narrower user bases than the largest platforms. They offer solid liquidity potential and real trading volume without the diligence burden of a tier-1 listing. For most projects, this tier is where a track record gets built -- proof that a token can sustain a healthy order book before a bigger venue takes a look.",{"type":30,"tag":61,"props":84,"children":86},{"id":85},"regional-cexs",[87],{"type":36,"value":88},"Regional CEXs",{"type":30,"tag":39,"props":90,"children":91},{},[92],{"type":36,"value":93},"Exchanges with concentrated strength in a specific country or region rather than global reach. Their value is not aggregate volume; it is access to a trading community a global platform serves poorly, whether because of language, payment rails, regulatory posture, or simply where a project's users are concentrated. A regional venue that reaches your community well can outperform a global platform that reaches it barely at all.",{"type":30,"tag":61,"props":95,"children":97},{"id":96},"dexs",[98],{"type":36,"value":99},"DEXs",{"type":30,"tag":39,"props":101,"children":102},{},[103],{"type":36,"value":104},"Decentralized exchanges require no application, no gatekeeper, and no waiting period. Liquidity is whatever the project and its community provide, and price discovery happens immediately and permissionlessly. A DEX listing is not a lesser version of a CEX listing -- it is a different mechanism, and for most tokens it is the correct starting point because it puts the project in control of its own initial liquidity rather than asking a third party for permission to exist.",{"type":30,"tag":31,"props":106,"children":108},{"id":107},"cex-vs-dex-a-sequencing-decision-not-an-eitheror",[109],{"type":36,"value":110},"CEX vs DEX: A Sequencing Decision, Not an Either/Or",{"type":30,"tag":39,"props":112,"children":113},{},[114],{"type":36,"value":115},"Founders often frame CEX and DEX listings as competing paths, as if a project must pick a lane. In practice, almost every successful token uses both, and the real decision is sequencing, not selection.",{"type":30,"tag":39,"props":117,"children":118},{},[119],{"type":36,"value":120},"A DEX listing at launch lets a project establish price discovery, seed initial liquidity, and generate the trading activity centralized exchanges later look for as evidence of organic demand. Nearly every mid-tier and tier-1 application asks, directly or indirectly, whether the token already trades and how deep that market is. A DEX history answers that question before you submit a form.",{"type":30,"tag":39,"props":122,"children":123},{},[124,126,133],{"type":36,"value":125},"From there, CEX listings add what a DEX cannot: a larger, less crypto-native user base, fiat on-ramps, and the credibility of passing an exchange's own diligence process. The question is never \"CEX or DEX\" -- it is which comes first, and what each stage needs to prove before the next makes sense. For a deeper look at what each model offers a token, see our comparison of ",{"type":30,"tag":127,"props":128,"children":130},"a",{"href":129},"/blog/centralized-vs-decentralized-exchanges",[131],{"type":36,"value":132},"centralized vs decentralized exchanges",{"type":36,"value":134},".",{"type":30,"tag":31,"props":136,"children":138},{"id":137},"why-regional-venues-matter-for-specific-communities",[139],{"type":36,"value":140},"Why Regional Venues Matter for Specific Communities",{"type":30,"tag":39,"props":142,"children":143},{},[144],{"type":36,"value":145},"It is tempting to treat regional exchanges as a lesser tier to skip in favor of global platforms. That instinct misreads what a regional venue is for. A token with a genuine community concentrated in a particular market -- built through local partnerships, language-specific content, or grassroots adoption -- will often see stronger, stickier trading on a regional exchange than on a global platform where it is one listing among thousands.",{"type":30,"tag":39,"props":147,"children":148},{},[149],{"type":36,"value":150},"Regional listings also diversify risk. A project that depends entirely on two or three global platforms for all its liquidity is exposed if any one changes listing terms or deprioritizes smaller-cap tokens. A regional presence, chosen deliberately, adds resilience alongside reach.",{"type":30,"tag":31,"props":152,"children":154},{"id":153},"the-cost-side-of-every-new-venue",[155],{"type":36,"value":156},"The Cost Side of Every New Venue",{"type":30,"tag":39,"props":158,"children":159},{},[160],{"type":36,"value":161},"Every exchange on a crypto exchange list represents a commitment, and the costs go well beyond whatever fee appears on an application form.",{"type":30,"tag":39,"props":163,"children":164},{},[165,167,173],{"type":36,"value":166},"Listing arrangements vary widely by exchange and project profile, ranging from straightforward fees to structures involving deposits, marketing commitments, or revenue-sharing terms. The specifics differ enough by venue and negotiating position to deserve their own treatment -- see our guide to ",{"type":30,"tag":127,"props":168,"children":170},{"href":169},"/blog/crypto-exchange-listing-fees",[171],{"type":36,"value":172},"crypto exchange listing fees",{"type":36,"value":174}," for what projects actually encounter.",{"type":30,"tag":39,"props":176,"children":177},{},[178],{"type":36,"value":179},"The less visible cost is the market-making obligation. Most exchanges beyond the smallest tier expect a professional market maker to keep spreads tight and depth reasonable after listing -- an ongoing operational and capital commitment, not a one-time cost, that scales with every additional venue a token adds. Token deposits and reserve requirements compound this further: many exchanges require working capital, in token or a paired asset, to support the order book being created. Every additional listing multiplies this, which is why the number of venues a project can responsibly support is smaller than the number that would accept an application.",{"type":30,"tag":31,"props":181,"children":183},{"id":182},"why-too-many-venues-too-early-backfires",[184],{"type":36,"value":185},"Why Too Many Venues, Too Early, Backfires",{"type":30,"tag":39,"props":187,"children":188},{},[189],{"type":36,"value":190},"The single most common mistake in exchange selection is not picking the wrong exchange -- it is picking too many before the token can support any of them well. Liquidity is finite: a project with a fixed amount of market-making capital that spreads itself across eight venues instead of three ends up with eight thin, unstable order books instead of three healthy ones.",{"type":30,"tag":39,"props":192,"children":193},{},[194,196,202],{"type":36,"value":195},"Fragmented liquidity shows up immediately in the numbers traders and other exchanges look at: wider spreads, shallower depth, and prices that drift out of sync between venues, creating arbitrage gaps that erode value rather than reward it. It also undermines the case for the next listing -- an exchange evaluating a new application wants to see a token that trades well somewhere, not poorly everywhere. Our guide to ",{"type":30,"tag":127,"props":197,"children":199},{"href":198},"/blog/cross-exchange-liquidity-management",[200],{"type":36,"value":201},"cross-exchange liquidity management",{"type":36,"value":203}," goes deeper on managing this once a token trades on multiple venues.",{"type":30,"tag":39,"props":205,"children":206},{},[207],{"type":36,"value":208},"This is the core of how Fibonacci Capital thinks about listing strategy with the projects we work with: every additional exchange is a liquidity commitment before it is a growth opportunity. The question we ask alongside a founder is never just \"can we get listed here,\" but \"can we support this venue well enough that it strengthens the token rather than diluting the depth we already have elsewhere.\"",{"type":30,"tag":31,"props":210,"children":212},{"id":211},"a-sensible-sequencing-model",[213],{"type":36,"value":214},"A Sensible Sequencing Model",{"type":30,"tag":39,"props":216,"children":217},{},[218],{"type":36,"value":219},"There is no single correct order for every token, but a pattern holds across most successful launches:",{"type":30,"tag":221,"props":222,"children":223},"ol",{},[224,236,246,256,266],{"type":30,"tag":225,"props":226,"children":227},"li",{},[228,234],{"type":30,"tag":229,"props":230,"children":231},"strong",{},[232],{"type":36,"value":233},"Launch liquidity on a DEX",{"type":36,"value":235},", sized to the project's actual treasury, to establish price discovery and a visible trading history.",{"type":30,"tag":225,"props":237,"children":238},{},[239,244],{"type":30,"tag":229,"props":240,"children":241},{},[242],{"type":36,"value":243},"Add one or two mid-tier CEXs",{"type":36,"value":245}," once DEX volume and community engagement show sustained demand, not a single day of launch hype.",{"type":30,"tag":225,"props":247,"children":248},{},[249,254],{"type":30,"tag":229,"props":250,"children":251},{},[252],{"type":36,"value":253},"Layer in a regional exchange",{"type":36,"value":255}," if the project has a genuine concentrated community a global platform is not serving well.",{"type":30,"tag":225,"props":257,"children":258},{},[259,264],{"type":30,"tag":229,"props":260,"children":261},{},[262],{"type":36,"value":263},"Pursue