South Korea's leading cryptocurrency exchange Upbit announced new trading pairs for the Ethereum-based digital asset Newton Protocol (NEWT). Users can now trade NEWT in KRW (Korean Won), BTC, and USDT pairs.
In a statement from Upbit, it was stated that NEWT tokens can only be transferred through the Ethereum network. Transactions made from other networks will not be supported, and even if such transfers enter the return process, it may take time.
Additionally, before the reference price is determined on price tracking platforms like CoinMarketCap, deposits of NEWT amounting to 1 million KRW and above will be subject to additional verifications under the 'Travel Rule'.
Trading Rules and Starting Details
Upbit announced the following restrictions at the opening of new trading pairs:
Only sell orders will be accepted during the first 5 minutes, buy orders will be closed.
A reference price will be announced for the minimum sale price.
Only limit orders will be accepted in the first 2 hours; market and other order types will be temporarily disabled.
About Newton Protocol (NEWT)
NEWT is an innovative project that aims to facilitate user experience in the Web3 ecosystem, providing an AI-based automated agent infrastructure. The platform operates through secure and verifiable AI agents in accordance with the goals set by users.
NEWT tokens are used in functions such as staking, payment transactions, and governance.
Security and Compliance Warnings
Upbit announced that only deposits and withdrawals of NEWT from ‘verified, self-owned wallet addresses’ will be allowed. Transfers from non-compliant wallets may be returned. For transactions involving large amounts, users may be required to provide documentation regarding the source of funds.
Users are strongly reminded to be careful about network type, contract address, and compliance issues. The official NEWT contract address is specified as follows:
0xD0eC028a3D21533Fdd200838F39c85B03679285D
With this step, Upbit continues to provide Korean investors with early access to innovative Web3 projects.
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