To protect users’ benefits and ensure the quality of coins/tokens listed, BKEX team conducts comprehensive reviews on our listed coins periodically and adopts corresponding measures including delisting unqualified coins/tokens. In order to improve the public transparency, we will publish the major factors affecting delisted tokens.
The enlisting factors include but are not limited to:
1.Project and team factors
- The project team should inform BKEX to conduct re-examination once there happen important changes in a project team, products or business models. Otherwise, the project will be enlisted by BKEX directly.
- Project team commits immoral or cheating behaviors such as the usage of fake personal information of team founder, co-founders, advisers, etc or being involved in legal problems such as manipulating the market, facing crisis individual legal issues.
- The project team is reported to be suspected of being involved in a violation of the law or regulations by country, regional justice organ, supervision organ, etc.
2.Technology development and main net/smart contract factors
- There exist hidden security threats on the main net.
- There exist security holes such as overflow in the codes of a smart contract.
- There happens or exists a fork problem when 51% is attacked.
- The project doesn’t develop according to the plan listed on white paper nor make an announcement on the official website once process delay occurs.
- The GitHub of public chain/protocol layer has not been updated for a long time. The long-term version of application products is not updated.
3.Community building and operation factors
- Serious mistakes on information disclosure. Cheat investors or trading platforms.
- Does not provide access to the website, provide wrong and confusing information, leave social media and communities unattended.
- Does not public any project progress on social media or the official website (i.e. development progress, version update, etc.)
- The project team is suspected of manipulating the price or other behaviors that are harmful to community interest.
- Project team deliberately conceals significant events that will influence the coin/token price greatly.
- Does not disclose the addresses of project team and foundation on the official website and social media. Does not lock the token according to the lock mechanism. Transfer tokens without disclosing usage status.
- Does not respond or reply to community doubts.
- Does not cooperate with BKEX to proceed regular review.
- Other immoral and cheating/illegal behaviors.
- Operate multiple projects simultaneously, affect the healthy and sustainable development of the blockchain ecosystem.
- Poor liquidity.
- Other factors.
Based on the above criteria, we decides to turn off the trading function and delist FLAG/USDT. The details are as follows:
- Token name: FLAG
- Project name: Flag Network
- Closure time of deposit function: closed
- Closure time of trading function: closed
- Closure time of withdrawal function: 15:00 06/16/2022 (UTC+8)
Remarks: Please complete the withdrawal of the tokens before the withdrawal function of FLAG is turned off. We will not deal with it if overdue.
We will continue to commit to protecting our users and all BKEX stakeholders and will implement regular reviews overall listed tokens.
BKEX highly appreciate your support and will work hard for the transparency, the healthy and sustainable development of digital asset industry.
Thanks for your support！
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