Crypto exchange Bitget has announced an update to its token listing requirements, introducing stricter criteria that include a thorough review of projects’ business plans and background checks on developers.
In an announcement on October 10, Bitget outlined the new requirements, which demand compliance with several factors. These include a fully diluted valuation (FDV), past development and investment records, a detailed business plan, lock-up periods, a token distribution plan, and social media activity, among other indicators.
Based in the Seychelles, Bitget is one of the largest crypto exchanges by trading volume. According to data from CoinMarketCap and DefiLlama, Bitget holds over $3.4 billion in user assets, with a trading volume exceeding $1.5 billion in the past 24 hours.
The exchange emphasized that projects’ tokenomics will receive “special attention,” with a focus on analyzing token supply, distribution, and utility. Bitget’s evaluation process for new projects begins by examining the project’s FDV — a metric that estimates the potential value of the total token supply.
“The FDV should align with the amount raised, typically not exceeding 20 times the financing. For example, a project raising $5 million should have an FDV under $100 million,” Bitget noted, adding that this ensures “valuations don’t mislead investors.”
Tokens with a locking period shorter than two years will face additional scrutiny. Bitget explained that a short-term unlock period might indicate a “lack of long-term commitment” and could lead to “early sell pressure, jeopardizing the token’s stability.”
The exchange will also assess the online reputation and backgrounds of team members, particularly focusing on any involvement in fraud, investor deception, or illegal activities. Hon Ng, Bitget’s chief legal officer, stated, “We appreciate the effort users put into gathering documents to register. We want to ensure their protection and expect the same from projects.”
For tokens already listed on other exchanges, Bitget will evaluate smart contract security and token distribution. Projects with concentrated token distributions — where the team holds more than 50% or the issuer holds more than 20% — will be considered risky. Bitget cited Simpson-themed tokens in 2024, which tried to hide centralized control but were rejected after further analysis.