| Key Points: – Binance introduced “Vote to List” and “Vote to Delist” features, allowing users to vote on which projects should be listed or removed. – The exchange pledged not to profit from listings, will disclose project marketing expenses, and distribute listing budget tokens through airdrops. |
Binance has announced a major overhaul of its coin listing mechanism, introducing two new community-driven features: “Vote to List” and “Vote to Delist.”
These features aim to enhance user participation in decision-making while improving transparency in the cryptocurrency exchange’s operations.
Binance Empowers Users with Vote to List and Vote to Delist
Under the new system, Binance users will be able to vote for projects they want to see listed on the platform. To qualify, projects must pass due diligence checks and secure a significant number of user votes, with each voter required to hold at least 0.01 BNB.
Conversely, the Vote to Delist feature will allow users to propose and vote for the removal of projects that fail to meet certain criteria, such as lack of development, absence of community engagement, excessive token issuance, or security concerns.
To further increase transparency, Binance has pledged not to profit from listings. Instead, it will disclose project marketing expenses and distribute listing budget tokens through airdrops.
Additionally, projects conducting Token Generation Events (TGE) exclusively via Binance Wallet will gain direct access to the platform’s Alpha Observation Zone, where the Binance team will assess their suitability for listing or further community voting.
Binance asserts that these changes will create a fairer ecosystem for users, project developers, and the exchange itself. By fostering a co-governance model, the company aims to support innovative projects while promoting the sustainable growth of the blockchain industry.
Pi Network Vote Sparks Controversy Among Users
Recently, the exchange opened a voting portal for users to decide whether to list the Pi Network project. The vote resulted in 86% of participants favoring the listing.
However, Binance has yet to confirm its decision, causing frustration among Pi Network supporters. In protest, some users flooded the App Store and Google Play with one-star reviews for the Binance app, accusing the exchange of exploiting the Pi Network community for publicity.
Binance, founded in 2017, remains the world’s largest cryptocurrency exchange, with a daily trading volume of over $24 billion in daily, according to CoinMarketCap. The exchange maintains a rigorous evaluation process, with an independent team responsible for researching potential listings.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Latest
Trump Family’s WLFI Acquires 4.89 Million SEI in Strategic Move
Trump’s Optimism on U.S.-China Trade Relations Boosts Crypto Markets
Press Release
AB Charity Foundation Launches Global Operations with Blockchain-Backed Public Good Framework
My Crypto Funding Wins Best Trading Conditions Among Crypto Prop Firms
