Dear BW users:
In order to provide users and project parties with better quality services and promote the circulation of high-quality digital assets, BW has provided some users and project parties with fee-free market-making accounts. However, in the process of service, we found that some users and project parties did not cherish this project service with illiquid and less active tokens, and unfettered behavior, all those failed to live up to the platform. At the same time, we also received a large number of user complaints, which seriously affected platform reputation.
In order to standardize services and provide users with a good investment environment, BW will regulate the use of fee-free accounts from January 1, 2020. The specific adjustments are as follows:
From January 1, 2020, the average daily transaction amount of the project parties during the fee-free period is ≤80,000 USDT. The first day will be warned by email. If the next day is still not adjusted, BW will directly hide the trading pair for a week and release announcement on the official website: due to poor liquidity, the treatment of hiding for a week is made, and those who do not adjust afterwards will be given a permanent hidden punishment directly.
- Qualifications for obtaining fee-free account
If the project party meets the requirement of more than 80,000 USDT, BW will continue to give fee-free accounts for 1 week starting from January 1, 2020. During the period of deep liquidity assessment, the project parties must meet the standards to continue free of charge service.
The criteria are as follows:
- the gap between 1st sell order price and 1st buy order price is not allowed to exceed 10%.
- Buy order and sell order, 5% of the total swing from the top of the plate, not less than 1000 USDT.
- The number of levels of sell orders and buy orders shall not be lower than 50 levels respectively.
Projects that meet the liquidity requirements must bring 500+ users who have completed real-name authentication each month. They can use the invitation link of the market-making account, and the system will automatically review the number of real-name authentications in the account every 30 days.
Those who fail any of above two assessments will be canceled directly about free-fee account service.
- Special cases
If the project party cannot achieve the above 3 points due to special reasons, they can choose to contact the BW business staff to explain the situation and discuss the solution.
Thank you for your support of BW.io. The adjustment of the strategy is only to better standardize the secondary market. Hope everyone will cooperate actively.
BW, Bit World, Better World.
BW.com Global Operations Team
December 25, 2019