The Binance community will now have input on which tokens are listed on the exchange and which are dropped from the platform.
Crypto’s largest centralized exchange, Binance, plans to democratize its token listing and delisting procedure “to provide users with more opportunities” in the digital asset market.
Voting eligibility will require users to hold at least 0.01 (BNB) to upvote a project for listing in the Alpha Observation Zone, or downvote a token for delisting via the Monitoring Zone. Projects with community support must still pass due diligence on Binance before listing. Existing projects can also self-nominate in the future, according to the CEX.
“For projects that have completed their TGE (Token Generation Event) for some time but are not yet in the Alpha Observation Zone, we will be introducing a self-nomination application method, with details to be announced at a later stage.”
Binance announcement
Last year, Binance tapped the meme coin mania to list a basket of tokens on its platform. Division arose within the crypto trading community since the listing criterion was unclear.
Speculators guessed that fee generation from trading incentivized several listings. Another rumor said projects greased Binance’s palms for a seat at the table. “Binance does not take listing fees,” the company said on March 6.
In related news, the crypto CEX heavyweight called for better security practices after Bybit’s record $1.4 billion exploit. Also, the U.S. Securities and Exchange Commission paused litigation against the company to find a mutual resolution.
