As one of the world’s leading cryptocurrency exchange platform, Hotbit strives to provide a positive and benign environment for all of its users. Meanwhile, in order to protect its users’ interests and promote the positive development of the industry, Hotbit will also conduct follow-up observations on all token types listed on its platform. Hotbit will issue warnings to the projects that fail to conduct continuous operations and involve security risks. In extreme cases, Hotbit will hide or delist certain token types or their relevant transaction pairs.
The hidden token types will not be displayed in Hotbit’s token list or the ranking chart regarding the range of increase or decline in token prices. The trading function of the hidden token types will not be affected, but the title of the hidden token types will only be displayed in the trading area when the users actively search for relevant titles of those hidden token types.
Rules and Regulations Regarding the Hiding and Delisting of Certain Token Types and Transaction Pairs
The rules and regulations regarding the hiding and delisting of certain token types and transaction pairs include but are not limited to the rules and regulations listed below. The rules and regulations listed below may not be specific enough to cover all situations. However, Hotbit generally evaluates and assesses the token type(s) of any certain blockchain projects or the necessity of hiding or delisting any projects:
- Rules and Regulations Regarding The Project and Project Team
1.1 The project teams shall inform Hotbit to conduct re-evaluation on their projects in case that any major change(s) occur(s) to the project team, the product and (or) the business model(s) of their projects. Hotbit will delist any projects in case that any change(s) mentioned above occur(s) to the projects without the prior consent of Hotbit, or that the project team(s) transfer(s) the ownership of the project(s) or sell their project(s) to any other party (parties) privately.
1.2 In case that the personal information of the founder(s), co-founder(s) and consultant(s) of the project(s) proved to be fake, or that the founder(s), co-founder(s) and consultant(s) of the project are involved in the manipulation of market price, any major legal issues or negative information (such as drug abuse, theft of data etc.), Hotbit will restart the background investigation on relevant project team members. During the investigation period, the trading function of the token type(s) issued by the project(s) will be suspended. In case that the results of the investigations meet the satisfactory standard, the trading function of certain token types of certain projects will be resumed; otherwise, the token types of certain projects will be delisted.
1.3. The tokens issued by the projects will be delisted if the project(s) itself (themselves) have been reported to be involved in certain activities that are either illegal or are in violation of certain laws, policies, rules and regulations by SEC (The US Securities and Exchanges Commission) or the government authorities and regulatory departments of other countries.
- Rules and Regulations Regarding the Token Types and Their Trading Activities
2.1 The tokens issued by the projects will be delisted if the projects fail to inform Hotbit platform and all users regarding the temporarily excessive issuance or any forking of their tokens 15 days in advance.
2.2 The tokens issued by the projects will be delisted if the average daily trading volume of any single transaction pair of certain token types are lower than 1 BTC for a consecutive 7 days; or that the trading volume of any single transaction pair of certain token types remain 0 within any given 24 hours.
2.3 The tokens issued by the projects will be delisted if the project team(s) intentionally cover(s) up any major issue(s) that may occur and seriously impact the price of their tokens.
2.4 The tokens issued by the projects will be delisted if the official website of the project teams and their foundations have never been disclosed on the internet or any social media accounts, and that the tokens issued by the projects are not processed and used according to their relevant lockup mechanisms and usage.
- Rules and Regulations on The Operation of The Projects
3.1 In case that any significant deviations occur to the exposure of information regarding the projects, or that the projects are involved in any dishonest activities such as cheating on its users and Hotbit platform, the tokens issued by the projects will be delisted.
3.2 The tokens issued by the projects will be delisted if the official website of the project cannot be visited, or that no maintenance is conducted to the projects’ social media accounts and (or) communities for over two weeks.
3.3 The tokens issued by the projects will be delisted if the projects have not registered any mainstream social media accounts such as WeChat, Facebook and Twitter, and that the projects fail to respond to or face negative media reports against them.
3.4 The tokens issued by the projects will be delisted if the project teams haven’t updated any of the latest progresses of their projects on any of their social media accounts or official websites for more than one month (for example: development progress, updates on their versions, any news on their teams etc.)
3.5 The tokens issued by the projects will be delisted if the official promotions or market activities of the project teams caused serious loss to the interests of Hotbit and (or) its communities.
- Rules and Regulations Regarding the Implementation of the Projects
4.1 The tokens issued by the projects will be delisted if the development of the projects are not conducted according to the schedule of their whitepaper, and that no official announcements are made in case of any delays in the progresses of any projects.
4.2 The tokens issued by the projects will be delisted if the source code of the public chain / protocol layer of the projects are not updated for a consecutive three months, or that no updated versions are released for any APP projects for a consecutive three months.
4.3 The tokens issued by the projects will be delisted if the projects are involved in any illegal or criminal activities such as money-laundering, fraud or Ponzi scheme etc.
- Rules and Regulations Regarding Technical Securities
5.1 The tokens issued by the projects will be delisted if certain security risks are involved in the mainnet swap process of the projects, and that the project teams refuse to pay security deposit.
5.2 The tokens issued by the projects will be delisted if certain codes of the smart contracts of the projects involve securities bugs such as overflow etc.
5.3 The tokens issued by the projects will be delisted if the forking problem of 51% attack occur to, or are involved in certain projects.
The Process of Hiding Token Types and Delisting Transaction Pairs
Hotbit may hide certain token types or delist certain transaction pairs without prior notice to its users in certain situations. However, Hotbit will normally inform its users regarding any hiding or delisting of certain token types and transaction pairs in advance. Considering the fact that different token types may involve different levels of security risks, the exact time of hiding or delisting certain token types or projects will be determined by the time published in relevant announcements.
A positive and benign trading environment cannot be established without the support and help of all our users. Hotbit sincerely welcomes all users to actively provide Hotbit team with the latest information of various projects for the support of Hotbit’s project verification processes. It is unavoidable that sometimes, the delisting or hiding of certain token types of projects may cause inconvenience to certain users. Hotbit hereby sincerely apologize for any inconvenience that may involve and thank all users for their understanding.
Hotbit Team
July 3rd, 2020
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