Yesterday, a number of members on our team received the following email from Poloniex Exchange about Peercoin being delisted, along with a number of other crypto projects:
First, it should be stated that we are on good relations with Poloniex and they have been an exchange partner of Peercoin for the past 5 years, since April 8th, 2014. We also have close contact with their technical team. However in spite of this long established relationship we found out about this delisting along with everyone else.
We are currently in the process of reaching out to their management team so we can better understand what factors have led to this decision. At this point however, all we can do is speculate as to the reason why Poloniex has taken this action.
Open a Support Ticket
We encourage everyone who supports Peercoin to reach out to Poloniex by opening a support ticket and asking them to reconsider their position. Explain your support for Peercoin and why you think it would be a mistake for us to part ways. Also ask them to get in touch with our team at firstname.lastname@example.org so we can discuss the matter and negotiate a solution.
Regardless of the outcome, the Peercoin Team will continue on its current mission of modernizing Peercoin’s protocol as communicated in our April Monthly Update…
Exchange Expansion Plans
In addition to our development work, the Peercoin Foundation also recently obtained a legal risks memo from a US based attorney at law that we hired to estimate the position and the legal treatment of Peercoin under U.S. Federal securities law. A digest of this memo has been provided here for unofficial and public use: https://docs.peercoin.net/#/peercoin-legal-risks-memo. You may refer to this document for educational and informative purposes.
Modern exchanges today require this legal memo upon listing to show proof that Peercoin is not classified as a security. Now that we have officially obtained this legal memo, there is nothing preventing the Peercoin Foundation from being able to list at more liquid exchanges. We are currently in the process of determining which exchanges we will apply to list at in our upcoming expansion efforts. Please also consider donating either PPC or BTC to the foundation fund so we can pay various listing fees at different exchanges.
Of course we also hope that Poloniex will reconsider their position and remain an established partner of Peercoin as they have for the past five years. Our team will do its best to continue reaching out to them and we appreciate any help the community can give in doing the same.