What Happens When a Market Is Delisted

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:

  • Low liquidity

  • 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?

  1. JOJO will execute a delisting when there are issues with the above criteria in the trading pair.

  2. We will issue a notice and send an email regarding the delisting time. We recommend that you close your positions before that.

  3. 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.

  4. 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, 2023, 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, 2023.

  • The final settlement price will use the average markPrice within 1 hour from 7:00 pm to 8:00 pm on October 1, 2023.

October 1, 2023, 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, 2023.

  • The contract will automatically settle with users based on the the oracle price of 8:00 pm on October 1, 2023.

  • 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.

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