As a major cryptocurrency trading platform, Bybit has established a comprehensive set of rules to govern the digital assets listed on its exchange. These guidelines are designed to protect investors, ensure market integrity, and promote healthy development within the blockchain ecosystem. For any trader or project team operating in this space, understanding these rules is crucial for navigating the platform successfully and avoiding potential pitfalls.
Core Principles and Objectives
Bybit's Token Management Rules are built on a foundation of transparency, security, and fairness. The primary goal is to create a trustworthy environment where users can trade digital assets with confidence, knowing that the platform actively monitors and manages potential risks.
The framework establishes clear expectations for project teams regarding their conduct, communication, and compliance obligations. This structured approach helps maintain market stability while protecting participants from fraudulent activities and market manipulation.
Key Terminology Explained
Before diving deeper into the regulations, it's important to understand some key terms used throughout Bybit's documentation:
- Project Team: The entity or individuals responsible for developing, issuing, or operating a token project. This includes legal entities, development teams, natural persons, or representatives of decentralized community tokens.
- Token: A cryptographic digital proof of interest traded on the Bybit platform.
- ST Warning: "Special Treatment Warning" designation applied to trading pairs that present severe risks to users.
Information Disclosure Requirements
Transparency is a cornerstone of Bybit's token management approach. Project teams must maintain open communication with both the platform and their community through regular updates and immediate reporting of significant developments.
Regular Disclosure Obligations
Project teams are required to provide consistent updates on their official websites regarding various aspects of their projects. These disclosures should include progress on code updates, market activities, institutional investments, community development, and any other information that could materially impact the token's value or perception.
All shared information must be accurate, complete, and not misleading. Project teams should avoid omitting material facts that could influence investment decisions or market behavior.
Handling Extraordinary Events
When special incidents occur that could significantly impact a token's value, project teams must provide ad-hoc disclosures within 24 hours of the event. These include:
- Changes or loss of contact with core team members
- Major technical incidents
- Shifts in product or technical development direction
- Significant legal risks involving the core team
- Substantial negative news or public opinion issues
- Token unlocking or buyback events
The disclosure should explain the reasons for the occurrence, the process, basic facts, and results of the incident. This prompt communication helps maintain market integrity during potentially volatile situations.
Monitoring and Review Processes
Bybit maintains an active oversight role through regular inquiries and reviews of listed projects. This proactive approach helps identify potential issues before they significantly impact users.
Inquiry Procedures
The platform reserves the right to contact project teams through various channels including official email addresses, phone numbers, or instant messaging accounts like Telegram. Teams must respond to these inquiries within 24 hours and provide complete cooperation.
Bybit's inquiries may cover numerous aspects including:
- Fulfillment of whitepaper commitments
- Employment status and token holdings of core team members
- Progress in product and technical development
- Any factors that might significantly impact token price stability
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Review Mechanisms
The platform conducts both routine and special reviews to ensure compliance with its standards. Routine examinations focus on:
- Implementation of whitepaper commitments
- Code security assessments
- Changes in token holdings by project teams or major holders
- Fulfillment of token lock-up commitments
- Changes in core team composition
Special reviews may be triggered by user reports, media revelations, risks identified during routine reviews, or other circumstances Bybit deems necessary. In some cases, the platform may conduct on-site investigations to verify information directly.
Project teams that refuse to cooperate with these reviews face potential penalties, including trading restrictions or delisting.
Consequences for Non-Compliance
Bybit has established a graduated approach to handling violations, with measures ranging from warnings to complete delisting depending on the severity of the infraction.
Special Treatment Warnings
The ST tag serves as a warning mechanism for tokens demonstrating problematic market behavior or failing to meet certain performance metrics. Bybit evaluates tokens based on multiple indicators including:
- Bid-ask spread maintenance
- Order book depth near mid-price
- Multi-level order book sustainability
- Trading activity continuity
- Daily trading volume health
- Consistent trade execution
- Price volatility management
- Price alignment with other major exchanges
Tokens showing consistent underperformance across these metrics may receive an ST designation. This tag remains until the token demonstrates normal market behavior for ten consecutive days.
