Last update: 31 July, 2023
The principles outlined in Listing/Delisting Policy (the “Policy”) build a framework of coin/token listing/delisting and listing suspension principles and procedures applied by CEX OVRS LLC (St. Kitts and Nevis) (the “CEX.IO”) according to the User’s jurisdiction.
The objective of the Policy is to ensure that CEX.IO protects its business and Users by listing only legitimate coins/ tokens and provide the User with clear and transparent delisting procedure.
Future listings/delistings or listing suspension of coins/tokens on the Platform will be based on the guidelines set out in the Policy. CEX.IO will consider how each prospective coin/token that wishes to be listed or should be delisted or listing suspended on the Platform for prescribed reasons complies with the principles below.
To avoid doubts, words “coin” and “token” used in this Policy interchangeably.
Capitalized terms used in the Policy shall be interpreted in accordance with the definitions provided below:
Coin: means a peer-to-peer decentralized digital representation of value (e.g. bitcoin, ethereum, etc) including tokens.
Coin issuer: means a company or coin team that issues the Coin.
Committee: means a CEX.IO’s committee of senior management, and other employees whose presence is deemed necessary by the senior management team.
Delisting: means ceasing to support a particular Coin by CEX.IO, disabling a Coin’s deposit/withdrawal functions and removing Coin’s trading pairs from the Platform.
Platform: means an environment created by CEX.IO that allows to trade Cryptocurrencies on CEX.IO’s official website - https://cex.io/.
Project: means a blockchain network where the digital asset is used.
Social Media: means CEX.IO’s official Twitter page available via https://twitter.com/cex_io, CEX.IO’s official Facebook page available via https://www.facebook.com/CEX.IO, CEX.IO’s Official Blog available via https://blog.cex.io/ and CEX.IO’s official Telegram group available via https://t.me/CEX_IO.
Suspended Listing: means temporarily ceasing to support a particular Coin by CEX.IO, disabling a Coin’s deposit/withdrawal functions, and temporarily ceasing a Coin’s trading pairs on the Platform.
1. COIN LISTING PROCEDURE
1.1 The listing procedure can be initiated by CEX.IO or by the Coin issuer itself.
1.2 If a listing procedure is initiated by CEX.IO, then it conducts a general internal audit for listing on the Platform.
1.3 To initiate a listing procedure the Coin issuer can make a listing application request via https://forms.gle/Esw1GzKD9BfTpg4B9.
1.4 The Committee examines all aforementioned requests on a first-come-first-served basis.
1.5 The Committee initiates an internal due diligence of the Coin’s documents received. As soon as due diligence is completed the Committee can approve or reject the listing of the Coin on the Platform.
1.6 The Committee reserves the right to reject the Coin listing without any reason.
1.7 CEX.IO ensures the Coin issuer’s opportunity to reapply if the key reason for Coin listing rejection indicated in CEX.IO’s official listing rejection will be eliminated.
1.8 In case the Committee approves listing of the Coin, then CEX.IO has a right, but not an obligation to inform Users about this Coin by means of email notification or Social media post.
2. EVALUATION CRITERIA
2.1 The foundation of the Listing Procedure is built on criteria mentioned in articles 3 – 9 of the Policy evaluating which CEX.IO will decide on the possibility and expediency of listing of the Coin.
2.2 These criteria should be assessed by the Committee.
2.3 Not all criteria are strictly required to be met but serve as an orientation to determine the listing decision. The leading principle is users focus, enabling users the most user-friendly experience and easy access to Coins that are supported by projects.
3. COIN GENERAL INFORMATION
3.1 The Coin impact
How the Coin influences the development of the domain industry and technology overall.
Technology the Coin uses is innovative and unique.
Whitepaper has detailed explanation of the problems it aims to solve and the original ideas behind their solving mechanism, along with the clear description of their Project.
The Project should have a clearly described roadmap, which they follow in accordance with the timeframes.
3.5 Coin’s business model acceptance
Whether the Coin is suitable for CEX.IO's current business model.
4.1 Founders and staff
Founders should be experts in the domain area of the Project. Staff should consist of a sufficient number of employees working on the Project development.
The presence of a solid background in business management and a clear vision of strategy is important.
4.3 Project Location
The Coin has a geographic location and the possibility of communication with the developer community.
5. TECHNICAL ASPECTS
5.1 Source code
The code is accessible, well-tested, easy to understand and maintainable.
5.2 Developer community
The code is developed and maintained on a regular basis. Active and responsive developer community.
Vulnerabilities, bugs are regularly fixed. The code doesn't allow any assets losses and ensures funds integrity.
5.4 Prototype availability
The Project is available for implementation via testnet or mainnet.
6. LEGAL AND COMPLIANCE STANDING
6.1 Legislative framework
The Coin does not fall under the definition of a security in any jurisdiction and does not violate any laws by its nature.
The Coin issuer conducts an audit on an ongoing basis by professional auditors.
6.3 Compliance framework
The Coin will not interrupt CEX.IO’s ability to meet Anti-Money-Laundering (AML) and Know-Your-Customer (KYC) compliance obligations and any other obligations under government licenses in any jurisdiction. Also, the Coin issuer conducted AML and KYC procedures within the Initial Coin Offering (ICO) process if any.
