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Circle Will Not Accept Any Payment for Cryptocurrency Listing

Circle Will Not Accept Any Payment for Cryptocurrency Listing

Reading Time: 2 minutes by on June 22, 2018 Altcoins, Bitcoin, Blockchain, Business, News, Tech
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Circle Financial has compiled a framework of requirements known as the Circle Assets Framework, for cryptocurrencies and other digital assets desirous of listing on its trading platforms.

Announcing the Circle Assets Framework in a blog post on June 19, 2018, Circle mentioned that the framework contains its general position on the conditions and circumstances surrounding listing of assets, airdrops, forks and swaps, and the process of delisting assets.

Circle Asset Framework lays out their expectations and criteria for listing assets on their platforms such as Circle Invest, Poloniex and Circle Trade.

Clarity at Last

Cryptocurrency companies and other digital asset founders have long complained about a seeming lack of clarity surrounding the process of attaining listing on Circle platforms.

The framework is designed to lay out the relevant terms, conditions, policies, and requirements straightforwardly. In assessing the potential of every individual asset, five scoring categories will be measured which are: Fundamentals, Technology, People, Business Model and Market Dynamics.

Scores assigned to assets in each of these categories are  based on information in the public domain in addition to the information provided on the Circle Asset Listing Form. Final decisions on the listing of assets on the exchange are determined by Circle’s platform priorities and principles which are listed as the security of funds, market neutrality, defaulting to open protocols and empowerment of users with information to enable them engage the market rationally.

The Assets Framework is not intended to serve as a comprehensive catch-all checklist for listing, as each asset will be assessed on an individual basis. The aim according to them is to rank new listings in order or priority based on the investment opportunities presented to trading customers.

Source: Circle Framework

“No Kind of Payment for Listing”

After filling the Asset Listing Form, Circle says, projects that want to be listed are ranked based on the criteria in the framework, and the most promising projects are selected for legal analysis, security review and implementation testing. Once a timetable is agreed, deposits, withdrawals, and trading pairs will be implemented, after which the markets will be opened following a listing announcement. Circle will not accept payment for the token listing.

In case of hard forks, swaps, and airdrops, each asset will be assessed individually with the aim of supporting such activities if they are planned, communicated and documented within a sufficient time window. A five day notice will be provided before a token is potentially listed.

Similarly, in the process of delisting, seven days notice will be given through Circle platforms and emails to provide traders a one-week window to exit their positions before the suspension of trading. Following the closure of delisted markets, users will then have a further fourteen days to withdraw any available funds remaining.

The Circle Asset Framework is the latest in a series of actions by the company aimed at streamlining and simplifying its operations as it expands its services. On May 25, 2018, BTCManager reported Circle’s ‘Buy the Market’ launched with its target being low-end retail investors.

Applications for listing are found here.

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