a tier-1 listing",{"type":36,"value":265}," once the token has a track record across the venues above: consistent volume, stable spreads, and a market-making relationship that can scale to a bigger order book.",{"type":30,"tag":225,"props":267,"children":268},{},[269,274],{"type":30,"tag":229,"props":270,"children":271},{},[272],{"type":36,"value":273},"Consolidate and defend depth",{"type":36,"value":275}," rather than adding venues indefinitely -- past a certain point, a new listing adds surface area without adding proportional liquidity.",{"type":30,"tag":39,"props":277,"children":278},{},[279],{"type":36,"value":280},"Each stage should make the next one easier, not harder. If adding a venue is straining the project's ability to support the ones it already has, that is a signal to pause, not to keep expanding the list.",{"type":30,"tag":31,"props":282,"children":284},{"id":283},"exchange-tiers-compared",[285],{"type":36,"value":286},"Exchange Tiers Compared",{"type":30,"tag":288,"props":289,"children":290},"table",{},[291,330],{"type":30,"tag":292,"props":293,"children":294},"thead",{},[295],{"type":30,"tag":296,"props":297,"children":298},"tr",{},[299,305,310,315,320,325],{"type":30,"tag":300,"props":301,"children":302},"th",{},[303],{"type":36,"value":304},"Venue Type",{"type":30,"tag":300,"props":306,"children":307},{},[308],{"type":36,"value":309},"Reach",{"type":30,"tag":300,"props":311,"children":312},{},[313],{"type":36,"value":314},"Liquidity Expectations",{"type":30,"tag":300,"props":316,"children":317},{},[318],{"type":36,"value":319},"Cost & Commitment",{"type":30,"tag":300,"props":321,"children":322},{},[323],{"type":36,"value":324},"Diligence Burden",{"type":30,"tag":300,"props":326,"children":327},{},[328],{"type":36,"value":329},"When It Makes Sense",{"type":30,"tag":331,"props":332,"children":333},"tbody",{},[334,368,401,434],{"type":30,"tag":296,"props":335,"children":336},{},[337,343,348,353,358,363],{"type":30,"tag":338,"props":339,"children":340},"td",{},[341],{"type":36,"value":342},"Tier-1 global CEX",{"type":30,"tag":338,"props":344,"children":345},{},[346],{"type":36,"value":347},"Broadest, cross-border, high credibility",{"type":30,"tag":338,"props":349,"children":350},{},[351],{"type":36,"value":352},"Must arrive with demonstrated depth and volume",{"type":30,"tag":338,"props":354,"children":355},{},[356],{"type":36,"value":357},"Highest -- significant market-making and capital commitment",{"type":30,"tag":338,"props":359,"children":360},{},[361],{"type":36,"value":362},"Extensive legal, technical, and market-readiness review",{"type":30,"tag":338,"props":364,"children":365},{},[366],{"type":36,"value":367},"After a track record exists on other venues",{"type":30,"tag":296,"props":369,"children":370},{},[371,376,381,386,391,396],{"type":30,"tag":338,"props":372,"children":373},{},[374],{"type":36,"value":375},"Mid-tier CEX",{"type":30,"tag":338,"props":377,"children":378},{},[379],{"type":36,"value":380},"Solid, established user base",{"type":30,"tag":338,"props":382,"children":383},{},[384],{"type":36,"value":385},"Achievable with a modest but real market-making program",{"type":30,"tag":338,"props":387,"children":388},{},[389],{"type":36,"value":390},"Moderate -- manageable for most funded projects",{"type":30,"tag":338,"props":392,"children":393},{},[394],{"type":36,"value":395},"Meaningful but not exhaustive review",{"type":30,"tag":338,"props":397,"children":398},{},[399],{"type":36,"value":400},"Building initial CEX track record and volume",{"type":30,"tag":296,"props":402,"children":403},{},[404,409,414,419,424,429],{"type":30,"tag":338,"props":405,"children":406},{},[407],{"type":36,"value":408},"Regional CEX",{"type":30,"tag":338,"props":410,"children":411},{},[412],{"type":36,"value":413},"Narrow but deep within a specific market",{"type":30,"tag":338,"props":415,"children":416},{},[417],{"type":36,"value":418},"Depends on genuine local community demand",{"type":30,"tag":338,"props":420,"children":421},{},[422],{"type":36,"value":423},"Low to moderate, varies by exchange",{"type":30,"tag":338,"props":425,"children":426},{},[427],{"type":36,"value":428},"Lighter, though compliance still applies",{"type":30,"tag":338,"props":430,"children":431},{},[432],{"type":36,"value":433},"Project has real traction in that specific region",{"type":30,"tag":296,"props":435,"children":436},{},[437,442,447,452,457,462],{"type":30,"tag":338,"props":438,"children":439},{},[440],{"type":36,"value":441},"DEX",{"type":30,"tag":338,"props":443,"children":444},{},[445],{"type":36,"value":446},"Permissionless, global by default",{"type":30,"tag":338,"props":448,"children":449},{},[450],{"type":36,"value":451},"Entirely a function of what the project seeds",{"type":30,"tag":338,"props":453,"children":454},{},[455],{"type":36,"value":456},"Lowest barrier to entry, but liquidity is self-funded",{"type":30,"tag":338,"props":458,"children":459},{},[460],{"type":36,"value":461},"None -- no application or approval process",{"type":30,"tag":338,"props":463,"children":464},{},[465],{"type":36,"value":466},"Launch and ongoing price discovery at every stage",{"type":30,"tag":31,"props":468,"children":470},{"id":469},"how-to-decide-a-practical-checklist",[471],{"type":36,"value":472},"How to Decide: A Practical Checklist",{"type":30,"tag":39,"props":474,"children":475},{},[476],{"type":36,"value":477},"Before adding any venue to your list of crypto exchanges, work through these questions:",{"type":30,"tag":479,"props":480,"children":481},"ul",{},[482,492,502,512,522],{"type":30,"tag":225,"props":483,"children":484},{},[485,490],{"type":30,"tag":229,"props":486,"children":487},{},[488],{"type":36,"value":489},"Does this venue serve users we don't already reach?",{"type":36,"value":491}," Duplicating a market you cover well adds cost without adding reach.",{"type":30,"tag":225,"props":493,"children":494},{},[495,500],{"type":30,"tag":229,"props":496,"children":497},{},[498],{"type":36,"value":499},"Can we support this listing's market-making commitment",{"type":36,"value":501}," on top of every commitment we already have, without thinning our existing books?",{"type":30,"tag":225,"props":503,"children":504},{},[505,510],{"type":30,"tag":229,"props":506,"children":507},{},[508],{"type":36,"value":509},"Does our trading history justify this tier?",{"type":36,"value":511}," A tier-1 application without demonstrated volume elsewhere burns credibility for a future attempt.",{"type":30,"tag":225,"props":513,"children":514},{},[515,520],{"type":30,"tag":229,"props":516,"children":517},{},[518],{"type":36,"value":519},"Are we adding this exchange for a strategic reason",{"type":36,"value":521},", or because a competitor listed there first?",{"type":30,"tag":225,"props":523,"children":524},{},[525,530],{"type":30,"tag":229,"props":526,"children":527},{},[528],{"type":36,"value":529},"Do we have the treasury runway to sustain this listing long-term",{"type":36,"value":531},", not just fund it at launch?",{"type":30,"tag":39,"props":533,"children":534},{},[535],{"type":36,"value":536},"A short, well-supported list of exchanges will consistently outperform a long, thin one -- in spread quality, in investor perception, and in how the token actually trades day to day.",{"type":30,"tag":31,"props":538,"children":540},{"id":539},"building-a-list-that-fits-your-token",[541],{"type":36,"value":542},"Building a List That Fits Your Token",{"type":30,"tag":39,"props":544,"children":545},{},[546],{"type":36,"value":547},"The right list of crypto exchanges is not the longest one available -- it is the one your token can actually support at each stage of its growth. Start where you control the terms, prove demand before you chase reach, and treat every new venue as a liquidity commitment that has to earn its place.",{"type":30,"tag":39,"props":549,"children":550},{},[551,553,559],{"type":36,"value":552},"If you are mapping out which exchanges make sense for your token's stage and want a second set of eyes on the sequencing, ",{"type":30,"tag":127,"props":554,"children":556},{"href":555},"/pretge",[557],{"type":36,"value":558},"get in touch with Fibonacci Capital",{"type":36,"value":134},{"title":7,"searchDepth":561,"depth":561,"links":562},2,[563,564,571,572,573,574,575,576,577,578],{"id":33,"depth":561,"text":37},{"id":51,"depth":561,"text":54,"children":565},[566,568,569,570],{"id":63,"depth":567,"text":66},3,{"id":74,"depth":567,"text":77},{"id":85,"depth":567,"text":88},{"id":96,"depth":567,"text":99},{"id":107,"depth":561,"text":110},{"id":137,"depth":561,"text":140},{"id":153,"depth":561,"text":156},{"id":182,"depth":561,"text":185},{"id":211,"depth":561,"text":214},{"id":283,"depth":561,"text":286},{"id":469,"depth":561,"text":472},{"id":539,"depth":561,"text":542},"markdown","content:blog:which-crypto-exchanges-to-list-on.md","content","blog/which-crypto-exchanges-to-list-on.md","blog/which-crypto-exchanges-to-list-on","md",[586,1442,2062],{"_path":587,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":588,"description":589,"date":590,"author":11,"category":12,"tags":591,"keywords":595,"image":601,"readTime":602,"body":603,"_type":579,"_id":1439,"_source":581,"_file":1440,"_stem":1441,"_extension":584},"/blog/how-to-get-listed-on-coingecko-and-coinmarketcap","How