Proposal Discussion: Market-Making Initiative from Kronos Research for PURSE

Kronos, a cryptocurrency market maker, previously collaborated with Function X in 2022 to provide market making service for the FX Token. Building on our successful partnership, we are eager to propose a new collaboration with Pundi X for the market-making of PURSE token.

Overview of the Market Making Plan:

The primary objective of this initiative is to enhance trading liquidity for the PURSE token. Market makers offer buy and sell orders on both sides of the midpoint, facilitating more efficient buying, selling, and trading of the token for users on exchanges, thereby fostering a favorable trading experience.

Thus, Kronos requests to borrow 800 million PURSE tokens from Pundi X to provide liquidity across four exchanges. The duration of the service is one year.
Upon the completion of the service period, Kronos can choose to return the PURSE tokens to the foundation or purchase the tokens according to the following tranches (in stablecoins):
-Tranch 1: 400M PURSE at [BMP] x 1.5
-Tranch 2: 400M PURSE at [BMP] x 2
*BMP: TWAP(time-weighted average price) 30-days commencing on the date of the Market Making Services begin

Kronos Background:
Kronos Research is a proprietary trading firm founded in 2018 that trades on average more than $5b USD per day across global platforms. In DeFi, Kronos Research is a leading designated market-maker on platforms like dYdX, AEVO, and Floor Potocol etc. Kronos Research also incubated WOO Network and Orderly Network.

Our commitment lies in nurturing a cooperative alliance with Pundi X and its community. We are confident that our proposal will make a substantial impact on enhancing liquidity and fostering the growth of the PURSE token ecosystem. Upholding our values of transparency and active community engagement, we eagerly await the community’s feedback and support through the governance voting process.


Hi Pundi X community!

Kronos Research has worked with Function X to do market-making in the past, and I think it’s worth putting PURSE in their trusted hands.

For the past collaboration between Function X and Kronos Research, check out this thread:


We’re thrilled to see this proposal, as it’s poised to significantly boost enthusiasm for PURSE tokens, truly embodying the spirit that a rising tide lifts all boats. This initiative presents a fantastic opportunity, especially for those who favor trading on decentralized exchanges like MarginX, to adopt a more optimistic outlook.

We will support!

MarginX Team


Thank you for the enthusiastic support! We’re excited about the engagement with PURSE community:)


Hi :wave: how will you do that if purse is listed only on bybit, and even bybit is not for all!!??

Hey, thanks for the question.
These tokens will be distributed to us in batches as needed for liquidity provision and we will monitor the market simultaneously in real-time to provide market quotes.