Beaxy is founded with the goal to provide traders and investors with an unparalleled user experience buying and selling cryptocurrencies on its platform, Beaxy Exchange. In order to offer an optimal experience we hold ourselves to a high standard that permeates every part of our organization; consequently, we expect projects that we list to uphold a similar standard. In keeping with this foundation we have outlined some basic parameters that all listed projects should stay within to remain in good standing.
Projects that continually operate outside of these parameters will be at risk of being delisted. This process begins by placing the project on a probationary status designated “Under Probationary Review” or “UPR”. Projects placed on UPR will be subject to a mandatory review over a specified period of time, the length of which will be determined on a case by case basis. Beaxy Exchange may designate a project as a UPR project, at risk of being delisted after the observation period, in the case of any of the following scenarios:
- Low liquidity is exhibited over an extended period and no effort is made to work with Beaxy to increase liquidity.
- Information released by the project is inaccurate, false, or intentionally misleading.
- The project’s operations or business activities cease for a period of 14 days or more.
- There is a known or perceived security issue involving the project’s technology.
- The project fails to inform Beaxy of its material change(s).
- During regular compliance assessments the project is deemed uncooperative.
- Development on the project is not being executed according to published timelines or goals whether these are in the form of roadmaps, whitepapers, or on an official website.
- The project is insolvent or a step, order or proceeding for liquidation, bankruptcy, insolvency or similar is taken, made or commenced against or in relation to it or any material part of its assets.
- The project is under investigation for a suspected breach of or is convicted for an actual breach of any applicable laws, statutes and regulations. This also applies to any of its team members including but not limited to founders, consultants, and full- or part-time staff.
- Market misconduct such as wash trading, market manipulation or insider trading is linked either to the project or any of its team members
- Any other scenario Beaxy believes to be an issue for its users, business, or platform.
When a project has been designated UPR this status will be clearly delineated on the Beaxy Exchange ticker. UPR status serves as a warning to both the project and users that future delisting is possible.
Beaxy Exchange may delist a UPR project if said project continues to operate outside the parameters that Beaxy requires. This includes the parameters listed above, but may also include any future requirements that are deemed necessary which may be universal or specific to individual projects. Conversely, if a project is able to begin operating within all parameters by the end of the probationary period, the UPR ticker symbol will be removed and the project will return to good standing.
At any point during the probationary period, Beaxy Exchange may decide to delist a UPR project if the UPR project in question is perceived to be failing to take the necessary steps to re-align itself with the Beaxy Standard. In addition Beaxy Exchange reserves the right, with no prior notice and entirely within its sole judgement, to immediately delist a UPR project if Beaxy Exchange surmises there is just cause or reason to do so.
Should delisting be required, any and all deposits or trades of the project will be immediately suspended. If the project wishes to return to Beaxy Exchange, a new listing process will be necessary starting with filing the appropriate applications. Beaxy Exchange reserves the right to add to or modify these rules and conditions at any time. Any inquires or concerns may be directed to your account manager.