Section I - Objective and Scope
BitMax.io Post Listing Administration Guidelines (“the Post-Listing Guidelines”) are designed and instituted to protect interests of BitMax.io users, and to specify the administration processes and requirements of listed tokens on BitMax.io platform. This Post-Listing Guidelines will be applicable to all clients that have officially partnered with BitMax.io through a Cooperation Agreement, as well as tokens BitMax.io choose to list at own discretion.
(1) Clients: Refers to entities that have already listed or have significant interest in listing a specific digital asset on BitMax.io, including but not limited to juridical person, the team, the natural person of a specific digital asset, and representative who is willing to assume responsibility for one; and,
(2) Tokens: Refers to digital assets listed and traded on BitMax.io trading platform.
Section II – Inquiry and Communications
BitMax.io will conduct inquiries with Clients on project development status, and major events that might significantly affect token prices both on a regular or irregular basis. Communication methods may include, but are not limited to:
(1) Official email provided by Client or disclosed publicly;
(2) telephone number provided by Client or disclosed publicly;
(3) instant messaging methods provided by Client or disclosed publicly, such as Telegram, Wechat, etc.; and,
(4) correspondence sent to a business address provided by Client or disclosed publicly.
Section III –Follow-on Reviews and Evaluations
BitMax.io will carry out follow-on reviews and evaluate the following aspects provided or disclosed by Clients and consult Clients on relevant issues:
(1) The implementation of token vesting schedule of major token holders;
(2) continued safety reviews on codes and smart contracts;
(3) changes associated with key members participating in the token project;
(4) events that might affect token prices, including major partnerships, significant investments, etc.; and,
(5) other circumstances that BitMax.io deems to be necessary for follow-on reviews and evaluations.
Section IV – Risk Disclosure
BitMax.io will conduct risk assessment on a regular basis and whenever applicable, remind Clients of the following scenarios, and suggest appropriate action be taken regarding relevant tokens’ or accounts’ trading, deposit & withdrawal on BitMax.io:
(1) Security/system vulnerabilities such as overflow and over-issuance that may exist in the smart contract codes;
(2) operational and security risk concerns such as theft from an external attack vector, double spend attacks;
(3) token unlocking / vesting that is different from the schedule published in the project’s whitepaper or the schedule communicated to BitMax.io, without appropriate disclosure to BitMax.io and the project’s community;
(4) changes involving project’s codebase or blockchain that might impact the listing, trading, or transfers of the token;
(5) significant security risk and potential user impact during mainnet switch; and,
(6) other scenarios where BitMax.io deems necessary for risk disclosure.
Section V Hiding and Delisting
In the case where multiple attempts of communication and reminder have been made without reaching satisfactory resolution, BitMax.io may take appropriate actions, including but not limited to: hiding or delisting relevant trading pairs, or delisting the token entirely, if one or more of the following scenarios occurs:
(1) Trading pairs of the token fail to meet with lowest liquidity requirements stipulated within the Cooperation Agreement;
(2) the Client or token is in severe violation of applicable legal and/or regulatory requirements, or subject to administrative penalty;
(3) the Client commits serious aspects of fraud, concealment of truth, or fabrication of truth, etc.;
(4) any significant risk disclosure (see Section IV) BitMax.io deems severe and cannot be mitigated properly after evaluation;
(5) breach of conditions and requirements stipulated within Cooperation Agreement; and,
(6) other circumstances that BitMax.io deems necessary for hiding and delisting.
BitMax.io will officially inform client of the decision through email and will later publish the detailed arrangements. Subsequently, relevant tokens will enter the hiding or delisting process. Three business days thereafter, the hiding or delisting will be officially effective.
Hidden tokens will not be shown in the token list. BitMax.io still supports trading of the hidden tokens, however they will only be able to be found by entering the tickers in the search field.
BitMax.io has the right of amendment and final interpretation of this set of rules and guidelines.
Sept 2nd, 2019