Upbit has announced it will support trading for Collector Crypt's CARDS token, with trading set to begin at 4:30 p.m. Korea time on November 5. The notice was posted at 3:03 p.m. the same day.
Trading Markets and Schedule
Upbit will offer CARDS in three markets: the Korean won, Bitcoin, and Tether's USDT. Deposits and withdrawals were set to open within one hour of the notice. The exchange noted that the start time could be delayed if the token does not gather enough liquidity after deposits and withdrawals open.
What Collector Crypt Does
Collector Crypt is a marketplace built on the Solana network that lets people trade trading cards and other physical collectibles through NFTs. Each NFT matches a real item, which is kept in a separate storage facility. This allows users to trade the NFT without moving the item itself. Users can also redeem an NFT to have the real collectible shipped to them.
One main feature is a gacha-style draw, where users pay a set amount and receive a random collectible. The platform earns money from collectible sales and trading activity. Upbit says the CARDS token is used for peer-to-peer trades and for rewards.
Trading Limits at Launch
Upbit has set rules for the first hours of trading, using price data from CoinMarketCap. Buy orders will be blocked for about five minutes after trading starts. During the same five minutes, sell orders priced 10% or more below the previous day's closing price will not be allowed. For about two hours after launch, only limit orders will be accepted. All other order types and conditions are restricted.
Upbit listed the reference prices ahead of the launch. The previous close was 351.86 won, or 0.00000331 BTC, or 0.2626 USDT. At 2:55 p.m. on November 5, the latest price was 349.88 won, or 0.00000324 BTC, or 0.2606 USDT.
Deposit Rules
Upbit supports CARDS only on the Solana network. Deposits from other networks are not supported. The exchange told users to check the network before sending funds. The contract address for the listed token is CARDSccUMFKoPRZxt5vt3ksUbxEFEcnZ3H2pd3dKxYjp. Upbit asked users to confirm this address when they deposit or withdraw. Deposits that cannot be credited may take a long time to return.
Because of travel rule requirements, deposits from exchanges not on Upbit's approved list cannot be credited. Personal wallets must have completed the ownership check before use. Large deposits from unclear sources may require users to explain where the funds came from.
Upbit also set a withdrawal cap for CARDS. The limit for a single withdrawal will be set at the equivalent of 100 million won. It takes effect 20 business days after the first business day following the listing date.
Risk Warning
Upbit included its standard risk warning in the notice. It said digital asset prices can swing sharply and that investors carry their own losses. It also noted that prices often differ between Korean and global exchanges, and told users to check that gap before trading.
The notice said trading was expected to begin at 4:30 p.m. on November 5. Upbit's parent company, Dunamu, signed off on the notice through its compliance officer.