7. MARKET DYNAMICS
7.1 Market capitalization
The Сoin takes a wide part of global market capitalization.
7.2 Trading volume
The amount of Сoins used in the turnover and the frequency they are exchanged are taken into account.
The Сoin is listed on the number of exchanges with a wide diversity of trading pairs.
8.1 Project social activity
The Coin issuer actively communicates with its customers in various channels, including email, social media, and support requests and provides timely answers to questions of the community.
8.2 The Coin provision
There is a possibility of distribution of some amount of Coins within Users on the Platform.
8.3 Joint marketing
The Coin issuer is interested in common promotion and PR events and creating a new Project jointly with CEX.IO.
9. COMMUNITY DEMAND
9.1 Community activity
The Project has several social media channels with a number of followers who actively respond to the regular Project's news and updates. The Internet community provides positive comments and feedback on the Project.
9.2 Investors interest
The Project benefits from the interest of various stakeholders, including private investors, venture firms or hedge funds, preferably those who have experience in the industry of financial innovations.
10.1 CEX.IO reserves the right to delist any Coin from the Platform for any reason with thirty (30) days prior notification to the Users that possess such Coins on their Platform Accounts.
10.2 CEX.IO will inform Users that have such Coins on their Platform Accounts about the Coin Delisting by means of knowledgebase announcement, email notification and/or by Social Media post. Users bear the sole responsibility for regularly checking updates on the Coin Delisting.
10.3 CEX.IO shall follow next criteria while taking a decision to delist the Coin from the Platform (these examples are given by way of example only and not exhaustively):
- implementation of new regulatory standards and other compliance issues;
- blockchain or related technology becomes compromised or defective, halting Coin`s network;
- the Coin no longer supported by the Coin issuer or others;
- limited trading volume on the Platform or potentially suspicious trading activity;
- unreliable Coin issuer who ignores listing good practice and act without good faith;
- major changes in the Coin`s team, product, or business model without notifying CEX.IO in advance for auditing;
- complaints by Users and traders of the Coin;
- transferring or selling the Coin`s project;
- the project, team, consultant, or founder has significant legal and negative issues;
- the Coin project development is not carried out in accordance with the timeline of the roadmap planned in the White Paper. Progress delays without explanation or announcement;
- the Coin project is suspected to be involved in money laundering, deceiving, pyramid schemes or any other illegal acts;
- violation of a third party’s intellectual property rights;
- detection of other risks related to the Coin listing.
10.4 In case of Delisting CEX.IO will deactivate the Coin deposit option on the Platform on the next date after Delisting notification.
10.5 CEX.IO will deactivate the Coin trading option on the Platform after expiration of thirty (30) days period since Delisting notification or more quickly in the case of legal or regulatory action.
10.6 CEX.IO shall provide Users with a thirty (30) days term after Delisting notification to withdraw Coins which will be delisted from their Accounts.
10.8 The thirty (30) days term for withdrawal will not be available in case of a force-major, namely an event beyond CEX.IO control, including, but not limited to the Coin's non-working blockchain or wallet, due to which CEX.IO will be unable to conduct any transactions.
10.9 CEX.IO reserves the right to cease any trading pair without prior notice to the Users and/or Coin issuer.
10.10 In some cases that may potentially bring losses to CEX.IO and/or CEX.IO users, or in case of any force major, or in the event that CEX.IO receives an order from a relevant government authority and/or Coin delisting is part of a legal or regulatory action CEX.IO is entitled under its sole discretion to Delist any Coin from the Platform immediately.
11. COIN LISTING SUSPENSION
11.1 In some cases that may potentially bring losses to CEX.IO and/or CEX.IO users, or in case of any force major CEX.IO is entitled under its sole discretion to Suspend Listing of any Coin on the Platform immediately following notification to Users.
11.2 CEX.IO can also follow the criteria specified in Clause 10.3 above while taking a decision to Suspend Listing of the Coin on the Platform (these examples are given by way of example only and not exhaustively).
11.3 In the cases prescribed by this Section CEX.IO reserves the right to Suspend Listing of the Coin for investigation with the following possible Delisting.
11.4 CEX.IO can provide Users with a thirty (30) day term to withdraw Coins which will be suspended from their Accounts if it is possible.
11.5 The thirty (30) days term for withdrawal will not be available in case of a force major, namely an event beyond CEX.IO control, including, but not limited to the Coin's non-working blockchain or wallet, due to which CEX.IO will be unable to conduct any transactions.
11.6 In case CEX.IO can predict the time of Suspended Listing CEX.IO will notify Users about it. Users understand that in cases including, but not limited to force major and Coin’s blockchain and/or network problems CEX.IO is not able to predict the timeline for resolving these issues.
12.1 CEX.IO shall bear no responsibility for Delisting or Suspend Listing Coin from the Platform. CEX.IO shall not be held liable for any damages, loss of profit, loss of revenue, loss of opportunity, loss of data, or indirect or consequential loss.
CEX.IO may in its sole discretion amend or change or cancel this Listing/Delisting Policy at any time and for any reason without prior notice for users.