Teams interested in listing their tokens on Ethfinex can now do so by applying through the new and transparent community token voting process.
Anyone can submit any eligible token using the Kleros token pool system. On the last Tuesday of every month 12 tokens will be drawn at random from the pool and will then be eligible to be voted on by our community for listing.
It takes several days for submitted tokens to pass through the Kleros system, as they can be open to challenge from the community. Therefore we suggest that you submit your token as early as possible.
- Submit your token
- Add a Badge and wait for verification
- Tokens with Badges will be put forward to the NEC community vote
- Tokens which finish in the top three spots in the community vote will be listed to Ethfinex and Bitfinex.
Note: Ethfinex can also add up to 3 tokens to a round at our discretion, so that the community does not miss out on a timely opportunity. If you feel your token is eligible or if you have any questions please email firstname.lastname@example.org.
The following outlines the minimum set of criteria each project and its associated token must meet before it can participate in the Ethfinex Community Vote and become traded on the Ethfinex platform. Anyone can challenge a project’s ability to meet these requirements. An independent jury will decide whether or not this challenge is valid and therefore if the project is eligible for listing.
1. Compliance and Legal
- The token is not an investment product under Swiss law or the jurisdiction of issuance.
- The token issuer is not on the FATF High Risk Jurisdiction list as per the below link: http://www.fatf-gafi.org/countries/#high-risk
- The token issuer has not been subject to previous successful enforcement action by a financial services regulator in any jurisdiction
2. Team and Governance
- The token issuer’s directors are fit and proper persons (for example they have no previous record of fraud or similar dishonesty offences)
- The project leadership, whether as volunteer community members or founders/issuers, are deemed to have the specialised knowledge and experience to deliver the technology roadmap. This could be evaluated for example with:
- prior track records of protocol or product development
- a clearly articulated vision and roadmap
- backing and support from advisors or investors who are familiar with the subject matter and relevant industries
- There is a plan and governance structure in place for allocation of funding towards key aspects of the team’s roadmap, and or for future fund-raising
3. Technology and Product
- The token issuer’s publicly stated intention is to ensure the core aspects of the project will be open source and therefore able to operate independently from the original development team.
- There must be evidence of novel technology in development. This may be evaluated for example by demonstrating:
- a working beta product,
- open-source code in development,
- architecture diagrams or novel applications of cryptography and mathematics
- There is a demand for the token driven by an existing or future utility. This utility is obtained from obtaining, holding, participating, or spending the token. The team has identified a reason for the token to exist which is not just fundraising.
- The token has passed a third-party review or security audit that deems it as safe, or be using a well-known audited framework (such as OpenZeppelin) without changes.
- The token source code must be available open-source.
- If the token can be frozen or minted, it must be evident that reasonable protection and security has been implemented around the private keys which control these functions (this may be part of the third-party audit).
- The token has either a minimum market cap of $1m USD at the time of according to CoinMarketCap at the time of the token listing application OR if this is not applicable a minimum fundraise of $1m.
- The total minted supply of tokens is not controlled by a single entity or group of entities under common control, or will be controlled by a single entity or group of entities after the token is released.
- At least 10% of the total supply is freely circulating in the market or will be freely circulating after the token is released;
- The team which issued the token should have made efforts to be transparent about details of the token supply, circulating supply, and any inflation, as well as their own ownership of issued tokens.