OKX has announced the delisting of seven tokens: MSN, OMN, REP, EURT, IGU, PCI, and SLN. Among these, SLN has been hit particularly hard, having lost over 96% of its value since its launch.
Notably, some of the delisted tokens, including SLN and MSN, had previously received investment from OKX Ventures before being listed on the exchange.
Smart Layer responded to OKX delisting SLN: We are disappointed. Before listing in February, OKX promised to list globally. After listing, OKX blocked trading in almost all major countries and markets. SLN has fallen by more than 96% since its launch. Several tokens listed by… https://t.co/hvsLTR9Qwu
— Wu Blockchain (@WuBlockchain) August 8, 2024
In response to the delisting, Smart Layer, the team behind SLN, expressed their disappointment with OKX’s decision. According to Smart Layer, OKX had initially committed to a global listing for SLN ahead of its February launch, with restrictions only in mainland China and select European countries. However, after the listing, OKX reportedly blocked SLN trading pairs in nearly all major countries and markets, effectively limiting the token’s availability.
Smart Layer stated that despite repeated attempts to engage with OKX, they have yet to receive a meaningful response. This lack of communication has left the SLN community frustrated, as many members were unable to purchase the token due to the widespread trading restrictions imposed by OKX.
Despite this setback, Smart Layer remains optimistic about the future of SLN. The team highlighted that they have strong partnerships with over 10 other exchanges and that the Smart Layer ecosystem continues to grow in terms of technology and adoption. As the cryptocurrency and altcoin markets gain momentum in the coming months, Smart Layer is committed to ensuring that SLN holders are rewarded for their trust and conviction in the project.
We note today's decision by OKX to delist the $SLN token.
While disappointed by this news, we are relieved to move forward with certainty.
In the lead-up to listing in February of this year, our OKX Listing Manager committed to a global listing, with mainland China and select…
— Smart Layer (@SmartLayer) August 7, 2024
The situation with OKX serves as a reminder of the challenges that can arise in the rapidly evolving crypto landscape. However, Smart Layer’s determination to push forward suggests that the SLN token may still have a bright future ahead.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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