In this Coin Listing Guide of PayBitoPro (hereinafter referred to as “we”, “our”, “ours”, “the Company”), the customers (hereinafter referred to as “customers”, “users”, “you”, “your”, “yours”) will get to be acquainted with our Coin Listing Guide and our vision. The customers shall also be aware of the compliance of the coin listing procedure and how they align with our core vision and statements.
It is defined as the system available to everyone and is not controlled by any single entity or an organization. The network should be public and enable trustless consensus.
New and advanced technology that intends to solve a problem, establishes & address to the need of a new market, creates value for the network participants
The technology enables individuals to have more control over their assets or to consume, produce, invest or work as they choose.
The technology should not hold any restriction for use by anyone. It should contribute to the broader mission of building the on-ramps to Finance 2.0.
Assessment of engineering and product quality is conducted.
Open source code, well documented peer-review, and testing by contributors separate from the initial development team on Github, etc.
There is a working alpha or beta product on a testnet or mainnet.
Demonstrable record of responding to and improving the code after a disclosure of vulnerability, and a robust bug bounty program or third-party security audit.
Assessment of short-term operating expectation and decision making is conducted.
The Board members and Founders will be able to articulate company strategies, vision, use case or drive developmental progress. Must possess a track of demonstrable success or experience.
Assessment of the system architects and development teams with a proven track record of setting and achieving goals.
Proven track records of stakeholder management, setting reasonable budget, fund management and achieving project milestones. Strategic drive in business fundamentals are the key to project long term viability.
Domain knowledge should not be centralized to a small group of people.
There should be a structured process to process definition for implementation of major code updates or voting process for conflict resolution.
There should be a plan for or built in mechanism for fundraising, rewarding or allocating funds for future development beyond the funds raised from ICO or from traditional investors.
Justifies the use case for a decentralized network and outlines project goals from a business and technology perspective.
Assessment of network’s potential hindrance for scaling and ability to grow and handle user adoptions.
Clear timeline with development outlines, reasonable project milestones, or built-in development incentives.
The barriers to scaling the network have been identified, or solutions have been proposed or discussed. The resource consumption costs for validators and miners are not the main deterrents to participation.
The asset is a separate blockchain with a new architecture system and existing blockchain for synergies and network effects.
It is to be determined how liquid the asset is.
The determining factor is about the market capitalization when compared to the total market capitalizations of other assets.
Trade velocity, or turnover is a significant part of market capitalization. This is a measure of how easily the asset can be converted to another asset.
For service or work tokens, new supply is created through consensus protocols. If the supply is capped, then a material amount of the total tokens should be available to the public.
The number of exchanges that support the asset.
The asset should not be restricted to a single geographic region and should be available to trade on a decentralized exchange.
The asset should be paired with Fiat for trade.
If secondary markets exist, then volume should be relatively distributed across the exchanges.
The driving reason for this asset and whether it leads to stronger network effects.
Customer demand is carefully considered, however, any asset which is created from a fork, airdrop, or automated token distribution is subject to a separate set of criteria.
Growing developer base and measured progress as defined by the number of repositories, commits and contributors.
There are investments from venture firms or hedge funds which have experience in working with crypto companies or projects. The project has corporate partnerships, joint ventures, or dedicated consortiums.
Rudimentary assessment of growing network effect.
The market capitalization has grown after the network has activated, demonstrating increased demand for the asset after the project’s launch.
Growing number of nodes on underlying blockchain. The project should have a globally distributed node network, meaning operating nodes are not contained in a single country or a geographic region.
Growing number of transactions and fees paid over time. Growing number of asset or token holders which is an indicator of asset distribution.
If PayBitoPro can legally offer this asset.
The asset should not be classified as a security.
The asset should not affect PaybitoPro’s ability to meet compliance obligations, which includes, 1. AML Program, 2. Obligations under Government licenses in any jurisdiction (Eg. Money Transmitter Licenses).
Whether listing the asset is inconsistent with PaybitoPro Policy.
The asset, network, application or fundamental nature of the project does not constitute a prohibited business under terms of User Agreement.
It is observed and assessed whether the economic structures are designed to reward the network participants to act in the best interest of the network.
It is a service, work, or a hybrid token. Tokens backed by Fiat or other physical assets are categorized as US Securities and will not be considered this time.
There is utility from obtaining, holding, participating, or spending the asset. The team defines a clear and compelling reason for native digital assets to exist.
There is an algorithmically program inflation rate which rewards security and network effects.
There should be mechanisms which deter bad network behavior.
A small subset of what we believe are the best practices for ICOs and indicators of the token’s future ability. If the token did not have a sale, this section is not applicable.
There is a focus on stringent security protocols and best practices to limit scams, hacks and theft of funds.
Best efforts by the team to allow a fair distribution of tokens.
The ownership stake retained by the team is a minority stake. There should be a lock-up period and reasonable vesting schedule to ensure the team is economically rewarded to improve the network in future.
The team should be available and responsive to questions or feedback about the product, token sale or use of funds across the multiple forums.
The team should sell a fixed percentage of the total supply, and participants should know the percentage of total supply that their purchase represents or have a clear understanding of the inflation rate.
White paper should cover the entire aspects for ethical or professional code of conduct.
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