Recently, due to the unfair treatment by relevant institutions in Hong Kong towards JPEX, a cryptocurrency trading platform, and a series of negative news, our partnered third-party market makers have maliciously frozen funds. They demanded more information from the platform for negotiation, restricting our liquidity and significantly increasing our daily operating costs, leading to operational difficulties.
To protect users’ interests, we are currently negotiating with these third-party market makers to resolve the liquidity shortage as soon as possible. However, to avoid negatively impacting the negotiation outcomes, the details will be announced after the negotiations are concluded.
Due to the third-party market makers restricting our liquidity and to comply with policy guidelines, all transactions on our Earn Trading interface will be delisted on September 18, 2023, at 00:00 (GMT+8). At that time, users will not be able to place any new Earn order. Existing ongoing Earn orders will continue until the product’s end date to receive rewawd.
We promise to recover liquidity from third-party market makers as soon as possible and gradually adjust the withdrawal fees back to normal levels. During this period, our dedicated withdrawal team responsible for handling emergency withdrawal requests will continue to prioritize users’ needs. We hope to navigate through these challenging times together with our users.
JPEX has always believed that a decentralized autonomous organization (DAO), with decisions jointly made by every member of the community, can unleash enormous power. We understand that to keep the platform running stably, we must restructure at this stage to redefine our operational direction and jointly formulate future strategies for JPEX. Toward this end, we will publicly collect users’ suggestions, discuss proposals with the dedicated team, and select reasonable plans for a user referendum. The specific implementation of the referendum will be announced the following day. We look forward to users’ participation and moving forward together.
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We hereby promise that JPEX will continue to operate unswervingly. The platform has been working around the clock, integrating all team resources, striving for new solutions, and will not falter due to the severe challenges caused by irreversible policy risks. We will maintain our user-centric approach, and we thank you for your ongoing support!
Sep 17, 2023