Chapter I: General Provisions

Article 1: Objectives

The Bybit Token Management Rules (the “Rules”) are developed in order to promote the sound growth of the blockchain industry, create a healthy environment for digital asset, protect the rights and interests of traders, and regulate the management of Tokens.

 

Article 2: Definitions

Unless otherwise expressly provided, the following terms in these Rules shall have the definitions as specified:

 

(1) “Bybit” shall refer to the Bybit cryptocurrency platform.

 

(2) “Project Team” shall refer to any entity responsible for the issuance, development or operation of the Token Projects, i.e., the legal entity, team, natural person or beneficial owner of the Token Project listed on Bybit, or the representative willing to take responsibility for a community-based decentralized Token without a recognized Project Team.

 

(3) “Token” or “Project” shall refer to the cryptographic digital proof of interest traded on Bybit.

 

(4) “ST Warning” shall refer to the “Special Treatment Warning''. Trading pairs with ST tags will be deemed to have severe risks to the users.

 

 

 

 

Chapter II: Information Disclosure

Article 3: Information Disclosure Obligations

The Project Teams shall disclose all information that may have a material impact on the Token or the Project Team in a timely and faithful manner, and ensure that all the information disclosed are true, accurate and complete, not deceptive or misleading, and does not omit any material facts or considerations.

 

Article 4: Forms of Information Disclosure

From the date of publication of the Rules, the Project Team shall make regular and ad-hoc disclosures available on its official website.

 

The information disclosed shall include, but not be limited to, the progress of code updates, market activities, institutional investment, community development and any other important aspects of information.

 

Article 5: Ad-Hoc Disclosures

An ad-hoc disclosure refers to the disclosure that shall be made by a Project Team in addition to the regular disclosure in the event of any special incidents. All such incidents shall be disclosed and Bybit shall be notified in writing within 24 hours of such occurrence.

 

The special incidents herein provided include, but are not limited to, change or loss of contact of core team members, major technical incidents, changes in the direction of product and technical development, major legal risks involving the core team, significant negative news or public opinions, and any other incidents that may have a significant impact on or could reasonably be expected to cause the fluctuations on the price of the Token (including the unlocking and the buyback of a locked Token).

 

The content of an ad-hoc disclosure shall include, but not be limited to, the reasons for the occurrence, the process, the basic facts, and the results of the incident.

 

Article 6: Exceptions to Information Disclosure

If the information to be disclosed by the Project Team involves any state secrets or if the disclosure may have conflict with public interests, such information may be withheld with Bybit's consent.

 

 

 

 

Chapter III: Inquiry and Review

Article 7: Inquiries and Responses

Bybit shall have the right to inquire to the Project Team about the Project from time to time. The Project Team shall actively cooperate with and respond to the inquiries within 24 hours.

 

Article 8: Forms of Inquires

Bybit may make an inquiry to a Project Team by contacting:

(1) The official email address provided by the Project Team,

(2) The phone number provided by the Project Team, or

(3) The instant messaging accounts provided by the Project Team, such as Telegram.

 

Article 9: Content of Inquires

The content of an inquiry may include, but not be limited to, the fulfillment of the commitments made in the whitepaper or on the official website, the employment and Token holdings of core team members, the progress of the product and technical development, and other factors that may have a significant impact on or could reasonably be expected to cause the fluctuations on the price of the Token (including the unlocking and the buyback of a locked Token).

 

Article 10: Results of Inquiries

Bybit may, at its sole discretion, determine whether a Project Team has violated the Rules based on the factors such as whether the Project Team has cooperated with the inquiries, the level of cooperation, and the content of the responses. Bybit may take relevant actions to deal with the violations in accordance with the procedures set forth in Chapter IV.

 

The actions may be notified to the Project Team or the users through the means specified in Article 8 or through an announcement.

 

Article 11: Routine Reviews

Bybit shall have the right to conduct regular or ad-hoc reviews of the Project and the Project Team, for the following circumstances:

 

(1) Significant aspects of whitepaper commitments;

 

(2) Security reviews of the code;

 

(3) Other factors that may have impact on or could reasonably be expected to cause the fluctuations on the price of the Token, such as changes of positions held by the Project Team or other major token holders, and the fulfillment of the commitment to lock the Token;

 

(4) Changes in core team members, and

 

(5) Any other aspects considered necessary to be reviewed at Bybit’s discretion.

