Coinmetro has successfully moved the mechanical XCM floor price to €0.60 / $0.63 / 0.00036.
The update comes as a natural evolution following our recent XCM equity round and the 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 does this mean?
With an XCM price floor implemented at €0.60 / $0.63 / 0.00036 ETH, all limit buy orders under €0.60 / $0.63 / 0.00063 ETH have now been removed from the XCM books. Clients who had open orders below this price were notified of their canceled orders. Any limit buys order that is attempted to be placed below this price on Coinmetro will be automatically rejected.
What happened to Margin orders?
We reviewed all Margin exposure across all XCM pairs, and 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.
What happens to Market Orders?
Market orders will not be affected during this process at all. We already offer price protection and slippage warnings in the event of volatility.
When will the Swap Widget be enabled again for XCM?
As soon as we see liquidity stabilize, we will re-enable swaps for XCM pairs. Our goal is to facilitate a healthy trading environment.