BitOasis will be delisting FTX Token (FTT) from our platform on 23 November 2022, 01:00 pm UTC (05:00 pm GST)
Trading pairs affected:
- FTT-AED
- FTT-SAR
- FTT-USD
- FTT-USDT
Why are we making this decision?
Due to this week’s events surrounding FTT and its issuer FTX, the token no longer fits our following listing criteria:
- Mission & values: The token and its issuer, FTX, no longer align with BitOasis’ vision and values of building a new, more transparent and fair financial system for the future
- Utility & use case: The token no longer provides investors with practical utility. As an exchange token, holding FTT enabled investors to enjoy lower trading fees and other perks on the FTX exchange. Given the uncertainty regarding FTX’s future, and the unpredictability of current and future trading experience and usability of the exchange, this utility is no longer guaranteed.
- Issuing team: On 11 November 2022, more than 130 FTX companies filed for bankruptcy in the United States. While the process will allow for the FTX Group to reorganise its operations, we do not believe that FTX will be able to effectively and reliably maintain FTT as an asset for the foreseeable future.
Should the above outlined conditions change, we may choose to re-list FTT in the future, as and when we see meaningful change in the ability of FTX and FTT to meet our criteria.
We continuously monitor all listed assets, reviewing their compliance with BitOasis’ listing criteria on an ongoing basis, to make sure that we make only safe, secure, trusted and useful assets available to you. We take proactive action to safeguard our customers and optimize trading experience on our platform.
What happens next?
- Deposits for FTT will close on 13 November 2022 at 13:00 pm UTC (05:00 pm GST)
- Trading on the above-listed trading pairs will cease on 16 November 2022 at 12:00 pm UTC (04:00 pm GST)
- Withdrawals for FTT will remain open until 23 November 2022 at 12:00 pm UTC (04:00 pm GST)
What do you need to do?
- Please cancel all your open orders before 16 November 12:00 pm UTC (04:00 pm GST)
- Please withdraw your remaining FTT assets as soon as possible. It will not be possible to withdraw your tokens starting 23 November 2022 at 12:00 pm UTC (04:00 pm GST)
Please note:
- Please note that all open orders will be cancelled after 16 November 12:00 pm UTC (04:00 pm GST)
- All remaining positions after the withdrawal deadline will be liquidated at the prevailing market price and the equivalent fiat amount will be credited to your BitOasis account
- You will receive continuous communication during the process
We thank you for your continued trust in our platform while we continue to build a safe crypto ecosystem for our community and our region.
Risk warning: Cryptocurrency trading is subject to high market volatility. We urge you to do your own research and trade cautiously. BitOasis will not be liable for any losses.
