According to the Special Treatment Rule of KuCoin, the latest phase of the ST observation has ended. The following projects have been disqualified and the tokens will be removed from the exchange:
EncrypGen (DNA)
Publica (PBL)
Raiden Network Token (RDN)
Monetha (MTH)
BlockMason Credit Protocol (BCPT)
Gladius Token (GLA)
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The delisting process is as follows:
- Deposits and pending orders will be shut off at 22:00 (UTC+8) November 22, 2018. For better management of your funds, we recommend that you cancel your pending orders of relative projects as soon as possible.
- Relative trading pairs will be closed at 14:00 (UTC+8) November 23, 2018.
- Withdrawals of relative tokens from KuCoin will continue to be supported until 18:00 (UTC+8) on November 23, 2019.
- If you are currently holding relative tokens, please make your withdrawal on or before the closing date above.
See the official announcement here:
https://news.kucoin.com/en/st-kucoin-delisting-of-some-projects/
I currently hold Encrypgen(DNA) and I have also observed that Raiden Network Token(RDN) and Monetha(MTH) are doing quite fine on binance so I decided investigate further as to why these coins are being delisted from Kucoin.
These projects have been under probation (Special Treatment Area) for a while but have failed to meet up with the exchanges terms of service which includes:
- Low liquidity for a period of time
- Insolvency
- Incompetency of the team or project
- Struggling or ceasing business activities for 3 months
- Malicious act in the market
- Failure to submit reports as required by the exchange
Basic knowledge about the projects
EncrypGen(DNA)
EncrypGen is a project that set out to solve the challenge of dna ownership. Genomic data is a very vital tool used in medical and biological sciences and in future, individuals would want to be in control of their genomic data.
There has been projections about the threat of data security and accessibility and as such the project developed possible solutions to be achieved through its GENE-CHAIN, MY GENE-CHAIN applications and DNA token.
The Gene-chain is a commercial product designed to serve users of Genomic data while My Gene-chain was designed for individuals who want to have control over their genomic data and DNA serves as the medium of exchange to be used around the project.
PUBLICA(PBL)
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Publica is a an publishing platform built on the blockchain that organizes how books are published, funded and read, publica works like amazon where you can buy books and have it shipped down to you but it takes an advanced step by turning books into a cryptocurrency such that the token can be read. They solve the problem of funding and the difficulty of having your book published.
Another interesting thing is the Book Ico feature where you can run an ico for your book to raise funds instead of running to publishers, this book ico could also help you raise a community that would help spread the word.
With publica, an author can get funding, community support, transparency, ease of contracting and automation of revenue sharing in blockchain smart contracts while readers can get the benefits boarderlist distribution and ownerability.
RAIDEN NETWORK TOKEN (RDN)
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One major use of the blockchain technology is peer to peer funding without the use of any financial institution, this is a very amazing idea but is challenged with scaleabilty which is the reason payments dont get widespread adoption.
There is need for blockchain to get global consensus on the order and transfer of all transaction and every peer needs to be receive updates about the shared legder, this action is constrained by hardware and bandwidth hence the birth of the Raiden Network Project.
The Raiden network project seeks to avoid the bottle necks of blockchain consensus by leveraging a network of secured channels which allows value to be securely transferred off-chain without involving the blockchain for every transfer.
With this network, many transfers can happen concurrently and independently without the need for global blockchain consensus on each transfer.
MONETHA(MTH)
This is a mobile payment processing company built on the ethereum blockchain powered by smart contracts with a decentralized trust and reputation system to solve the challenge of trust issues between merchants and clients on an ecommerce platform.
Trust is an essential factor that enables clients and merchants do business as either party is at the risk of charge backs. Faulty goods or fraud and Monetha through the blockchain technology sets to curb this challenge.
BLOCKMASON CREDIT PROTOCOL (BCPT)
This is a system for recording debts and credits on the ethereum blockchain, breaking it down, one party sends a notice of a debt or credit and the other party confirms it and it then gets registered on the blockchain and stored within the credit protocol smart contract.
These are very amazing projects and I believe delisting them on kucoin doesn't knock them into the failure corner. RDN and MTH are still doing fine on Binance but I have my ears to the ground and I am observing their progress.
This is definitely not a financial advice
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