to Get Listed on CoinGecko and CoinMarketCap: A Checklist for Token Teams","How to get listed on CoinGecko and CoinMarketCap: the requirements, the application checklist, supply data that gets approved, and the mistakes that cause rejection.","2026-09-29",[592,593,594,14],"coingecko listing","coinmarketcap listing","token launch",[596,597,598,599,600],"how to get listed on coingecko","coinmarketcap listing requirements","coingecko listing requirements","list token on coinmarketcap","coingecko and coinmarketcap listing checklist","/assets/images/blog/how-to-get-listed-on-coingecko-and-coinmarketcap.jpg","9 min read",{"type":27,"children":604,"toc":1417},[605,610,615,621,626,659,664,670,675,681,686,699,705,723,729,752,758,771,777,782,787,887,892,905,911,916,924,996,1004,1035,1043,1092,1100,1131,1137,1143,1148,1154,1167,1173,1178,1184,1189,1195,1200,1206,1211,1217,1332,1337,1343,1348,1381,1394,1400,1405],{"type":30,"tag":39,"props":606,"children":607},{},[608],{"type":36,"value":609},"To get listed on CoinGecko and CoinMarketCap, your token must first be actively trading on at least one exchange or DEX pool that the platform already tracks. Once it is, you submit the official request form on each site (CoinGecko's \"new coin\" form and CoinMarketCap's listing request form), supplying a verified contract address, block explorer links, a logo, a website, official social channels and a clear, verifiable breakdown of circulating and total supply. The data aggregators do not list tokens that are not yet trading, and neither sells a place on its rankings through its standard process. Everything else in this guide is about getting the application approved the first time instead of the third.",{"type":30,"tag":39,"props":611,"children":612},{},[613],{"type":36,"value":614},"Why it matters: for most retail traders and a surprising number of funds, a token that is not on CoinGecko or CoinMarketCap barely exists. Wallets, portfolio trackers, tax tools and many DEX front-ends pull prices and metadata from these two sources. A missing or wrong listing costs visibility; a listing with wrong supply numbers costs credibility, because your market cap is published incorrectly to everyone who looks.",{"type":30,"tag":31,"props":616,"children":618},{"id":617},"what-coingecko-and-coinmarketcap-actually-check",[619],{"type":36,"value":620},"What CoinGecko and CoinMarketCap Actually Check",{"type":30,"tag":39,"props":622,"children":623},{},[624],{"type":36,"value":625},"Both platforms are data aggregators, not exchanges. They are not judging whether your project is a good investment. They are checking three things:",{"type":30,"tag":221,"props":627,"children":628},{},[629,639,649],{"type":30,"tag":225,"props":630,"children":631},{},[632,637],{"type":30,"tag":229,"props":633,"children":634},{},[635],{"type":36,"value":636},"Is the asset real and trading?",{"type":36,"value":638}," There must be a live market on a venue they track, with genuine activity.",{"type":30,"tag":225,"props":640,"children":641},{},[642,647],{"type":30,"tag":229,"props":643,"children":644},{},[645],{"type":36,"value":646},"Is the submitter really the project?",{"type":36,"value":648}," They verify that the request comes from the team, usually through an official email domain and confirmation from official channels.",{"type":30,"tag":225,"props":650,"children":651},{},[652,657],{"type":30,"tag":229,"props":653,"children":654},{},[655],{"type":36,"value":656},"Is the data accurate?",{"type":36,"value":658}," Contract addresses, supply figures and links must be correct and independently checkable.",{"type":30,"tag":39,"props":660,"children":661},{},[662],{"type":36,"value":663},"CoinMarketCap is generally regarded as the stricter of the two, particularly on trading activity and liquidity thresholds, and its review often takes longer. CoinGecko tends to be the first listing most new tokens get. Neither platform publishes a guaranteed turnaround, so plan your launch communications around \"listing submitted\", not a specific approval date.",{"type":30,"tag":31,"props":665,"children":667},{"id":666},"prerequisites-before-you-apply",[668],{"type":36,"value":669},"Prerequisites Before You Apply",{"type":30,"tag":39,"props":671,"children":672},{},[673],{"type":36,"value":674},"Do not submit until every item below is in place. Incomplete applications are the most common reason for rejection or long delays, and a rejected request can mean waiting before you can reapply.",{"type":30,"tag":61,"props":676,"children":678},{"id":677},"trading-market-on-a-tracked-venue",[679],{"type":36,"value":680},"Trading market on a tracked venue",{"type":30,"tag":39,"props":682,"children":683},{},[684],{"type":36,"value":685},"The token must trade on a centralized exchange or DEX that the aggregator already tracks. For DEX launches, this typically means a pool on a supported chain and DEX with real liquidity behind it. A pool seeded with a token amount of liquidity and a handful of trades rarely passes, and CoinMarketCap in particular looks for meaningful volume and depth.",{"type":30,"tag":39,"props":687,"children":688},{},[689,691,697],{"type":36,"value":690},"If you are still deciding where to trade first, the order matters here. A listing on a tracked centralized exchange often makes the aggregator application smoother. 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The aggregators publish market cap as price multiplied by circulating supply, so they want to see exactly how you arrived at your number.",{"type":30,"tag":39,"props":783,"children":784},{},[785],{"type":36,"value":786},"Prepare a supply breakdown that a reviewer can verify on-chain:",{"type":30,"tag":288,"props":788,"children":789},{},[790,806],{"type":30,"tag":292,"props":791,"children":792},{},[793],{"type":30,"tag":296,"props":794,"children":795},{},[796,801],{"type":30,"tag":300,"props":797,"children":798},{},[799],{"type":36,"value":800},"Item",{"type":30,"tag":300,"props":802,"children":803},{},[804],{"type":36,"value":805},"What to provide",{"type":30,"tag":331,"props":807,"children":808},{},[809,822,835,848,861,874],{"type":30,"tag":296,"props":810,"children":811},{},[812,817],{"type":30,"tag":338,"props":813,"children":814},{},[815],{"type":36,"value":816},"Total supply",{"type":30,"tag":338,"props":818,"children":819},{},[820],{"type":36,"value":821},"Figure matching the contract, net of any burns",{"type":30,"tag":296,"props":823,"children":824},{},[825,830],{"type":30,"tag":338,"props":826,"children":827},{},[828],{"type":36,"value":829},"Max supply",{"type":30,"tag":338,"props":831,"children":832},{},[833],{"type":36,"value":834},"Hard cap, or state clearly that there is none",{"type":30,"tag":296,"props":836,"children":837},{},[838,843],{"type":30,"tag":338,"props":839,"children":840},{},[841],{"type":36,"value":842},"Circulating supply",{"type":30,"tag":338,"props":844,"children":845},{},[846],{"type":36,"value":847},"The number, plus the calculation behind it",{"type":30,"tag":296,"props":849,"children":850},{},[851,856],{"type":30,"tag":338,"props":852,"children":853},{},[854],{"type":36,"value":855},"Excluded wallets",{"type":30,"tag":338,"props":857,"children":858},{},[859],{"type":36,"value":860},"Addresses for team, investor, treasury, foundation, ecosystem and vesting contracts, each labelled",{"type":30,"tag":296,"props":862,"children":863},{},[864,869],{"type":30,"tag":338,"props":865,"children":866},{},[867],{"type":36,"value":868},"Vesting and unlock schedule",{"type":30,"tag":338,"props":870,"children":871},{},[872],{"type":36,"value":873},"Dates and amounts, ideally linking to the vesting contract",{"type":30,"tag":296,"props":875,"children":876},{},[877,882],{"type":30,"tag":338,"props":878,"children":879},{},[880],{"type":36,"value":881},"Supply API (optional)",{"type":30,"tag":338,"props":883,"children":884},{},[885],{"type":36,"value":886},"An endpoint returning current circulating and total supply, if you want figures to update automatically",{"type":30,"tag":39,"props":888,"children":889},{},[890],{"type":36,"value":891},"The logic is simple: circulating supply is total supply minus tokens that are locked, unvested or held in project-controlled wallets that are not freely tradable. 