Token and Coin Listing Policy
Binapex values clients who provide new coins and tokens for listing. Binapex offers a listing of coins and tokens, which is a simple and transparent process. We strive to present on Binapex all the coins and tokens which our clients want to trade, in terms of ethical, legal and technical restrictions. We actively monitor the status of coins and tokens presented on Binapex markets.
Before submitting a listing request, we recommend that you read this section to see if your coin or token can be listed on Binapex.
Can your coin/token be legally traded on Binapex?
Binapex accepts all applications for coins and tokens listing if they do not violate Binapex regulations, as well as existing ethical, legal and technical restrictions.
Main reasons why coin/token listing can be declined or stopped.
- If a coin or coin’s/token's primary purpose is to provide some sort of share in a common venture for financial gain.
- If protocol or consensus mechanism used by blockchain’s coin/token is not secure.
- If protocol or consensus mechanism used by blockchain’s coin/token is vulnerable to 51% attacks.
Who can apply for listing of a new coin/token?
We need to know who we're dealing with in order to list a coin/token on Binapex. Only verified Binapex users can apply for listing.
How much does the coin / token listing cost?
Binapex charges service fee for listing coin/token. The service fee is $150 and it should be paid before applying for coin/token listing. If after consideration of your listing application Binapex decides to decline your coin/token, the service fee will be fully refunded to the applicant, less possible transaction fees.
How to apply for coin/token listing?
- Make sure your coin/token complies with Binapex listing conditions.
- Sign up on Binapex and verify your account.
- Submit an application for coin/token listing.
- Pay the service fee.
Listing applications are not considered without pre-paid service fee. In case of positive result, you will be notified about the date when a new market for your coin/token will appear on Binapex. We strongly recommend that you check the section “What to do after the coin / token is listed on Binapex?”
In case if your application is declined – the service fee will be fully refunded to you, less possible transaction fees.
What to do after the coin/token is listed on Binapex?
After your coin / token appeared on Binapex, at first you will basically perform the functions of a marketmaker for this coin / token. This is especially important for coins/tokens that are just entering the market or still on ICO stage. What does this actually mean?
- You must support the market for your coin / token, ensuring constant availability of open ask and bid orders for your coins / tokens. Create multiple ask and bid orders with different prices. Users entering your coin / token market should see that there is indeed a demand and supply for your coin/token.
- At least sometimes, make deals on sale and purchase of small amounts of your coin / token, even from yourself. On the one hand, this fixes the rate of your coin / token in the Binapex trading system. On the other hand, those who entered your coin / token market will see constant activity.
- If your coin/token is on the ICO stage, you can:
- transfer all or part of the volume of your coins/tokens to the balance of your Binapex account to be sold during the ICO;
- Depending on the ICO stage, change the purchase and sale price of your coin / token stepwise. In fact, you will conduct an ICO fundraising by selling coins / tokens on Binapex market;
- additional advantage of conducting an ICO on Binapex market is an opportunity for users who have already bought your ICO coins / tokens in the initial stages of ICO to sell them at a higher price in subsequent ICO stages. Thus, the quality of your ICO will increase due to the fact that your investors can fix their profits before the ICO ends!
- Make sure that your coin / token has real transactions during the calendar month and the total turnover of your coin / token on Binapex does not fall below $ 100 per month. Coins/tokens with total turnover below $100 per month may be excluded from the listing.
If your coin/token is listed, you will have the obligation to submit important notices.
You should notify Binapex of the following:
- At least 2 weeks' notice of any significant code or protocol changes for your coin/token, especially hard forks.
- Major issues with your coin/token, including hacks or network problems, as soon as you become aware of them.
- Any issues with deposits or withdrawals of your coin/token from Binapex.
Binapex reserves the right to remove any coin/token listed on its markets for violations of listing terms. This is solely at our discretion.
Is your coin ethical or legal?
We review every coin/token submitted for listing to check if it meets our legal and ethical requirements. We look at who is in the core team and ensure they have a good reputation with no history of unethical dealings. A coin / token concept should have a Web presence and be backed by a community of people, with a clear business model. The terms and conditions of the coin/token should be clearly expressed and transparent, especially for utility tokens supporting ICO ecosystems.
Be aware of our delisting policy and your ongoing obligations.
Before you list, be aware of your obligations to us to help maintain your listing.
Reasons a coin/token may be eligible for delisting include, but are not limited to:
- Any network issues or vulnerabilities of coin/token that could be exploited. Examples include:
- Low hash-rate;
- Out of date code base or wallet stability issues;
- Frequent issues with deposits or withdrawals (outside Binapex control).
- Insufficient nodes to keep the wallet synced and network propagating transactions.
- Coins, which violate our terms and conditions, policies, or an applicable law.
- For already listed coins/tokens – long-term absence of significant trade operations with a coin / token. Under this definition fall coins/tokens with total turnover less than $100 per one calendar month.
- Coins/tokens without a working, reliable block explorer.
- Coins/tokens that fail to provide notification of mandatory updates.
At our discretion, Binapex may issue a warning for breaches of our listing terms and conditions and provide the coin/token team an opportunity to rectify any issue(s). Binapex is uninterested in delisting of best-selling coins / tokens. Delisting is an extreme measure when there is no other way to rectify the violation of Binapex listing caused by coin/token.
In case of token/coin delisting, Binapex:
- Posts 30-days public notice on Binapex about upcoming coin/token delisting.
- 30 days prior to delisting posts user notification on the coin/token market to be delisted.
- Sends email notifications about the upcoming delisting to all affected Binapex users.
- Will not refund the service fee.
Coins issued with a delist notice will have their markets closed and there will be a 30-day notice and withdrawal period before the listing is removed. This information will be published on our coin/token info, delisting, and market pages and we will endeavor to email all affected Binapex users.