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An announcement of rules governing suspension, concealment and delisting of trading pairs, and transactions

Dear BitMart Users,

 

As one of the critical components of the blockchain technology ecosystem, security has always been the top priority of BitMart. And providing high-quality digital assets is the premise for BitMart to guarantee excellent user experience. Therefore, BitMart will continuously observe the safety and quality of the project even after the project is put on the shelves. It will carry out different operations such as warning, concealing trading pairs, suspending trading or delisting trading pairs, depending on the potential safety risks.

BitMart's security inspection of the project includes but is not limited to: 

  1. Security Problems:
  • Security flaws in smart contract code, e.g., overflow;
  • Inconsistency between whitepaper semantics and smart contract realization; 
  • Lack of computing capability or occurrence of a 51% attack and fork attack;  
  • Potential security risk during Mainnet Swap;
  1. Project and Team:
  • The dramatic changes in project positioning, products, business policies, business scope, business model or the key team members, etc. and failure in informing BitMart 15 days in advance and success in passing the review process with changed project information. Transferring or selling information privately;
  • The documents or materials provided by the team (including financial information, business status or materials of core members, etc.) are falsified, concealed, omitted or misleading;
  • Any litigation, arbitration or significant administrative penalty or other significant negative news involving the project or core team members; 
  • Significant lags occur in project promotion and development roadmap. Severe inconsistency from what is stated in the whitepaper or other official channels;
  1. Token and Trade:
  • The distribution plan, functions, and purposes of tokens are inconsistent with the official disclosure, and the project party has no formal explanation; 
  • Continuous stagnant token market due to the major events triggered by the project’s concealed information that may affect its payment capacity and the value of its underlying currency;
  • Arbitrarily issue token additionally, fork token, extend or shorten a regular interval without informing BitMart within a valid timeframe and seeking approval from users;
  • The token has limited trading volume on the exchange or potentially suspicious trading activities with less than 2 BTC daily trading volume or 15 BTC buy-side support.
  1. Operation and Marketing
  • The website cannot be accessed. Unmanaged official social media outlets (Telegram, Twitter, Facebook, etc.) and other online group channels;
  • Lack of awareness and ability to deal with negative information and public relations;
  • Major inconsistency in the key information disclosed including falsification, concealment, major omission and misleading information.
  • Publish any BitMart related information or information that severely violates the interest of BitMart without legal procedure or BitMart written agreement.

We encourage BitMart users to provide more information about different projects to help us in building a better trading environment and experience. BitMart will issue announcements in advance as for the projects we decide to conceal, suspend or delist. However, it is possible that BitMart cannot inform you in advance or in time due to some emergency situations. We are sorry for the inconvenience this may bring to you. Thank you for your support of BitMart.

*The rules of removing trading pairs: The concealed trading pairs will not be displayed in the cryptocurrency list. The token name needs to be actively searched by the user to be displayed in the currency transaction area.

 

Best,

 

BitMart Team

January 7th, 2019

 

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