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Our guide on ",{"type":30,"tag":127,"props":1387,"children":1389},{"href":1388},"/blog/how-much-liquidity-does-a-token-need-at-launch",[1390],{"type":36,"value":1391},"how much liquidity a token needs at launch",{"type":36,"value":1393}," covers sizing.",{"type":30,"tag":31,"props":1395,"children":1397},{"id":1396},"bringing-it-together",[1398],{"type":36,"value":1399},"Bringing It Together",{"type":30,"tag":39,"props":1401,"children":1402},{},[1403],{"type":36,"value":1404},"Getting listed on CoinGecko and CoinMarketCap is mostly preparation: a live, genuinely liquid market, a verified contract, an official presence that matches your application, and a circulating supply figure anyone can reproduce. Teams that treat it as a launch-week checklist item, rather than an afterthought, typically get listed faster and avoid the public confusion that comes with wrong data.",{"type":30,"tag":39,"props":1406,"children":1407},{},[1408,1410,1415],{"type":36,"value":1409},"At Fibonacci Capital, we help token teams prepare for launch and support healthy order books from the first trade, which is what both aggregators and the exchanges that follow them look at. If you are planning a TGE and want listing-ready liquidity from day one, see our ",{"type":30,"tag":127,"props":1411,"children":1412},{"href":555},[1413],{"type":36,"value":1414},"pre-TGE programme",{"type":36,"value":1416}," and get in touch.",{"title":7,"searchDepth":561,"depth":561,"links":1418},[1419,1420,1426,1427,1428,1436,1437,1438],{"id":617,"depth":561,"text":620},{"id":666,"depth":561,"text":669,"children":1421},[1422,1423,1424,1425],{"id":677,"depth":567,"text":680},{"id":701,"depth":567,"text":704},{"id":725,"depth":567,"text":728},{"id":754,"depth":567,"text":757},{"id":773,"depth":561,"text":776},{"id":907,"depth":561,"text":910},{"id":1133,"depth":561,"text":1136,"children":1429},[1430,1431,1432,1433,1434,1435],{"id":1139,"depth":567,"text":1142},{"id":1150,"depth":567,"text":1153},{"id":1169,"depth":567,"text":1172},{"id":1180,"depth":567,"text":1183},{"id":1191,"depth":567,"text":1194},{"id":1202,"depth":567,"text":1205},{"id":1213,"depth":561,"text":1216},{"id":1339,"depth":561,"text":1342},{"id":1396,"depth":561,"text":1399},"content:blog:how-to-get-listed-on-coingecko-and-coinmarketcap.md","blog/how-to-get-listed-on-coingecko-and-coinmarketcap.md","blog/how-to-get-listed-on-coingecko-and-coinmarketcap",{"_path":1443,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":1444,"description":1445,"date":1446,"author":11,"category":12,"tags":1447,"keywords":1449,"image":1455,"readTime":602,"body":1456,"_type":579,"_id":2059,"_source":581,"_file":2060,"_stem":2061,"_extension":584},"/blog/exchange-trading-competition-token-listing","Exchange Trading Competitions for Token Listings: 8 Mistakes Projects Make","Sponsoring an exchange trading competition at listing can build real markets or just rent volume. Eight mistakes token teams make, each with the fix.","2026-09-25",[14,1448,594,17],"trading competition",[1450,1451,1452,1453,1454],"exchange trading competition","crypto trading competition token listing","sponsor trading competition exchange","listing campaign prize pool","trading competition wash trading","/assets/images/blog/exchange-trading-competition-token-listing.jpg",{"type":27,"children":1457,"toc":2045},[1458,1464,1469,1474,1487,1493,1498,1633,1638,1644,1649,1654,1664,1670,1675,1690,1696,1701,1710,1716,1721,1730,1736,1741,1750,1756,1761,1770,1823,1835,1841,1846,1855,1893,1898,1904,1909,1918,1924,1929,2023,2029,2034],{"type":30,"tag":31,"props":1459,"children":1461},{"id":1460},"what-an-exchange-trading-competition-actually-buys-you",[1462],{"type":36,"value":1463},"What an Exchange Trading Competition Actually Buys You",{"type":30,"tag":39,"props":1465,"children":1466},{},[1467],{"type":36,"value":1468},"An exchange trading competition is a time-limited campaign, usually run by the exchange around a new listing, in which users compete for a prize pool — typically paid in the project's own token — based on trading volume, net buying or profit on the new pair. For a token team, sponsoring one is a way to pull the exchange's user base onto your pair in its first weeks. Done well, it seeds a real market with real participants. Done badly, it buys a volume chart that collapses the day the leaderboard closes and leaves a wave of rewarded sellers holding your token.",{"type":30,"tag":39,"props":1470,"children":1471},{},[1472],{"type":36,"value":1473},"Most exchanges offer some version of this as part of a listing package, and many will ask the project to fund the prize pool. That makes it one of the first large marketing decisions a team makes after signing a listing agreement, and one of the least scrutinised. Below are the eight mistakes that come up most often, and what to do instead.",{"type":30,"tag":39,"props":1475,"children":1476},{},[1477,1479,1485],{"type":36,"value":1478},"If you have not signed the listing yet, read the ",{"type":30,"tag":127,"props":1480,"children":1482},{"href":1481},"/blog/crypto-exchange-listing-agreement",[1483],{"type":36,"value":1484},"crypto exchange listing agreement guide",{"type":36,"value":1486}," first — the competition terms are often buried in the same document.",{"type":30,"tag":31,"props":1488,"children":1490},{"id":1489},"how-trading-competitions-are-usually-structured",[1491],{"type":36,"value":1492},"How Trading Competitions Are Usually Structured",{"type":30,"tag":39,"props":1494,"children":1495},{},[1496],{"type":36,"value":1497},"Before the mistakes, it helps to know the common formats. Exchanges vary, and the exact mechanics are set per campaign, but most fall into one of these patterns:",{"type":30,"tag":288,"props":1499,"children":1500},{},[1501,1522],{"type":30,"tag":292,"props":1502,"children":1503},{},[1504],{"type":30,"tag":296,"props":1505,"children":1506},{},[1507,1512,1517],{"type":30,"tag":300,"props":1508,"children":1509},{},[1510],{"type":36,"value":1511},"Format",{"type":30,"tag":300,"props":1513,"children":1514},{},[1515],{"type":36,"value":1516},"How winners are ranked",{"type":30,"tag":300,"props":1518,"children":1519},{},[1520],{"type":36,"value":1521},"What it tends to encourage",{"type":30,"tag":331,"props":1523,"children":1524},{},[1525,1543,1561,1579,1597,1615],{"type":30,"tag":296,"props":1526,"children":1527},{},[1528,1533,1538],{"type":30,"tag":338,"props":1529,"children":1530},{},[1531],{"type":36,"value":1532},"Volume leaderboard",{"type":30,"tag":338,"props":1534,"children":1535},{},[1536],{"type":36,"value":1537},"Total traded volume on the pair",{"type":30,"tag":338,"props":1539,"children":1540},{},[1541],{"type":36,"value":1542},"High turnover, self-matching, fee-farming",{"type":30,"tag":296,"props":1544,"children":1545},{},[1546,1551,1556],{"type":30,"tag":338,"props":1547,"children":1548},{},[1549],{"type":36,"value":1550},"Net buy leaderboard",{"type":30,"tag":338,"props":1552,"children":1553},{},[1554],{"type":36,"value":1555},"Buys minus sells over the period",{"type":30,"tag":338,"props":1557,"children":1558},{},[1559],{"type":36,"value":1560},"Accumulation during the event, selling after",{"type":30,"tag":296,"props":1562,"children":1563},{},[1564,1569,1574],{"type":30,"tag":338,"props":1565,"children":1566},{},[1567],{"type":36,"value":1568},"Profit / PnL ranking",{"type":30,"tag":338,"props":1570,"children":1571},{},[1572],{"type":36,"value":1573},"Realised or total return",{"type":30,"tag":338,"props":1575,"children":1576},{},[1577],{"type":36,"value":1578},"Directional trading, sometimes leverage",{"type":30,"tag":296,"props":1580,"children":1581},{},[1582,1587,1592],{"type":30,"tag":338,"props":1583,"children":1584},{},[1585],{"type":36,"value":1586},"Milestone or task rewards",{"type":30,"tag":338,"props":1588,"children":1589},{},[1590],{"type":36,"value":1591},"Hitting fixed thresholds (first trade, minimum volume)",{"type":30,"tag":338,"props":1593,"children":1594},{},[1595],{"type":36,"value":1596},"Broad participation, small tickets",{"type":30,"tag":296,"props":1598,"children":1599},{},[1600,1605,1610],{"type":30,"tag":338,"props":1601,"children":1602},{},[1603],{"type":36,"value":1604},"Shared pool",{"type":30,"tag":338,"props":1606,"children":1607},{},[1608],{"type":36,"value":1609},"Pro-rata share of a pool by activity",{"type":30,"tag":338,"props":1611,"children":1612},{},[1613],{"type":36,"value":1614},"Many participants, low reward per user",{"type":30,"tag":296,"props":1616,"children":1617},{},[1618,1623,1628],{"type":30,"tag":338,"props":1619,"children":1620},{},[1621],{"type":36,"value":1622},"Team competitions",{"type":30,"tag":338,"props":1624,"children":1625},{},[1626],{"type":36,"value":1627},"Aggregate team performance",{"type":30,"tag":338,"props":1629,"children":1630},{},[1631],{"type":36,"value":1632},"Community mobilisation, referral activity",{"type":30,"tag":39,"props":1634,"children":1635},{},[1636],{"type":36,"value":1637},"Each format produces a different kind of flow. Picking one is not a cosmetic choice — it decides who shows up and what they do when the campaign ends.",{"type":30,"tag":31,"props":1639,"children":1641},{"id":1640},"_1-rewarding-raw-volume",[1642],{"type":36,"value":1643},"1. Rewarding Raw Volume",{"type":30,"tag":39,"props":1645,"children":1646},{},[1647],{"type":36,"value":1648},"A pure volume leaderboard is the default at many venues because it is easy to explain and produces an impressive headline number. It is also the format most exposed to gaming. Volume can be manufactured by trading back and forth between accounts, and on venues with fee rebates or zero-fee promotions the cost of doing so can be small relative to the prize.",{"type":30,"tag":39,"props":1650,"children":1651},{},[1652],{"type":36,"value":1653},"The result is a leaderboard dominated by a handful of accounts churning the pair, while genuine new holders barely register. The volume figure goes into the listing recap; the order book underneath stays thin.",{"type":30,"tag":39,"props":1655,"children":1656},{},[1657,1662],{"type":30,"tag":229,"props":1658,"children":1659},{},[1660],{"type":36,"value":1661},"The fix.",{"type":36,"value":1663}," Weight rewards toward behaviour you actually want. Net buying with a holding requirement, minimum-balance snapshots after the event, or tiered milestone rewards spread across many users all