The Koinpark Token Management Rules (the “Rules”) have been established to support the healthy development of the blockchain industry, nurture a secure and stable environment for digital assets, safeguard traders' rights and interests, and ensure the proper regulation of token management.
Article 2: Definitions
Unless specifically stated to the contrary, the terms used in these Rules shall carry the meanings assigned below.
DEF 01 / EXCHANGE PLATFORM
1. “Koinpark” refers to the Koinpark cryptocurrency trading platform.
DEF 02 / ACCOUNTABLE ISSUER REPRESENTATION
2. “Project Team” refers to any party accountable for issuing, developing, or operating a Token Project. This includes a legal entity, team, individual, or beneficial owner of a Token Project listed on Koinpark, or a representative acting on behalf of a decentralized Token without a clearly defined team.
DEF 03 / CRYPTOGRAPHIC DIGITAL ASSET
3. “Token” or “Project” means any digital cryptographic asset traded on the Koinpark platform.
Articles 3 — 6 • Disclosure Protocols
Article 3: Disclosure Responsibilities
Project Teams are required to disclose all information that could significantly affect the Token or the Team itself in a prompt and transparent manner. All disclosed information must be truthful, precise, and complete without being false, misleading, or omitting any critical facts or considerations.
Article 4: Forms of Data Disclosure
From the date of publication of these Rules, Project Teams are required to disclose both periodic and event-driven (ad-hoc) disclosures on their official website.
The scope of these disclosures should cover, but is not limited to, updates on code development, market-related activities, institutional participation, community engagement, and any other key developments.
Article 5: Ad-Hoc Disclosures
Ad-hoc disclosures refer to any additional disclosures that must be made by the Project Team outside of regular reporting, in the event of unforeseen or significant incidents. These incidents must be reported to Koinpark in writing and publicly disclosed within 24 hours of their occurrence.
Such incidents may encompass, but are not limited to, the loss or change of access to key personnel, significant technical disruptions, alterations in product or technical direction, major legal proceedings involving core team members, substantial adverse media exposure, or any other occurrences that may influence or can be reasonably anticipated to affect the Token’s market value, including the unlocking or repurchase of previously locked Tokens.
Ad-hoc disclosures should clearly outline the cause, timeline, key facts, and consequences of the incident.
Article 6: Disclosure Exemptions
If the information that needs to be disclosed involves matters of national confidentiality or if its disclosure could conflict with public interest, the Project Team may withhold such information, subject to prior approval from Koinpark.
Articles 7 — 14 • Inspection System
Article 7: Inspection and Responses
Koinpark reserves the right to conduct inspection with the Project Team regarding the Project at any time. The Project Team is expected to fully cooperate and provide a response within 24 hours of receiving such an inspection.
Article 8: Methods of Inspection
Koinpark may reach out to the Project Team through any of the following official communication channels provided by the team:
1. The email address provided by the project team.
2. Provided phone number.
3. Official instant messaging accounts (e.g., Telegram).
Article 9: Scope of Inspection
Inspection may cover, but are not limited to, the following aspects:
Status of promises and commitments made in the whitepaper or on the Project’s official platforms
Core team employment updates and Token holdings
Product development progress and technical milestones
Any other developments that could significantly impact or are reasonably likely to affect the Token’s price including token unlocking or buyback events
Article 10: Evaluation Outcome
Koinpark will evaluate whether the Project Team has violated these Rules based on factors such as responsiveness, the extent of cooperation, and the content of the replies received.
If violations are identified, Koinpark may take appropriate actions in accordance with the enforcement procedures outlined in “Managing Violations”. Notifications of these actions may be communicated directly to the Project Team using the methods listed in Article 8 or made public through an official announcement.
Article 11: Periodic Project Evaluations
Koinpark reserves the right to carry out regular or ad-hoc evaluations of both the Project and its Team under the following circumstances:
1. Key commitments outlined in the whitepaper
2. Codebase security assessments
3. Factors that may influence or are reasonably expected to influence, the Token’s market price, such as changes in token holdings by the Project Team or major holders, and adherence to token lock-up commitments
4. Alterations in core team composition
5. Any other aspects Koinpark deems necessary for review at its sole discretion
Article 12: Special Evaluations
Koinpark may initiate a special review of the Project under any of the following conditions:
1. The Project Team is subject to user or media reports alleging issues covered under Article 11, and either fails to respond or provides an inadequate response;
2. A significant risk or concern is uncovered during a routine review;
3. Any other scenario Koinpark considers appropriate for conducting a deeper investigation.
Article 13: On-Site Inspections
Koinpark may conduct on-site visits and supervision of the Project Team, performing regular or ad-hoc investigations as needed.
