Coin trading and wallet halts, delisting policy and withdrawals after delisting.
Modified on: Tue, August 6, 2018 at 4:00 PM
Coin trading and wallet halts.
In circumstances where it comes to the attention of Satowallet that there is:
Suspicious activity involving a coin’s supply and balances, or
Defects in its code, or
It’s blockchain or related technology becomes compromised, or
Suspicious trading activity and other factors indicate market manipulation, or
There is news or evidence to question the integrity of its developers,
Satowallet’s policy is to halt trading in the coin and its associated wallets. An investigation will then be implemented. In cases where the investigation results in a positive outcome, for example, the code is fixed or the blockchain is rectified to Satowallet’s satisfaction, the coin and associated wallet may be re-enabled for trading. In other cases the coin will likely be removed/delisted.
Satowallet Coin delisting policy.
Satowallet reserves the right to remove or delist a coin from its wallet/exchange for any reason and without prior notice if in Satowallet’s opinion, circumstances warrant it. These instances are not common, and the immediate delisting of coins is for security purposes and the protection of Satowallet users.
There are other factors that Satowallet will consider in determining whether to delist a coin. These include but are not limited to:
*Poor trading volume bellow $1000 daily on the exchange for an extended period of 14 day,
*Violation of Satowallet’s Coin Listing Agreement,
*Persistent complaints about a coin by our customers,
*Coins whose developers no longer support them,
*Poor experience with and response from a coin’s developers,
*Poor implementation of use cases,
*Very poor reception by community, and
*Evolving regulatory and compliance issues.
In such cases Satowallet may in its discretion, publish its intention to delist a coin in the future. In such cases Satowallet will endeavor to give 30 days’ notice of such removal but reserves the right to shorten that period. The actual date of delisting will be published.
Coin halts and delisting’s from satowallet will be published in the News section of the website (www.satowallet.com) or her twitter account. It is the responsibility of the user to regularly check Halts and Delisting Notices.
Coin withdrawal after delisting.
After a coin has been flagged for delisting on the Satowallet website users should remove all coins as soon as possible
After the coin has been delisted users will have 30 days to withdraw their coins. After the period of 30 days from the date of Delisting, the coins wallet will be removed, and withdrawals will not be possible under any circumstances, the coins will be forfeited.
There may be circumstances where a user is not able to withdraw a coin due to factors that are beyond Satowallet’s control, for example, coins with significantly broken blockchains or wallets, or coins that are effectively abandoned and the functionality of the wallet or network is no longer supported. These examples are situations that are the responsibility of the applicable coin’s development team, who should ensure the continued functionality of their network. Satowallet is unable to assist in these matters and has no choice but to remove the wallet.
*This policy takes effect from August 20th 2018.