Ufinex, a renowned cryptocurrency exchange, has instituted a robust Special Treatment (ST) protocol to effectively manage projects that face potential delisting. This mechanism includes a mandatory review period during which the project's status is closely monitored to ensure the integrity and security of the exchange.
Criteria for Special Treatment or Delisting
Ufinex has established clear criteria, termed "Negative Situations," which are used to determine when a project may be designated as a Special Treatment project or face delisting. These criteria encompass a variety of scenarios, including:
- The project's formal request for delisting.
- Prolonged low liquidity of the project's token.
- Identification of security vulnerabilities in the project's technology.
- Ceasing or imminent cessation of the project's operation or business activities.
- Disbandment of the project team.
- Financial difficulties, such as insolvency or bankruptcy, faced by the project.
- Suspected malicious activities associated with the project.
- Legal investigations or convictions involving the project or its team members.
- Market misconduct, such as wash trading or insider trading, associated with the project.
- High-risk assessment by Ufinex's audit, legal, and technical teams.
- Failure to inform Ufinex of material changes within the specified period.
- Any other situations deemed risky by Ufinex.
Important Notifications
- Upon designation as "Special Treatment," a project's ticker symbol will be marked during an observation period, serving as a warning to users and investors of potential delisting.
- If the project fails to meet basic liquidity requirements by the end of the observation period, Ufinex may proceed with delisting. Conversely, improved liquidity may result in the removal of the special designation.
- During the observation period, if the project fails to take necessary actions to address the Negative Situation, Ufinex may decide to delist the project. The exchange reserves the right to immediately delist the project if circumstances warrant.
- Upon delisting, all trading and deposits of the project will be suspended. The project must undergo a new approval and listing procedure to be listed again on Ufinex. Ufinex reserves the right to modify these rules without prior notice.
Conclusion
Ufinex's Special Treatment mechanism is a critical component of its commitment to maintaining a secure and trustworthy trading environment. By closely monitoring projects at risk, Ufinex upholds the integrity of its platform and ensures the safety of its users and investors.
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