Overview: After a token project gets listed on Coinsuper, we are obligated to hold a neutral and unbiased position to the projects performance, including its popularity and valuation. To stay listed, a company must maintain certain ongoing standards imposed by the exchange. These requirements serve to reassure investors that any company listed is suitably credible firm. The Token Removal Policy was set up to decide when and how to put an end to our relationship with a token and remove them from our exchange.
Token Removal Red Flags: The below red flags are for indicative purpose and Coinsuper reserve the sole and absolute discretion to delist any token on our exchange platform with accordance to the terms and conditions listed out on the listing agreement:
- The token’s listing applicant conducts or is involved in any illegal activity(ies) within any jurisdiction(s);
- The listing applicant’s team is unreachable within a specified period indicated to the listing applicant;
- There is a lack of liquidity in the token’s market over a specified time period;
- No order of the token is filed within a 24-hours’ time frame;
- The token’s listing applicant changes supply of the token or conducts a hard-fork of the token without giving prior notice to and obtaining consent from Coinsuper;
- Market cap of the token drops below USD1,000,000;
- There is no immediate action taken or solution given by the listing applicant in the event of any crisis, as deemed by Coinsuper, that is causing detrimental impact to Coinsuper, including but not limited to, discovery of inaccurate information, technical issues on the token, security problems, etc.;
- The token listing applicant conducts any activity(ies) that damages the reputation of Coinsuper; or
- Other circumstance(s) that, in the opinion of Coinsuper, is/are sufficient for delisting.
Delisting Warning: A warning (verbal or written) would first be given to the token listing applicant if any of the above events took place. A reasonable time period, usually about two weeks, would be given to the token listing applicant to mitigate and/or remedy the problem to the satisfaction of Coinsuper. Failing which, post-listing unit would take actions to delist the token by flagging the token.
Delisting time frame: Marketing Department will issue a delisting announcement to notify users about the delisting timeframe when a token is flagged. If a market or token is flagged by Coinsuper for removal or delisting, the date of removal or delisting generally will be the second Friday after the market or token is flagged, unless otherwise decided by Coinsuper. For example, if a market is flagged for removal on a Tuesday, the market will be removed the second Friday (+ 10 days from flagging). For the avoidance of doubt, if a market or token is flagged on a Friday, it will be removed or delisted after 7 days. The day in question shall be in accordance with Hong Kong time.
Token withdrawal after delisting: After a market or token is removed or delisted, Coinsuper generally seeks to provide users up to 30 days to withdraw any removed or delisted tokens, but in certain instances the withdrawal period may be shortened, subject to the sole and absolute discretion of Coinsuper. Coinsuper will issue reasonable notice on the last day for token withdrawal on its website and application which all users should pay attention to. Users should withdraw any tokens before the posted withdrawal deadline, and they are strongly advised to do so at their earliest convenience (i.e. not shortly before the deadline) in order to avoid unforeseen events that would render the withdrawal period shortened without their prior notice. Coinsuper is not liable to any users’ losses sustained in case of circumstances under which a user for any reason fails to withdraw the delisted tokens before the deadline or fails to withdraw the tokens due to events outside of Coinsuper’s control.