The Project Team is required to fully cooperate with Koinpark during any on-site inspection. The scope of the inspection may include, but is not limited to, verifying the fulfillment of commitments made in the whitepaper or on the official website, reviewing the employment and token holdings of core team members, assessing the progress of product and technical development, and examining any other factors that may influence or reasonably be expected to influence the Token's price fluctuations (including actions like token unlocking and buybacks).
If the Project Team refuses, obstructs, or fails to cooperate with Koinpark’s inspection, Koinpark may take appropriate actions in accordance with the Rules at its sole discretion.
Article 14: Cooperative Responsibilities of the Project Team
The Project Team is obligated to actively cooperate with Koinpark during both routine and special reviews. The Project Team must also respond to or address any issues raised by users, inquiries from the media, or risk notices from regulatory bodies.
Failure to fulfill these cooperative obligations may result in Koinpark taking relevant actions against the Project Team as per the Rules. Such actions may be communicated through the methods outlined in Article 8 or via an official announcement.
Articles 15 — 18 • Risk Compliance Procedures
Article 15: Right to Conceal Trading Pairs or Suspend Trading
15.1 Koinpark reserves the right to conceal specific trading pairs or temporarily suspend trading activities based on the severity of any of the following conditions:
1. Fraudulent Conduct by Core Team Members
Discovery of serious misconduct or fraud by any core team member, including but not limited to misappropriation of raised funds, untraceable or inactive development teams, abandonment of technical support for the project, intentional concealment of key project information, or publication of materially false, misleading, or deceptive content.
2. Team Dissolution or Unapproved Resignation
The dissolution of the project’s development team or the resignation of key team members without prior community notification and approval, resulting in development being halted or severely impacted.
3. Inadequate Liquidity or Low Trading Activity
The project may be subject to delisting procedures if liquidity or trading volume is found to be critically low, based on the following indicators:
Liquidity Parameter Metric
Delisting Trigger Boundary
2% Average Daily Single-Sided Liquidity
< 800 USDT for 7 consecutive days
2% Average Daily Single-Sided Liquidity Limit
< 500 USDT for 5 consecutive days
Average Daily Bid-Ask Spread Threshold
> 2% for 8 consecutive days
Average Daily Bid-Ask Spread Limit
> 3% for 5 consecutive days
Daily Taker Volume Base Floor
< 10,000 USDT for 7 consecutive days
Daily Trading Frequency Ratio Floor
< 10% for 7 consecutive days
Daily Taker Volume Absolute Floor
< 5,000 USDT for 5 consecutive days
Daily Trading Frequency Absolute Ratio
< 5% for 5 consecutive days
4. Suspicious or Manipulative Market Behavior
If the Project Team is reasonably suspected of engaging in irregular or manipulative trading practices such as pump-and-dump schemes or any activity designed to distort genuine market conditions Koinpark reserves the right to take corrective actions, including trading suspension or token delisting.
5. Self-Trading Prohibition
Self-trading by the Project or its team is strictly prohibited on Koinpark. If verified instances of self-trading occur, Koinpark may take immediate enforcement actions, which may include but are not limited to, halting token trading, applying financial penalties, or proceeding with delisting of the token.
6. Negative Public Perception or Misleading Promotions
If the Project Team is subject to widespread negative public sentiment or engages in questionable promotional activities such as participation in pyramid-like schemes or the dissemination of clearly misleading marketing content, Koinpark may consider enforcement actions.
7. Involvement in Unlawful or Objectionable Conduct
If the Project or its team is found to be connected to unlawful activities or any conduct that Koinpark, at its sole discretion, deems inappropriate or damaging to the platform's integrity, corrective measures may be taken.
8. Non-Compliance with Legal or Regulatory Requirements
Inability or failure of the Project or Project Team to adhere to relevant legal or regulatory obligations will be considered grounds for concealment, suspension, or delisting.
9. Legal Proceedings or Claims
If the Project Team is subject to any form of legal action whether threatened, pending, or ongoing; civil, criminal, administrative; formal or informal Koinpark reserves the right to review and act accordingly based on the potential risk to the platform and its users.
