Dear Coinfinit Community,
We would first like to review on the problems occurred during the 3 previous listings.
A few number of members purchased LFC, GSE, and PXL in large amount at a price remarkably higher than the market price on each listing day, and it seemed that they took advantage of the exchange system of allowing users to enter at the market price even if the current market price is higher than the buy order.
For example, even if a coin gets listed at 2 KRW, if a user makes a buy order at 100 KRW, the actual trade is made between 2 KRW and 100 KRW in order.
Using the weakness of the trading system algorithm, a few number of users could profit by buying the coins at a low price.
QNC is created to encourage a healthy cryptocurrency culture and grow along with the investors. We are making many attempts and changes to meet our goals.
To support the purpose of the exchange token and allow members to make investments in a safe environment, we plan to implement the QNC upper and lower price limit policy. Please read the below for more details about the policy.
[QNC Upper and Lower Price Limit Implementation Guide]
◎ Initial QNC Lower Price Limit : 1 KRW
◎ Initial QNC Upper Price Limit : 20 KRW
◎ Implementation Date : After QNC listing on Friday, March 8, 2019
◎ Upper and Lower Price Limit Determination Date : 00:00 AM ~ 11:59:59 PM, Daily
◎ Upper and Lower Price Limit Determination Method : Upper and lower price limit shall be determined by the standard of 30% of KRW market’s QNC closing price during the period written above.
◎ Server Inspection Period for the Application of Upper and Lower Price Limit : Scheduled for 00:00 AM ~ 00:15 AM, Daily (Time period may change)
◎ Date of Upper and Lower Price Limit Application : 00:15 AM, daily (Time may change)
* All trades shall be suspended temporarily during the QNC server inspection, and all buy, sell, and pending orders beyond the upper and lower price limit range shall be reset.
* You may not place buy and sell orders beyond the upper and lower price limit range once the upper and lower price limit have been applied.
This policy shall be enforced temporarily as it is a policy implemented to protect the assets of QNC participants and secure safe trades. There may be changes or deactivation depending on the internal exchange policies and market situation.
We would like to thank all members for using the Coinfinit exchange, and we promise to try our utmost to protect your assets and secure safe trading.
Coinfinit – Unlimited Possibilities
Dear Coinfinit Community,