Boundless designated as 'cautionary listing' 17 days after listing "cooperating to resolve the issue"

Boundless (ZKC) was designated as a cautionary listing on major domestic virtual asset (cryptocurrency) exchanges less than three weeks after being listed. The Boundless Foundation said it is cooperating to resolve the issue and clarified that there is no impact on network security.

The Boundless Foundation stated on X on the 2nd (local time) that "we acknowledge the notice from the Digital Asset Exchanges Joint Council (DAXA) and are cooperating with the relevant parties to resolve the issue," and "we will share the situation with the community as soon as possible." It added that "this matter does not affect network security or operations."

Earlier, DAXA designated Boundless as a cautionary listing, saying "there were shortcomings in the details and extent of changes to the circulating supply plan, the transparency and reasonableness of the change procedures, and the disclosure of material matters." It also added that "if important matters are changed without legitimate reasons, it could lead to investor harm," and "questions were not resolved despite communication with the foundation."

Boundless was listed on major domestic exchanges such as Upbit, Bithumb, and Coinone on September 15, but was designated as a cautionary listing after just 17 days. Accordingly, whether the listings will be maintained is expected to be decided based on the results of reviews by the exchanges.