10. Unjustified Token Unlocking
The Project Team unlocks the Tokens without fulfilling the commitment made in the whitepaper or in other forms.
11. Delayed Project Development
If the progress of the Project falls significantly behind the timeline or milestones outlined in the whitepaper or project roadmap, it may trigger review and possible enforcement actions by Koinpark.
12. Mainnet Transition Security Risk
If any security threats emerge during the Project’s transition to its mainnet and are not effectively resolved within 30 days, Koinpark reserves the right to take appropriate actions, including suspension or delisting.
13. Unresolved Smart Contract Vulnerabilities
Should critical issues such as overflows or unauthorized token issuance exist within the Project’s smart contract code and remain unaddressed for more than 30 days, the Project may be subject to enforcement actions by Koinpark.
14. Major Security Incidents
Incidents such as hacks, token theft, undisclosed token minting, or double-spending attacks will be treated as significant risks. Any such occurrence may lead to immediate review and appropriate action, including delisting.
15. Failure to Compensate for Platform or User Losses
If the Project Team is responsible for considerable losses due to smart contract or mainnet security flaws and fails to compensate Koinpark or its users, corrective measures will be initiated.
16. Privacy Tokens or Lack of Transparency
Tokens that function as privacy coins, lack support for offline signatures, or whose node source code is not openly accessible may be deemed non-compliant and subject to removal from the platform.
17. Regulatory Compliance Concerns
If the Token or Project Team presents major regulatory concerns—such as the token being classified as a security in certain jurisdictions—and Koinpark is unable or unwilling to restrict access to users in those regions, trading may be suspended or terminated.
18. Other Risk Factors
Koinpark may, at its sole discretion, conceal, suspend, or delist any Token under other circumstances that it determines to be risky, non-compliant, or detrimental to the platform and its users.
Once the trading pairs of a Token are concealed on Koinpark, the deposit function for that Token will be disabled. However, users will still be able to retain their existing Token holdings and its trading pairs will no longer be visible on the trading interface.
The decision to conceal trading pairs is final and cannot be reversed. Should the Project Team wish to reactivate trading for the Token, they must submit a fresh listing application in accordance with Koinpark’s current token listing policies and procedures. Koinpark retains full discretion in determining whether the Token satisfies the necessary criteria for relisting.
15.2 Glossary
1. Average Daily Single-Sided Liquidity (2%, USD)
Koinpark collects depth data every 10 seconds, totaling 8,640 data points per day. The average one-sided depth is then calculated using the formula: One-Sided Depth = (Buy Depth + Sell Depth) / 2
2. Average Daily Spread (%)
The spread is measured every 10 seconds throughout the day (8,640 times), with the average computed as the difference between the best bid and best ask prices, expressed as a percentage of the mid-price.
3. Daily Taker Volume (USD)
Represents the total daily taker trading volume for a specific trading pair on Koinpark.
4. Daily Trading Frequency (%)
This metric is tracked every minute, resulting in 1,440 data points per day. It reflects the percentage of minutes during the day in which at least one trade is completed. Formula: Trading Frequency = (Number of Minutes with Trades / 1,440) × 100
5. Intra-day Price Deviation (%)
Monitored once per minute (1,440 times daily), this reflects the absolute difference between Koinpark’s minute-level closing price and its index price: Price Deviation = |1 - (Koinpark Minute Closing Price / Index Price)|
Article 16: Liquidation
In the event of concealment or removal of a Token’s trading pair, Koinpark reserves the right to initiate a liquidation process for the respective Token at its sole discretion, on a case-by-case basis. The asset liquidation process on the platform will be managed and executed by Koinpark. If the trading of a Token is suspended, liquidation shall begin from the effective date of the suspension.
Article 17: Termination of Token Trading
Upon completion of the liquidation process, trading of the affected Token will be formally terminated, and the Token will be delisted from Koinpark.
Notifications regarding the termination of trading will be issued to the Project Team or users through the communication methods specified in Article 8, or via a formal announcement on the platform.
Article 18: Liability
Project Teams are accountable for any damages caused to Koinpark, users, or third parties due to breaches of these Rules.
Articles 19 — 22 • Additional Rules
Article 19
In case of conflict between these Rules and previously published rules or announcements, these Rules shall take precedence.
Article 20
If discrepancies exist between translated versions and the English version of these Rules, the English version shall govern.
Article 21
Koinpark reserves the right to modify these Rules and retains final authority over their interpretation.
Article 22
These Rules are effective from the date of publication.