 

Article 12: Special Reviews

Bybit may initiate a special review if:

 

(1) The Project Team is reported by any users or any news media to be involved in the circumstances specified in Article 11, and the Project Team has not made any response to such report or revelation, or the response is not sufficient to disprove such involvement of the circumstances specified thereof;

 

(2) Significant risk is identified in a routine review, or

 

(3) Any other circumstances that Bybit may deem necessary to initiate a special review at its discretion.

 

Article 13: On-Site Investigations

Bybit may visit and supervise the Project Team and conduct on-site investigations on a regular or ad-hoc basis according to actual needs.

 

The Project Team shall actively cooperate with Bybit’s on-site investigation. The content of the investigation may include, but not be limited to, the fulfillment of the commitments made in the whitepaper or on the official website, the employment and Token holding positions of the core team members, the progress of the product and technical development, and any other factors that may have impact on or could reasonably be expected to cause an impact on the fluctuations on the price of the Token (including the unlocking and the buyback of a locked Token).

 

If the Project Team refuses to, intentionally obstructs or otherwise fails to cooperate with Bybit's investigation, Bybit may decide to take relevant actions against the Project team in accordance with the Rules at its sole discretion.

 

Article 14: Cooperative Obligations of the Project Team

The Project Team is obliged to actively cooperate with Bybit for routine and special reviews. The Project Team shall also actively respond to or rectify the related issues reported from the users, the inquiries raised from the news media, and the risk notices addressed from relevant regulatory authorities.

 

Bybit may take relevant actions against the Project Team in accordance with the Rules in the event that the Project Team fails to fulfill the cooperative obligations herein.

 

Such actions may be notified through the means specified in Article 8 or through an announcement.

 

 

 

 

Chapter IV: Handling of Violations

Article 15: Implementation of ST Warnings

The Project Team must ensure that neither the Project Team itself, its affiliates, nor any of its executives, employees or advisors will engage in any conduct that regulatory or judicial authorities may reasonably deem to constitute market abuse or manipulation.

 

Prohibited activities include, but are not limited to:

(i) Publishing false or misleading information about the Token or Project.

(ii) Engaging in transactions, or a series of transactions, designed to create a false or misleading appearance of market activity.

(iii) Manipulating quotes, prices or trades to fabricate demand for the Token.

(iv) Engaging in wash trading.

(v) Disclosing material non-public (i.e., insider) information in a manner that provides certain market participants with an unfair advantage.

(vi) Undertaking any other actions that may be considered market abuse or manipulation.

 

Bybit will continuously monitor Project Teams and their execution of market-making activities. If any potential market manipulation or abuse is identified, Bybit reserves the right to take immediate action, including, but not limited to, applying an ST tag, restricting trading, suspending the relevant trading pair(s) or terminating the partnership.

 

15.1 ST Tag Application and Token Evaluation Criteria

Bybit regularly evaluates all listed tokens based on liquidity, circulating market capitalization and other relevant metrics. If a Token consistently underperforms across multiple indicators, Bybit reserves the right to apply an ST tag. The criteria considered include, but are not limited to:

1. Maintaining reasonable and tight bid-ask spreads. 

2. Providing sufficient order book depth near the mid-price.

3. Sustaining multi-level order books on both the buy and sell sides.

4. Ensuring continuous and stable trading activity.

5. Maintaining healthy daily trading volume.

6. Demonstrating consistent trade execution across 15-minute, 30-minute or other designated intervals.

7. Avoiding prolonged or extreme price volatility on the platform.

8. Maintaining price alignment with major exchanges and avoiding abnormal price deviations.

9. Other liquidity-related factors that may impact market integrity, user experience or price discovery, as reasonably determined by Bybit.

 

Bybit will make reasonable efforts to provide prior notice of the ST tag application to the Project Team via email or other appropriate means to facilitate potential improvements. However, such notice is not guaranteed.

 

15.2 Removal of ST Tags

If a Token demonstrates consistent and normal market behavior across the above criteria for ten (10) consecutive days, the ST tag will be removed.

 

Notes:

— Bybit reserves the right to apply an ST tag in response to sudden liquidity disruptions or other urgent circumstances.

— Bybit reserves the right to the final interpretation of this policy.

 

Article 16: Trading Concealment, Suspension and Token Delisting

Bybit shall have the right to conceal specific trading pairs or suspend trading in circumstances including, but not limited to, the following:

1. Any core member of the Project Team is found to have committed significant fraud or deception, including, but not limited to, misappropriation of raised Tokens, disappearance of the development team, ceasing support for the Project's technology, intentional concealment of material facts, or dissemination or creation of materially fraudulent, false or misleading information.

