Update On Komodo's Upbit Listing

Komodo Team
Komodo Team

Table of Contents
Table of Contents

Komodo Team Response

Upbit’s recent delisting spree is an unfortunate decision for all the impacted projects. This appears to be Upbit's reaction to South Korea's changing regulatory landscape. We did everything in compliance to keep Komodo (KMD) listed on Upbit, including submitting a detailed written response that directly addressed Upbit’s concerns.

Komodo CTO Kadan Stadelmann commented on how AtomicDEX provides an alternative solution,

"We are fortunate that Komodo’s Korean community can withdraw their coins from Upbit, hold their funds in a robust multi-coin wallet like AtomicDEX, and make trades with thousands of listed coins on a powerful DEX network. This delisting shows why the industry needs decentralized exchange technology."

*Note 1: Komodo is currently in discussion with a major exchange that will soon offer a new KMD/KRW trading market. We will continue to keep the community updated.

*Note 2: Komodo Team is working to add more use cases for KMD on AtomicDEX. Future plans include using KMD for reduced DEX fees and for option premiums. These use cases will also be available to any products built using Komodo AtomicDEX API (e.g. DogeDEX and GleecDEX).

Why Has Upbit Delisted KMD?

Reasons for Ending Transaction Support from Upbit's official announcement.

Komodo has previously explained the anonymous transmission function, but there is a possibility that the business and technology development that the project is developing is still related to the related function, and the industry and related organizations' awareness of anonymous transmission has not been sufficiently resolved. As a result, it was finally determined that it did not meet our transaction support standards.

Komodo isn’t a privacy coin, and privacy features were removed for KMD in February 2019. With minimal research, it’s easy to quickly verify this information as it's publicly available.

Upbit sees AtomicDEX as an emerging decentralized trading solution and potential competitor. Hence, Upbit views KMD as an emerging coin that could be seen in the same regard as BNB, CAKE, 1INCH and other similar coins. None of these are currently listed on Upbit. In contrast, AtomicDEX supports non-custodial decentralized, permissionless HODLing and trading on AtomicDEX for these and thousands of additional coins, including KMD.

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