Trigger Events for Special Treatment (ST) Label

This supplementary explanation details the conditions under which tokens listed on Bybit will be designated with a Special Treatment (ST) label, as outlined in Chapter 4 in Bybit Token Management Rules.

 

The token's compliance with the requirements is monitored daily. If any of the following conditions are met, the token is marked as non-compliant for that day. Tokens that hold an ST label for 60 days or more will be delisted.

 

 

1. Under normal circumstances:

The project team's token has been non-compliant for 15 days or more in the past 30 days.

• Within 30 days of listing:

  • The average daily single-sided liquidity* is less than 5,000 USDT.

  • The average daily difference between the last traded price and bid1/ask1 is more than 0.5%.

  • The daily taker volume is less than 30,000 USDT.

  • The daily trading frequency is less than 20%.

  • The average daily price discrepancy with other CEXs is more than 15%

  • The lowest daily transaction price is lower than the opening price.

• More than 30 days after listing

  • The average daily single-sided liquidity* within 2% of the last traded price is less than 1,000 USDT.

  • The average daily difference between the last traded price and bid1/ask1 is more than 1%.

  • Daily taker volume is less than 3,000 USDT.

  • The daily trading frequency is less than 10%.

  • The average daily price discrepancy with other CEXs is more than 15%

 

 

2. Under extreme circumstances:

The project team's token has been non-compliant for eight (8) consecutive days.

• The average daily single-sided* liquidity within 2% of the last traded price is less than 300 USDT.

• The average daily difference between the last traded price and bid1/ask1 is more than 1%.

• Daily taker volume is less than 1,000 USDT.

• The daily trading frequency is less than 5%.

• The average price discrepancy per minute with other CEXs is more than 15%

 

 

 

 

Rights and Procedures

1. Please note that in addition to the specified requirements and implementation procedures, Bybit reserves the right to label the project party's assets with an ST label, suspend their display, or delist them in emergency situations, as outlined under Article 16 of the Bybit Token Management Rules V1.0.

2. Advance announcements will typically precede such actions, with execution following the timing provided in specific announcements.

 

 

 

 

Removal of Special Treatment (ST) Label

The ST label will be removed if the project team's token fulfills all requirements listed under normal circumstances for 8 consecutive days.

 

 

 

Additional Notes

1. The new standards apply only to USDT-denominated trading pairs. Non-USDT trading pairs of the same token will follow the rules applied to the token's USDT trading pair for ST labeling and delisting.

2. The new standards do not apply to fiat-crypto trading pairs.

 

 

 

 

Appendix

Bybit Token Management Rules