Crypto exchange BitMax recommended ICO project Lition to “postpone $ 1 million to maintain the price”
ICO project Lition, which is developing a blockchain with the ability to delete data and completed raising funds last week, is unlikely to be able to release its token on the Singapore exchange BitMax, which is currently the leader in terms of declared trading volume..
Negotiations between Lition and BitMax stalled after the latter agreed to list the token on its own terms, writes Trustnodes, citing a statement from the alleged ICO consultant..
“Technically, listing is free if you purchase services such as market making. Nevertheless, the requested commission turned out to be excessively high (it is assumed that it was $ 1 million for the market making budget for the Lition project, whose capitalization is $ 5 million), he said. – It was on Thursday, the day of the ICO. The Lition team was baffled by the requested amount and did not enter into an agreement. BitMax then released the information, stating that it is not currently in talks with Lition and wished them luck. “.
BitMax CEO George Chao did not deny the whistleblower’s statements and said that he and Lition “did not agree on the strategy of listing and doing business.” “I suggested that Lition set aside $ 1 million in market making capital to support the price in the first phase. Lition did not support my strategy, so the deal fell through. No offense, “he wrote.
In February, information appeared that the KuCoin and OKEx exchanges could be engaged in imposing additional services on projects wishing to be listed on trading platforms..