In this blog, we would like to share the details of how we decide which tokens to list and give yours the best chance to join the 250+ cryptoassets we currently have on the platform.
Let’s get into the trenches and share insights into what we look for in the assets we list at Kraken.
The four-step listing process overview:
- You apply: You fill out our asset listing application form
- We evaluate: We’ll use an array of data points to analyze each application on it’s own merits
- Kraken Legal approval and prep: We handle the listing review, compliance sign-off and engineering development ahead of your listing
- Token launch: We support and promote your launch, and then monitor liquidity and volume to check everything is working as expected
Now, let’s drill down and see what each step entails.
Step 1: You apply via our asset listing application form
Regardless of whether you’ve already launched a token or you’re planning your token generation event (TGE), your first step is to fill out our application form.
Completion of the form is designed to make sure we have all the information we need to make next steps go as smoothly as possible, helping us expedite the listing process for tokens that meet our listing criteria.
There aren’t any shortcuts: we only consider assets that are submitted via the application form.
| Remember: Kraken will never charge you a listing fee to list on the exchange. |
We review all applications that are submitted and aim to provide a response to teams within two weeks. This isn’t always possible as we receive hundreds of applications each month, so please be patient.
| ✅ Things that speed up applications | ❌ Things that slow down applications |
| Providing as much detail as possible in your application, including: – Token utility and tokenomics – Onchain metrics to highlight growth and potential – Link to your onchain contract – Details of your TGE plan (if applicable) – Your details (more on this later) |
– Submitting multiple applications for the same asset – Spamming the team on Twitter for updates – Getting your VC, influencer friends or a B-list celebrity to try to push us to list (yes, all of these have happened) |
| Remember: There is no way to cut the line — All listings go through the same rigorous review process. |
Step 2: We evaluate your application
We take both a qualitative and quantitative approach to token evaluation. In our initial review, we’re evaluating everything, including the team, technicals, fundamentals, the project’s community and its governance structures.
Evaluation parameters
| Asset profile | Focus on the token’s quantitative financial indicators (e.g., market capitalization, volume, distribution, etc.) |
| Market topography | Assessment of the project’s vertical (e.g., DePIN vs. gaming), fundraising activity, plus the token’s utility, adoption and maturity |
| Catalysts | Holistic engagement is key, whether that stems from a team’s throughput and upcoming releases or the community (both Kraken clients and those onchain) rallying around the product offering |
We also have certain red lines we won’t cross. This is to protect our clients and ensure that we provide a stellar client experience, as well as making sure we remain compliant with applicable regulations across the jurisdictions we serve.
What happens after my application is reviewed?
Once it’s reviewed, we’ll get in touch to let you know whether your application was successful.
- If it was, your asset will be automatically added to our private, provisional listing backlog. (Note: being on the provisional listing backlog is not a guarantee of listing).
- If your application was not successful, we’ll get in touch to provide feedback. You can reapply in three months.
| Remember: Your project doesn’t need to be an A+ candidate in all categories to get listed. |
Step 3: The internal listing process at Kraken
We know this is typically the step that can be most frustrating for a project team. If a centralized exchange has an opaque review process, it can feel like people you don’t know are deciding your fate according to evaluation criteria you also don’t know. This is why we’re as open as possible about what goes on once you’ve submitted your cryptoasset for review.
This is the stage with the most steps. It generally takes 2-6 weeks from a token’s addition to our provisional list to its listing day on the exchange. It can take longer, depending on several factors, including development complexity.
Our internal approval process is also split into 4 stages:
- Listing review 🔎
- The Kraken Listing Committee 🕺
- Legal & compliance sign-off 🏛️
- Development 🏗️
This section will cover stages 1-3.
- Listing review
We take all the information we gathered in our initial asset evaluation and create a much more detailed asset review document with our category scoring, details of the project and our recommendation to list your token. This asset review document is then shared with the Kraken Listing Committee (KLC) for their review and approval.
- The Kraken Listing Committee
The KLC is an elite team of business leaders and crypto OGs within Kraken, who bring a unique set of skills and perspectives to each asset review.
The committee reviews each listing and then the committee members vote. If the majority of the committee supports the listing, we move forward. Why do we go to all this trouble for every listing? Two words: fairness and integrity.
If your token is approved by the KLC, it will be added to our Listings Roadmap where we publicly announce to the world that we’re getting ready to list your token. (Note: Being on the Listings Roadmap is not a guarantee of listing).
- Legal and Compliance sign-off
Once approved for listing by the KLC, our Legal and Compliance teams perform an in-depth review. It includes legal reviews for each country we operate in so that we ensure we remain compliant with all applicable laws and regulations specific to each country we serve.
Why does Kraken’s Compliance team need to approve the asset?
Our mission is to spread crypto adoption around the world, and in order to do that we need to keep our seat at the table by complying with the rules and regulations set by each country in order to operate lawfully. We try to go above and beyond by making sure we list only the best projects.
| Remember: If you’ve already completed onboarding as a Kraken client, this can help speed up the listing process. |
- Development
While these legal and compliance reviews are taking place, we’ll kick-start the work with our engineering teams to identify the on-chain contract, establish funding methods and get everything ready for launch.
If you’re on an unsupported chain then we will need to build gateways and nodes to connect to that chain. This will likely increase the time until listing day. The more complex or novel the chain, the longer this can take.
| Remember: Around 2-3 weeks before launch, it’s time to think about marketing. We’ll provide you with a media kit and will post (blog and socials) about your launch. |
Step 4: Listing Day! 🚀
Now we’re ready to launch your token on Kraken! In the run-up to your listing date, we’ll coordinate with your market makers (MMs) and post on social media and across our various marketing channels, to make sure as many people as possible are aware of your listing on Kraken.
Using MMs helps with market liquidity, driving volume and better price discovery. It is one of the first steps toward creating a healthy trading market for a specific token.
Going forward, we’ll monitor your asset pairs on Kraken. We’ll be looking at volume, liquidity and spread to gauge how the market is performing.
| Remember: We recommend projects use Market Makers at launch; many projects bring their own. |
The listing process is important to us, because we believe that the builders are the lifeforce of crypto. Our mission at Kraken is to accelerate the adoption of cryptocurrency around the world in order to promote financial freedom and inclusion. We couldn’t do that without the support of the projects and teams pushing the industry forward. So, builders, click below and take the first step toward getting your cryptoasset listed on Kraken!
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
