Dear BiFinance Users,
Thank you for your ongoing trust and support of BiFinance. We would like to provide a clear explanation regarding the delay in listing the KOCO project. BiFinance always follows high standards of compliance and integrity, placing user interests as our top priority. We are dedicated to offering a safe, quality trading experience for all users.
Situation Explanation
The KOCO project was initially planned for listing on BiFinance. However, the KOCO team did not meet our listing requirements, resulting in a breach of agreement. According to our listing standards, the project team needed to provide sufficient market-making funds to ensure smooth trading and price stability. Yet, despite 18 users depositing a total of 16,759 KOCO tokens before the listing, the KOCO team only prepared 200 USDT in market-making funds, far below our required amount. Even after multiple communications, the KOCO team declined to provide the necessary funds，It also shows that the project lacks due responsibility to users.
Reasons for Delaying the Listing
Due to the lack of funds from the KOCO team, BiFinance has carefully decided to postpone the KOCO project listing. Adequate market-making funds are essential to protect users and ensure stable trading on our platform. Insufficient funds can lead to the following issues:
- High Price Volatility: Without enough funds, prices can swing widely due to small trades, which could lead to higher trading risks for users.
- Limited Trading Experience: Poor liquidity may make it hard for users to buy and sell assets and could cause big price gaps, leading to unexpected losses.
- Increased Asset Risk: In an unstable market, users may find it difficult to trade at the prices they expect, putting their assets at risk.
BiFinance remains committed to providing a secure and reliable trading environment. Therefore, we have chosen to delay the KOCO project listing until the KOCO team meets our platform’s requirements to ensure safe trading conditions for our users.
BiFinance’s Commitment and Future Steps
BiFinance prioritizes user protection and will not support any project that could put user assets at risk. In this situation, BiFinance followed strict listing standards to ensure user safety, choosing to delay the listing to maintain a stable, secure trading environment. This decision reflects both our responsibility to users and our commitment to long-term platform quality.
Moving forward, BiFinance will strengthen its review standards, ensuring every project listed meets high standards for safety and stability. We thank you for your understanding and support, and BiFinance remains dedicated to providing a safer, more transparent trading environment to safeguard every user’s interests.
If you have any questions, please contact BiFinance Support, and we will be happy to assist you.
2024-11-06
BiFinance Team
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