The 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 to the Singapore BitMax exchange, currently leading in terms of the stated 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 by a prospective ICO consultant.
The listing is technically ‘free’ when services such as market making are purchased. However the fee quoted was extortionate (believed to be 1 million dollars for the market making budget on Lition which is a 5 million dollar cap project).
This took place on Thursday, the day of the sale. The Lition team were completely bemused by the quote and no agreement was signed. Bitmax then went public and announced they are currently not in discussions with Lition and wished them all the best.
Bitmax’s CEO, George Cao, then publicly confirmed the $1 million request, stating there’s no hard feelings regarding the fallout, “we had different views on business and listing strategy.”
BitMax Telegram Chat
In February, it was reported that imposing additional services on projects wishing to be listed on trading platforms could be dealt with by the KuCoin and OKEx exchanges.