General

The principles outlined in this policy will build a framework of token listing principles applied by CryptoSouk (the “Company”). The objective of this policy is to ensure that the Company protects its business and customers by only listing legitimate tokens on the Company’s exchange (the “Exchange”).

Future listings and delistings of tokens on the Exchange will be based on the guidelines set out in this policy. The Company will consider how each prospective token that wishes to be listed on the Exchange complies with the principles below.

Guidelines

Product quality evaluation

  • Open-source code - a detailed review by parties not related to the initial development team
  • Prototype - the presence of a well-functioning alpha or beta product.
  • Security - a demonstrated chain of improvements in the code after each disclosure of vulnerability, conducting bug bounty campaign and security audits by independent companies.

Founders and Leadership

  • Leaders - have a solid background in business management and a clear vision of strategy.
  • Team - the evaluation of the engineering team’s ability to set and achieve deadlines.
  • Operations - the evaluation of proper budget allocation, fund management, keeping up with the key deadlines.

Scalability

  • Roadmap - a clear itinerary showing all key development stages
  • Practical Applications - the future use of the product is clearly explained.
  • Type of Blockchain - the product can be seen as a separate blockchain with a new architecture or it is built on the basis of an existing blockchain and leads to synergies and network effects.

Regulation

  • Legislative Framework - the asset cannot be classified as a security under any legal framework.

Reputation

  • User Agreement - the project does not violate any laws in terms of its application and fundamental nature.

Market Supply

  • Global Market Capitalisation - the market capitalisation of the company compared to market capitalisation of peers on the market
  • Asset Velocity - the measurement of how easily the asset can be converted into another asset.
  • Circulation - consensus protocols are needed to create a new supply of service of work tokens. When the supply reaches its peak amount, the public should have access to a considerable amount of total tokens.

Demand

  • Customer Demand - the product is tailored to fully meet customer demands and expectations, support is provided to customers who submit requests
  • Developers and Contributors - a growing number of developers and contributors alongside the increase in the scale of the project
  • Community Activity - the team actively communicates with customers in various channels, including email and social media, provides regular updates on developments, provides timely answers to questions of the community.
  • External Stakeholders - the project benefits from the support of various stakeholders, including private investors, venture firms or hedge funds, preferably those who have experience in the industry of financial innovations.
  • Market Capitalisation - the market capitalisation has increased after the launch of the project thanks to the demonstrated interest in the project.
  • Transactions, Fees & Addresses - an increase in the number of transactions and volume of fees over time, rising demand for tokens and a growing number of token holders.

Crypto Economics

  • Type of Token - the token is protected from scammers, hacker attacks, theft of funds thanks to strict security measures taken by the company.
  • Participation Equality - the team contributes to a fair distribution of tokens and limits the individual purchase cap to ensure a limited number of investors does not possess the majority of supply.
  • Team Ownership - the team holds a minority stake. A lock-up period and an appropriate vesting schedule are introduced to boost the team’s interest in improving the network.
  • Transparency - the team is well familiar with the product, token sale, fund management and can answer all the related questions upon request in various communications channels.
  • Total Supply - only a fixed percentage of the total supply should be sold. When a client purchases a token, they should know what percentage of the total supply of tokens this purchase represents.
  • Ethics or Code of Conduct - ethical standards the company adheres to should be included in the white paper or the project website.

Token listing procedures:

  • A committee of experts gathers to discuss the potential listing under the above guidelines established by the Company.
  • After a decision is taken to launch the listing process, the Company’s users and team members are immediately informed about this decision.
  • Engineering, operations and customer services teams will together calculate the cost of integrating the particular token within the Exchange.
  • The development team deals with engineering issues regarding the listing, and if it finds a major bug in the integration, the listing decision can be abolished.
  • Once integration is ready, we will inform the public of funding & withdrawals limits in respect of a particular token.
  • The public is subsequently informed of the date and time that the newly listed token will begin trading on the Exchange.

Delisting and delisting procedures:

The Company may decide to remove its token from the Exchange for specific reasons. The Company reserves the right to remove any token from the Exchange for any reason and with 30 days’ notice to its users.

The Company shall review the following factors while making a decision to delist a token or remove it from the Exchange:

  • Evolving regulatory standards and other compliance issues;
  • Poor implementation of use cases or poor reception by the community;
  • Blockchain or related technology becomes compromised or defective;
  • Token no longer supported by token team or others;
  • Limited trading volume on the Exchange or potentially suspicious trading activity;
  • Experience with token applicant/team and their responsiveness to information requests;
  • Violation of the Company’s terms of service or token listing agreement; and
  • Complaints by users or traders of the token.

The Company will inform the community and investors about all coin removals on the Company’s blog, Twitter profile and on its official site. Users bear the sole responsibility for regularly checking updates on the delisting of coins.

The Company will provide a 30-day notification before the removal of a coin. All coins shall be removed from customer accounts within the 30-day period. Once the Company closes the wallet related to the delisted coin, withdrawals will not be possible under any circumstances. In case of the occurrence of problems due to a non-working blockchain or wallet, due to which we will be unable to conduct transactions, the Company will have to close the wallet. We will take all steps possible to make sure this does not happen but sometimes this is unavoidable, unfortunately.

Once a coin/token is approved for delisting, the public and the Company’s team will be informed of such decision simultaneously. A schedule for halting trading, funding and withdrawals on the coin/token will be published.

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