Poloniex which has been in news recently due to its efforts to slim down trading pairs in their exchange has come up again with two more news and they are not the positive ones.
- Poloniex is going to delist 3 more assets on October 10 named AMP(synereo), EXP(Expanse), GNO(Gnosis) . while trading in these pairs will be closing on October 10, 2018, these assets will be archived on November 09, 2018. Customers can trade until October 10, 2018, and then withdraw assets but before November 09, 2018, after which they will be not available to withdraw for customers.
Poloniex is delisting assets third time within last some weeks and a second time within 8 days, This is beyond simple understanding that why delisting is happening every now and that while this could have happened in one go but is coming like tidal waves of delisting.
30 days rule for withdrawing else unavailability to withdraw almost sound like forfeiture of assets. if poloniex needs to delist assets it should at least provide 90 days window for withdrawal instead of 30 days as some people take vacations more than that.
2. Poloniex is going to Remove margin trading for US-based customers.
Poloniex has posted below details on their blog
“By the end of the year, we’re taking steps to remove our margin and lending products for US-based customers. These changes are part of our ongoing commitment to ensure that Poloniex complies with regulatory requirements in every jurisdiction. In doing so, we’re also making every effort to ensure a smooth transition for customers who may be affected. We will provide more communication in the coming weeks about the final date but it will be by the end of the year and encourage customers to take steps to unwind margin positions at their convenience.
Existing loans will remain open and continue to fund positions and earn interest for their previously specified duration.”
They are going to remove margin based trading and lending for US-based customers, while the date is yet to be announced and will be finalized in upcoming weeks but most probably it will be last month of December, A long window is welcomed in these types of cases so that customers may not be affected otherwise.
Let’s wait and see what are final dates being announced by Poloniex and regarding delisting, let’s hope that its the last for this year at least.