In order to begin the token evaluation process, applicants who want to be listed on HashKey Exchange must pay an application fee of $10,000.
HashKey Group, a Hong Kong-based cryptocurrency company, has released a listing policy for those looking to list their products in Asia. HashKey said on its support page that applicants wishing to launch their tokens on the platform must pay a $10,000 review fee.
According to the business, the application cost is “non-refundable,” and it “does not guarantee a successful listing on HashKey Exchange.” Before formally listing on HashKey Exchange, applicants must pay a “one-time listing fee” that varies from $50,000 to $300,000 in addition to the review price.
The listing charge is determined by considering the distinctive features, transaction structure, and complexity of the token, as well as the regulatory approval process and expert opinion, according to the firm.
Who will speak for HashKey as an authority throughout the listing procedure is still being determined. The company, based in Hong Kong, pointed out that tokens can have various features and purposes.
It also implied that assets that are neither ERC-20 or BEP-20 will likely be more expensive than those that are created on the Ethereum (ETH) network or BNB Chain (previously Binance Smart Chain).
“The more complex the token type, the more scrutiny and analysis the exchange will need to perform. This added complexity often results in additional work for exchange staff, legal experts, and regulatory advisors, resulting in increased listing fees.”
The exchange further stated that in-depth examination and research of intricate transaction structures, such as governance models, will be necessary to impact the listing charge.
HashKey stated that it may alter this policy at any time and hinted that the pricing range might do so as well. Professional investors can trade over six cryptocurrencies on HashKey Exchange as of publication, including Uniswap (UNI) and Chainlink (LINK).
The listing cost charged by HashKey is comparable to what other trade platforms charged several years ago. For instance, Binance CEO Changpeng Zhao stated that his company will charge “probably close to $100K US” to publish a token on Binance DEX, a decentralized cryptocurrency exchange, in a since-deleted blog post from February 7, 2019.
Because centralized cryptocurrency exchanges are more liquid than decentralized ones, premium cryptocurrency exchanges these days probably charge far more than $100,000.
