Important Update from SourceLess (Listing, Swap, Regulations)

2 min readSep 3, 2024

Date: 03 September 2024

Dear SourceLess Community,

Today, we are sharing important updates regarding the progress and timeline of our upcoming listings. We understand that many of you have been eagerly awaiting the listing of our STR cryptocurrency on three major exchanges. However, due to unforeseen regulatory challenges and other compliance requirements, we must announce a necessary delay of 45 days.

Reasons for the Delay:

Swap Results:
Currently, the swap results are below 30%, while the minimum requirement for listing is 50% + 1. This is essential to ensure the smooth transition and liquidity of STR across all platforms.
Regulatory Compliance:
We are working diligently to meet the latest regulations, including the Markets in Crypto-Assets (MiCA) framework and compliance with KYC (Know Your Customer) and AML (Anti-Money Laundering) protocols. These regulations are critical to the integrity and security of our operations and must be fully adhered to before we can proceed with the listings. For further context, you can review the following resources:

Our Commitment:

We want to assure you that SourceLess is fully committed to overcoming these challenges. Over the next 45 days, we will be taking all necessary actions to become fully compliant with the regulatory requirements. Our goal is to ensure a smooth and secure listing process that aligns with international standards.

Preventative Measures:

We have taken all possible measures to avoid this delay, but the legislative hurdles and the need for immediate compliance are beyond our current capacity to expedite. However, we are implementing changes and solutions to better address these issues moving forward.

OTC Withdrawal Option:

For those who prefer not to wait, we will keep the OTC (Over-The-Counter) open for the next 45 days, allowing you to withdraw your STR tokens if desired. This option is available during this period, and we will continue to support the community through this process.

Future Listings:

We remain committed to listing STR (tokens and/or domains) on platforms like Zixxar, OpenSea, and Rarible as planned. However, our priority is to ensure that we meet all regulatory requirements to protect our community and provide a secure environment for trading.

We appreciate your understanding and patience as we navigate these regulatory challenges. Rest assured, SourceLess is dedicated to achieving compliance and successfully listing our tokens. We will keep you updated with any further developments.

Thank you for your continued support.

Sincerely,
The SourceLess Team