5 factors considered of new coin list on exchange

For new coin list on exchange, it’s always believed as dark house operation of exchange. Beside the list vote, the matter in fact, most reliable centralized exchange always have solid team to evaluate list application from hundred projects.

After the application form from exchange website filled, normally, the list team will give a comprehensive analysis to select qualified project from 5 aspect below:

1. Whitepaper

The whitepaper from project still important on evaluation, the high quality whitepaper should including:

• What problem to resolve
• How resolve by the project
• competitors solution & differences
• Algorithm and logic
• Implement roadmap & timeline
• ICO distribution instructions

2. Team

Like all VC and investors, the creed of investment is people. The reliable people give strong belief to investors and customers, exchanges as well. Normally we will check key members of team:

• Public informations besides Linkedin, with 3 ex-job or experiences related with project
• Twitter, FB, Telegram account activiness, that help us a lot to pick up scam project indeed
• Reach the key members from all channel if possible, to discuss the process of project, make sure they still keep an eye for the project and progressed
• Tracking personnel changes of core team

3. Compliance

The compliance actually including two part: code compliance and financial compliance.

Code compliance

For open source project, to evaluate the code compliance means code review and progress tracking, this will help us know the long term project is still alive. Through the code updating rate also can give a general predict activeness. But it will be useless for those project with ERC20 or ERC233 token, normally they only upload code at project release, then nothing as more of them focused on business factor tokenized via blockchain.

Financial compliance

As most major countries are going to have clearly regulation for ICO, the financial compliance will be essential part for project. The regulation principle are differ from countries, we’d like have 3rd party independent financial and audit company to give structured evaluation from professional report.

4. Business application

For the business application, the most challenge is cross industry talent. Most blockchain development team comes from traditional IT industry, few of them experienced with entity economy. Oppositely, tradition industries people who deeply understand business model but do not know what blockchain can help.

The business application for ICO project will be a key factor of life and death, like Ripple and Ethereum. To evaluate business model and business application will be tough as different ICO project intent to solve problems from different industry. The highest payment employee will be cross industry talent in exchange, with deep understanding those project applied.

Another way of evaluation is consulting with 3rd party consultant company, with deep research project business logic and partnership report. That’s the trend, but not now.

Finally, to evaluate business application will be:

• partnership with commercial or facility
• Offline entity support
• Affection or extension for current business model

5.Community

The community also the big part for a project currently, if the business application can not evaluate on early stage, the community will be another key factor. we will check Official Twitter, FB, Medium, Telegram, Slack, Discord etc of online:

• Registration date
• How many twitts and news, update frequency
• Followers number
• Telegram, Slack, Discord activiness and follow number
• Medium articles update frequency and content

Also for offline:

• Global supporter meetup frequency
• Forum and seminar participate
• Presentation from project key members

Above 5 factors is the key factors currently I’d like to share for evaluate new coin list application. Hopes that helps those ICO project with fully compliance.