South Korea's third largest cryptocurrency exchange, Coinone, has released its official listing criteria.

The South Korean cryptocurrency exchange Coinone has released listing standards, detailing the requirements and content needed for listing.

Coinone Exchange is one of the few exchanges in Korea that has obtained Information Security Management System (ISMS) certification, backed by early support from Kakao, and is currently the third largest exchange in Korea.

Just last week, Coinone partnered with cybersecurity audit companies CertiK and Xangle to provide its users with enhanced security and transparency.

According to the announcement on August 7th, CertiK and Xangle will provide public disclosure information and smart contract audit information respectively.

The disclosure information includes details about new tokens, changes in project business models, token governance, and volatility in stock investments; while the audit information serves as preventive measures against code security vulnerabilities and project-level code reviews.

Furthermore, Coinone issued another announcement this week outlining the listing standards for the exchange:

Projects must meet nine standards, including requirements for a "sound business model," a "medium to long-term strategy," and a "clear vision." They also need a solid "token distribution plan" and "transparent governance structure." The exchange will also evaluate the "marketing plan of potential candidates" and "communication with investors," with emphasis on the importance of both "online" and "offline interactions."

Coinone will review the potential market size of project parties and check if the growth of the project will be constrained. Tokens must be usable, with a balance of supply and expected consumption, and they must have a strong leadership team. After listing, Coinone will review the adherence to the token roadmap and its benchmarks.

Coinone Exchange will also hold projects accountable for technical flaws, such as blockchain failures and inadequate product development. They will also focus on the lack of operational continuity, especially in the composition of the management team. The spokesperson mentioned:

We will first issue warnings to certain non-compliant projects, and if no improvements are seen, they will be delisted from the exchange.

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