This is not investment advice, or an endorsement by BitMart as to the intrinsic value of a digital asset, or a commitment by BitMart team to support any specific asset/token that the announcement pertains to. You may submit the inquiry or email and we will get back to you promptly.ĪTTENTION: This announcement is only intended to be a legal disclosure to BitMart users. The Loom Network team explained that the existing LOOM token contract cannot be upgraded, so they are planning to swap the current token contract with a new. Meanwhile, any inquiries, concerns, and questions with regard to our listing decision, either from authorities, social organizations, or individual users, are sincerely welcome, and we will revisit our listing process on a fully-informed basis. We finally decided that listing LOOM is in compliance with local rules and regulations in areas where we operate. Our compliance team prudently reviewed all the materials we were provided on a case-by-case basis and reported that LOOM is structured and promoted as “Utility Token”, and therefore, should be not categorized as “Security”. We also took tremendous time and effort to develop our own compliance review system to make sure that our listings of certain tokens/coins do not run afoul of local laws. We are persuaded that LOOM meets these criteria of BitMart. We have been strictly enforcing our listing criteria to make sure that the projects we introduce to all BitMart users are secure, compliant, and innovative. We are making this decision according to BitMart Listing Criteria and the local rules and regulations in areas where we operate. Please note the available dates for different functions below: The following trading pairs are available now: LOOM/BTC, LOOM/ETH. With its powerful suite of tools and support for various DeFi protocols and NFTs, it provides users with a secure and cost-effective way of creating decentralized applications.We have listed Loom Network (LOOM) on our digital asset platform on January 21, 2020. Overall, Loom Network (OLD) is an innovative blockchain platform designed specifically for developers looking for an easy way to build large-scale dApps. Keep in mind that the LOOM token is not mined and instead it is earned by users who engage with DApps on the Loom Network. Furthermore, the platform also supports NFTs (non-fungible tokens), which are digital assets that cannot be exchanged or replicated like traditional cryptocurrencies. These protocols allow users to access financial services without relying on centralized entities or banks. In addition to providing developers with tools for building dApps, Loom Network (OLD) also offers users access to various DeFi protocols such as lending platforms, stablecoins, and decentralized exchanges. This allows developers to take advantage of Ethereum’s security while still having their own independent chain. This technology allows developers to create their own independent blockchains that are connected directly to the Ethereum mainnet. To achieve this goal, the platform utilizes its own sidechain technology called PlasmaChain. The main goal of Loom Network (OLD) is to provide developers with an easy way to create and deploy dApps that are secure, scalable, and cost-effective. Additionally, the platform also offers its own token called LOOM, which can be used to pay for services on the network. The platform provides developers with tools such as smart contracts, sidechains, and consensus algorithms that allow them to create dApps quickly and efficiently. One such coin is Loom Network (OLD), which was launched in 2017 as an Ethereum-based platform designed to enable developers to build large-scale decentralized applications (dApps). Coins are typically created and stored on blockchain networks, allowing users to securely transfer value without the need for a third-party intermediary. A coin is a digital asset that can be used as a medium of exchange.
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