- Bybit has unveiled a new token listing framework to enhance user protection and maintain market integrity
- The framework includes various product offerings like Pre-Market, ByStarter, Launchpad, and marketing support
- Bybit has addressed concerns over transparency, security, and market manipulation due to a surge in project listings
Bybit, the world’s second-largest cryptocurrency exchange, has unveiled a new token listing framework which it says enhances user protection, maintains market integrity, and supports the growth of the blockchain ecosystem. This includes a range of product offerings such as Pre-Market, ByStarter, Launchpad, Launchpool, and various listing options, alongside marketing and operational support. Bybit notes that a new framework was needed because a “surge in project listings across the crypto industry has raised concerns about transparency, security, and potential market manipulation.”
Bybit Hails “Pioneering Framework”
In a press release, Bybit noted that, as a major player in the exchange racket, it has a “growing obligation to both our customers and the industry…to list the projects our clients want, ensuring that our platform remains aligned with user needs and market demands.” To this end, Bybit has unveiled a “pioneering framework” that it says prioritizes the interests of its users while promoting a healthy blockchain ecosystem.
The new framework includes several key components designed to enhance market order and protect users:
- Pre-Market Mechanism: To reduce the risk of market manipulation, Bybit will continue to use its Pre-Market feature, which bridges the gap between primary and secondary markets, ensuring a more orderly trading environment.
- Ongoing Compliance Monitoring: Bybit will implement continuous monitoring of listed projects to ensure they meet ongoing listing criteria and disclosure obligations. This includes periodic performance reviews, financial audits, and technology assessments.
- Transparent Information Disclosure: The platform will provide comprehensive information about key dates related to listed projects, such as protocol upgrades and token burns, allowing users to make informed decisions.
- Clear Delisting Protocols: Bybit will establish clear criteria for delisting projects, including underperformance, compliance failures, and fraudulent activities, to safeguard users from risky investments.
- Community Engagement: The exchange will actively seek feedback from its user community through surveys, voting mechanisms, and advisory panels to inform listing decisions and enhance transparency.
Helen Liu, Chief Operating Officer at Bybit, emphasized the importance of this new framework:
Our goal is to create a fairer, more transparent, and secure marketplace for everyone. By establishing rigorous listing criteria and clear delisting protocols, we are taking a significant step toward protecting our users and fostering long-term, sustainable growth within the blockchain industry.
Bybit adds that its new framework reflects its commitment to achieving fairness and transparency and serves as a call to action for other industry players to co-build a healthy and sustainable ecosystem.
