As the cryptocurrency industry grows and becomes more popular, big exchanges also need to follow suit to show professionalism, such as the establishment of policy frameworks to evaluate the listing process. List new tokens and delist other tokens…
In Decentralize Finance (DeFi), one of the biggest achievements imaginable for a blockchain startup is getting their coin listed on top crypto exchanges.
In the infancy of cryptocurrencies, verification processes were often opaque leading to the enormous impact of earning a seal of approval from a reputable platform with millions of users worldwide. The world for brand recognition, audience reach, market price and transaction volume is no exaggeration. So having a well-defined set of listing criteria is becoming an industry standard these days. So what are these special criteria that can make exchanges more convenient in deciding to allow a coin to be selected on the exchange? This article will analyze this more clearly.
General review process and steps
Before a coin is listed, it has to go through an extremely rigorous process, including a preliminary review and a full review.
Preliminary Review: considered a quick review, you will be asked for some background information to determine if your coin is eligible to proceed to a full and thorough review. rather than a full review. Once approved, you will receive a notification from the exchange to take the next step.
Full Review: This is a more in-depth review of the coin. Exchanges may request certain documents through this process, which may include an Enforced Non-Disclosure Agreement (“NDA”) and a Listing Agreement. A committee composed of exchange employees will determine if the coin meets their listing criteria and whether it will be listed on the Exchange. As part of this review, exchanges may consult with external advisors.
What does the review require?
The review will not be limited to the guidelines set by each exchange, they will have their own set of evaluations but will have the following important criteria:
• Blockchain has new features
• Improvement over the current blockchain
• Interesting, innovative or unique application
• The application is useful in cases
• The reputation and industry experience of the party registering on the exchange
• Community acceptance
• Identity of organization and the founding team’s info
Most of these criteria revolve around community-oriented factors. If your blockchain has creativity and innovation that brings many benefits to the community, it will be the biggest determining factor for your coin. you will be listed on the exchange.
In addition, there will be other criteria including the core team’s strategic vision to solve some real-world problems, the ability of the community to organize support for project development, supply requirements, etc. and asset demand, as well as technical feasibility and security.
Last but not least, all of the international exchanges want to provide their community with a crystal clear overview of the listing project and the team behind it.
Welups – one of the best coins that meet the listing criteria
It is not simply that Welups is currently being accepted by exchanges for listing. Welups is a project that has been conceived for quite some time to prepare for the best things before market launch such as the development of useful features of the identity blockchain technology that Welups is pursuing.
After completing the core technology, Welups has in turn communicated widely at major blockchain events and received many positives from the community about the usefulness that this identity blockchain technology brings. This effect has brought the image of Welups to the international market and also attracted many users as a premise for this coin before going on the exchange.
Here we will list the main factors that help Welups easily get listed as it is:
• Large number of users
• High trading volume
• Useful products
• Large application ecosystem
• Quality of projects
• The breakthrough of identity blockchain
• Good source code maintenance
As in any area of financial activity, trust and reputation are key assets for successful players. Enforcing strict requirements on candidate assets is a natural mechanism for maintaining an exchange’s reputation, which helps to reduce risk to end-users. Perhaps this is the best way to protect traders and investors in an ecosystem built on irreversible transactions and minimize compensation in the event of a crash.