To foster the sustainable growth of the blockchain industry, ensure a safe and transparent digital asset trading environment, safeguard users' rights, and standardize token management on the platform, the BingX team has established these "BingX Token Management Rules" (hereinafter referred to as the "Rules").
Section One: General Provisions
Article 1: Definitions
Unless otherwise specified, the following terms in the Rules shall have the meanings outlined below:
(1) BingX: Refers to the BingX digital asset trading platform.
(2) Project Team: Refers to the entity responsible for issuing or operating a token, including companies, teams, individuals, or actual controllers that list tokens for trading on BingX.
In the absence of a centralized project team, it also includes representatives willing to take responsibility for a decentralized token project's community.
(3) Token: Refers to the cryptographic digital proof of equity circulated and traded on the BingX platform, also known as "Token" or "Project".
(4) ST Warning: "ST" stands for "Special Treatment". Trading pairs flagged with an "ST" label carry certain trading risks.
Section Two: Information Disclosure
Article 2: Disclosure Obligations
The project team is required to promptly and truthfully disclose all information that could significantly impact the token. All disclosed information should be accurate, complete, and must not contain information that is false, misleading, incomplete, etc.
Article 3: Methods of Information Disclosure
From the date these rules are implemented, the project team must disclose regular and timely information on their official website. The disclosed information should include, but is not limited to, updates on technical code progress, market activities, institutional investments, community development, and more.
Article 4: Ad Hoc Disclosure
Ad hoc disclosure refers to additional information that the project team must disclose in the event of special circumstances. The project team must disclose relevant information within 24 hours of such events and provide a written report to the BingX platform.
Special circumstances include, but are not limited to, changes in or loss of contact with core team members, major technical incidents, changes in product or technical direction, significant legal risks involving the core team, major negative news or public opinion, factors causing significant fluctuations in token prices (including the unlocking or buyback of locked tokens), and more. The ad hoc disclosure should include, but is not limited to, the cause of the event, the process, key facts, and the outcome.
Article 5: Exceptions to Information Disclosure
If the information the project team needs to disclose involves state secrets or conflicts with public interests, they may withhold disclosure with BingX's approval.
Section Three: Inquiries and Investigations
Article 6: Inquiries and Responses
BingX has the right to periodically inquire the project team. The project team must respond promptly and provide a reply within 24 hours of receiving the inquiry.
Article 7: Methods of Inquiry
BingX may make inquiries to the project team through the following channels:
(1) The official email provided by the project team;
(2) The contact number provided by the project team;
(3) The instant messaging account (such as Telegram) provided by the project team.
Article 8: Inquiry Content
The content of inquiries may include, but is not limited to: the fulfillment of commitments made in the whitepaper or on the official website, the roles and token holdings of core team members, the progress of the product and technology, and factors that could lead to significant token price fluctuations (including the unlocking and buyback of locked tokens).
Article 9: Handling of Inquiry Results
BingX will determine if any rules were violated based on the project team’s level of cooperation, the detail in their response, and the actual information provided. If a violation is found, BingX may take appropriate action as outlined in Section Four of the Rules. The results will be communicated through the methods specified in Article 7 or announced on the BingX platform.
Article 10: Routine Review
BingX has the right to conduct regular or periodical reviews of the project team. These review may include, but is not limited to:
(1) Key commitments made in the whitepaper;
(2) Security checks on the technical code;
(3) Changes in holdings by the project team or major token holders, and the fulfillment of locked token commitments or other factors that could impact token prices;
(4) Changes in core team members;
(5) Any other matters BingX deems necessary to review.
Article 11: Special Investigation
BingX may initiate a special investigation in the following circumstances:
(1) User reports or media disclosures indicate issues described in Article 10, and the project team hasn’t provided a clear or effective response;
(2) Significant risks are found during routine reviews;
(3) Other circumstances where BingX determines that a special review is necessary.
