Upbit, a prominent cryptocurrency exchange, has announced the listing of TAIKO on its KRW, BTC, and USDT markets. This new addition will be available for trading alongside Ethereum and support multi-chain deposits and withdrawals, aiming to offer increased accessibility and flexibility for cryptocurrency enthusiasts.
What is the TAIKO Listing Process?
TAIKO is set to be launched soon, although its price is currently undetermined. Upbit has advised users to verify network compatibility before initiating deposits, ensuring smooth transaction processes. Only specified networks, TAIKO-Taiko and TAIKO-Ethereum, will be supported, and transactions through unsupported networks will not be processed.
The exchange warns that transactions sent via unsupported networks may face a lengthy review process for potential refunds, underlining the importance of users following the specified guidelines carefully.
How Will Upbit Manage Market Volatility?
To effectively manage market volatility, Upbit will implement trading limits once support begins. Buy orders will experience a temporary 5-minute restriction, and sell orders priced significantly lower than the reference price will also face a 5-minute limit. Additionally, market and pending orders will be restricted for one hour after trading commences.
Key Details for Upbit Users
- Verify network compatibility before deposits.
- Use specified networks TAIKO-Taiko and TAIKO-Ethereum for transactions.
- Expect temporary restrictions on buy and sell orders to manage volatility.
- Only verified wallet addresses are eligible for transactions.
- Inconsistent network sources will result in canceled deposits.
Upbit emphasizes that deposit security will be maintained through the use of verified wallet addresses only. Any discrepancies regarding the asset’s network source will lead to the cancellation of the deposit transactions to safeguard user funds.