Delisting Policy

Last update: [13 October 2022]

SCOPE

The principles in this Delisting Policy (the “Policy”) outline the delisting and suspension principles and procedures applied by CoinFLEX with respect to Coins, be they spot or derivatives, listed on its Platform.

 

DEFINITIONS

Capitalized terms used in the Policy shall be interpreted in accordance with the definitions provided below:

Coin or Token: means any digital asset (e.g. bitcoin, ethereum, etc).

Coin issuer: means a company or coin team that issues the Coin.

Delisting: means ceasing to support a particular Coin by CoinFLEX, removing Coin’s trading pairs from the Platform, and/or disabling Coin’s deposit/withdrawal functions.

Platform: means an environment created by CoinFLEX that allows the trading of Cryptocurrencies and their derivatives on CoinFLEX’s official website – www.coinflex.com.

Project: means a blockchain network where the digital asset is used.

Social Media: means CoinFLEX’s official Twitter page available via https://twitter.com/CoinFLEXdotcom or CoinFLEX’s Official Blog available via https://coinflex.com/blog/ and CoinFLEX’s official Telegram group available via https://t.me/coinflex_EN.

Suspend Listing: means temporarily ceasing to support a particular Coin by CoinFLEX, disabling Coin’s deposit/withdrawal functions, and temporarily ceasing Coin’s trading pairs on the Platform.

Terms of Use: means an electronic agreement between the User and CoinFLEX that applies to the User’s use of the Platform, any and all services, products and content provided by CoinFLEX and is available via https://coinflex.com/terms-of-service/.

User: means a person or a legal entity that has an account on the Platform and agrees on CoinFLEX Terms of Use.

 

1. DELISTING PROCEDURE 

1.1 CoinFLEX reserves the right to delist any Coin from the Platform for any reason to the Users that possess such Coins on their Platform Accounts.


1.2 CoinFLEX will inform Users with such Coins on their Platform Accounts about the Coin Delisting by email notification and/or by Social Media post. Users bear the sole responsibility for regularly checking updates on the Coin Delisting.


1.3 CoinFLEX shall follow the next criteria while making a decision to delist the Coin from the Platform (these examples are given by way of example only and not exhaustively):

  • implementation of new regulatory standards and other compliance issues;
  • blockchain or related technology becomes compromised or defective, halting Coin`s network;
  • the Coin is no longer supported by the Coin issuer or others;
  • limited trading volume on the Platform. Permissionless Perps may be delisted if the market becomes too illiquid to function. This could happen if funds for the core AMM are withdrawn after the lock period and insufficient organic liquidity has accumulated. Similarly, if the core AMM goes out of range and not enough organic liquidity has been accumulated;
  • suspicious trading activity;
  • unreliable Coin issuer who ignores listing best practices and acts without good faith;
  • violation of the Terms of Use or any agreement;
  • complaints by Users and traders of the Coin;
  • the Project, team, consultant, or founder has significant legal and negative issues;
  • the Coin Project is suspected to be involved in money laundering, deceiving users, pyramid schemes or any other illegal acts;
  • violation of a third party’s intellectual property rights;
  • detection of other risks related to the Coin listing.


1.4 In case of Delisting, CoinFLEX will deactivate the Coin deposit option on the Platform on the next date after Delisting notification.


1.5 CoinFLEX will deactivate the Coin trading option on the Platform after the period specified in the Delisting notification.


1.6 CoinFLEX shall provide Users with a certain period of time specified in the Delisting notification to withdraw Coins which will be delisted from their Accounts.


1.7 CoinFLEX reserves the right to cease any trading pair without prior notice to the Users and/or Coin issuer.


1.8 In some cases that may potentially bring losses to CoinFLEX and/or CoinFLEX users, or in case of any force majeure, or in the event that CoinFLEX receives an order from a relevant government authority, CoinFLEX is entitled under its sole discretion to Delist any Coin from the Platform immediately.

 

2. COIN LISTING SUSPENSION 

2.1 In some cases that may potentially bring losses to CoinFLEX and/or CoinFLEX users, or in case of any force majeure, CoinFLEX is entitled under its sole discretion to Suspend Listing of any Coin on the Platform immediately.

2.2 CoinFLEX can also follow the criteria specified in Clause 1.3 above while deciding to Suspend Listing of the Coin on the Platform (these are examples given by illustration only and not exhaustively).

2.3 In the cases prescribed by this Section, CoinFLEX reserves the right to Suspend Listing of the Coin for investigation, followed by a possible Delisting.

2.4 In case CoinFLEX can predict the time of Suspended Listing, CoinFLEX will notify Users about it. Users understand that in cases including, but not limited to, force majeure and Coin’s blockchain and/or network problems, CoinFLEX cannot predict the timeline for resolving these issues.

 

3. RESPONSIBILITY

3.1 CoinFLEX shall bear no responsibility for Delisting or Suspending a Coin from the Platform. CoinFLEX shall not be held liable for any damages, loss of profit, loss of revenue, loss of opportunity, loss of data, or indirect or consequential loss.

 

CoinFLEX may, in its sole discretion, amend or change or cancel this Delisting Policy at any time and for any reason without prior notice for users.

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