In Arthur Hayes recent blog, he highlights the challenges of token listings in the crypto market, emphasizing the impact of high CEX fees on projects and investors. The current market operates in a predatory “PvP” mode, conveying a predatory atmosphere and a zero-sum game where victories come at the expense of others. Many new tokens see price drops post-listing, especially when high fees are involved.
As most newly listed projects underperform, CEXs now favor “high-quality” projects, making it difficult for young projects to meet their standards. In contrast, DEXs allow permissionless market creation, enabling projects to set up liquidity pools and engage directly with their communities without incurring fees.
Auki Labs serves as an example, saving $200,000 in CEX fees by listing on a #DEX and achieving a 78% price increase. Hayes advises project teams to prioritize product development and user engagement, leveraging DEXs for equitable growth rather than chasing short-term gains through expensive CEX listings.
For project teams that blindly pursue CEX listings, Hayes reminds them to focus on long-term value, rather than short-term price fluctuations and market hype.
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