Delisting Watchlist Notice, JOULE/USD

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Delisting Watchlist Notice

FTSO Feed Delisting Watchlist:

JOULE/USD

Subject: Placement of Joule/USD on Delisting Watchlist

In accordance with FIP.15: Introduce Process to Delist FTSO Feeds, the Flare Foundation is placing the Joule/USD data feed on the Delisting Watchlist, effective immediately

Following a review of market-quality metrics, the Joule/USD feed has breached the Delisting Criteria defined in Section 2.2 of FIP.15

Summary of Breaches:

  • Insufficient Venue Coverage: The asset is currently listed on a single exchange. This level of coverage materially reduces effective decentralized price sourcing, such that cross-venue aggregation is no longer robust

  • Very Low Liquidity: The feed exhibits poor liquidity, failing to meet the required depth thresholds necessary for a reliable FTSO feed (7-day average ±2% depth aggregated across eligible venues is below the threshold)

Next Steps:

As outlined in Section 2.3 of FIP.15, the feed has now entered the Delisting Watchlist (Soft breach) period

  1. Enhanced Monitoring: The Flare Foundation will conduct enhanced monitoring of this feed for a period of 14 days.

  2. Opportunity for Recovery: This period allows for potential recovery (e.g., the addition of new venues or improved liquidity). If the criteria are cleared for 14 consecutive days, the feed will be removed from the Delisting Watchlist

  3. Escalation: If the breaches persist for 14 consecutive days, the Flare Foundation may initiate a Delisting Vote by submitting a proposal to the FTSO Management Group (MG) for review and subsequent on-chain voting

This post formally initiates the 14-day monitoring window, beginning today 12 February 2026, required before a formal proposal can be presented to the MG.

Thank you! :folded_hands:t3:

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:studio_microphone:JOULE/USD Delist Voting

Due to a lack of new CEX listings and persistently low liquidity for JOULE/USD, threshold breaches have now continued for 14 consecutive days

Consequently, the Flare Foundation will initiate a Delisting Vote for the FTSO Management Group for onchain voting anticipated for 3 March, 2026

Voting will be on both Songbird and Flare and MG members can leverage the MG tab on the Flare Portal to cast votes. Voting is rejection based and would require 66% participation amongst all eligible MG members and more than 50% of the votes going against the proposal for it to be rejected. Otherwise, the Foundation will proceed with delisting the JOULE/USD pair on both Songbird and Flare sometime after the voting period expires