BEWARE using KUCOIN!

Hope I can soon add support for withdrawing (with slate-packs) to the description for Kucoin in our active exchanges list.
hub/mining-exchanges.md at main · grincc/hub · GitHub.

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great news.:pray:t2:
thanks.:+1:t2::blue_heart:

I see there that Kucoin is tagged as KYC required exchange, however you can use it in non KYC way under 1 BTC withdrawals per day.

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@bruges :+1: Thx, updated the information for KuCoin.

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That would be really great

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They opened withdraws…

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If they didn’t open deposits does that mean they are delisting?

I would rather they delist than keep a closed market listed.

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Currently in the background we work with them to solve technical issues.
Exchanges usually onboard new/old coins for a commission, but not for GRIN.

This is why we don’t pressure anyone, but help them understand the changes since GRIN v.4 → v5.
It takes time to understand and automate GRIN for an exchange.

Be positive and/or offer your help to speedup the technical process. :smile:

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After having a personal meeting with KuCoin I was asked if we can increase the volume on KuCoin.
In the background I did contact a few GRIN market maker but as KuCoin keeps the deposit closed we can not really increase the minimum volume.

The minimum volume would be archivable if KuCoin would open up deposits to KuCoin, which they did not do.

KuCoin did mark GRIN as ST:

Quote from the direct communication with KuCoin:

GRIN will be tagged as ST project on KuCoin due to low liquidity in months.( After our last meeting, I apply the grace period but due to there is no improvement last month, we have to tag ST this month.)
We will give one month observation period, please try to meet the basic liquidity requirement. Please note that we reserve the right to DELIST your token from KuCoin in the next month.
More details about ST area can be found through this link:Crypto Exchange | Bitcoin Exchange | Bitcoin Trading | KuCoin

We did reply with:

Thank you for informing us that GRIN is tagged as ST.
I can only repeat myself as I did in our personal video conference, the deposit is still closed and I can not convince market maker nor other GRIN community people to trade on KuCoin if deposits remain closed.
Do you mind asking again, if and when you open deposits for GRIN.
As I also mentioned in our meeting, we would be able to make the minimum liquidity requirement which you asked for.
But not with closed GRIN deposits as we can not move liquidity and therefore volume to your Exchange.
I appreciate your consideration of the grace period, but to be fair, we can not met your requirements if we can not freely trade GRIN on KuCoin.
Therefore I ask you again, to double check if and when we can deposit GRIN on KuCoin
Thank you,
Mike

I am unsure what to do now, as we did offer we can maintain the minimum liquidity, etc .

**Any suggestions from the Grin Community on how to proceed now ? (as I could need some help here) **

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I suggest we let it go, kucoin only makes grin look worse leaving a defunct trading pair online for years.

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I agree with you, but the problem is that this is the only major exchange that lists GRIN. Which still makes it easier to increase adoption.

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if they were honest, they would appreciate all efforts and act accordingly.
Closing deposits, and telling No liquidity is a DISHONEST move from an exchange and red flag.
You have done your best @mcm-mike , thank you for all efforts anyway.

Just tell them, GRIN Community will not forget this :slight_smile:

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It is all up to KuCoin, not really our problem.
Open up deposits = liquidity, keeping deposits closed = no liquidity. You have been completely clear @mcm-mike and supportive. The only thing we can do is offer support to any exchange, but their decisions on listings and de-listings are their own to make.

An exchange can base their decisions on economic reasons like liquidity, or principle ones like Grin being one of the few projects in the crypto space that adds intrinsic value to the crypto space. Grin as projects is recognized having such value by many diehard crypto enthusiasts including many Bitcoiners that might trade on KuCoin. If KuCoin decides to delist grin, that will inconvenience some community members, but it is a double edge sword, and delisting would also negatively impact the reputation of KuCoin. That is another factor for KuCoin to weigh in on their decisions. Note that declaring to have the freedom to delist is not the same as actually delisting. Time will tell. It might also just be part of some FUD in the market.

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Well In the end we always can make that’s funny situation more public. Maybe they will think twice in that case

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Any got ideas why Kucoin has significantly higher than Gateio? Or they bought Grin in Gateio then sell in their own platform? I haven’t had chance to test Kucoin.
image

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Coz they have closed wallets, so it’s like limited coins in their vaults.

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Altseason is knocking on the door. You here?
I expect a price of $1

Latest update from KuCoin:

Dear GRIN team,

According to the latest monthly review of your token performance this month, unfortunately, we’re still not seeing significant improvement of your trading performance. Therefore, according to our project management rules, we’re sorry to inform you that GRIN will be delisted from our platform.

Please let us know if you have any further questions.

Thanks for your support!

I thanked KuCoin and also reminded them we had never a chance to meet the min. requirements:

Thank you for informing us.

I will let our community know to withdraw all remaining Grin from your exchange .

Sadly you did not respond to my last message , we where not able to deposit GRIN to meet your trading volume.

We would like to thank KuCoin for the corporation but also emphasize we had no chance to meet your expectations due to the deposit problem.

Thank you,
Mike

From the Original chat:

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For real, you spoke with Kucoin at Telegram? It looks like a scam. Share link to this chat, please. It’s like asking Bitcoin team to review token performance, completely misunderstanding of things.