Market Manipulation prohibitions
Bybit strictly prohibits market abuse and manipulation practices including:
- Publishing false or misleading information
- Transactions creating false market activity appearances
- Quote, price, or trade manipulation
- Wash trading (simultaneous buying and selling to create artificial activity)
- Disclosure of material non-public information providing unfair advantages
- Any other actions considered market abuse
The platform continuously monitors for these activities and takes immediate action when potential manipulation is identified.
Trading Concealment and Delisting
In severe cases, Bybit may conceal trading pairs or suspend trading entirely. Grounds for these actions include:
- Fraud or deception by core team members
- Team dissolution without community consent
- Suspicious trading activities like "pump and dump" schemes
- Self-trading on the platform
- Serious reputational issues or inappropriate marketing
- Association with illegal activities
- Non-compliance with applicable laws or regulations
- Legal proceedings against the project team
- Unauthorized token unlocking
- Significant development delays
- Unaddressed security risks
- Security vulnerabilities in smart contract code
- Additional risks like hacking incidents or theft
- Failure to compensate users for losses due to security issues
- Regulatory risks including security classification concerns
Once concealed, tokens disappear from trading pages and Top Performers lists, though they may still appear in search results. Deposit functionality is suspended, though users can maintain existing positions.
Project teams must submit new listing applications to resume trading of concealed tokens, with Bybit retaining sole discretion over approval.
Liquidation and Termination Procedures
For concealed tokens, Bybit may initiate liquidation processes on a case-by-case basis. The platform dominates this process, which begins from the date of trading suspension. Once liquidation completes, trading terminates permanently, and the token is delisted from the exchange.
Frequently Asked Questions
What triggers a Special Treatment warning on Bybit?
Tokens receive ST warnings when they consistently underperform across multiple metrics including liquidity, market capitalization, bid-ask spreads, order book depth, trading activity, and price stability. The platform also considers alignment with prices on other major exchanges and any liquidity factors impacting market integrity.
How can a project team remove an ST tag from their token?
The ST tag is removed when a token demonstrates consistent normal market behavior across all evaluation criteria for ten consecutive days. Project teams should focus on maintaining healthy trading patterns, sufficient liquidity, and stable price action relative to other markets.
What happens when a trading pair is concealed on Bybit?
When concealed, trading pairs disappear from the trading page and Top Performers list, though they may remain searchable. deposits are suspended, but users can maintain existing positions. Project teams must submit new listing applications to resume trading, with no guarantee of approval.
What constitutes market manipulation under Bybit's rules?
Prohibited activities include publishing false information, creating false market activity appearances, manipulating quotes or prices, wash trading, disclosing material non-public information for unfair advantage, and any other actions deemed market abuse. The platform continuously monitors for these practices.
How quickly must project teams disclose significant incidents?
Project teams must disclose special incidents within 24 hours of occurrence and notify Bybit in writing. These disclosures should include reasons for the occurrence, the process, basic facts, and results of the incident.
What happens during Bybit's on-site investigations?
During on-site investigations, Bybit examines whitepaper commitment fulfillment, core team member employment and token holdings, product and technical development progress, and any factors potentially impacting token price fluctuations. Non-cooperation may result in penalties.
Final Considerations
Bybit's Token Management Rules represent a comprehensive framework designed to protect all market participants while maintaining platform integrity. The rules emphasize transparency through regular disclosures, proactive monitoring through inquiries and reviews, and appropriate enforcement measures for non-compliance.
The platform retains significant discretion in interpreting and applying these rules, including the right to amend them as market conditions evolve. Project teams should maintain open communication channels with Bybit and promptly address any concerns raised through the review process.
For traders, understanding these rules provides insight into how Bybit identifies and manages risk across different digital assets. This knowledge can inform investment decisions and risk management strategies when engaging with various tokens on the platform.
By maintaining these standards, Bybit aims to foster a secure trading environment that supports the healthy growth of the blockchain industry while protecting the interests of all participants.