Coinone’s New Listing Criteria

Coinone, a prominent South Korean cryptocurrency exchange, recently unveiled a comprehensive set of criteria for evaluating new digital currency projects. On August 8, the exchange took to their blog to outline nine crucial factors that will determine whether a project is worthy of a listing.

The criteria include:

• Sustainability of Business Models: Projects must outline how they plan to stay afloat in this volatile market.
• Transparency of Governance: Clear governance structures are a must; no one wants to throw their money into a black hole!
• Token Distribution Plan: A strategic plan for how tokens will be issued and circulated is essential.
• Vision and Value: Projects need to prove they bring something new to the table.
• Market Size: The potential reach of the project matters—bigger might be better!
• Use Case: Clear functionality of the token should be established.
• Team Formation: Competent teams lead to competent projects. Coinone wants to see the dream team behind the concept.
• Roadmap Achievement Rate: How much progress has the project made on its goals?
• Marketability: Essentially, can it sell?

Focus on the Local Market

Coinone emphasized that any crypto project aiming for listing must have a business model centered around the South Korean market. As the majority of their users are local citizens, aligning with regional interests is key. This means no pie-in-the-sky ideas that only cater to international investors!

The Importance of Governance

Coinone is serious about governance. They will meticulously review the organizational structure of the projects considered for listing, as well as potential risks. The more transparent the governance, the more trust there is—a must in the world of crypto, where trust is often in short supply!

Token Distribution Insights

In their quest for new projects, Coinone will also look closely at a token’s future distribution plan. It’s not just about initial issuance; how tokens circulate in the market afterward is equally crucial. After all, a token that’s locked up is about as useful as a chocolate teapot.

Gradual Service Expansion

Coinone’s recent moves come as they prepare to expand services. On August 7, it was announced that Coinone has partnered with cybersecurity audit company CertiK and disclosure company Xangle to enhance the safety and transparency of their platform. It’s reassuring for potential investors in what can often feel like a precarious digital ecosystem.

Additionally, in April, Coinone revealed plans to launch an exchange in Indonesia. Initially, six cryptocurrencies will be supported, including Bitcoin, Bitcoin Cash, and Ethereum, among others. So, whether you’re in Seoul or Jakarta, it looks like Coinone aims to be your go-to crypto exchange!