Token Delisting Policy
This document establishes the relationship between the GOKUMARKET management (hereinafter referred to as the Exchange), the developers (organizers, owners) of cryptocurrencies (hereinafter referred to as the Developer) and describes the conditions and the procedure for deleting cryptocurrencies (or tokens, hereinafter referred to as the Coin) from the Exchange.
The Exchange employees expect to receive from the Developers prompt and comprehensive information that is necessary for the uninterrupted and fair use of the Coin in trading operations on the Exchange. If there is no notification of the events listed below, the Coin can be removed from the Exchange.
Coins will be removed from the cryptocurrency exchange in the following cases:
- attacks on blockchain coins
- the website or coin explorer is not accessible
- Network instability for a long period of time
- No trading volumes for more than 30 days
- The developers are suspected of unethical or fraudulent activity
- The Developer stops supporting the Coin
- The Developer’s failure to compensate losses suffered by the users of the Exchange as a result of an attack on the blockchain Coins, or errors in the Coin software
- Violation of a Third Party's Intellectual Property Rights by the Developer.
- Dissolution of project team.
- Due to the strategic adjustment and development needs, the project team takes the initiative to apply for delisting.
- Project teams are suspected of operating the market, or project team faces major legal issues.
- The progress of the project is seriously inconsistent with the plan.
- Serious technical or security problems of the project have not been solved in time.
- The project side changes the key information such as the white paper, contract privately, causing serious consequences.
- There are other major risks in the projects, such as theft of coins by hackers, concealment of additional issuance and so on, which are sufficient to make the projects have risk events.
- The daily transaction volume of token is 0 for a consecutive 3 days.
- Increasing the total available supply of the token or splitting the token without notifying users and the exchange.
- Other circumstances that are sufficient for delisting.
GOKUMARKET reserves the right to include additional conditions for removal/delisting of tokens without any prior notice. The Developers hereby understand and acknowledge that it will be their sole responsibility to check the website for regular update of delisting conditions.
The Developers of a cryptocurrency are obliged to compensate losses incurred by the Exchange due to attacks on the cryptocurrency’s blockchain. The Exchange reserves the right to freeze a cryptocurrency wallet until losses have been fully compensated or to delist a cryptocurrency from the Exchange in the event of refusal to provide compensation. Should the Developers violate any of their obligations, which leads to users making claims against the administration of the Exchange, they are obliged to respond to all claims which the administration of the Exchange has brought to their attention.
GOKUMARKET will issue a delisting announcement for projects that trigger the delisting condition 7 days in advance and remind again before Token deposit, withdrawal and trading are not available. Within 30 days from the date of announcement, users shall transfer the crypto-currencies to their personal digital asset wallets or other trading platform accounts.
Prior to the removal of a Coin from the Exchange, a period of up to 30 days is set during which users can withdraw their assets. For coins with a broken blockchain the same period will be set for an opportunity to exchange the balance for the token of the Exchange.
In the event the Coin is delisted, the listing fee is not refunded to the Developer.