dilute the advantage of pure churn. If the exchange insists on a volume leaderboard, ask what controls it runs against self-trading and cap the share of the pool any single account can win.",{"type":30,"tag":31,"props":1665,"children":1667},{"id":1666},"_2-ignoring-wash-trading-risk",[1668],{"type":36,"value":1669},"2. Ignoring Wash Trading Risk",{"type":30,"tag":39,"props":1671,"children":1672},{},[1673],{"type":36,"value":1674},"Even a well-designed competition attracts participants who trade with themselves. Beyond distorting results, this matters for your project's reputation: data aggregators and analysts increasingly discount or flag suspicious volume, and a listing week that looks artificially inflated invites exactly the scrutiny a new token does not need.",{"type":30,"tag":39,"props":1676,"children":1677},{},[1678,1682,1684,1689],{"type":30,"tag":229,"props":1679,"children":1680},{},[1681],{"type":36,"value":1661},{"type":36,"value":1683}," Ask the exchange in writing how it detects and disqualifies self-matched or linked-account activity, and whether disqualified volume is excluded from the reported figures. Keep your own team and vendors out of the competition entirely. For background on why this matters, see ",{"type":30,"tag":127,"props":1685,"children":1686},{"href":1161},[1687],{"type":36,"value":1688},"what wash trading is and how it is detected",{"type":36,"value":134},{"type":30,"tag":31,"props":1691,"children":1693},{"id":1692},"_3-paying-the-prize-pool-in-unlocked-tokens",[1694],{"type":36,"value":1695},"3. Paying the Prize Pool in Unlocked Tokens",{"type":30,"tag":39,"props":1697,"children":1698},{},[1699],{"type":36,"value":1700},"The most common structural error is paying winners in tokens that are immediately transferable. The people most motivated to win a trading competition are, by definition, active traders. Many of them will sell the reward the moment it lands. If distribution happens in one batch a week or two after listing, you have scheduled a concentrated sell event at the point your market is youngest.",{"type":30,"tag":39,"props":1702,"children":1703},{},[1704,1708],{"type":30,"tag":229,"props":1705,"children":1706},{},[1707],{"type":36,"value":1661},{"type":36,"value":1709}," Treat the prize pool as a small unlock and plan it like one. Options include staggered distribution over several weeks, a short vesting or lock on rewards, paying part of the pool in stablecoins, or conditioning rewards on holding a minimum balance until a later snapshot. At minimum, know the distribution date and make sure it does not collide with other unlocks. The same logic applies to larger vesting tranches.",{"type":30,"tag":31,"props":1711,"children":1713},{"id":1712},"_4-running-the-competition-on-a-thin-book",[1714],{"type":36,"value":1715},"4. Running the Competition on a Thin Book",{"type":30,"tag":39,"props":1717,"children":1718},{},[1719],{"type":36,"value":1720},"A competition pushes a burst of new users onto your pair at once. If the order book is shallow, their first experience is wide spreads and heavy slippage. Early buyers move the price sharply, the chart spikes, and the move reverses as soon as flow slows. That pattern is easy to misread internally as \"demand\" when it is mostly a liquidity problem.",{"type":30,"tag":39,"props":1722,"children":1723},{},[1724,1728],{"type":30,"tag":229,"props":1725,"children":1726},{},[1727],{"type":36,"value":1661},{"type":36,"value":1729}," Make sure professional liquidity is live and tested on the pair before the competition opens, with spread and depth commitments that hold through the campaign period. Size the prize pool relative to the depth you can support, not the other way round. A modest competition on a deep, tight book usually does more for price discovery than a large one on a thin book.",{"type":30,"tag":31,"props":1731,"children":1733},{"id":1732},"_5-misaligning-the-timeline-with-other-launch-events",[1734],{"type":36,"value":1735},"5. Misaligning the Timeline With Other Launch Events",{"type":30,"tag":39,"props":1737,"children":1738},{},[1739],{"type":36,"value":1740},"Trading competitions rarely run in isolation. The same weeks might include the TGE itself, airdrop claims, launchpad unlocks, a second exchange listing and a KOL push. Stacked badly, the competition ends just as airdrop recipients can sell and a vesting cliff opens, and every source of supply hits the market at once.",{"type":30,"tag":39,"props":1742,"children":1743},{},[1744,1748],{"type":30,"tag":229,"props":1745,"children":1746},{},[1747],{"type":36,"value":1661},{"type":36,"value":1749}," Put every supply and demand event on one calendar before agreeing dates: competition start and end, reward distribution, airdrop claim window, each unlock, each new listing. Stagger them so incentive-driven buying overlaps with supply events rather than following them, and so reward distributions never coincide with large unlocks.",{"type":30,"tag":31,"props":1751,"children":1753},{"id":1752},"_6-measuring-success-by-leaderboard-volume",[1754],{"type":36,"value":1755},"6. Measuring Success by Leaderboard Volume",{"type":30,"tag":39,"props":1757,"children":1758},{},[1759],{"type":36,"value":1760},"Exchange recap decks lead with total volume and participant count. Neither tells you whether the campaign worked. Volume can be recycled; participants can be one-trade tourists.",{"type":30,"tag":39,"props":1762,"children":1763},{},[1764,1768],{"type":30,"tag":229,"props":1765,"children":1766},{},[1767],{"type":36,"value":1661},{"type":36,"value":1769}," Agree the metrics before the campaign starts and ask the exchange for the data to measure them. Useful ones:",{"type":30,"tag":479,"props":1771,"children":1772},{},[1773,1783,1793,1803,1813],{"type":30,"tag":225,"props":1774,"children":1775},{},[1776,1781],{"type":30,"tag":229,"props":1777,"children":1778},{},[1779],{"type":36,"value":1780},"Unique traders and their distribution",{"type":36,"value":1782}," — how concentrated was the volume among the top accounts?",{"type":30,"tag":225,"props":1784,"children":1785},{},[1786,1791],{"type":30,"tag":229,"props":1787,"children":1788},{},[1789],{"type":36,"value":1790},"Net holder growth",{"type":36,"value":1792}," — did the number of accounts holding the token rise, and did it stay up two and four weeks later?",{"type":30,"tag":225,"props":1794,"children":1795},{},[1796,1801],{"type":30,"tag":229,"props":1797,"children":1798},{},[1799],{"type":36,"value":1800},"Depth and spread after the event",{"type":36,"value":1802}," — did the market get better or worse once incentives stopped?",{"type":30,"tag":225,"props":1804,"children":1805},{},[1806,1811],{"type":30,"tag":229,"props":1807,"children":1808},{},[1809],{"type":36,"value":1810},"Post-campaign volume retention",{"type":36,"value":1812}," — what share of daily volume remained a month on?",{"type":30,"tag":225,"props":1814,"children":1815},{},[1816,1821],{"type":30,"tag":229,"props":1817,"children":1818},{},[1819],{"type":36,"value":1820},"Reward sell-through",{"type":36,"value":1822}," — how much of the distributed prize pool was sold within days of distribution?",{"type":30,"tag":39,"props":1824,"children":1825},{},[1826,1828,1834],{"type":36,"value":1827},"If the answers are poor, the campaign rented activity rather than building a market. That is useful to know before you fund the next one. The distinction is covered in more depth in ",{"type":30,"tag":127,"props":1829,"children":1831},{"href":1830},"/blog/trading-volume-vs-liquidity",[1832],{"type":36,"value":1833},"trading volume vs liquidity",{"type":36,"value":134},{"type":30,"tag":31,"props":1836,"children":1838},{"id":1837},"_7-accepting-the-exchanges-default-terms",[1839],{"type":36,"value":1840},"7. Accepting the Exchange's Default Terms",{"type":30,"tag":39,"props":1842,"children":1843},{},[1844],{"type":36,"value":1845},"Competition terms are often presented as a standard template attached to the listing package. They are usually negotiable, and the defaults tend to favour the exchange's goals — volume and user acquisition — over yours.",{"type":30,"tag":39,"props":1847,"children":1848},{},[1849,1853],{"type":30,"tag":229,"props":1850,"children":1851},{},[1852],{"type":36,"value":1661},{"type":36,"value":1854}," Review the terms like any other commercial agreement. Points worth negotiating:",{"type":30,"tag":479,"props":1856,"children":1857},{},[1858,1863,1868,1873,1878,1883,1888],{"type":30,"tag":225,"props":1859,"children":1860},{},[1861],{"type":36,"value":1862},"The ranking metric and anti-abuse rules",{"type":30,"tag":225,"props":1864,"children":1865},{},[1866],{"type":36,"value":1867},"Maximum reward per account",{"type":30,"tag":225,"props":1869,"children":1870},{},[1871],{"type":36,"value":1872},"Eligibility (KYC level, region, new versus existing users)",{"type":30,"tag":225,"props":1874,"children":1875},{},[1876],{"type":36,"value":1877},"Distribution schedule and any lock on rewards",{"type":30,"tag":225,"props":1879,"children":1880},{},[1881],{"type":36,"value":1882},"Whether unused prize tokens are returned to the project",{"type":30,"tag":225,"props":1884,"children":1885},{},[1886],{"type":36,"value":1887},"Data you receive after the campaign, at account-level granularity where privacy rules allow",{"type":30,"tag":225,"props":1889,"children":1890},{},[1891],{"type":36,"value":1892},"Who