CAD and TransferWise Liquidity Week: 03-10 January 2021
m52go opened this issue · 10 comments
Objectives
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Achieve 0.25 BTC in BTC/CAD daily trading volume during 03-10 January 2021 through a week-long combination of market-making coupled with CAD-specific posts, videos, and social/community efforts to draw attention.
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Bootstrap TransferWise to 0.1 BTC daily trading volume during 03-10 January 2021.
Underlying objective here is to see if we can get outsized benefits from a market-making initiative when coupled with region-specific communication efforts. Something similar was attempted before. This effort is similar, but will attempt to push for bigger results via more organized publicity.
TransferWise is a new payment method with lots of potential, especially in the way it allows to send money to multiple currencies. We need to figure out a way to bootstrap new payment methods, and a liquidity week might be a good way.
Details + How You Can Help
Market Making
Make the market ready and attractive for users to take offers.
- Recruit market-makers to make an attractive offer book for the duration of the week.
- Target 10 bids and 10 asks live in CAD throughout week.
- Target 10 bids and 10 asks live in TransferWise throughout week.
Please add a 👍 below if you can participate! If you don't mind, also drop a comment about how you plan to participate so we have an idea.
Publishing
Reach out to Canadian users with CAD-specific insights and how-tos.
The following are items that should be prepared in the days leading up to 03 January, to be published throughout the first week of January:
- what distinguishes Bisq from other options to buy bitcoin in the CAD region
- how to use Coldcard with Bisq (Coinkite is Canadian company)
- how to use Bisq with Interac (video, maybe quick post too)
- how to use Bisq with TransferWise (how-to, advantages, etc)
Please comment below if you have ideas for more items, and/or if you'd be interested in producing any of them.
Community
Amplify the campaign by making sure everyone hears about it.
Increase splash by collaborating with key community members.
- Post on /r/bitcoinca for the week (mods and users have been very generous to Bisq so far)
- Encourage key 'influencers' in related markets to review Bisq (unsponsored, unfiltered; so far BTCSessions has agreed...he was planning to do one anyway, but getting in touch helped to set a date that coincides well with this initiative)
- Podcast mentions, other mass-media tactic (need to research; ideas welcome)
More suggestions for key community members or outlets we should work with are welcome!
Great initiative! One thing though, I am not certain that Revolut is available in Canada as of yet.
I only quickly searched 'revolut cad' and it seemed to be offered but I didn't investigate.
Revolut offers CAD payments for existing users. I can send and receive $CAD.
However Revolut is not yet available to Canadians. It is coming soon: https://www.revolut.com/en-CA
Great initiative. I'm in CA, happy to help any way I can
Please add a 👍 below if you will participate!
This is a great idea.
I gave it a thumbs up for the idea but I cannot participate.
There are no payment options for me for the CAD market. It is not easy for non residents to access Interac e-Transfer. If anyone knows any options please share.
Just tried experimenting with TW. I can take CAD TW offers but not make them as you need a local CAD bank.
Maybe we could have SWIFT up and online for the 03-10 January 2021.
Interac e-Transfer
Yes I believe virtually all trades in CAD are through Interac...was hoping other methods might be available to diversify and possibly expand interaction with other markets, but it seems that won't be possible just yet.
SWIFT
SWIFT would of course be nice to have as soon as possible, but it might be better to have payment method in the wild for a little while before promoting it hard...in case there are issues, hard promotion could backfire.
Good idea, but how do you plan to avid issues with blocking users Revolut accounts? I saw many posts spread over the internet, that revolut was blocking user accounts after they made several transactions. This was AFAIR related to payment description containing transaction IDs
@LeadManPL yeah I've heard about this a few times too, but Revolut remains heavily used on Bisq. Not sure. Feel free to open an issue or start a chat on Keybase or create topic on the forum if you have any additional information or concerns.
@m52go : I just realised, that thi issue is about using TransferWise not Revolut.
As covered on the Q4 2020 call, this event flopped. Market makers didn't show up, liquidity was thin, and as a result, it didn't make sense to do further promotions.