Bit-Z is dedicated to providing global users with the best comprehensive digital asset trading services. Bit-Z supports all mainstream digital assets and gives options to market and community users. Project Assessment Center of Bit-Z will keep assessing online currencies in multiple aspects like a project team, technology development, community operation, and liquidity. Inactive currency pair will be hidden (hidden currency pair will show up once being actively searched), and in severe cases, will even be taken offline to protect the rights of Bit-Z users and promote the healthy development of blockchain industry.
Assessment content includes but not limited to:
1. Project and Team
1.1 Major changes to the important members of the project team, products, and business models shall be notified to the Exchange for re-audit. If any change appears prior to notification, the platform will directly remove the project;
1.2 Unethical behaviors or fraudulence of the team, including but not limited to the falsification of the personal information of team founders, co-founders or consultants, etc., the involvement in market manipulation, or the legal charges or accusations faced by any team member;
1.3 Violations of laws and regulations of the project party as notified by the judicial authorities and regulatory authorities of any country or region.
2. Technology Development and Main Network/Smart Contract
2.1 The main network of the project has potential security vulnerabilities;
2.2 There are security vulnerabilities such as overflow in the smart contract code;
2.3 A splitting with 51% being attacked exists or has happened in the project;
2.4 The project has not been developed according to the time node planned in the white paper, and there was no announcement of the delay of progress on the official website.
2.5 The public blockchain/contract-layer source codes (GitHub) have not been updated for a long time, and there are no updates to the long-term version of the application of the project.
3.Community Construct and Operation
3.1 Do not make comment or reply to questions or queries about the community;
3.2 Have significant deviation in disclosure, deceive users or the platform;
3.3 Website unreachable, confusion of information, no maintainers for social media or community for a long time;
3.4 No disclosure of any project update for over 1 month on social media or the official website (eg: progress of development, version update, team dynamics, etc.)
3.5 Project proponents deliberately conceal potential important events that will significantly influence currency prices.
4.1 Lack of liquidity, zero transaction for single currency pair on two consecutive days;
4.2 Maximum decline reaching 70% for 5 consecutive days or other lurking suspective transaction;
4.3 Make unauthorized changes to lockup mechanism or do not make disclosure according to the lockup mechanism, and severe cases will be forced to go offline.
5. Other Factors
5.1 Be uncooperative with the routine check of the exchange;
5.2 Other immoral, illegal acts or fraud;
Hidden Transaction and Offline Procedure:
Bit-Z assessment center will strictly assess all projects and disclose assessment results to all community users in real-time and will inform users in advance as possible and hide the currency pair once discover the above problems. After verifying the circumstance, severe cases will be suspended and will go offline if the project proponent does not solve the problem within the stipulated time.
Notice: Being hidden does is equal to being removed. Please trade according to your risk tolerance.
Bit-Z official WeChat：Bitz_888
Risk reminder: Cryptocurrency asset is a kind of innovative investment product with volatile prices. Bit-Z serves as a neutral trading platform, established only for providing convenience for cryptocurrency enthusiasts trading cryptocurrencies, and assumes not liability of guarantee of or compensation for the investment value of coins. Please make a rational estimation on your investment ability and make prudent investment decisions.
Thank you for your support!
May 15, 2019