bears the cost if the campaign is cancelled or delayed",{"type":30,"tag":39,"props":1894,"children":1895},{},[1896],{"type":36,"value":1897},"Also check regulatory fit. Prize-based trading promotions can raise consumer-protection or gambling-adjacent questions in some jurisdictions, and leveraged competitions add further considerations. Get legal input on whether the campaign is appropriate for the regions it targets.",{"type":30,"tag":31,"props":1899,"children":1901},{"id":1900},"_8-treating-the-competition-as-the-liquidity-plan",[1902],{"type":36,"value":1903},"8. Treating the Competition as the Liquidity Plan",{"type":30,"tag":39,"props":1905,"children":1906},{},[1907],{"type":36,"value":1908},"The deeper mistake is using a trading competition as a substitute for a liquidity strategy. Incentive-driven flow is temporary by design. When it ends, what remains is whatever structural liquidity was in place all along: market maker quotes, organic participants and the depth they provide.",{"type":30,"tag":39,"props":1910,"children":1911},{},[1912,1916],{"type":30,"tag":229,"props":1913,"children":1914},{},[1915],{"type":36,"value":1661},{"type":36,"value":1917}," See the competition as a short-term acquisition tool layered on top of a sustained market, not the market itself. Plan what happens in week five, not only week one: continued depth commitments, clear treasury policy, and a communications plan that gives new holders a reason to stay after the rewards stop.",{"type":30,"tag":31,"props":1919,"children":1921},{"id":1920},"pre-competition-checklist",[1922],{"type":36,"value":1923},"Pre-Competition Checklist",{"type":30,"tag":39,"props":1925,"children":1926},{},[1927],{"type":36,"value":1928},"Before you sign off on a sponsored trading competition, confirm:",{"type":30,"tag":479,"props":1930,"children":1932},{"className":1931},[927],[1933,1942,1951,1960,1969,1978,1987,1996,2005,2014],{"type":30,"tag":225,"props":1934,"children":1936},{"className":1935},[932],[1937,1940],{"type":30,"tag":935,"props":1938,"children":1939},{"disabled":937,"type":938},[],{"type":36,"value":1941}," Ranking metric rewards holding or net buying, not raw churn alone",{"type":30,"tag":225,"props":1943,"children":1945},{"className":1944},[932],[1946,1949],{"type":30,"tag":935,"props":1947,"children":1948},{"disabled":937,"type":938},[],{"type":36,"value":1950}," Per-account reward cap and written anti-wash-trading rules",{"type":30,"tag":225,"props":1952,"children":1954},{"className":1953},[932],[1955,1958],{"type":30,"tag":935,"props":1956,"children":1957},{"disabled":937,"type":938},[],{"type":36,"value":1959}," Prize distribution staggered or locked, with dates on the launch calendar",{"type":30,"tag":225,"props":1961,"children":1963},{"className":1962},[932],[1964,1967],{"type":30,"tag":935,"props":1965,"children":1966},{"disabled":937,"type":938},[],{"type":36,"value":1968}," Distribution does not coincide with unlocks, airdrop claims or other listings",{"type":30,"tag":225,"props":1970,"children":1972},{"className":1971},[932],[1973,1976],{"type":30,"tag":935,"props":1974,"children":1975},{"disabled":937,"type":938},[],{"type":36,"value":1977}," Market maker live on the pair with spread and depth commitments covering the campaign",{"type":30,"tag":225,"props":1979,"children":1981},{"className":1980},[932],[1982,1985],{"type":30,"tag":935,"props":1983,"children":1984},{"disabled":937,"type":938},[],{"type":36,"value":1986}," Prize pool sized relative to supportable depth",{"type":30,"tag":225,"props":1988,"children":1990},{"className":1989},[932],[1991,1994],{"type":30,"tag":935,"props":1992,"children":1993},{"disabled":937,"type":938},[],{"type":36,"value":1995}," Success metrics agreed and post-campaign data promised by the exchange",{"type":30,"tag":225,"props":1997,"children":1999},{"className":1998},[932],[2000,2003],{"type":30,"tag":935,"props":2001,"children":2002},{"disabled":937,"type":938},[],{"type":36,"value":2004}," Team, vendors and affiliated wallets excluded from participation",{"type":30,"tag":225,"props":2006,"children":2008},{"className":2007},[932],[2009,2012],{"type":30,"tag":935,"props":2010,"children":2011},{"disabled":937,"type":938},[],{"type":36,"value":2013}," Legal review of eligibility and target jurisdictions",{"type":30,"tag":225,"props":2015,"children":2017},{"className":2016},[932],[2018,2021],{"type":30,"tag":935,"props":2019,"children":2020},{"disabled":937,"type":938},[],{"type":36,"value":2022}," Plan for liquidity and communications after the campaign ends",{"type":30,"tag":31,"props":2024,"children":2026},{"id":2025},"the-bottom-line",[2027],{"type":36,"value":2028},"The Bottom Line",{"type":30,"tag":39,"props":2030,"children":2031},{},[2032],{"type":36,"value":2033},"An exchange trading competition amplifies whatever market already exists on your pair. On a deep, well-quoted book with a sensible reward design, it can bring genuine new holders into the token at a critical moment. On a thin book with a volume leaderboard and unlocked rewards, it buys a spike, a sell-off and a misleading recap deck.",{"type":30,"tag":39,"props":2035,"children":2036},{},[2037,2039,2044],{"type":36,"value":2038},"At Fibonacci Capital we see the difference most clearly in the weeks after a listing campaign ends, when incentive flow disappears and only structural liquidity is left. If you are planning a listing and want the market underneath your campaign built properly, ",{"type":30,"tag":127,"props":2040,"children":2041},{"href":555},[2042],{"type":36,"value":2043},"talk to us about launch and listing support",{"type":36,"value":134},{"title":7,"searchDepth":561,"depth":561,"links":2046},[2047,2048,2049,2050,2051,2052,2053,2054,2055,2056,2057,2058],{"id":1460,"depth":561,"text":1463},{"id":1489,"depth":561,"text":1492},{"id":1640,"depth":561,"text":1643},{"id":1666,"depth":561,"text":1669},{"id":1692,"depth":561,"text":1695},{"id":1712,"depth":561,"text":1715},{"id":1732,"depth":561,"text":1735},{"id":1752,"depth":561,"text":1755},{"id":1837,"depth":561,"text":1840},{"id":1900,"depth":561,"text":1903},{"id":1920,"depth":561,"text":1923},{"id":2025,"depth":561,"text":2028},"content:blog:exchange-trading-competition-token-listing.md","blog/exchange-trading-competition-token-listing.md","blog/exchange-trading-competition-token-listing",{"_path":2063,"_dir":5,"_draft":6,"_partial":6,"_locale":7,"title":2064,"description":2065,"date":2066,"category":12,"readTime":602,"author":11,"tags":2067,"keywords":2071,"image":2072,"body":2073,"_type":579,"_id":2614,"_source":581,"_file":2615,"_stem":2616,"_extension":584},"/blog/how-to-get-token-listed-on-perpetual-futures","How to Get Your Token Listed on Perpetual Futures: A Practical Guide","How to get a token listed on perpetual futures. What exchanges look for, how spot liquidity drives perp listings, and a checklist to prepare before you apply.","2026-09-23",[2068,14,2069,17,2070],"perpetual futures","derivatives","market making","how to get token listed on perpetual futures, perp listing requirements, crypto futures listing, token derivatives listing, perpetual swap listing, Fibonacci Capital","/assets/images/blog/how-to-get-token-listed-on-perpetual-futures.jpg",{"type":27,"children":2074,"toc":2602},[2075,2081,2086,2091,2097,2102,2112,2122,2132,2137,2143,2148,2293,2298,2304,2317,2322,2328,2333,2339,2344,2354,2364,2374,2391,2401,2406,2412,2524,2530,2540,2550,2560,2570,2580,2586,2591],{"type":30,"tag":31,"props":2076,"children":2078},{"id":2077},"the-short-answer",[2079],{"type":36,"value":2080},"The Short Answer",{"type":30,"tag":39,"props":2082,"children":2083},{},[2084],{"type":36,"value":2085},"You do not usually apply for a perpetual futures listing the way you apply for a spot listing. On most venues, perps follow spot — an exchange lists your perpetual contract because your spot market is already liquid enough to price and hedge it, not because you sent a form. The practical route to a perp listing is therefore to build the spot conditions that make one easy to justify: consistent two-sided depth, real volume that is not self-dealt, a reliable index across more than one venue, and a float large enough that a derivatives book cannot be squeezed by a single wallet.",{"type":30,"tag":39,"props":2087,"children":2088},{},[2089],{"type":36,"value":2090},"That reframing matters, because a lot of teams treat perps as a marketing milestone to chase in month two. The exchanges evaluating you are running a risk desk. They are asking whether they can quote, hedge and liquidate your contract without losing money. Everything below is about answering that question before they have to ask it.",{"type":30,"tag":31,"props":2092,"children":2094},{"id":2093},"why-exchanges-list-perps-at-all",[2095],{"type":36,"value":2096},"Why Exchanges List Perps at All",{"type":30,"tag":39,"props":2098,"children":2099},{},[2100],{"type":36,"value":2101},"A perpetual contract is a derivative the exchange is on the hook for. When a leveraged long gets liquidated, someone has to absorb that position, and the exchange's insurance fund is the backstop. That creates three concrete requirements.",{"type":30,"tag":39,"props":2103,"children":2104},{},[2105,2110],{"type":30,"tag":229,"props":2106,"children":2107},{},[2108],{"type":36,"value":2109},"The