Following the problems our users are facing to trade their XAK tokens, I reached out to Xamatek directly to clarify their position.
Xamatek has confirmed to me via email that they have intentionally locked our DEX’s order book to restrict trading. They have also advised they do intent to unlock it in the future, but have not confirmed any date for when this will happen.
I have informed them that their token holders are very unhappy about this situation and invited them to join this discussion to provide you with a solution as they are only hurting their reputation for the future. We have also added a warning to the exchange, which will appear on top of XAK’s order book.
What does locking our DEX’s order book contract mean?
When Xamatek uses this function in their token, you cannot buy or sell XAK tokens or cancel open orders. This is controlled entirely by Xamatek and not Saturn Network. If you would like proof of this, please read through the following security audit.
Who can provide a solution?
Only Xamatek token creator wallet address can unlock trading.
Why not delist XAK token?
For starters many traders have XAK locked in open orders, which I hope one day Xamatek will let them retrieve. Saturn Protocol is designed to allow automated token self listing, this means we could hide XAK token on our frontend but we cannot truly delist the token at the protocol level.
Are you going to re-think your self-listing procedure?
Research will be done on what we could do at a protocol level to avoid this problem in the future, however, any changes to our self listing process would require a smart contract update which is something we never rush. As always we believe in decentralization being key to our financial future, it is unfortunate that Xamatek does not appear to believe in this model or hold our same values and wishes to mimic a centralized fiat currency.
We are sorry for every trader involved, and will continue to monitor this thread with hope that Xamatek will join the discussion to post their reasoning. If you have any feedback or queries, feel free to ask.