Token Management Rules of Huobi Futures
To promote the development of the blockchain industry and to protect the rights and interests of investors, Huobi Futures will audit all tokens listed on the platform comprehensively on a regular basis. If a project has any unfavorable factors to investors, the platform will deliver in advance to delist the contract of this token.
The main rules of delisting shall include but not limited to:
1、Project and Team
a) Major changes in the team, products and business mode of the project.
b) Unethical or fraudulent behaviors are detected.
c) The project party is suspected of violating laws and regulations.
2. Technology Security and Smart Contract
a) There is a temporary increase in token issuance or the token is forking without prior notification from the project party.
b) There are security risks when the main network is switching.
c) The code of Smart Contract has security risks such as overflow.
d) The project has problems when forking or has a 51% possibility of being attacked during forking.
e) The development has not been carried out according to the time points in the white paper, and the official website has no announcement to respond to the delay of the progress.
f) The project source code of the public chain/protocol layer (GitHub) has not been updated for three months, and its application product has no update for three months.
3. Trading and Risk Control
a) Average daily trading volume within 7 days is less than 250,000 USD.
b) The token price falls 90% within 7 days.
c) Huobi Global delists the token.
d) The project party deliberately concealed major events that could seriously affect the token price.
e) The project team and its foundation address have never been disclosed on the official website or social media, and the token is not used in accordance with the lock-up mechanism and issuing plans.
f) Other risks of the project identified by Huobi Futures.
a) Significant deviations in information disclosure; deceive investors and trading platforms.
b) Unbale to access its official website and information; social media and communities have not been maintained for a long time.
c) Social media or the official website of the project doesn’t disclose any progress for one month.
d) The project party involves shilling, manipulating token price or other behaviors that seriously harm the interests of the community.
a) No response to community queries.
b) Do not cooperate with the regular inspections of Huobi Futures.
c) Other immoral, fraudulent, or illegal behaviors are detected.
Procedures and notes for token delisting:
If a project has any unfavorable factors for users, Huobi Futures will mark the contract of this token as “ST” based on the above rules. Users should pay attention to the high-risk tokens which are marked as “ST” and control risk in advance.
For tokens marked as “ST”, the platform has the right to cancel the marks or to delist them after a comprehensive evaluation. If the token is to be delisted, the platform will announce it in advance and deliver all open positions of this contract. At that time all open orders of this contract will be canceled and the trading of this contract will be stopped. Since each token has different risks, the final time for delisting shall subject to the latest announcement.
Huobi Futures reserves the final rights of amendments and interpretation.
Thank you for your support to Huobi Futures!
November 25, 2020