index must be hard to manipulate.",{"type":36,"value":2111}," Perp prices mark against an index composed of spot prices, usually from several venues. If your token trades meaningfully on one thin market, an attacker can move the index cheaply and print profit on the derivative. Exchanges look for a token that trades in size across multiple venues so that no single order book controls the mark.",{"type":30,"tag":39,"props":2113,"children":2114},{},[2115,2120],{"type":30,"tag":229,"props":2116,"children":2117},{},[2118],{"type":36,"value":2119},"Liquidations must be absorbable.",{"type":36,"value":2121}," When a large leveraged position is force-closed, the resulting market order hits the book. If your spot depth cannot absorb that flow without a violent move, liquidations cascade, the insurance fund takes losses, and the listing becomes a liability. This is the single most common reason a perp listing gets declined or delayed.",{"type":30,"tag":39,"props":2123,"children":2124},{},[2125,2130],{"type":30,"tag":229,"props":2126,"children":2127},{},[2128],{"type":36,"value":2129},"Funding must be able to converge.",{"type":36,"value":2131}," The funding rate mechanism relies on arbitrageurs holding a perp position against an opposite spot position. If spot borrow is impossible, or spot liquidity is too thin to build the hedge at reasonable cost, funding detaches and the contract trades at a persistent premium or discount that makes it useless.",{"type":30,"tag":39,"props":2133,"children":2134},{},[2135],{"type":36,"value":2136},"Every listing criterion below reduces to one of those three.",{"type":30,"tag":31,"props":2138,"children":2140},{"id":2139},"what-exchanges-actually-evaluate",[2141],{"type":36,"value":2142},"What Exchanges Actually Evaluate",{"type":30,"tag":39,"props":2144,"children":2145},{},[2146],{"type":36,"value":2147},"Criteria differ by venue and are rarely published in full, so treat this as the shape of the assessment rather than a scoring rubric. The evaluation typically covers:",{"type":30,"tag":288,"props":2149,"children":2150},{},[2151,2167],{"type":30,"tag":292,"props":2152,"children":2153},{},[2154],{"type":30,"tag":296,"props":2155,"children":2156},{},[2157,2162],{"type":30,"tag":300,"props":2158,"children":2159},{},[2160],{"type":36,"value":2161},"Area",{"type":30,"tag":300,"props":2163,"children":2164},{},[2165],{"type":36,"value":2166},"What they are testing",{"type":30,"tag":331,"props":2168,"children":2169},{},[2170,2183,2196,2209,2222,2235,2248,2261,2274],{"type":30,"tag":296,"props":2171,"children":2172},{},[2173,2178],{"type":30,"tag":338,"props":2174,"children":2175},{},[2176],{"type":36,"value":2177},"Spot liquidity",{"type":30,"tag":338,"props":2179,"children":2180},{},[2181],{"type":36,"value":2182},"Depth within a tight band of mid, on both sides, sustained across sessions — not a snapshot",{"type":30,"tag":296,"props":2184,"children":2185},{},[2186,2191],{"type":30,"tag":338,"props":2187,"children":2188},{},[2189],{"type":36,"value":2190},"Venue distribution",{"type":30,"tag":338,"props":2192,"children":2193},{},[2194],{"type":36,"value":2195},"Whether price discovery exists on more than one exchange, so an index can be built",{"type":30,"tag":296,"props":2197,"children":2198},{},[2199,2204],{"type":30,"tag":338,"props":2200,"children":2201},{},[2202],{"type":36,"value":2203},"Volume quality",{"type":30,"tag":338,"props":2205,"children":2206},{},[2207],{"type":36,"value":2208},"Whether volume is organic, or churned between related accounts",{"type":30,"tag":296,"props":2210,"children":2211},{},[2212,2217],{"type":30,"tag":338,"props":2213,"children":2214},{},[2215],{"type":36,"value":2216},"Circulating float",{"type":30,"tag":338,"props":2218,"children":2219},{},[2220],{"type":36,"value":2221},"Whether enough supply trades freely that a derivatives book cannot be cornered",{"type":30,"tag":296,"props":2223,"children":2224},{},[2225,2230],{"type":30,"tag":338,"props":2226,"children":2227},{},[2228],{"type":36,"value":2229},"Holder concentration",{"type":30,"tag":338,"props":2231,"children":2232},{},[2233],{"type":36,"value":2234},"Whether a small number of wallets could move the index deliberately",{"type":30,"tag":296,"props":2236,"children":2237},{},[2238,2243],{"type":30,"tag":338,"props":2239,"children":2240},{},[2241],{"type":36,"value":2242},"Volatility profile",{"type":30,"tag":338,"props":2244,"children":2245},{},[2246],{"type":36,"value":2247},"Whether historical volatility is within the range their margin model handles",{"type":30,"tag":296,"props":2249,"children":2250},{},[2251,2256],{"type":30,"tag":338,"props":2252,"children":2253},{},[2254],{"type":36,"value":2255},"Unlock schedule",{"type":30,"tag":338,"props":2257,"children":2258},{},[2259],{"type":36,"value":2260},"Whether a cliff is about to dump supply into a leveraged market",{"type":30,"tag":296,"props":2262,"children":2263},{},[2264,2269],{"type":30,"tag":338,"props":2265,"children":2266},{},[2267],{"type":36,"value":2268},"Contract and custody",{"type":30,"tag":338,"props":2270,"children":2271},{},[2272],{"type":36,"value":2273},"Standard token contract behaviour, no transfer hooks or rebasing that break settlement",{"type":30,"tag":296,"props":2275,"children":2276},{},[2277,2282],{"type":30,"tag":338,"props":2278,"children":2279},{},[2280],{"type":36,"value":2281},"Team and legal standing",{"type":30,"tag":338,"props":2283,"children":2284},{},[2285,2287,2291],{"type":36,"value":2286},"The same diligence any ",{"type":30,"tag":127,"props":2288,"children":2289},{"href":693},[2290],{"type":36,"value":14},{"type":36,"value":2292}," involves",{"type":30,"tag":39,"props":2294,"children":2295},{},[2296],{"type":36,"value":2297},"Two of these deserve elaboration because teams routinely misjudge them.",{"type":30,"tag":61,"props":2299,"children":2301},{"id":2300},"depth-not-volume",[2302],{"type":36,"value":2303},"Depth, Not Volume",{"type":30,"tag":39,"props":2305,"children":2306},{},[2307,2309,2315],{"type":36,"value":2308},"Volume is the number projects optimise for, because it is the number displayed. Derivatives desks care far more about depth — how much can be bought or sold within a defined band of the mid price before it moves. A token can post impressive daily volume while having an order book so thin that a moderate market order walks it several percent. That combination is precisely the profile that makes a perp listing dangerous, and it is visible immediately to anyone who looks at the book rather than the ticker. If you have not modelled this, start with the mechanics of ",{"type":30,"tag":127,"props":2310,"children":2312},{"href":2311},"/blog/importance-of-order-book-depth",[2313],{"type":36,"value":2314},"order book depth",{"type":36,"value":2316}," and measure yours honestly.",{"type":30,"tag":39,"props":2318,"children":2319},{},[2320],{"type":36,"value":2321},"The practical test to run on yourself: take the largest plausible liquidation size on a hypothetical perp for your token, and check what that order would do to your current spot book. If the answer embarrasses you, you are not ready, and no amount of application polish will change the assessment.",{"type":30,"tag":61,"props":2323,"children":2325},{"id":2324},"float-and-concentration",[2326],{"type":36,"value":2327},"Float and Concentration",{"type":30,"tag":39,"props":2329,"children":2330},{},[2331],{"type":36,"value":2332},"A leveraged market on a token with a tiny float and concentrated holders is an invitation. A handful of wallets can move spot enough to trigger liquidations on the derivative and collect the other side. Exchanges know this pattern well and screen for it. A float that looks clever at TGE can be the thing that blocks derivatives access for a year, which is one more reason to think about supply structure early rather than in reaction.",{"type":30,"tag":31,"props":2334,"children":2336},{"id":2335},"the-realistic-sequence",[2337],{"type":36,"value":2338},"The Realistic Sequence",{"type":30,"tag":39,"props":2340,"children":2341},{},[2342],{"type":36,"value":2343},"For most tokens the path looks like this, and trying to skip steps tends to cost more time than following them.",{"type":30,"tag":39,"props":2345,"children":2346},{},[2347,2352],{"type":30,"tag":229,"props":2348,"children":2349},{},[2350],{"type":36,"value":2351},"1. Establish a credible spot market on your primary venue.",{"type":36,"value":2353}," One venue with genuine depth is worth more than four thin listings. Fix depth and spread targets, meet them consistently, and make sure they hold during volatile sessions rather than only in quiet ones.",{"type":30,"tag":39,"props":2355,"children":2356},{},[2357,2362],{"type":30,"tag":229,"props":2358,"children":2359},{},[2360],{"type":36,"value":2361},"2. Add a second and third venue with real liquidity.",{"type":36,"value":2363}," This is the index requirement. The goal is not the announcement — it is that a derivatives desk can construct a mark price from more than one source. Thin listings added purely for the logo do not count toward this and can actively hurt if they introduce a manipulable price feed.",{"type":30,"tag":39,"props":2365,"children":2366},{},[2367,2372],{"type":30,"tag":229,"props":2368,"children":2369},{},[2370],{"type":36,"value":2371},"3. Let the market build an