Security is the backbone of Bibox. The quality of digital assets is the premise and foundation of the security. Bibox, a quality digital asset exchange adhering to the principle of offering users the top-notch protection and trading experiences, continuously follows and monitors projects and issues warning, conceals trading pairs, suspends trading or delists the relevant projects according to the severity of the existent or potential project hazards.
The following scenarios might not be thorough, but Bibox will assess projects basing on the following rules and take the appropriate measures according to the different circumstances.
1, Security Problems.
1-1. Security flaws in smart contract code, e.g., overflow
1-2. Inconsistency between whitepaper semantics and smart contract realization;
1-3. Lack of computing capability or occurrence of a 51% attack and fork attack;
1-4. Potential security risk during Mainnet Swap.
2, Project and Team
2-1. The dramatic changes in project positioning, products, business policies, business scope, business model or the key team members, etc. and failure in informing Bibox 15 days in advance and success in passing the review process with changed project information. Transferring or selling information privately.
2-2. The documents or materials provided by the team (including financial information, business status or materials of core members, etc.) are falsified, concealed, omitted or misleading;
2-3. Any litigation, arbitration or significant administrative penalty or other significant negative news involving the project or core team members;
2-4. Significant lags occur in project promotion and development roadmap. Severe inconsistency from what is stated in the whitepaper or other official channels.
3, Token and Trade
3-1. The distribution plan, functions, and purposes of tokens are inconsistent with the official disclosure, and the project party has no formal explanation;
3-2. Continuous stagnant token market due to the major events triggered by the project’s concealed information that may affect its payment capacity and the value of its underlying currency;
3-3. Arbitrarily issue token additionally, fork token, extend or shorten a regular interval without informing Bibox within a valid timeframe and seeking approval from users;
3-4. The daily trading volume of a single trading pair below 100,000 USDT for a week, the trading volume of a single token below 10,000 USDT for 24 hours
4, Operation and Marketing
4-1. The website cannot be accessed. Unmanaged official social media outlets (Twitter, Facebook, etc.) and other online group channels;
4-2. Lack of awareness and ability to deal with negative information and public relations;
4-3. Major inconsistency in the key information disclosed including falsification, concealment, major omission and misleading information.
4-4. Publish any Bibox related information or information that severely violates the interest of Bibox without legal procedure or Bibox written agreement.
We welcome all Biboxers to provide us with more information about different projects to help us in maintaining a good trading environment and experience. Bibox will issue announcements in advance as for the projects we decide to conceal, suspend or delist. However, it is possible that Bibox cannot inform you in advance or in time due to some emergency situations. We are sorry for the inconvenience this may bring to you.
The rules of concealing trading pairs
The concealed trading pairs will not be displayed in the cryptocurrency list and price charts. The token name needs to be actively searched by the user to be displayed in the currency transaction area.
Cryptocurrency investment carries risks. Please assess the risks and invest carefully.