Message to the SMCAT Community To all SMCAT holders and members of our community, I would like to provide a brief update regarding recent trading activity. As many of you know, CATEX Exchange
Message to the SMCAT Community
To all SMCAT holders and members of our community,
I would like to provide a brief update regarding recent trading activity.
As many of you know, CATEX Exchange recently experienced a technical incident that affected trading activity on the platform. The exchange has since addressed the issue, corrected the affected trades, and restored normal operations.
Since then, we have noticed unusual sell activity in SMCAT. Based on what we are seeing, it appears that some very low-priced sell orders remain from that period and are continuing to place downward pressure on the market. This does not change the fundamentals of the project or the security token itself.
If you currently have older buy orders or trading orders on the exchange that are no longer consistent with your intentions, we respectfully ask that you review them and, if appropriate, remove or update them. Doing so helps ensure that the order book more accurately reflects current market conditions.
As a reminder, SMCAT is a regulated security token, and transfers remain subject to the project's compliance and whitelisting requirements. The recent market activity does not change those protections.
I would also like to personally recognize the CATEX Exchange team.
"It is truly an honor to be listed on CATEX Exchange. I want to personally thank the management and staff for the outstanding job they did in responding to the recent technical incident. They acted promptly, professionally, and went above and beyond to correct the situation as quickly as possible. Any remaining issues that are still affecting the market will be rectified and corrected as soon as possible. We appreciate their commitment to maintaining a fair and orderly marketplace."— James Dahlke, President & CEO, UK Financial Ltd
Finally, to anyone intentionally attempting to exploit this situation, please understand that SMCAT is a regulated security token operating under a compliance framework. Activities intended to manipulate the market or interfere with orderly trading are taken seriously. We expect all participants to act responsibly and in accordance with applicable exchange rules, the token's compliance requirements, and all applicable laws and regulations. Any improper activity will be reviewed and addressed through the appropriate channels.
Regarding MAYA3, the token experienced an unofficial opening on CATEX Exchange during the recent technical incident. Neither UK Financial Ltd nor CATEX Exchange had announced or authorized the official commencement of trading at that time. Once the situation was identified, CATEX Exchange responded promptly to correct the issue and restore the market. We appreciate their professionalism and cooperation throughout the process, and we look forward to the official launch of MAYA3 under normal trading conditions.
We appreciate everyone's patience and continued support. Thank you for helping maintain a fair and orderly market for all participants.
James DahlkePresident & CEO UK Financial Ltd