honest track record.",{"type":36,"value":2373}," Several months of consistent depth, organic volume, and normal volatility is worth more than any deck. Exchanges look backwards, not at projections.",{"type":30,"tag":39,"props":2375,"children":2376},{},[2377,2382,2384,2390],{"type":30,"tag":229,"props":2378,"children":2379},{},[2380],{"type":36,"value":2381},"4. Clear the unlock calendar.",{"type":36,"value":2383}," Approaching a listing conversation with a large cliff weeks away is a straightforward decline. Either get past it, or restructure so the release is linear and absorbable. The mechanics of managing that are covered in our guide to ",{"type":30,"tag":127,"props":2385,"children":2387},{"href":2386},"/blog/token-unlocks-managing-sell-pressure",[2388],{"type":36,"value":2389},"token unlocks and sell pressure",{"type":36,"value":134},{"type":30,"tag":39,"props":2392,"children":2393},{},[2394,2399],{"type":30,"tag":229,"props":2395,"children":2396},{},[2397],{"type":36,"value":2398},"5. Then open the conversation.",{"type":36,"value":2400}," By this point you are not asking for a favour. You are presenting a market that is already easy to underwrite.",{"type":30,"tag":39,"props":2402,"children":2403},{},[2404],{"type":36,"value":2405},"Some venues — particularly decentralised perp protocols and newer offshore derivatives exchanges — will list earlier and with lighter requirements. That is a legitimate route to establishing derivatives history, and for some tokens it is the right first step. Be clear-eyed about the trade: a perp market with thin open interest and erratic funding can produce a price series that reflects badly on you, and it will be visible to the larger venue you actually want.",{"type":30,"tag":31,"props":2407,"children":2409},{"id":2408},"preparation-checklist",[2410],{"type":36,"value":2411},"Preparation Checklist",{"type":30,"tag":479,"props":2413,"children":2415},{"className":2414},[927],[2416,2425,2434,2443,2452,2461,2470,2479,2488,2497,2506,2515],{"type":30,"tag":225,"props":2417,"children":2419},{"className":2418},[932],[2420,2423],{"type":30,"tag":935,"props":2421,"children":2422},{"disabled":937,"type":938},[],{"type":36,"value":2424}," Depth targets defined in dollars within a stated band of mid, measured on both sides",{"type":30,"tag":225,"props":2426,"children":2428},{"className":2427},[932],[2429,2432],{"type":30,"tag":935,"props":2430,"children":2431},{"disabled":937,"type":938},[],{"type":36,"value":2433}," Depth verified during volatile sessions, not only during quiet hours",{"type":30,"tag":225,"props":2435,"children":2437},{"className":2436},[932],[2438,2441],{"type":30,"tag":935,"props":2439,"children":2440},{"disabled":937,"type":938},[],{"type":36,"value":2442}," Spot liquidity live on at least two venues capable of supporting an index",{"type":30,"tag":225,"props":2444,"children":2446},{"className":2445},[932],[2447,2450],{"type":30,"tag":935,"props":2448,"children":2449},{"disabled":937,"type":938},[],{"type":36,"value":2451}," Largest plausible liquidation size modelled against the current spot book",{"type":30,"tag":225,"props":2453,"children":2455},{"className":2454},[932],[2456,2459],{"type":30,"tag":935,"props":2457,"children":2458},{"disabled":937,"type":938},[],{"type":36,"value":2460}," Volume auditable and organic — no wash trading anywhere in your history",{"type":30,"tag":225,"props":2462,"children":2464},{"className":2463},[932],[2465,2468],{"type":30,"tag":935,"props":2466,"children":2467},{"disabled":937,"type":938},[],{"type":36,"value":2469}," Circulating float large enough that no single holder can move the index cheaply",{"type":30,"tag":225,"props":2471,"children":2473},{"className":2472},[932],[2474,2477],{"type":30,"tag":935,"props":2475,"children":2476},{"disabled":937,"type":938},[],{"type":36,"value":2478}," Top holder concentration documented and defensible",{"type":30,"tag":225,"props":2480,"children":2482},{"className":2481},[932],[2483,2486],{"type":30,"tag":935,"props":2484,"children":2485},{"disabled":937,"type":938},[],{"type":36,"value":2487}," No major unlock cliff within the listing window",{"type":30,"tag":225,"props":2489,"children":2491},{"className":2490},[932],[2492,2495],{"type":30,"tag":935,"props":2493,"children":2494},{"disabled":937,"type":938},[],{"type":36,"value":2496}," Token contract free of transfer hooks, rebasing or fee-on-transfer behaviour",{"type":30,"tag":225,"props":2498,"children":2500},{"className":2499},[932],[2501,2504],{"type":30,"tag":935,"props":2502,"children":2503},{"disabled":937,"type":938},[],{"type":36,"value":2505}," Historical volatility measured and within a range a margin model can price",{"type":30,"tag":225,"props":2507,"children":2509},{"className":2508},[932],[2510,2513],{"type":30,"tag":935,"props":2511,"children":2512},{"disabled":937,"type":938},[],{"type":36,"value":2514}," Market making arrangement in place that can support both spot and, later, the derivative",{"type":30,"tag":225,"props":2516,"children":2518},{"className":2517},[932],[2519,2522],{"type":30,"tag":935,"props":2520,"children":2521},{"disabled":937,"type":938},[],{"type":36,"value":2523}," Legal and jurisdictional position reviewed for derivatives availability",{"type":30,"tag":31,"props":2525,"children":2527},{"id":2526},"mistakes-that-delay-perp-listings",[2528],{"type":36,"value":2529},"Mistakes That Delay Perp Listings",{"type":30,"tag":39,"props":2531,"children":2532},{},[2533,2538],{"type":30,"tag":229,"props":2534,"children":2535},{},[2536],{"type":36,"value":2537},"Chasing the listing before the spot market is real.",{"type":36,"value":2539}," The most common failure. A perp on an illiquid token is worse than no perp — it produces erratic funding, wide basis and a price chart that looks unstable.",{"type":30,"tag":39,"props":2541,"children":2542},{},[2543,2548],{"type":30,"tag":229,"props":2544,"children":2545},{},[2546],{"type":36,"value":2547},"Inflating volume to look listing-ready.",{"type":36,"value":2549}," Derivatives desks are the most sophisticated evaluators in the exchange. Churned volume is detectable and turns a \"not yet\" into a closed door.",{"type":30,"tag":39,"props":2551,"children":2552},{},[2553,2558],{"type":30,"tag":229,"props":2554,"children":2555},{},[2556],{"type":36,"value":2557},"Adding thin venues to satisfy the multi-venue requirement.",{"type":36,"value":2559}," Distribution means liquidity in multiple places, not tickers in multiple places. A thin third venue makes your index easier to manipulate, which is the opposite of what is being asked.",{"type":30,"tag":39,"props":2561,"children":2562},{},[2563,2568],{"type":30,"tag":229,"props":2564,"children":2565},{},[2566],{"type":36,"value":2567},"Ignoring the funding mechanism.",{"type":36,"value":2569}," If no one can construct a spot hedge against the perp at reasonable cost, funding will not converge. Ask whether an arbitrageur could realistically run the trade on your token today. If not, the contract will not behave.",{"type":30,"tag":39,"props":2571,"children":2572},{},[2573,2578],{"type":30,"tag":229,"props":2574,"children":2575},{},[2576],{"type":36,"value":2577},"Treating derivatives liquidity as automatic.",{"type":36,"value":2579}," Depth on the perp book is its own problem, with its own market making requirements. A listing granted is not a functioning market delivered.",{"type":30,"tag":31,"props":2581,"children":2583},{"id":2582},"where-this-connects-to-liquidity-provision",[2584],{"type":36,"value":2585},"Where This Connects to Liquidity Provision",{"type":30,"tag":39,"props":2587,"children":2588},{},[2589],{"type":36,"value":2590},"The through-line is that every perp listing requirement is a spot liquidity requirement wearing different clothes. Index integrity is depth across venues. Absorbable liquidations are depth in dollars. Convergent funding is a hedge that can actually be built. A team that has run a serious spot market for two or three quarters tends to find the derivatives conversation short; a team that has not tends to find it unwinnable regardless of how the application is written.",{"type":30,"tag":39,"props":2592,"children":2593},{},[2594,2596,2601],{"type":36,"value":2595},"At Fibonacci Capital we work with token teams on exactly this progression — building spot depth that holds under stress, extending it across the venues that make an index credible, and supporting the derivative once it exists. If you are planning toward a perpetual futures listing and want the spot side modelled against that target before you approach an exchange, ",{"type":30,"tag":127,"props":2597,"children":2598},{"href":555},[2599],{"type":36,"value":2600},"get in touch",{"type":36,"value":134},{"title":7,"searchDepth":561,"depth":561,"links":2603},[2604,2605,2606,2610,2611,2612,2613],{"id":2077,"depth":561,"text":2080},{"id":2093,"depth":561,"text":2096},{"id":2139,"depth":561,"text":2142,"children":2607},[2608,2609],{"id":2300,"depth":567,"text":2303},{"id":2324,"depth":567,"text":2327},{"id":2335,"depth":561,"text":2338},{"id":2408,"depth":561,"text":2411},{"id":2526,"depth":561,"text":2529},{"id":2582,"depth":561,"text":2585},"content:blog:how-to-get-token-listed-on-perpetual-futures.md","blog/how-to-get-token-listed-on-perpetual-futures.md","blog/how-to-get-token-listed-on-perpetual-futures",1790817376552]