#Table of Contents

On April 12th, according to Upbit’s announcement, members of the Korean Digital Asset Exchange Association DAXA plan to terminate their trading support for OmiseGO (OMG) and Serum (SRM) due to abnormal operation of the OmiseGO network (such as difficulty verifying normal network blockages) and the failure of the Serum project to operate properly, making its protocol unusable.

DAXA members of the Korea Digital Asset Exchange Association will jointly delist OMG and SRM

1. Introduction: Upbit Members to Terminate Trading Support for OmiseGO and Serum
2. Why is OmiseGO (OMG) Trading Support Being Terminated?
3. Understanding the Abnormal Operation of the OmiseGO Network
4. How Will the Termination of Trading Support Impact OmiseGO Users?
5. What is Serum (SRM) Protocol and How Did it Fail to Operate?
6. Impact of the Serum Project Failure on Trading Support
7. What Can OmiseGO and Serum do to Regain Trading Support?
8. Conclusion
9. FAQs

Upbit Members to Terminate Trading Support for OmiseGO and Serum

Upbit, a South Korean digital asset exchange owned by Dunamu, has announced that members of the Korean Digital Asset Exchange Association DAXA plan to terminate their trading support for OmiseGO (OMG) and Serum (SRM). This decision has come as a result of the abnormal operation of the OmiseGO network and the failure of the Serum project to operate properly, making its protocol unusable.

Why is OmiseGO (OMG) Trading Support Being Terminated?

OmiseGO is an Ethereum-based financial technology company that provides a decentralized exchange and a blockchain-based payment processor. The cryptocurrency associated with this project is called “OMG.” However, the OmiseGO network has been experiencing difficulty verifying normal network blockages, which has led to the decision to terminate trading support for OMG.

Understanding the Abnormal Operation of the OmiseGO Network

The OmiseGO network has been experiencing abnormal operations, particularly around the network blockages. This has caused significant issues, hampering its ability to operate smoothly. As a result, upbit’s members of the Korean Digital Asset Exchange Association DAXA have decided to terminate their trading support.

How Will the Termination of Trading Support Impact OmiseGO Users?

The termination of trading support will lead to a loss of value for OmiseGO tokens. This will negatively impact the users who have invested in OMG, as the value of their investment will decrease. The termination of trading support may also lead to a significant drop in the value of the OMG token. It is important to note that this decision does not impact the ability of people to hold or transfer OMG tokens.

What is Serum (SRM) Protocol and How Did it Fail to Operate?

Serum is a decentralized trading protocol designed to enable trustless transactions on the blockchain. The cryptocurrency associated with this project is called “SRM.” However, the Serum project failed to operate properly, making its protocol unusable. As a result, upbit’s members of the Korean Digital Asset Exchange Association DAXA have decided to terminate their trading support.

Impact of the Serum Project Failure on Trading Support

The Serum project’s failure to operate properly has a major impact on trading support. It has caused a loss of trust among those who have invested in the project, leading to the termination of trading support for SRM. The loss of trust could lead to a significant decrease in the value of the SRM token, negatively impacting investors who have put their money into the project.

What Can OmiseGO and Serum do to Regain Trading Support?

OmiseGO and Serum will have to address the issues that led to the termination of their trading support. OmiseGO will need to resolve the abnormal operation of its network, while Serum will have to come up with a solution to make its protocol functional again. If they can address these issues and rebuild trust, it is possible that the trading support for both these projects could be reinstated.

Conclusion

The decision by upbit’s members of the Korean Digital Asset Exchange Association DAXA to terminate trading support for OmiseGO and Serum highlights the importance of building and maintaining trust in the cryptocurrency industry. It is important for projects to operate smoothly and address issues promptly to prevent investors from losing faith in them. OmiseGO and Serum will need to work hard to regain the trust of their users and investors.

FAQs

1. What is the impact of the termination of trading support on OmiseGO users?
– The termination of trading support will lead to a loss of value for OmiseGO tokens, negatively impacting users who have invested in OMG.
2. What led to the termination of trading support for Serum?
– The Serum project failed to operate properly, making its protocol unusable, which led to the termination of trading support for SRM.
3. Is it possible for OmiseGO and Serum to regain trading support?
– Yes, if they can address the issues that led to the termination of their trading support and rebuild trust, it is possible that the trading support for both these projects could be reinstated.