2. The Project's development team is dissolved or any core team member resigns without community consent, resulting in the inability to continue development.

3. The Project Team is suspected of engaging in erratic or suspicious trading activities, including, but not limited to, "pump and dump" schemes or other manipulative practices that distort market activity.

4. The Project or Project Team engages in self-trading on Bybit, which is strictly prohibited. Confirmed instances shall be subject to immediate remedial actions, including, but not limited to, trading suspension, imposition of penalties or delisting of the Token.

5. The Project Team is involved in serious reputational issues or engages in inappropriate marketing or communications, including, but not limited to, pyramid schemes or demonstrably false or misleading advertising.

6. The Project or Project Team is associated with illegal activities or other conduct deemed objectionable by Bybit.

7. The Project or Project Team fails to comply with applicable laws or regulations.

8. The Project Team is subject to any threatened, pending or ongoing legal proceedings or claims (whether civil, criminal or administrative; formal or informal; direct or indirect).

9. The Project Team unlocks Tokens in breach of commitments made in the whitepaper or in other forms.

10.  The Project's development significantly lags behind the timeline set out in the whitepaper.

11.  Security risks arise during the Project's transition to mainnet and are not appropriately addressed within 30 days.

12.  Security vulnerabilities such as overflow issues or additional issuance exist in the smart contract code and are not appropriately addressed within 30 days.

13.  The Project is subject to additional risks and hazards, including, but not limited to, hacking incidents, theft of Tokens, concealment of additional issuance or double-spending attacks.

14.  The Project Team causes significant losses to Bybit or its users due to mainnet or smart contract security issues and fails to reimburse Bybit and/or compensate affected users.

15.  The Token is a private token, does not support offline signatures, or uses non-open-source node source code.

16.  The Token or Project Team poses significant regulatory risks, including, but not limited to, cases where the Token is deemed a "security" under the laws of a given jurisdiction, and Bybit is unable and/or unwilling to restrict users in that jurisdiction from trading and/or holding the Token.

17.  Any other circumstances that Bybit, in its sole discretion, deems sufficient to justify the concealment, suspension or delisting of the Token.

 

Once the trading pairs of a Token are concealed, Bybit will suspend deposits of the Token. However, users may continue to hold existing positions. The concealed Token may still appear in search results, but its trading pairs will no longer be visible on the trading page or in the Top Performers list.

 

The decision to conceal trading pairs is final and irrevocable. Should the Project Team wish to resume trading of such a Token, it must submit a new application for the token listing in accordance with Bybit's token listing requirements and procedures. Bybit shall have sole discretion to determine whether such requirements have been satisfied.

 

Article 17: Liquidation

In the case of the concealment of the trading pair of the Token, Bybit may, at its sole discretion, determine whether it is appropriate to commence the liquidation process for such Token on a case-by-case basis. The liquidation of assets on the platform will be dominated by Bybit. In the case of suspension of the Token trading, the liquidation process shall be initiated from the date of such suspension of trading.

 

Article 18: Termination of Trading

As soon as the liquidation process is completed, the trading of such liquidated Token will be terminated and the Token will be delisted.

 

The termination of trading will be notified to the Project Team or the users through the means specified in Article 8 or through an announcement on Bybit.

 

Article 19: Liability

The Project Team shall be liable for any losses caused to Bybit, the users or any other third parties resulting from or by reason of any breach of the Rules.

 

 

 

 

Chapter V: Supplementary Provisions

Article 20

In the event of any discrepancy between the Rules and any other rules or announcements previously published by Bybit, this Rules shall prevail.

 

Article 21

In the event of any discrepancy between the English language version of the Rules and any translation of the Rules in a foreign language, the respective English version shall prevail.

 

Article 22

Bybit reserves the right to amend the Rules and the right of final interpretation.

 

Article 23

The Rules shall take effect from the date of publication.

 

 

 

Bybit

Jun 6, 2025

 

Legal Disclaimer for Public Posting:

Disclaimer: The Token Management Rules are designed to uphold trading fairness, user protection, and platform integrity. Bybit reserves full discretion in determining whether any Token or Project Team meets the standards of orderly trading or poses material risks to the marketplace. The criteria listed herein are illustrative and non-binding. Bybit may take enforcement actions beyond those listed, where warranted by market behavior, regulatory concerns, or other relevant considerations. Nothing in this policy shall be construed as a promise or obligation to list, maintain, or reinstate any Token on the platform.