Bitget Token Listing Rules and Regulations Tightened Further

Bitget Token Listing Rules and Regulations Prioritize Safety

Crypto exchange Bitget has introduced a significant overhaul of its token listing criteria, announcing on October 10, 2024, that it will now require projects to meet more stringent guidelines before listing their tokens. The new requirements emphasize business transparency, team credibility, and strong tokenomics. This move aims to protect users by preventing misleading valuations and ensuring that projects on the platform are viable long-term.

Enhanced Scrutiny on Project Viability and FDV

One of the key changes involves a detailed review of a project’s fully diluted valuation (FDV), ensuring that token valuations accurately reflect the project’s funding. Bitget stated that the FDV should typically not exceed 20 times the raised amount, with the goal of curbing inflated valuations that could mislead investors. For example, a project raising $5 million should have an FDV of less than $100 million. By applying this guideline, Bitget seeks to foster fair market conditions and prevent overpriced token launches.

Business Plan, Developer Background, and Tokenomics

Bitget's new requirements also include a detailed examination of a project’s business plan and the background of its developers. The exchange will scrutinize developers’ track records for any connections to fraudulent activity, ensuring that teams involved in token projects are trustworthy and committed to long-term success. Tokenomics will receive "special attention," with Bitget focusing on aspects like token supply, distribution, and utility. Projects with short token lock-up periods — below two years — will face increased scrutiny, as they may indicate a lack of long-term vision.

Token Distribution and Security Concerns

Bitget has also made it clear that it will review the security of smart contracts and examine token distribution for tokens already listed on other platforms. Tokens with concentrated distributions, where the team controls more than 50% of the supply or the issuer holds over 20%, will be flagged as risky. This ensures that token issuers cannot manipulate the market or exert undue influence over the token’s value. The exchange cited Simpson-themed tokens as an example, where attempts to hide centralized control failed, leading to their rejection.

A Focus on User Protection

The stricter listing criteria underscore Bitget's commitment to safeguarding its users. Hon Ng, Bitget's chief legal officer, emphasized that these measures are designed to ensure projects listed on the platform are transparent, secure, and legitimate. By prioritizing long-term viability and addressing risks like centralized control, Bitget aims to create a more secure trading environment for its users.

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