Coinone, South Korea’s third-largest crypto exchange has released criteria for crypto listing on the requirements for new digital currency projects on the exchange.
The exchange will take into account issues such as “sustainability of business models, transparency of governance, token distribution plan, vision and value, market size, use case, team formation, roadmap achievement rate, and marketability.”
South Korean market
Coinone focuses on having a South Korean based market business plan as the majority of its users are local citizens. The exchange mentions of thoroughly examining the governance structure of the listed crypto projects and the risks associated with it.
On the other hand, Coinone says that “it considers a token’s future distribution plan, in addition to the project’s token issuance and circulation.” A clear idea needs to be conveyed by crypto projects on what they can offer in comparison to the products they are replacing.
The exchange gave a clear idea of why delisting would be followed:-
include market manipulation, lack of transparency, disorderly trading and criminal activity. The exchange will also hold projects accountable for technical deficiencies, such as blockchain failures and insufficient product development, and will be on the lookout for the lack of continuity, especially when it comes to the makeup of the management team. CoinDesk Report
A warning would be given first if no improvement follows, delisting will begin.
“Since CoinOne generates revenue only from the fees incurred from transactions, we intend to list projects that can naturally generate trading volume as the project grows”. Coinone
In Aug 8th the exchange announced a partnership with cybersecurity audit company CertiK and with Xangle a Seol-based disclosure company to provide the maximum transparency and security for its crypto investors.
Coinone has received Information Security Management System Certification, one of the few in South Korea. The certification is related to the management of handling sensitive data.