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Jul 8 1 tweets 5 min read Read on X
Token listing strategy playbook

📔 Founders especially, save this if you are planning to launch a token soon.

When discussing portfolio value add, it’s not just making introductions to other VCs/angels to fill up the fundraising round but actually getting hands-on with founders to devise a proper strategy for success. One of it includes a proper token listing strategy on trusted centralised exchanges (CEX).

- - - - - - - - -

Here is a high-level guide I’ve written to help you and your project navigate the murky waters of getting your token listed on a major CEX.

I’ll break it down into 5 sections:
• Token listing documents
• CEX and market maker negotiations
• Community
• Media coverage
• Misc

Before diving deeper, it is imperative to have a good fundraising plan before launching a token strategy.

Make sure you nail the following:
• Carve out a budget to pay for exchange listing fees (gets higher in a bull market) and market making (retainer) fees.
• Strategise on how to fundraise from the venture arm of large CEXes (@BinanceLabs, @cbventures, @OKX_Ventures) as it improves the chances of listing.
• Build relationships with VCs/ angels who have strong connections in the industry.

- - - - - - - - -

1. Token listing documents
In anticipation of a token launch, projects will need to prepare a few documents beforehand and they are the main requirements for a CEX listing.

This includes:
• A well written whitepaper (detailing the project’s vision and mission, explaining the protocol mechanism, team, roadmap).
• Tokenomics (token details, utility, vesting schedule, sustainable distribution).
• Protocol security and token audit from a trusted audit provider.
• Legal documents (entity documents, legal opinion from a lawyer).
• Investment and fundraising documents (last valuation raised at, cap table).
• Completed CEX listing forms (each CEX will have its own unique token listing form to fill up —> generally includes company incorporation, financial data, team, tokenomics, protocol mechanism, community and traction, legal documents).

- - - - - - - - -

2. CEX and market maker negotiations
(a) CEX
These days, every CEX listing involves a listing fee and these varies from paying in stablecoin USD terms to giving out a % of the token total supply. From our discussions, expect to pay a fee between $200k - $500k (sometimes more) or give out 5-20% of total token supply.

Apart from listing fees, projects can also be expected to pay for technical fees (audit, token integration), marketing fees and security deposits.

There is a backlog on every CEX now as more and more projects vie for a token listing. Building relationships + connections with the right people can expedite your success.

It is also crucial for founders to apply for listings on multiple CEXes to increase the chances of securing a token listing + use it for negotiations. Good to have a collaboration + marketing campaign with DeFi wallets of various CEXes for more eyeballs.

(b) Market Makers (MM)
Onboarding MMs is a necessary part of the listing process to maintain price stability and ensure healthy liquidity for the token.

MMs typically fall into 2 categories:
• Loan + option model: MM borrow tokens from the project to provide liquidity and are granted call options (the right to purchase the token at a cheaper price)
• Retainer + profit share model: project pay the MM monthly fees to maintain liquidity

@0xLouisT and @minjung_eth did some good research on MMs:

- - - - - - - - -

3. Community and socials
Form a strong (almost cult-like) and engaged community who will serve as your first set of users and word of mouth marketers.

Some tips:
• Discord <> Telegram/WeChat <> Twitter —> nail the trifecta of social media.
• Hire good community managers to manage Discord and Telegram groups, ecosystem/ BD leads to secure partnerships and localisation strategies (e.g. APAC lead/ head of marketing in Korea).
• Be active on Twitter from the main account + founder’s account to keep users informed with project updates + evangelise the product. Bonus if the project has a dedicated intern account/shitposter to get maximum mindshare (@intern <> @monad_xyz, @HugoMartingale <> @Polymarket).
• Integrate with major questing platforms for another source of GTM (e.g. @Galxe, @zealy_io and @layer3xyz) and building communities.
• Founders need to be constantly evangelising their project and be excited about what they are building. (Study @keoneHD <> @monad_xyz, @Punk9277 <> @_kaitoai, @SmokeyTheBera <> @berachain, @Taran_ss <> @stix_co).
• Airdrops to power users + making them rich is one of the best ways to form a loyal set of users (albeit a bit hard these days with industrial farms and sybils).

- - - - - - - - -

4. Media coverage
Crypto Twitter (CT) is inundated daily with memes, shitposts, charts, project updates, threads. Projects need a well-designed + comprehensive marketing plan to ensure all angles are adequately covered.

High level strats:
• Publishing on major crypto news portals to get maximum coverage from publications like @TheBlock__, @Foresight_News, @BlockBeatsAsia and @PANewsCN.
• KOL marketing which usually involves paid promotion or letting them invest at a lower valuation in exchange for marketing content (threads, articles, videos, channel shoutout).
• Outsourcing to top tier marketing agencies. Some of the good ones I have had the pleasure of working with includes @snow949494, @cryptofreedman <> @hypepartners, @JiraiyaReal <> @TailoredWeb3, @ciaobelindazhou <> @ShardDXB.
• Publishing deep research articles: apart from the big bois like @Delphi_Digital, @MessariCrypto, @blockworksres, there are many high quality firms that can be used like @Ian_Unsworth <> @kairos_res, @Steve_4P <> @FourPillarsFP, @blocmatesdotcom, @asxn_r and @Shoalresearch.

- - - - - - - - -

5. Misc
• @coingecko / @CoinMarketCap token listing.
• @dexscreener enhanced token information.
• @DefiLlama project listing.
• @DuneAnalytics dashboards to showcase relevant on-chain metrics and user analysis.
• @DeBankDeFi supported protocol.
• @tokenterminal data partnership.

- - - - - - - - - -

I'll caveat this by saying that every token launch is unique and a cookie-cutter approach is usually NGMI.

A successful launch obviously involves way more than what I’ve covered here - this is just the tip of the iceberg.

If you’re working on a new project and want to learn more about the ins and outs of launching a token, feel free to reach out to @signum_capital or myself as we’re always looking to back bullish founders. Can’t leak too much alpha here :)…

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More from @ahboyash

May 25
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They envision a future where all staked $SOL can be used across Solana dApps - solving the liquidity fragmentation problem.

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• Instantly unstake here:
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