Article 12: On-Site Investigation
BingX may conduct regular or ad-hoc on-site investigations of the project team as required. The project team is expected to cooperate fully with these investigations. The investigation may include: the fulfillment of commitments made in the whitepaper or on the official website, the roles and token holdings of core team members, the progress of the product and technology, and factors that could lead to significant token price fluctuations (including the unlocking and buyback of locked tokens). If the project team refuses, deliberately obstructs, or otherwise fails to cooperate with BingX’s investigation, BingX will take appropriate action in accordance with relevant rules.
Article 13: Project Team Cooperation Obligations
The project team must actively cooperate with BingX’s regular and special reviews. Additionally, they should promptly address user reports, media inquiries, and risk warnings from regulatory authorities, taking corrective action if needed. If the project team doesn't cooperate, BingX may take action according to the Rules, and the results will be communicated through the methods outlined in Article 7 or announced on the BingX platform.
Section Four: Handling of Violations
Article 14: "ST" Handling Process
BingX has the right to apply an "ST" warning to a token based on the severity of the violation and flag the relevant trading pair with "ST" label to alert users to potential trading risks.
1. "ST" Trigger Conditions
BingX will initiate the "ST" flagging process if a project or project team shows any of the following conditions during the evaluation period:
(1) A project is considered to have poor liquidity if any of the following occurs for 30 consecutive days.
For projects listed on BingX for less than 30 days, the conditions are:
a. Average daily trading volume is below 10,000 USDT;
b. Average daily 2% depth is below 5,000 USDT;
c. Average daily bid-ask spread exceeds 0.5%;
d. Average daily price on BingX differs from other CEX prices by more than 15%;
e. Lowest filled price is lower than the opening price.
For projects listed on BingX for more than 30 days, the conditions are:
a. Average daily trading volume is below 5,000 USDT;
b. Average daily 2% depth is below 3,000 USDT;
c. Average daily bid-ask spread exceeds 1%;
d. Average daily price on BingX differs from other CEX prices by more than 15%.
(2) In emergency situations, a project is considered non-compliant if any of the following occurs for 8 consecutive days:
a. Average daily trading volume is below 1,000 USDT;
b. Average daily 2% depth is below 300 USDT;
c. Average daily bid-ask spread exceeds 1%;
d. Average price difference per minute between BingX and other CEX exceeds 15%.
(3) The project team fails to update or disclose project information, including but not limited to: updates on official website, whitepaper, and the ad hoc disclosures mentioned in Article 4.
(4) BingX determines that the project should be flagged as "ST" based on findings from inquiries, routine reviews, special investigations, on-site investigations, or other assessments.
(5) Other circumstances that BingX deems as serious violations.
2. "ST" Removal
The "ST" label will be removed if the project’s token meets all the listed conditions under normal conditions for 8 consecutive days.
3. "ST" Rights and Procedures
BingX reserves the right to flag the project's token as "ST" in emergency situations, beyond the specified requirements and procedures. Typically, this action will be announced in advance and carried out according to the timeline in the announcement.
Article 15: Handling of Hidden Trading Pairs, Trading Suspension and Token Delisting
BingX reserves the right to hide trading pairs or suspend trading for tokens in the following circumstances:
(1) Any core member of the project team is found to be involved in significant fraud or deceit, including but not limited to misusing raised tokens, the project development team gone missing, ceasing support for the project's technology, deliberately concealing important project facts, or disclosing or fabricating fraudulent, false, or misleading information.
(2) The project development team dissolves without community consent, or core team members resign, making further development impossible.
(3) A project is considered to have poor liquidity if any of the following occurs during the evaluation period:
The project’s liquidity or trading volume is extremely poor, triggering the delisting process if any of the following conditions are met:
a) Daily trading volume is below 500 USDT for 15 consecutive days;
b) Average daily one-sided 2% depth liquidity is below 200 USDT for 15 consecutive days;
c) Average daily bid-ask spread exceeds 2% for 15 consecutive trading days.
