Hello everyone! We have been getting tons of questions regarding our listing procedure. And in the spirit of transparency and answering the questions, we thought we could publish a Medium story about it.

Let’s be honest here. There are only a few exchanges that have a decent listing procedure and even few that have published theirs in minute detail.

The most popular listing procedure these days seems to be:

Send us a donation and we will get back to you (maybe… maybe not… maybe screw you); We will only list you if we think that you’ll add value to the crypto sphere, or we will just list everything. Have fun!

The “We will list everything” exchanges are, of course, great. That is, if you just want your asset to be listed anywhere and do not care about the (lack of) quality or worthiness of your asset in the best case, or that your asset is used for illicit activities in the worst case.

Hence the fact EUCX is taking a different approach to the listing procedure.

We want everyone to know exactly how an asset is listed at EUCX, so worthy and honorable blockchain projects can decide if they want to be associated with a high quality exchange or not.

On top of that, we want to give blockchain startups an actual chance to get listed on a high-quality exchange, but more on that later.

The listing procedure can be divided in 4 steps or phases (call it what you want):

On-boarding Client Due Diligence (“CDD”) / Risk Assessment Legal Paperwork (Contracts, etc.) Implementation of the Asset

On-boarding

This will always be initiated from the team working on the asset.

EUCX WILL NEVER INITIATE THE ON-BOARDING THROUGH ONLINE MEANS! UNLESS YOU HEAR OTHERWISE FROM US IN A FACE-TO-FACE CONVERSATION, ANYONE ON THE INTERNET SAYING THEY DO IS A SCAMMER!

We will request the team to deliver some information about the project. Nothing too fancy:

Whitepaper or Business Plan; Website of the project (containing contact information, team information, a whitepaper and other basic information); Public code repository (if applicable); Company contact information: full legal name, address, email, telephone, company registration information (chamber of commerce, VAT-number, etc.); Token contract address (if applicable), including a link to an explorer for the applicable blockchain; KYC information for the UBO (Ultimate Beneficial Owner) of the company, as well as all the legal representatives (the board or executives). This information has to reflect your company’s official registration information.

Please remember: if we cannot assess who you are you say you are, or if the publicly available information does not show the world who you are you say you are, we cannot list your asset.

Customer Due Diligence (“CDD”) / Risk Assessment

One can see this as the “filtering” phase. If your project passes this phase, you’re almost set.

During this phase our main concern is that all involved parties comply to regulatory and legal requirements. We will ask the team to give us some insight into their company’s financial information (if there is none, i.e. the company has been newly formed, then that’s okay too!) and we will do a more in-depth review of the information we’ve received during the on-boarding phase.

If we feel that, during this phase, we need to start a further background check or investigation into your provided information, we will first ask for your permission. If you agree, great. If you don’t agree, great — but we’ll stop the listing procedure right there and then.

We at EUCX are transparent, open and honest about what we do and who we are. We ask the same from our (to-be) listed assets.

Legal Paperwork

Congratulations! Your asset has been accepted and we want to finalize the listing. In this phase we’ll agree on the terms and conditions of the listing. Things like: the time window, what we can expect from you, what you can expect from us, listing fees, etc. If we both agree on the terms and conditions, we’ll start implementing your asset into our systems.

Implementation

This last phase is all about technological side of listing the asset. We will setup blockchain nodes that can connect to your smart contract or blockchain on our servers in a CO2 neutral data center. This phase requires that we work together. We will ask you to provide us with documentation, a SDK/API or instructions on how to connect to your (custom) blockchain. In the case of standard tokens (such as ERC20, etc.), we require less help.

Listing Fees

Simple: € 20.000 (plus applicable VAT or sales tax)

This fee is only paid AFTER signing the listing agreement.

WE WILL NOT EVER ASK FOR UPFRONT LISTING FEES AND WE DO NOT WORK TOGETHER WITH THIRD PARTIES THAT OFFER SO-CALLED DISCOUNTS! ANYONE CLAIMING TO PROCESS A LISTING APPLICATION ON OUR BEHALF IS SCAMMING YOU.

Again very simple: we believe the listing fee is a coverage for the work that we have put in and are about to put into your listing. We need to get legal and technical staff to do work. And while this does cost us, we feel that listing fees any higher than these are dishonest.

On top of that, we feel that startups can’t get anywhere with listing fees as high as our competition. Startups aren’t big companies with tons of funding. And if a startup does have funding, it’s (usually) not enough to warrant a listing fee of 100+ BTC.

Well… That wasn’t so hard now was it? We hope that we have provided enough information.