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Cyber Republic Council Closes Deal with Leading Market Maker Kairon Labs
The Cyber Republic (CR) Council has officially closed a deal onboarding cryptocurrency market maker Kairon Labs to provide support across exchange markets for Elastos and its native token, ELA, as outlined in the terms of recently approved Proposal #80. Originally submitted as Suggestion #159 by ecosystem organization and CR Council member Elation Studios, the proposal was passed emphatically, with 11 of the CR Council’s 12 parties submitting votes in the affirmative. As a leading market maker in the cryptocurrency space, Kairon Labs has been providing market making services since 2017, and has built an industry leading reputation providing tailored algorithms and support to more than 60 clients in various cryptocurrency sectors including DeFi and NFTs across more than 120 exchanges.
Ecosystem Benefits: Market Depth
By onboarding a professional market maker that is already well adapted to a variety of unique market dynamics and digital assets, Elastos stands to provide a far more stable, sustainable, and liquid market for traders and other individuals and organizations seeking to engage the Elastos ecosystem. Kairon Labs will support the Elastos’ presence in public markets by:
- Increasing market liquidity and order book depth
- Reducing price volatility and dramatic price swings
- Facilitating fair price discovery
- Ensuring efficient bid-ask spreads in order books
- Providing orderly entry and exits points for traders
- Reducing slippage
- Accommodating large orders
- Facilitating OTC Trading
“We are excited to announce this partnership with Kairon Labs, the industry leading market maker for cryptocurrencies and utility tokens. We look forward to working closely with their leadership team to benefit the Elastos ecosystem,” said Fakhul Miah, Co-founder of Elation Studios.
Ecosystem Benefits: Network Extension
In addition to stabilizing public markets for ELA, onboarding Kairon Labs opens up a wealth of new networking opportunities in the exchange and investment space. Kairon Labs will be able to add value to the Elastos ecosystem as a networking agent by:
- Exposing Elastos to potential synergies and partners with other blockchain ventures
- Introducing top-tier CEXs (including U.S.-licensed exchanges)
- Introducing VCs and Post-TGE (Token Generation Event) OTC investors
- Offering discounted market making prices for Elastos ecosystem projects
”With the addition of Elastos, Kairon Labs has added tremendous value to its own network. Elastos has continued to grow and evolve since its inception and has shown an obsession with quality. This attention to detail is evident if you’ve ever used the Elastos Essentials application, which is a swiss army knife for anyone looking to interact in the Elastos ecosystem. We look forward to looking after ELA in the markets and helping with the future growth and adoption of the platform” said Jens Willemen, Co-Founder of Kairon Labs.
About Cyber Republic
The Cyber Republic Consensus is the third Elastos consensus mechanism after PoW and DPoS. The purpose of CRC is to provide a consensus-based community governance mechanism that will drive Elastos’ technological and ecosystem development, dispute resolution, and management of community assets, and establish incentives to foster community participation in the governance of and contribution to the Elastos community.
The CR Council can be viewed as the CR community’s top-level governance model, but it is not intended to become a closed off, tightly knit, or compulsory organizational structure for the community; openness, dispersion, and spontaneity are essential characteristics of the community. Rather, its purpose is to guide the process of grassroots growth through the power of democratic decision making, and to provide assistance when necessary.
Additionally, the CR Council is the basic infrastructure for developing the Elastos dApp ecosystem, as it provides a general community governance mechanism, including funding opportunities for truly decentralized applications.
Founded in 2017, Elastos is a decentralized community building the blockchain industry’s most comprehensive and interoperable open source Web3 platform. Using a hybrid consensus that combines the secure hashpower of Bitcoin and the democratic ideals of Delegated-Proof-of-Stake, the SmartWeb ecosystem of Elastos comprises a suite of software for an entirely decentralized internet. Elastos employs not only blockchain technology, but a peer-to-peer network for communication, decentralized data storage services, a decentralized ID (DID) system for all digital assets, the Elastos Smart Chain (ESC)—an EVM-compatible layer 2 chain, and the ability to create smart contracts and unlimited sidechains. Elastos is not only the foundation for securing truly decentralized applications that can scale; it is the foundation for true data ownership.
About Kairon Labs
Kairon Labs is an industry leading cryptocurrency market maker incorporated in Antwerp, Belgium.
Kairon Labs performs liquidity provisioning and algorithmic trading services as a designated market maker for their clients, supporting over 120 exchanges. Kairon Labs supports a wide range of blockchain projects, from top 100 projects listed on major CEXs such as Coinbase and Binance, to smaller projects looking to secure their first listings on DEXs.