The principle of the review of FCoin GPM more based on the idea of registration-based IPO system but not approval-based IPO system.
We do not make value judgments on the project (whether its value meets the conditions of Listing, whether the market value is reasonable, etc.), but emphasize the requirements for transparency and disclosure (publicize as much information as possible, including basic information, latest progress information, etc.).
1. When the project is scheduled, a 24-hour information disclosure period is required. The trading market will be opened after the information disclosure period. We will post project information in a prominent position on FCoin GPM.
2. After the trading market is opened, the project party needs to publicly disclose the progress information of the project every week. Community investors can judge and verify the progress of the project.
3. We will provide a report link in a prominent position on the FCoin GPM. Once the reported project is initially confirmed, the process of listing or the trading market will be suspended immediately. Once confirmed, we will stop the listing process or delisting the reported project.
4. In addition, the contract code security audit is a prerequisite for listing. Projects that fail to pass security audits will delay scheduling and retain eligibility for listing.
The implementation plan for the above principles is:
(1) All projects scheduled in July 8th, 2018 (GMT+8) and later must meet the 24-hour publicity requirements, and the specific rules will be announced today.
(2) The principle of public disclosure of the progress of the project every week will be implemented from next week. The specific rules will be subject to the subsequent announcement.
(3) The report link has been opened and effective. It is hoped that community users will actively verify and report malicious projects.
(4) We will announce the details of the safety audit requirements in the near future.
July 7, 2018