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Community Coin Voting

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Community Coin Voting is a program by Indodax to determine new coins/tokens which are eligible to be listed in Indodax platform. In this program, all Indodax members could participate starting from the process of registration for the coins/tokens until vote on coins / tokens desired. There will be only 1 (one) new Crypto assets listed on Indodax platform at the end of period of Community Coin Voting program. Requirement and provision of Community Coin Voting program.

CRYPTO ASSET REGISTRATION
  1. Registration Schedule can be seen on our blog https://blog.indodax.com/en_US/category/community-coin-voting/.
  2. Registration can only be done by verified Indodax member.
  3. To register in this program, 100 TEN per Crypto Asset is required and will be deducted from the member’s account balance at the time of Crypto Asset registration.
  4. The applicant must guarantee a number of TEN as a security deposit and could determine the amount by themselves.
  5. Crypto Asset which can be registered are:
    • Projects which do not violate regulations applied in Indonesia
    • Minimum registered at 1 exchanges registered with CoinMarketCap
    • Project that are registered must be worth equal or more than Rp 1.00,-
    • Excluding MLM / lending / investment projects
    • Must have a vivid and reliable founder / co-founder identity
    • Registered on coinmarketcap.com/coingecko/
    • The Crypto Asset has definite supply and circulation and can be seen in blockchain network
    • We only can support Ethereum Token, NEO Token, Stellar Token, Achain token, Waves Token. Mainnet is subject of consideration by management Indodax.
    • Other internal consideration by INDODAX management
    • Crypto assets must have put the company name registered on its website and company clearly registered before the voting period.
    • Project was filed have no warning of the supervisory ojk as investment in indonesia
  6. Crypto Asset registration can be made on Indodax.com website in “Community Coin Voting” menu (after logging in).
SECURITY DEPOSIT
  1. Registration of Crypto Asset requires a number of security deposit that can be determined by the member.
  2. Security deposit is in the form of TEN tokens.
  3. Security deposit is a guarantee that the coin / token project will run smoothly for up to 1 year in the future. If for one reason or another the coin / token that has been registered turns out to be problematic (example: the team breaks up, the team asks for delisting, small liquidity, chain-splits occur, breaks the rules, etc.), the security deposit will be paid back to members who still have The coin / token corresponds to the pro-rata calculation of the balance held.
    As long as Indodax management does not receive reports related to team disbursement from the project concerned, the team requests delisting, small liquidity, the project violates regulations and so on, so the security deposit is not returned to the members.
  4. The amount of security deposit can be added up to 24 hours before the voting period ends, but can not be reduced.
  5. The amount of security deposit of each Crypto Asset will appear on the voting page.
  6. Security deposit is only valid for one voting period. If a coin fails to win a vote for a certain period, the security deposit will return to 0 TEN on the next period.
  7. To maintain the quality of the coins that have been submitted, we record all security deposits that have been registered. However, for the score calculation, we separate the security deposit for each period.
COMMUNITY VOTING
  1. Voting can only be done by verified Indodax members.
  2. Every 1 vote sent requires 1 TEN to be deducted directly from voter’s account balance.
  3. There is no maximum vote limit for each member.
  4. Member can vote to more than 1 Crypto Asset.
  5. Every vote that has been done is final and cannot be canceled.
  6. TEN collected from the Community Voting program will be saved in cold storage and not be used within at least 1 year after the voting period is over. Collected TEN will be save at the following address: 0xd39c74c6a8c2b759a6b855804964a24cab2fa79b
SCORING
  1. Only 1 winner each voting
  2. The winner needs a minimum score of 10,000.
  3. The winner needs at least 100 other members who also give vote.
  4. Quality Score as one of aspects that will be calculated.
    • There are 2 categories of Quality Score:
      • Quality Score Based on Listed in Other Exchange** (CoinMarketCap Reported Volume)
        1. Top 100 project : QS 300,000
        2. Top 200 project : QS 200,000
        3. Top 500 project : QS 100,000
      • Quality Score calculation will be calculated on D-1 before voting period begins.
        1. Listed in Top 10 exchange : QS 200,000
        2. Listed in Top 50 exchange : QS 100,000
    • Quality Score calculation will be calculated on D-1 at 15.00 WIB – 16.00 WIB before voting period begins. *Coin Rank based on https://coinmarketcap.com/all/views/all/ **Exchange Rank based on https://coinmarketcap.com/rankings/exchanges/reported/
    • As example Quality Score for ABC project: ABC is ranked 6 and listed on Top 10 Exchange based on Coinmarketcap.com, so the calculation is: Total Quality Score = 300,000 + 200,000 = 500,000.
  5. Assessment for Community Coin Voting is calculated based on the number of votes, the amount of security deposit, previous Community Coin Voting score, and Quality Score, by the formula:
    • Score = (Total vote x 1 x 0,9) + (security deposit x 0,1) + (0,5 x previous score) + management score
MODERATION
  1. INDODAX has the rights to moderate all the incoming crypto asset registration.
  2. INDODAX can reject crypto asset registration which considered unilaterally violate the terms.
  3. If the registration is rejected, then the security deposit will be returned to the registrant.
  4. The balance of 100 TEN which have been deducted as the requirement of registration is not refundable.
  5. INDODAX will conduct Due Diligence on voting winner to make sure on management and company profile. If the winner does not pass Due Diligence, INDODAX will not list it. If this happen, our team will consider the second winner to be listed. Crypto asset used for voting will not be returned in any condition even if it does not pass Due Diligence.
  6. INDODAX management has the right to disqualify, eliminate or not to proceed each Crypto Asset project to next round.
  7. If a crypto asset project which registered fail to win on COMMUNITY COIN VOTING, vote amount and security deposit will be kept for the next period. The vote amount will not expire when the next voting period begin. Crypto asset which does not win in certain period can join COMMUNITY COIN VOTING next period only if approved by INDODAX management.
  8. Every decision made by INDODAX management is final and INDODAX is not obligated to provide reasons for any decisions made.
  9. Project that want to join Community Coin Voting must have placed registered company name in their website before the voting period begin.
OTHERS
  1. INDODAX may change rules for Community Coin Voting for next period
  2.  If registered Crypto assets fail to win CCV in the previous period, score will deducted by 50% on next period. This deduction will applied on CCV period VI for participants from CCV period V. This new rule is made to make sure CCV process fair for new Crypto Assets on the next period.
  3. INDODAX may add certain crypto asset to marketplace without Community Coin Voting process if coin/token meet on of our requirements below :
  • Ranked top 100 in coinmarketcap.com
  • Other internal consideration by INDODAX management
  • Please note that all type of Crypto Assets in INDODAX have possibilities to be delisted from our marketplace if the project is constrained, has small trading volume, has crash with Indonesian regulations, or management considerations.

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