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From Strength to Strength: XCM Floor Price Update

30.05.2022

A Year of Growth

 

Coinmetro is moving the mechanical XCM floor price to €0.60*. The update comes as a natural evolution following our recent XCM equity round and significant development the company has seen in the last year. Growing nearly 1,000% on most metrics, 2021 was our best year yet, with users increasing fourfold in the last 12 months. We have even more exciting news about funding and progress with investors coming soon too.

 

What You Need to Know:

 

17:00 UTC 30th May

  • All existing LIMIT orders under €0.60 will remain in the order book across all XCM Spot Exchange and Margin pairs
    • These can be edited to a LIMIT price above €0.60 or can be cancelled
  • New LIMIT orders under €0.60 will be rejected with immediate effect
  • MARKET orders will not be affected. Any XCM on the sell side can be bought and any XCM on the buy side can be sold into with a MARKET order
  • SWAP orders will be disabled on XCM pairs for at least 48 hours

 

17:00 UTC 1st June

  • All LIMIT orders under €0.60 will be removed. Clients with open orders will be notified if any orders are cancelled
  • New Floor Price officially in effect

 

What this Means

With an XCM price floor implemented at €0.60 it will mean that any limit order that is attempted to be placed below this price on Coinmetro will be rejected.

We have reviewed all Margin exposure across XCM pairs and currently the only users with short positions on XCM pairs already have a negative unrealized PnL (Profit and Loss). We have taken the decision to close these positions on behalf of these users to ensure their losses do not grow and prevent any margin calls or stop outs. We will also cover any realized PnL so they do not have any loss at all on these positions. We believe this is the fairest way to handle the situation.

Market orders will not be affected during this process at all. We already offer price protection and slippage warnings in the event of volatility.

As soon as we see liquidity stabilize we will re-enable SWAPs for XCM pairs. Our goal is to facilitate a healthy trading environment.

 

Ongoing Support & Assistance

As the new price floor comes into effect, any question you might have will be gladly answered by our 24/7 support team. Feel free to reach out for assistance and support – you will find real people at the other end of the line with a clear understanding for your needs.

In the meanwhile, join the ever-growing Coinmetro community on Discord and Telegram to stay up to date with the latest crypto developments, learn and exchange ideas with like-minded people. To begin your trading and investing journey today, take action now and sign up to our platform in just a few steps.

 

*Floor prices apply on Spot and Margin pairs against alternative quote currencies.

XCM/EUR 0.60 EUR | XCM/USD 0.63 USD | XCM/ETH 0.00036 ETH