To safeguard the best interests of our esteemed users, JOJO engages in the periodic review of each symbol listed on our platform to ascertain its compliance with our stringent quality standards. Suppose a token no longer satisfies the said standards. In that case, our team will proceed to carry out a more comprehensive appraisal of the token, and based on the risk assessment, may ultimately proceed to delist it.
Simultaneously, we understand the importance of timely communication and disseminating pertinent information to our user community. Consequently, when a token is flagged as risky, we shall post a comprehensive risk warning for the token on our social media channels.
JOJO's criteria for delisting tokens include the following:
Significant technical issues
A hard fork of the token
Project suspected of fraud
Project ceased operations
The project does not meet JOJO's listing requirements, etc.
What is delisting?
Delisting refers to the removal of a listed symbol from a particular exchange. It can occur voluntarily or involuntarily and is usually initiated when the listed project has either ceased operations, failed to meet the exchange's listing criteria, undergone a hard fork, or experienced other factors that may pose a risk to users.
It is important to note that various factors may influence an exchange's decision to delist an asset, and this can have significant implications for users who hold the asset in question. Sometimes, delisting may be implemented to mitigate the associated risks. Therefore, users must keep abreast of any announcements or updates regarding their assets on an exchange to ensure they make informed decisions.
What happens during a delisting?
JOJO will execute a delisting when there are issues with the above criteria in the trading pair.
We will issue a notice and send an email regarding the delisting time. We recommend that you close your positions before that.
We will stop updating the mark price and funding rate when the delisting time arrives. While we do not restrict your trading, we will not automatically settle for you.
Your trading history will still be retained after the delisting.
Please note: As for transaction fees, since we do not mandate you to close your positions, the fees charged will remain the same as the taker/maker fees incurred when you close your positions.
Example of Delisting of JOJO (All times in GMT)
October 1, 2022, 12:00 am - Announce
JOJO announces the delisting of BANA-USDC Perpetual Contract.
The final delisting time is set to 8:00 pm on October 1, 2022.
The final settlement price will use the average markPrice within 1 hour from 7:00 pm to 8:00 pm on October 1, 2022.
October 1, 2022, 8:00 pm - Settle
After entering the execution phase, the updating of funding rates will be stopped.
JOJO will switch the mark price of BANA-USDC Perpetual Contract to the oracle price of 8:00 pm on October 1, 2022.
The contract will automatically settle with users based on the the oracle price of 8:00 pm on October 1, 2022.
The front end of JOJO's website is delisting BANA-USDC Perpetual Contract.
Any new user coming to JOJO will receive a notice that the BANA-USDC Perpetual Contract has been deprecated.
Please note: Any delisted trading pair of JOJO will not be re-enabled. It would be best to close all open positions in delisted assets before you stop trading to avoid automatic settlement.
Please be advised that cryptocurrency's market risk and volatility can result in significant price fluctuations. As an investor, you are solely responsible for making informed decisions regarding your investments, and JOJO cannot be held liable for any losses incurred. We recommend that you only invest in areas with which you are familiar and thoroughly understand the associated risks. It is essential to consider your investment experience, financial situation, objectives, and risk tolerance before making any investment decisions in cryptocurrencies. We strongly advise you to consult an independent financial advisor before making investment decisions.