As part of the Poloniex team’s continuous effort to improve the performance of the exchange and to better serve our customers, we have to delist assets from time to time.
Our goal for all delistings is to make this process as painless as possible for customers, which is why we:
Provide you with seven days advance notice before removing a market
Give holders of the impacted assets 30 days to withdraw funds from delisted assets
Remind you with multiple forms of communication during the period leading up to the deadline
In the rare event that wallet availability is interrupted, we may extend the deadline and contact holders of impacted assets via email. There may also be times when customers are unable to withdraw delisted assets for reasons outside of Poloniex’s control, such as when a network is no longer live. In these situations, we will secure the delisted funds in cold storage with the potential to online the funds and allow customers to withdraw should the network become operational again. We will handle these scenarios, which we recognize can be frustrating for customers, case by case.
Once the withdrawal deadline for a particular asset has been reached, withdrawals will be disabled and the asset will be fully decommissioned. From this point forward, we will be unable to process withdrawals of impacted assets. It is imperative that customers withdraw delisted tokens by the withdrawal deadline.
Why does the Poloniex team delist assets?
We delist assets as part of our mission to provide customers with the most innovative projects that fuel the industry and to ensure the assets meet the high standards customers deserve, which is why we created the Circle Asset Framework.
The Circle Asset Framework is a tool for prioritizing new crypto asset listings across our various products. We apply this framework to assess projects across a few key categories - fundamentals, technology, people, business model, and market dynamics. In addition, we also consider other factors such as new guidance from regulators.
Why did you remove BitcoinDark (BTCD)?
Developers of BitcoinDark (BTCD) began to focus fully on the Komodo (KMD) project in early 2017 and a year-long swap of BTCD for KMD occurred that same year, ending in January 2018. The BTCD chain is no longer usable nor reliable. Funds are not currently transferrable over the BTCD chain, and therefore when we disable support for BTCD markets on Poloniex, we will need to secure BTCD in cold storage. If the network becomes operational again in the future within a reasonable period, we are more than happy to re-assess and explore ways to re-enable transfers in a way that will allow for safe transfers.
Has Poloniex delisted assets before and what’s the status?
We have concluded the process for the first set of delistings from August 2, 2018. First, we notified customers via blog post, Twitter, email, and in-product on July 26 that we were going to disable trading of certain assets on August 2. We then proceeded to contact holders of impacted assets via email on August 1, August 8, and August 30. During this period, the markets for delisted assets were disabled but customers were able to withdraw funds. September 2 was the withdrawal deadline. As discussed above, it may be possible that certain assets qualified for a withdrawal deadline extension. If you hold a delisted asset that qualified for an extension, you will have received an email from us notifying you of the new withdrawal deadline. If you did not receive an email, the withdrawal deadline has passed.