Delisting Mechanism
10 days ago · Updated on

Zoomex always conducts thorough evaluations to guarantee the utmost quality of trading experience for our users of all trading pairs. Should a trading pair not meet our strict listing criteria, it will be taken off our platform.

When determining the delisting of a trading pair, Zoomex takes into account numerous factors, which include but are not limited to:

  • Severe market conditions
  • Risks associated with user transactions
  • Token undergoing hard fork, split, or reverse split events with issuance of new tokens
  • Quality and extent of development activity of the project
  • Halting of project operations
  • Significant disparities in the disclosure of project information, potentially misleading users and the exchange.

In regards to severe market conditions such as unexpected price fluctuations, Zoomex has implemented the following measures to protect our traders:

  • If the last traded price of any Derivatives contract reaches 50 times the minimum price precision (Tick Size)
  • Should the last traded price of any derivative contract drop below 20 times the minimum price precision (Tick Size), we reserve the right to delist the respective contract without prior notification.

The process of delisting on Zoomex Derivatives can take place via Manual Delisting or Automatic Delisting.

In the event of delisting, Zoomex will provide in advance notice to inform users of the details. An announcement will be posted in the Help Center to notify potentially affected parties. Users are encouraged to manage their positions and orders proactively.

To address possible extreme market risks, Zoomex retains the authority to delist any derivative contracts without prior notice, regardless of price level.

Protocol for Position and Order Management After Delisting:

  • Trading for the delisted pair will cease.
  • Any active or conditional orders for the delisted pair will be voided.

If a user opts to retain their positions until delisting, the system will automatically close and liquidate all open positions. A trading fee will be applied, and the system will reference the average index price from the last 30 minutes preceding the delisting time to determine the settlement price. Detailed calculations for the final settlement price will be provided in the corresponding blog article for the delisted pair.