Dear OTCBTC users,
OTCBTC is committed to providing quality, safe and efficient blockchain trading services and supporting all quality blockchain projects.
In order to provide better investment choices for our users and ensure market liquidity, OTCBTC will follow up and review our online cryptocurrency projects from time to time. The cryptocurrency that is not eligible will be removed. After the removal, deposit and trade services will no longer be available. You can still withdraw those tokens.
Our review process includes but is not limited to the following rules:
1. Project Progression Status
1.1 Whether the project progressed in accordance with the white paper and the agreement with the community (for example the project business model is different from the white paper)
1.2 Whether the project technology implementation is completed on time, including the progress of the smart contract and the mainnet online etc (for example the progress is not in line with the timeframe on the white paper or there’s no official response about the delay etc)
1.3 There are security vulnerabilities such as potential overflow issues in the smart contract, security risks on the mainnet, and attack risks.
1.4 Major changes to the project team, product and business model without notifying OTCBTC, or change, transfer, sell the project privately without the consent of OTCBTC.
1.5 The project is notified by the SEC, national/regional judicial authorities, or regulatory authorities for suspected violations of laws and criminal activities.
2. Founding Team Status
2.1 The core team members resigned continuously.
2.2 the core team members have unethical or dishonest behaviors (for example information fraud, suspected market manipulation, community misleading, facing major legal issues or related project profit transfer etc)
2.3 The core team members violate rules and face legal problems (drug, data theft etc) notified by the judicial department or regulatory authorities.
2.4 The core team members are reported for major scandals or negative influences.
3. Community Status
3.1 The project team discloses false information, deceives users and platforms, or deliberately hides major events that may affect cryptocurrency price.
3.2 The project website is offline. The official website, GitHub or social media and community have been unmaintained for more than two weeks.
3.3 There is no project announcement (such as development progress, version updates and team updates etc) from the project team for over a month on social media or official website, without prior notice.
3.4 The project team has negative behaviors such as exaggeration, deceiving, malicious fraud, price manipulation etc, which seriously harm the interests of the community.
3.5 The project team is not on major social media such as WeChat, Facebook and Twitter, and not responding to the negative media reports.
3.6 The project team sells off the tokens in violation of the white paper after going online.
3.7 The project team or the foundation unlock or transfer tokens in violation of the white paper without public disclosure.
4. Operation Status
4.1 The project is unmaintained or the operation team members are not contactable.
4.2 The project’s core business is actually in the form of subcontracting (such as technology development and commercial promotion etc).
4.3 There are major negative news in the project operation (such as profit exchange, major technology or product loopholes etc)
4.4 The project has not been able to complete the progress according to the white paper multiple times (such as delay on mainnet and products etc).
5.1 The daily trading volume is under 5 BTC or zero turnovers within 24 hours for seven consecutive days (Exchange and OTC accumulated).
5.2 The project team cannot cooperate with OTCBTC in time to deal with urgent abnormal fluctuations.
5.3 The project team is not responsive to OTCBTC, or maliciously damages OTCBTC and its community's interests.
5.4 Other major emergency incidents etc.
OTCBTC usually announces the cryptocurrency removal but in some rare cases, we remove the tokens without notifying users in advance. Due to the different security risks that may exist in each token, the actual removal timeframe will be in the announcement. We cannot build a good trading environment without our users’ support and help. You are all welcome to provide the latest news about all projects to assist with the review process.
OTCBTC will continue to work hard to provide you with safer services and smoother trading experience.