(4) The project team is suspected of engaging in manipulative or suspicious trading activities, including but not limited to "pump and dump" schemes.
(5) The project team is involved in significant negative publicity, inappropriate marketing, or promotions that may involve pyramid schemes or blatantly false advertising.
(6) The project or project team is linked to illegal activities or activities that BingX finds objectionable.
(7) The project or project team fails to comply with applicable laws or regulations.
(8) Any threats, pending, or ongoing legal actions or claims against the project team (whether civil, criminal, or administrative, formal or informal, direct or indirect).
(9) The project team fails to meet promises made in the whitepaper or other commitments, such as unlocking tokens.
(10) The project’s progress is significantly slower than what’s outlined in the whitepaper’s development plan.
(11) Security risks emerge during the project's mainnet swap and aren’t properly addressed within 30 days.
(12) The smart contract code has security issues, like overflows or unauthorized token issuance, that aren’t resolved within 30 days.
(13) The project faces other risks, such as hacking, token theft, hidden token issuance, or double-spending attacks.
(14) The project team fails to compensate BingX and/or users for significant losses caused by mainnet or contract security issues.
(15) The token is a privacy coin, doesn’t support offline signing, or the node source code isn’t open-source.
(16) The token or project team poses significant regulatory risks, including but not limited to the token being classified as a "security" in a specific jurisdiction where BingX is unable or unwilling to prevent users from that jurisdiction from holding and/or trading the token.
(17) Any other situations that BingX deems appropriate for hiding, suspending, or delisting.
Once a token’s trading pair is hidden, BingX will suspend deposits for that token but users can still hold their existing positions. The hidden token will still appear in search results, but its trading pair will not be visible on the trading page or in the top gainers list.
The decision to hide a trading pair is final. If the project team wishes to restore trading for the token, they must reapply for listing according to BingX’s token listing requirements and processes. BingX reserves the right to determine whether the token meets the listing criteria.
Glossary
The terms used in these rules are defined as follows:
(1) Average daily trading volume
This is calculated by collecting high-frequency trading data for pairs, then weighting it to calculate the average daily trading volume. If the average during the evaluation period doesn’t meet the specified standard, it’s considered a violation.
(2) Average daily 2% depth
This is determined by collecting high-frequency data on the 2% depth in the order book and weighting it to calculate daily depth data. If the average during the evaluation period doesn’t meet the specified standard, it’s considered a violation. Average Depth = (Buy Depth + Sell Depth) ÷ 2.
(3) Average daily bid-ask spread
This is calculated by collecting high-frequency data on the bid-ask spread for trading pairs on the platform, then weighting it to determine daily spread data. If the average during the evaluation period doesn’t meet the specified standard, it’s considered a violation.
(4) Average daily BingX vs. external platform price difference
This is the difference between BingX prices and external platform index prices. BingX vs. External Platform Price Difference = 1 - (BingX closing price ÷ BingX index price).
Article 16: Liquidation
After a token is hidden, BingX will decide whether to initiate the liquidation process based on the circumstances. If liquidation is necessary, BingX will lead the process, which begins on the day of trading suspension.
Article 17: Suspension of Trading
Once the liquidation process is complete, trading of the liquidated token will be suspended, and the token will be delisted. The decision to suspend trading will be communicated either through the methods outlined in Article 7 or announced on BingX.
Article 18: Liability
The project team is fully responsible for any losses caused to BingX, users, or any third party due to violations of these rules.
Section Five: Supplementary Provisions
Article 20: If there is any inconsistency between these Rules and previous rules published by BingX, these Rules shall prevail.
Article 21: If there are any discrepancies between the English version of these rules and versions in other languages, the English version will prevail.
Article 22: BingX reserves the right to amend these rules and the final interpretation right.
Article 23: These rules are effective as of the date of publication.