Circle Announces Decision-Making Process on New Token Listings

The standards exchanges use in making listing decisions is not completely an exact science.

Goldman Sachs-backed Fintech startup Circle has announced details relating to how it makes listings on its Poloniex exchange in an effort to provide transparency. The five general standards that Circle looks at when analyzing the possibility of an asset are market dynamics, business model, people, technology, and fundamentals.

Projects hoping to be listed are required to fill out the Asset Listing Form firm after which a legal analysis, security review and implementation trial of the asset will be done if the project has potentials.

According to a statement released by Circle on its blog, the standards checklist was not complete and was only made to act as a guide and may not cover all projects.

Team Circle noted on the company’s blog that: “We understand that projects may be at different points in the development cycle, and each brings something different to the table. Instead, this framework is meant to help us prioritize new listings according to the opportunity they present for Poloniex customers.”

Circle explained that in the event of airdrops, swaps, and forks, the events are evaluated separately. A project stands a higher chance of receiving the support of Circle if the planning and documentation are conducted and informed well ahead of time.

According to Circle, when projects do not meet the goals established by the company, it may be essential to delist. Projects are usually informed of a delisting seven days prior during which they will have time to continue trading and close positions. An additional 14 days will be added for projects to withdraw remaining balances from the exchange.

Circle also added in the release that no listing fee is needed to list an asset.

Circle’s updates on its asset listing process comes when the company is showing impressive ambitions.