Announcement: Token Listing to Bitkub Online

Modified on Fri, 10 Feb, 2023 at 11:30 AM

With the mission to digitize and create better transaction networks for the world, whether it is for currencies, assets, or anything of value, Bitkub is proud to present its Digital Asset Framework.

The Framework is designed to set the standards for how we evaluate digital assets to be part of our listing and make decisions to keep our customers' best interests in mind. We do not, in any way, endorse assets and we reserve the absolute right to list, not to list, and de-list any asset for trading regardless of how it met the standards specified in this framework. This framework is subject to changes or improvements over time.

There are 3 main criterias we evaluate before approving the listing:

(1) A-Must Criteria
(2) Technical and Operational Feasibility
(3) Committee Scoring

On top of that, after listing, we still conduct an evaluation periodically.

If you are interested in listing your coins/tokens, please feel free to contact us at [email protected].


Bitkub Digital Asset Framework

Bitkub Digital Asset Framework falls under the intellectual property of Bitkub Online Co., Ltd. The framework is not and should not be treated as legal and financial advice. The intention and sole purpose of the framework is to give general information. It should be treated as "as is" without any representation or warranty, whether to express, imply, or statutory. Bitkub reserves the right to update this framework at any time.

 

     1. Bitkub Mission and Values  
Does the asset support an open financial system?
Bitkub goal is not only to bank the unbanked individuals but also to take the next, big step which is to unbank the banked ones by digitizing and creating better transaction networks for the world whether it is for currencies, assets, or anything of value.


     2. Team
2.1 Founders and Leadership 

Capability to convey mission, vision, strategy, and use cases or lead product progress. To demonstrate a solid track record of experience or success.
2.2 Advisors 
It is preferred that advisors are coming from reputable firms or notable projects.
2.3 Business Operations
Demonstrate a high level of efficiency in managing funds and setting a reasonable budget to achieve a project's goals
2.4 Engineers
A good record of engineering setting and achieving goals or deadlines

     3. Technology
3.1 Product

A minimum viable product is necessary.
3.2 Source Code
It is preferred to have an open-source code and well-documented review at Github.

     4. Whitepaper
A necessary report or a guidance that informs readers concisely about the asset’s projects and goals


     5. Legal and Compliance
5.1 Know Your Customer (KYC )

A proper KYC procedure is done during the Initial Coin Offering.
5.2 Compliance Duties
The asset would not affect Bitkub’s compliance with Anti-Money Laundering (AML) Policy.
5.3 Abiding Bitkub User Agreement 
The project, asset, and its application should not violate our User Agreement under Appendix 1: Prohibited Use, Prohibited Businesses, and Conditional Use. 

     6. Road map
A timeline of the stages of the project and its milestones - showing good business logic

     7. Market Circulation
Information about the number and the supply of an asset


     8. Demand
8.1 Investment

The project or asset received investment from notable firms or hedge funds that have experience working in crypto-related projects.
8.2 Demand of Customer 
The demand of the customers is carefully considered.
8.3 Community Activity
It is preferred to have a strong and transparent community established where developers, users, and founders can interact.  

     9. Economic Incentives
9.1  Utility of the Token

The team should clearly define the use case of a token in all of its phases - to obtain, hold, participate, and spend the token.

     10. Token Structure and its Sales
10.1 Equal Participation 

An effort to have a fair distribution of tokens (e.g. setting a purchase limit per user)
10.2 Security 
There is a strong security protocol to limit unauthorized access, scams, theft of funds, and other illegal activities.
10.3 Transparency 
A team that is responsive to feedback or questions about the project’s token sale, and its applications in various forums
10.4 Supply
A fixed percentage of an asset’s total supply should be sold and the proportion sold in relation to the total supply should be fully transparent to everyone in the ecosystem or represents a clear inflation rate.
10.5 Team Ownership
A lock-up period and a vesting schedule are highly preferred to assure that the team will be economically incentivized to improve the network.

The suspension of digital assets' trading and notification to customers in case of asset delisting

After the Listing Committee has the final decision to delist any digital assets, the notification to suspend any trading transaction of such digital assets shall be given and the Customer Support will also send a notification e-mail to the customers who are holding such digital assets to withdraw all the remaining digital assets maintained in their accounts from the company's system within the timeline defined by the Listing Committee.

The customers shall proceed with the withdrawals by themselves via our website. The IT Department will monitor the remaining balance of the digital assets of each customer continuously. Upon the expiry date that the Listing Committee defined, the IT Department will close the withdrawal system from the exchange system immediately, disregard the fact that the customer has fully withdrawn all the remaining digital assets out or not.

However, the company shall hold all of the delisted digital assets for and on behalf of the customer in case there are remaining digital assets in the system; provided that the company may collect the applicable fee for maintaining such digital assets for the customer. In case the customer fails to withdraw the remaining digital assets out of the system before the system closure, please contact Customer Support to request for withdrawals.



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