Two months ago, Cyber Republic (a community governance mechanism around the Elastos ecosystem) announced a partnership with Kairon Labs as their preferred market maker for its ELA token. Fakhul Miah from Elation Studios originally pursued the proposal to attract more popular exchanges and build the accessibility of ELA. The Elastos/Cyber republic council and community chose Kairon as their market making partner because of its rather personal approach and the ability to offer a wide array of services on top of just the market making.
Elastos has been around for a few years, dating back to 2017. Since then, they have built decentralized technologies on their main blockchain, giving developers easy access to create dapps and other platforms. Cyber Republic is the registered Elastos DAO, in which anyone who is a token holder of Elastos (ELA) is a member of a community where suggestions and ideas are put forward to improve the entire native ecosystem.
Since the proposal to hire a market maker was passed, Kairon Labs has been operating on major exchanges and assisting with the launch of the ERC20 variant of the ELA token on Coinbase. The listing showcased Kairon’s ability to deliver, as trading for a set of other tokens meant to list with ELA didn’t even go live, lacking the liquidity or the order book setup.
Following the launch of ELA (ERC20 token contract) listing on Coinbase, Elastos, Cyber Republic, and Kairon Labs held an AMA on Twitter Spaces to further elaborate on the partnership, explaining how the collaboration came about and what steps have been taken since working together.
Asking why they chose Kairon Labs as their partner, Fakhul Miah stated that the level of collaboration service during the initial discussions and the negotiation phase was better than what other potential partners were offering. “After speaking to several market makers, we realized Kairon Labs’ performance-based operating model made more sense for us. The level of collaboration and service provided by Kairon Labs was just head and shoulders above other competitors. Kairon Labs provides a specialized boutique offering, which was instrumental for the successful launch on Coinbase and other platforms. The Kairon Labs team is always there for us, very responsive and approachable. This close collaboration proves that we made the right decision.”
Matt Engel, BD Lead at Kairon Labs, confirmed and continued by saying that “what makes Kairon Labs different is how we approach our relationship with our clients as we want to make sure that what we tell them is something we can deliver on.”
He also shared why Kairon Labs felt it was vital for them to work with Elastos. “I’ve always had an eye on Elastos. The ecosystem has a lot of staying power, is highly professional, and has extremely sophisticated technology. Being in the industry, I’ve seen the development. We knew this was an undervalued ecosystem and wanted to ensure that we added value to that.”
In case you missed the AMA on Twitter Spaces, check out the recording here to know more about the Elastos ecosystem and how Kairon Labs supports it through market making, consulting, and tokenomics services.