The process of listing a token on Liquid includes due diligence on said token and its project, marketing plans, technical development, and other preparations.
- Due diligence on token and project
- Due diligence on the company behind the token and the project. Token issuer to create a corporate account on Liquid. Token issuer to provide necessary documents for corporate account verification.
- Technical preparations and marketing plans
Documents required for due diligence on token and project are to be sent to [email protected].
Email title: Token Listing [Network name - Cryptocurrency name]
For example: Token Listing [Ethereum - ETH]
Attached documents should include:
- Smart Contract Audit by an established firm (ex. Quantstamp, Zeppelin, New Alchemy, etc)
- Source Code committed to GitHub or a publicly available repository
- Legal Opinion that Token is not a Security by a credible law firm
- Contract Address of Token. As of June 2018, we only support ERC-20 tokens.
- Minimum Viable Product timeline
- List of Core Team. If there are advisors, Token Issuer needs to clarify how they are linked to the project
- Detailed roadmap and milestones for the project
- Social media community size - Telegram, facebook, twitter, etc
- Total funds raised in the Private Sale
- How funds raised will be used
- List of key investors including VC funds
Number 4 needs to be an actual Legal Opinion, not some sort of internal memo, with adequate Legal Analysis. The Legal Opinion should clearly express the opinion that "the token will not be classified as a "security". We are also (at present) able to accept Legal Opinions which use the phrase "highly unlikely to be classified as a "security". [Or equivalent wording]"
Once due diligence on the token and its project is completed, we will move on to due diligence for token issuer, technical preparations, and marketing plans. We will also start negotiating on listing price.
Token issuer is required to create a corporate account on Liquid for the corporate entity that they are representing, and get this account verified ("approved") in order to handle listing fee process and a number of backend checks. A representative from Liquid Corporate Account team [email protected] will handle the verification process. Required documents for verification below must be obtained from the registry in the country of incorporation (or an appropriate regulatory body or similar reliable sources). Entity documents such as Certificate of Incorporation, Memorandum & Article of Association, and Shareholder List must be certified true copies by external notary public, lawyer, or accountant.
- Certificate of Incorporation
- Memorandum & Article of Association
- A list of all shareholders and percentage of ownership of the entity
- Proof of address of the entity which was issued within 3 months
- Passport and Proof of address documents of at least 2 directors. If the entity has only 1 director, one set of these documents is sufficient.
- Passport and Proof of address documents of all shareholders who have over 25% ownership share
- Resolution of Board of Directors to open a corporate account with Liquid and to appoint account manager(s)
- Passport and Proof of address documents of all account manager(s). If account managers are included in Board of Directors or list of shareholders with 25% and more ownership share, this item can be skipped.
For technical preparations and marketing plans, our Business Development representatives at [email protected] will coordinate with responsible teams to deliver desirable result.